Snapchat Hacked: Names and Phone Numbers of 4.6 Million Users Posted

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• Snapchat Hacked: Names and Phone Numbers of 4.6 Million Users Posted
• Goodbye AllThingsD; Welcome ReCode.Net
• Starting a Business in 2014? Here Is Your Startup Checklist
• 3 Examples of The Mobile Lending Trend: CUNA, Kabbage and Prosper
• Top Franchise Trends For 2014

Snapchat Hacked: Names and Phone Numbers of 4.6 Million Users Posted Posted: 02 Jan 2014 04:30 PM PST Users of the rapidly growing photo sharing social app called Snapchat got some potentially bad news — and now the company has responded. It’s estimated the names and phone numbers of about 4.6 million Snapchat members were published online by anonymous hackers at a site that’s since been taken down (although some information is still available via leaked databases). If you are a Snapchat user and aren’t sure whether you’ve been affected, visit this site first. It was set up by a security group very close to the Snapchat problem.  Only users within certain area codes in the United States were affected by the breach, according to the site. You may remember Snapchat as the social startup that recently turned down a cool $3 billion from Facebook, which wanted to acquire the company.   You may also remember that Snapchat specializes in a type of photo sharing in which temporary photos and brief messages are shared on the network for up to 10 seconds and then deleted. (The site actually notifies the sender if another user has made a copy of the message.) Also important is that messages are shared only with the connections you specifically designate – not to the entire world. So with such an emphasis on allowing users to control with whom they are sharing messages, you would think that user privacy should have been a top priority. However, it turns out that Snapchat was apparently warned twice about a vulnerability in its system and did not do enough to address the vulnerabilities. In fact, Snapchat was reportedly contacted as early as August by an Australia-based company called Gibson Security, The Daily Caller reports. Gibson set up the site mentioned above for members to determine whether or not their accounts have been breached. Then, last week Snapchat acknowledged the security group had posted a private communication detailing a specific method hackers could use to obtain private user information, but downplayed the problem.  On its official blog, Snapchat explained: Theoretically, if someone were able to upload a huge set of phone numbers, like every number in an area code, or every possible number in the U.S., they could create a database of the results and match usernames to phone numbers that way. Over the past year we've implemented various safeguards to make it more difficult to do. We recently added additional counter-measures and continue to make improvements to combat spam and abuse. Yet, hackers apparently used a variation of the exact tactic spelled out by Gibson to successfully obtain user information from the site.   Hackers who claimed responsibility for yesterday’s breach insisted they were trying to expose Snapchat’s security issues for everyone’s good.  They told the Verge: “Our motivation behind the release was to raise the public awareness around the issue, and also put public pressure on Snapchat to get this exploit fixed. Security matters as much as user experience does.” Snapchat today responded by emphasizing that the information released was limited to redacted phone numbers and usernames, not “snaps” (i.e., pictures shared).  It also said that the vulnerability is related to the optional “Find Friends” feature and noted: “We will be releasing an updated version of the Snapchat application that will allow Snapchatters to opt out of appearing in Find Friends after they have verified their phone number. We're also improving rate limiting and other restrictions to address future attempts to abuse our service.” Image via SnapChat The post Snapchat Hacked: Names and Phone Numbers of 4.6 Million Users Posted appeared first on Small Business Trends.

Goodbye AllThingsD; Welcome ReCode.Net Posted: 02 Jan 2014 01:57 PM PST AllThingsD has been on our list of “must read” sites for a long time.  With a new year, AllthingsD is no longer.  Tech guru Walt Mossberg and journalist Kara Swisher have a new gig now, in 2014, called ReCode.net. The new site logo is a bit confusing in that it is “Re/code.”  If you go to recode.com (as most might assume) you will end up somewhere else.  If you attempt to put the slash mark in the URL, you’ll really get confused.  It’s easier to think of it merely as Recode.net so that you end up at the right site. AllThingsD was once part of the Wall Street Journal network online.  You could be sure to find the latest technology news there, especially news affecting large publicly-traded companies. Today, however, if you go to AllThingsD.com, you’ll be redirected to the Technology section of the Wall Street Journal. The change is not unexpected.  Mossberg and Swisher announced back in September that they would be leaving the Wall Street Journal at the end of 2013. Their new site is owned by Swisher and Mossberg’s holding company Revere Digital LLC.  According to a report on CNBC, “The new enterprise is being launched with minority investments from the NBC Universal News Group and Windsor Media, an investment firm run by Terry Semel, the former chief of Yahoo and Warner Brothers.”   ReCode.net also has a separate content partnership with NBCUniversal News Group for tech coverage — apparently the goal there is to get more video coverage. So what happens to the big AllThingsD tech conference every year that featured such big names as Bill Gates?  It will still go on, but will be called the ’Code’ conference. As Mossberg explains in the video interview below, previously AllThingsD was a product of Dow Jones (owner of the Wall Street Journal). Now, their site will be independently owned by them.  They are still going to cover breaking news and give fair analysis of technology news, adds Swisher, who is Co-CEO of the new company along with Mossberg. The post Goodbye AllThingsD; Welcome ReCode.Net appeared first on Small Business Trends.

