SBANC
Small Business Advancement National Center University of Central Arkansas — Conway Arkansas
Quote
115H, College of Business - University of Central Arkansas - 201 Donaghey Ave. Conway, AR Issue: 819 – May 27th, 2014
Of The Week
“There is always space for improvement, no matter how long you've been in the business.”
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Os c a r De L a Ho ya
Upcoming Conferences Who: Allied Academies AA
AA
AA
What: Summer International In- Where: Online ternet Conference
Who: Allied Academies
When: December 15-19, 2014
What: Winter International Internet Conference
Where: Online
Who: Allied Academies
When: April 8-10, 2015
What: Spring International Con- Where: New Orleans, LA ference
Who: Allied Academies AA
When: July 21-25, 2014
When: October 15-17, 2014
What: Fall International Confer- Where: Las Vegas, NV ence
Announcements SBANC
The Small Business Advancement National Center aims at increasing your knowledge of small business and entrepreneurship. All questions and comments are greatly appreciated.
USASBE
The Baylor University Entrepreneurship Program and USASBE are jointly sponsoring a student case writing competition in conjunction with USASBE’s annual meetings. Deadline for submission of cases is September 12, 2014
ISBE
The Haydn Green Institute at Nottingham University in partnership with the Institute of Small Business & Entrepreneurship (ISBE) is inviting people to attend a Paper Development workshop that will take place on September 18, 2014 at Nottingham University, Nottingham,
ICSB
The Mentoring Institute at the University of New Mexico is accepting proposals for its seventh annual Mentoring Conference. The 2014 conference will be held on Tuesday, October 21 through Friday, October 24 in Albuquerque, NM, at the Student Union Building, UNM. The International Economic Development Council will be hosting a 2014 Spring Conference in Minneapolis, USA from June 1-3, 2014.
UNM
Call for Papers ISS
Who: Interdisciplinary Social Sciences th
IABE
INTE
SBI
When: June 11-14, 2015 Where: Split, Croatia
What: 10 Int’l Conference
Deadline: June 10, 2014
Who: International Academy of Business & Economics
When: October 12-14, 2014
What: Las Vegas Conference
Deadline: July 1, 2014
Where: Las Vegas, NV
Who: International Conference When: June 25-27, 2014 on New Horizons in Education Where: Honolulu, Hawaii What: 5th Int’l Conference Deadline: June 13, 2014 Who: Small Business Institute
When: February 12 - 15, 2015
What: 39th Academic Conference
Where: St. Pete Beach, FL Deadline: October 1, 2014
Tip
of the Week
“The moment you create a business, you step into a twilight zone where the barrier between what is work and what is not starts to break down.” The Challenges of HomeBased Business Just as most businesses located at commercial sites have their problems, home-based businesses face special challenges because of their location. We will briefly consider two of these issues—business image and legal considerations. Professional Image Maintaining a professional image when working at home is a major challenge for many home -based entrepreneurs. Allowing young children to answer the telephone, for example, may undermine a company’s image. Likewise, a baby crying or a dog barking in the background during a phone call can be distracting to a client and discourage sales. If clients or salespeople visit the home-based business, it is critical that a professional office area be maintained. Space limitations sometimes makes this difficult. For example, when you own a home-based business, house guests can create problems. Unless you want Aunt Zerelda wandering into a
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client meeting in her bathrobe or your nephew Jimmie playing his electric guitar during a work call, ground rules need to be set for house guests. Otherwise, major disruptions to the business are bound to occur. But establishing appropriate boundaries between home and business is easier said than done. Consider one successful work-at-home small business owner's take on this: “The moment you create a business, you step into a twilight zone where the barrier between what is work and what is not starts to break down. The deterioration accelerates for entrepreneurs who work out of their homes. You may start off with a home-based business but soon find yourself with a business where you and your family also happen to live.” So, it’s not just a matter of preventing family members from spoiling business opportunities. Family life is paramount and should be shielded, in reasonable ways, from the creeping reach of the company’s operations. The groan of extra car traffic, the presence of strangers (customers and employees) wandering through the house, inconvenient stacks of inventory and packing materials cluttering common areas, brusquely rejected invitations to break
the focus on work to join one’s spouse for lunch—these and many other hassles and inconveniences are everyday fare for the family of a home-based entrepreneur. And they call for patience and an extra dose of understanding from everyone involved. Legal Considerations Local laws can sometimes pose serious problems for home-based businesses. Zoning ordinances regulate the types of enterprises permitted to operate within certain areas, and some cities outlaw any type of homebusiness within city limits. Many zoning laws, dating as far back as the 1930s, have never been updated. The intent of such laws is to protect the neighborhood’s residential quality by forbidding commercial signs, limiting noise, and preventing parking problems. The neighborhood you live in may have a homeowner’s association that can limit your ability to run a home-based business. Some entrepreneurs first become aware of these zoning laws when neighbors initiate enforcement actions. There are also tax issues related to a home-based business. For example, a separate space must be clearly devoted to the activities of the business if an entrepreneur is to claim tax deduction.
“The good news is that these ventures now have access to powerful businessapplication technologies that can help them compete against rivals, even those with a commercial site.” A knowledgeable accountant can help explain these tax regulations. And don’t forget the insurance considerations that may affect a home-based business. A homeowner’s policy is not likely to cover an entrepreneur’s business activities, liabilities, and equipment. Therefore, he or she should always consult a trustworthy insurance agent about policy limitations to avoid unpleasant surprises down the road. The bad news for home-based businesses is that they often face significant hassles and limitations, such as those outlined above. The good news is that these ventures now have access to powerful business-application technologies that can help them compete against rivals, even those with a commercial site. With this in mind, in the next section we examine the potential of the Internet as a place to host a new business.
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Feature Paper
SBANC Staff
A Services Marketing Perspective On The Short Term International Study Tour
Executive Director Dr. Don B. Bradley III
Development Intern
This paper explores marketing of short-term (one to two week) international study tour programs to business students. A services marketing framework is used to define the target market and an appropriate marketing mix. The primary target market is business students who have low interest in studying abroad, not willing to take risks or tolerate ambiguity. Elements of the services marketing mix include the product, place, promotion, pricing, people, physical evidence, and process. These services marketing mix elements are discussed in relation to the primary target market for the short-term international study tour.
James Vire
Development Intern Daniel Champion
Comments? The Small Business Advancement National has recently made immense changes to the layout of its website, SBAER.UCA.EDU, as well as its Newsletter. We welcome constructive criticism, comments, and of course, all questions throughout this transition.
(pg. 42)
Read Entire Paper Here
Contact Us Email: SBANC@UCA.EDU Phone: 1 (501) 450-5300 Mail:
Tip of the Week Source: Small Business Management
UCA Box 5018 201 Donaghey Avenue Conway, AR 72035-0001
17th Edition Longenecker, Petty, Palich & Hoy CENGAGE Learning Page 239 - 240
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