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Minimizing Small Business Failure

There are things that small businesses can do to minimize failure, reports Kiplingers. 

“Regardless of what kind of business,” observes Bakersfield, Calif.-based CPA Michael Stevenson (opens in new tab), “the risk of failure should always be kept in mind along with a large question mark: ‘What, if anything, could I be doing wrong? What have I missed?’ Answers to these questions spell success or failure.”

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Tax Breaks for Small Business

According to Yahoo Finance, small businesses can take advantage of several small business tax breaks, like the employee retention credit. 

Small employers faced unprecedented times in the last couple of years. Fortunately, Congress passed tax incentives for small business owners to take advantage of this critical situation.

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Tax Credit for Businesses

Businesses that previously applied for the Restaurant Revitalization program can now apply for a special tax credit, reports Small Business Trends. 

The new legislation creates a special tax credit that is available to businesses that had previously applied for the Small Business Administration’s Restaurant Revitalization Fund (RRF) program, but did not receive a grant because the program ran out of funding. 

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Grants for Small Business

Many grants are available for small businesses, reports the US Chamber.

Whether you’re starting a new small business or looking to grow the one you already own, finding funding can be a challenge for businesses of all sizes. If you’re looking for a small business loan or grant, CO— is here to help.

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Small Business Optimism Low

According to Forbes, the National Federation of Independent Business finds Small Business Optimism still remains low. 

Last week, the National Federation of Independent Business (NFIB) revealed the results of its December 2022 Small Business Optimism Index. As it turns out, small business owners aren’t feeling very hopeful about the near future. 

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Small Business Want Gov Help

According to Forbes, recent research shows that small businesses want the government to help them more. 

As the world’s economy continues to be affected by a global recession, small and medium-sized enterprises (SMEs) face many challenges in staying afloat. Research reveals they are increasingly worried about the impact of the recession, with many being forced to lay off workers, reduce wages or even close down completely.

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Trends for Small Business

According to Entreprenuer, there are several new trends small business owners should be aware of.

The beginning of a new year often comes with a laundry list of goals and to-dos, which can quickly become overwhelming if you try to tackle too much, too fast

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Small Business Grants

Several cities have launched new grant programs aimed at helping small businesses, reports Small Business Trends. 

Small business grants can help entrepreneurs overcome a variety of challenges, from construction to economic hardships

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More Retirement Options for Small Business

Small business rule changes allow more businesses to offer more employees retirement plans, reports Morningstar.

Small businesses -- and the people they employ -- got a boon from new retirement rules that could make it easier and more cost-effective for such companies to offer retirement plans and ultimately help narrow the gap in retirement savings at smaller firms. 

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Protecting Small Business Assets

According to the Press Democrate, businesses can take steps to protect their assets in time of economic uncertainty. 

Inflation and looming recession worries are only a handful of concerns small business owners have going into the new year.

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