Starting a Business in 2014? Here Is Your Startup Checklist Posted: 02 Jan 2014 11:15 AM PST Each year, the number of new businesses spikes in January as the start of a new year seems like the most natural time to begin a new venture. Whether you're just starting out or are a seasoned entrepreneur, run through this startup checklist to better understand the steps needed to make your business legit. 1. Make Sure Your Business Name is Legal You dreamed up the perfect name for your new company, but is it legally available for you to use? Before you get too far with your branding and order your signage, you've got to make sure that your business name isn't conflicting with an existing business. Name conflicts are actually one of the primary reasons why many LLC/corporation/DBA applications are rejected by the state or county processing office. Fortunately, running a name search isn't complex process and you don't need a lawyer to help you. Perform a trademark search to check the availability of any name in the U.S. By checking to make sure your name is available early on, you'll have peace of mind knowing that you won't find yourself at the wrong end of a trademark dispute sometime down the road. 2. Pick Your Business Structure Unless you specifically create a formal business structure with the state, then you're operating as a sole proprietor by default (if you're a single owner). While the sole proprietorship may be the right choice for certain situations due to its simplicity, you should consider this move carefully. With a sole prop or general partnership, there's no separation between the business and business owner. This can keep things simple, but if a business is sued or can't pay its bills/debts, the business owner(s) are personally on the line. When you create a formal business structure with the state, you are separating yourself from the business. Popular structures include the Limited Liability Company (LLC) and Corporation (either S or C Corporation). A little research will help you determine which structure is right for your situation. For example, the LLC is great for people who want liability protection (i.e. to protect their personal assets if their business is ever sued) but don't want a lot of paperwork or administrative formality. The C Corporation is better for companies who plan to go public or get VC financing. You can also take the self quiz to determine the best business structure for your business. It’s fast. 3. Register Your Business Name If you decide to form an LLC or corporation, that will automatically register your business name and you can skip over this step. But if you're not quite ready for a formal business structure and stay a sole prop, then you'll need to register your business name by filing a Doing Business As (DBA), also known as the Fictitious Business Name. This step lets the public know who's behind a company, ensures that you're legally able to operate your business under that name, as well as stops anyone else from using your business name in your state. Keep in mind that while a "Doing Business As" application protects your name in your state, it doesn't stop anyone from using the same name in the other 49 states. You can, however, file for trademark protection to protect your name and brand in all 50 states. 4. Apply For a Federal Tax ID Number or Employer Identification Number (EIN) The IRS tracks your company's transactions via a Tax ID number. Think of it as a social security number for businesses. If you're operating as an LLC or corporation, your business is required to have a Tax ID number and you'll also need one to open your business bank account. If you are a sole proprietor, you're not obligated legally to get a Tax ID number, but it's smart practice. With a Tax ID number, you won't have to give out your personal security number to every client or vendor you work with. Read how to apply for an EIN at the IRS website. 5. Apply For Any Necessary Permits Depending on what kind of business you have and where you live, you may need to get business licenses from the state, county, or town. Examples include: zoning permit, sales tax license, permit from the health department, professional licenses, or a general business operation license. Keep in mind that a tattoo artist, daycare center, or restaurant will be more tightly regulated than a copywriter or business consultant. You can read more about business licenses and permits here. If you are not sure about business licenses that may be required, check out our free tool called the "Business License Compliance Package."   You can find out all the licensing requirements and applications for your particular business in the state and county where you are conducting your business. 6. Brush up on Employer Laws If you are planning on hiring an employee for your business, you need to clearly understand your legal obligations as an employer, including payroll and withholding taxes, unemployment insurance, anti-discrimination laws, OSHA regulations, workers' compensation, and wage/hour requirements. If this is your first time hiring an employee, it might be wise to speak with an employment law professional or consultant to fully understand all the legal intricacies. The new calendar year is an ideal time to turn your dreams into reality by becoming your own boss and starting a new business. But in the excitement of your new venture, don't forget to get your legal foundation squared away. And if you've been running a business for years without thinking about these things, now's the time to catch up! These activities are fundamental to your business' long-term health and to the security of your finances. We hope this startup checklist gets you on the right path. Here’s to a prosperous and productive 2014! Legal checklist photo via Shutterstock The post Starting a Business in 2014? Here Is Your Startup Checklist appeared first on Small Business Trends.

3 Examples of The Mobile Lending Trend: CUNA, Kabbage and Prosper Posted: 02 Jan 2014 08:35 AM PST Small business lending is increasingly going mobile – and we predict you can expect to see more about the mobile lending trend in 2014. Three companies are addressing it in different ways. Let’s take a quick look at each: Kabbage, an Atlanta-based company specializing in loans for online sellers and home-based businesses, has iPhone and Android apps.  Small businesses can apply for funds on mobile devices, and access their accounts via their iPhone or Android devices, as well. Sarah Eyres is co-owner of Cephalopod Yarns, a Baltimore-based yarn store. When a shipment was delayed, she needed to buy 200 pounds of yarn to get her through the Holiday shopping season. And she used $3,500 from Kabbage to do it. The loan was approved in just seven minutes, Eyres said. She told The Washington Post: “I would have just been sitting and waiting for that shipment. I would not have felt comfortable [making the purchase] without the loan." CUNA Mutual Group, a Madison, Wis. insurance company that supplies financial products and services to many credit unions, also offers a mobile version of its Loanliner.com system that credit unions can extend to their members. Peer to peer lending is also converging with mobile.  There’s already been speculation that peer to peer lending will gain ground compared to traditional bank loans as a viable option for small business funding. So it probably makes sense that peer-to-peer lenders like Prosper.com have already have mobile lending, too. Prosper.com’s app lets investors select business listings they would like to lend to and even lets them transfer the funds from a mobile device. One thing to remember:  the apps don’t necessarily allow you to do everything using a mobile device.  Each app and its functionality will be different. Of course, the apps don’t necessarily make it any easier to qualify for a loan. It only makes it faster for those who are approved. Finally, remember the security issues that have abounded with mobile technology. So be aware of the information these apps request from you when applying. It may have an impact on which lending apps you’re willing to try. Image via Kabbage The post 3 Examples of The Mobile Lending Trend: CUNA, Kabbage and Prosper appeared first on Small Business Trends.

Top Franchise Trends For 2014 Posted: 02 Jan 2014 05:00 AM PST What's the future hold for franchising in 2014? What sectors should you keep your eye on? If you're looking into becoming the owner of a franchise, it's important to be a trend-watcher. It's important to find out what today's franchisors are up to. In this, my sixth annual top franchise trends article, I'm going to let you in on the top franchise trends for 2014 that are taking shape in the franchise industry. All of them are worth watching and some of them might be right up your alley. So let's see what franchising has in store for 2014. Franchise Trends for 2014 Headed Your Way More and more franchise opportunities are starting to appear that are highly specialized. These opportunities feature products and services that are hyper-focused on specific niches. Some examples include: The Interface Financial Group (IFG) IFG franchisees are in the business of helping companies improve their cash-flow by using a form of short-term borrowing called invoice discounting. Invoice discounting allows a business to draw down a percentage of their outstanding sales invoices, so they can have immediate cash flow. Revenue for franchisees comes from the fees they charge businesses that wish to implement this highly specialized solution to improving cash flow. Mosquito Squad Pest extermination as a business has been around a long time. Our view on bugs hasn't changed during this time; they must be eliminated. Mosquito Squad is different because they only focus on outdoor pests like mosquitos and ticks. Franchisees have two market opportunities: homes and businesses.  Let's focus on the business opportunities: Playgrounds Beaches Golf courses Stadiums Outdoor restaurants Theme parks Venues like the ones I just listed take pest-control seriously and they'll pay for specialized services like the ones Mosquito Squad franchisees provide. Brain Balance Achievement Centers Brain Balance Achievement Centers offer programs that focus on the underlying issues resulting in most of the behavioral, developmental, and learning disorders that plague so many children today. The co-founder and creator of the special programs offered by these centers is Dr. Robert Melillo. He's a researcher and the author of several bestselling books including “Disconnected Kids and Reconnected Kids.” His latest book is titled “Autism.” Franchisees try to help children with: ADHD Learning disorders Behavioral issues Processing disorders Asperger's PDD-NOS No healthcare experience is necessary to become an owner. This franchisor is looking for people that have the desire to make a difference in the lives of children and their families. Other niche franchise opportunities that may be worth a look in 2014 include: Rapid Recovery, a refrigerant recovery franchise business. WG Storage and Delivery, a franchise that provides high-end moving and storage solutions. UFC Gym,  a fitness franchise offering boxing, kick-boxing and basic mixed martial arts training and workouts. OsteoStrong a franchise offering a natural wellness based system designed to improve the symptoms of Osteoporosis, Osteopenia, and Fibromyalgia. Kona Ice a franchise that sends tropical-themed frozen dessert trucks to children's events, corporate events and fundraisers. Franchise Trends In Food A comprehensive article on the top franchise trends wouldn't be complete without mentioning some of things taking place in franchising's most visible sector, food franchises. One of the things I've been watching is the trend towards self-serve. Franchisors in the frozen dessert segment are the ones that have really been focusing on self-serve, especially frozen yogurt franchises. The Fuzzy Peach is a young franchisor out of the Wilmington, North Carolina area, offers a rotating array of toppings that customers add to their favorite frozen yogurt selections. The end product is then weighed and charged accordingly. Menchie's is another self-serve frozen yogurt franchise that lets customers create their own frozen desserts using fresh toppings and fresh yogurt that comes from "Happy California cows that live in nice weather year-round." Several other franchises in the frozen yogurt sector offer self-serve including, FroyoWorld, CherryBerry Self Service Yogurt Bar, YoGo Factory, Yogurtland, and Zinga! The newest segment in self-serve food franchising combines vending machines with healthy snacks. Vending machines have always been self-serve. It's just that they've never really offered a lot of healthy choices for consumers to purchase…until now. Headquartered in sunny San Diego, Fresh Healthy Vending has 200+ franchisees servicing over 2,300 vending machines. One of the niches they're concentrating on is military bases, where there are always hungry men and women that need to stay in tip-top shape. Human Healthy Vending claims to be "a socially responsible franchisor of healthy vending machine and micromarket franchise businesses." Their offerings include vending machines specializing in coffee, and a large selection of machines offering fresh fruit and even locally sourced products. There's also an option to add a 23-inch LCD video monitor to the vending machines to stream ads for additional revenue opportunities. There are also a few business opportunities - which differ from franchise opportunities – being offered in the vending machine space including Grow Vending, Healthier4You Vending, and Naturals2Go. Tech Trends In Franchising It's all about mobile for 2014. The importance of mobile technology in franchising can't be overstated. Today's franchisees need to have access to their businesses when they're not on-site. They need to have the power to make decisions while they're on the go…decisions that can affect the profitability of their franchises. Franchisors need to make sure that their corporate websites are optimized for mobile viewing, so their future clients, customers and prospective franchisees will stay engaged long enough to get information and take action. Ramon Ray, a community member of Small Business Trends, and a small business technology expert, told me this about the importance of mobile technology: "If you are not as productive out of the office as you are in the office – you are NOT productive. Successful business owners must leave…..their offices. Do NOT reduce productivity just because you’re not on the office. Mobile technology and good processes will make you a digital ninja." Today's busy consumers are using their mobile devices for everything from online shopping to surfing locally for places to eat. They're also using the Click to Call feature that more and more mobile business websites are featuring. Franchisors need to make sure that their franchisees can capitalize on every opportunity that's increasingly coming from people using mobile devices. Franchisors that are investing in mobile technology today…the kind that their franchisees can use to become more productive and more profitable, are making a wise long-term business choice. Here are some other examples of how some franchisors are using mobile technology: McDonald's is testing out a smartphone app that scans a unique QR code when customers visit a location and activates a virtual "scratch card" that reveals prizes like free food or discounts. Franchisees of Zoom Room, a dog-training franchise, can use an iPad to do things like check dogs in for their training classes, bill and take pictures of their "clients." Some fast food chains are investing in Point of Sale (POS) systems that can accept payments from their customers’ mobile devices. This trend will gain momentum in 2014. Little Caesar's Pizza encourages website visitors to download branded ringtones to their smartphones in the hopes that Little Caesar's will remain top of mind when it's pizza time. Great Clips, a hair care franchise with over 3,400 locations, offers online check in for clients that would prefer not to wait for a stylist once they arrive at their local salon. Mobile technology use will continue to grow in 2014, and franchisors need to continue finding ways to utilize it for maximum benefit. Loud Franchisees They're starting to get louder. They're starting to have more impact… more clout. "They" are the franchisees. They're the ones who have put their own money on the line in order to be in business for themselves. And some of them are starting to have real impact. Some of them are starting to change things in franchising. For example, several franchisees of McDonald's decided that they're not going to take it anymore. This past summer a group of them banded together and formally complained to corporate about the increasing fees that McDonald's charges them and their shrinking profits. There was also what I'll call, "franchisee feedback" concerning the Dollar Menu, and the lack of profit because of it. Well, someone at corporate listened, because the Dollar Menu is no more. McDonald's franchise owners are a powerful bunch. They're some of most elite in franchising. They have an amazing and very powerful brand (and system) behind them. And, even though their profit margins aren't what they used to be, they really do have a pretty good thing going. They want (for the most part) to stay in business. As opposed to the next group – because they're out of business. Loud Ex-Franchisees Disgruntled ex-franchisees (or soon to be ex-franchisees) are some of most vocal around. For the most part, these franchisees aren't looking for change. They're looking to recoup their losses. A few of them even focus on preventing others from losing their money. You can thank the invention of the Internet and the still-growing popularity of social media for the ease with which dissatisfied franchisees can voice their feelings. A couple of websites immediately come to mind when it comes to learning which franchisors are getting heat from their franchisees. Rip-Off Report I've personally used information from this consumer protection website to assist my clients with their franchise research. A gentleman by the name of Ed Magedson started the Ripoff Report website more than 10 years ago. His stated goal: "To empower consumers by helping them to speak out, share information and fight back against bad business practices." Ripoff Report is a no-holds-barred website that prides itself on honoring free speech. Type "franchise" in the search box and you'll find information on all sorts of things related to franchising.  Everything from supposed faulty heat pumps that were sold and installed by heating and air conditioning franchisees and/or their employees to fitness franchises that possibly went out of business and aren't refunding membership dues are listed. You'll also find complaints from franchisees that have supposedly lost their money on specific franchise opportunities. And, once in a while, there will be a complaint about a franchise broker or franchise consultant who supposedly sold an unsuspecting franchise business buyer a franchise that turned out to be not as described. If you're going to use a website like Ripoff Report as part of your research on a franchise, you have to be willing to do a deeper dig into what you've found. See if you can find out more about the people or companies mentioned in the complaint by typing the name into a search engine and seeing what comes up. Also make sure you mention what you found to your franchise sales rep and to the franchisees that you're contacting as part of your due diligence. That way you can hear both sides of the story. UnhappyFranchisee.com I've known Sean Kelly, the proprietor of UnhappyFranchisee.com, for several years. He's hilarious and can write with the best of them. He's been in franchising longer than me and has heard his share of stories about franchise concepts that didn't quite make the grade. That's probably one of the reasons he launched his website a few years ago. His other reason? Like me, he wants to make sure that today's would-be franchise owners have all the information – the bad and the good – about the opportunities they're thinking of investing in. Fact: Most people who are looking at franchise ownership are doing so for the first time, so there are bound to be mistakes made. But, sometimes the mistakes seem to be made by the franchisor. The Unhappy Franchisee website has several examples. And, as an added bonus, the comment area of the site features ex-franchisees of some of the franchise concepts that have been reported on sharing their true-life stories. Franchising, like any industry, includes great companies, average companies and lousy companies. The trick is to find the ones that excel in their niches. Make sure that your research includes conversations with current franchisees. They're the ones who have already taken the risk. They're the ones who are working in their businesses every day. They're the ones with the answers. There are plenty of good franchise opportunities for you to check out in 2014. I only scratched the surface with these franchise trends for 2014. It's up to you to find one that you feel offers the best chance of success. Franchise Photo via Shutterstock The post Top Franchise Trends For 2014 appeared first on Small Business Trends.

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The Secret to Achieving Resolutions: Setting Small Goals

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The Secret to Achieving Resolutions: Setting Small Goals Posted: 01 Jan 2014 07:00 AM PST The New Year provides an opportunity to start with a fresh, clean slate. However, more than nine out of 10 Americans (92%) will not to keep their resolutions to lose weight, quit smoking, or find romance. It can be the same with the goals small business owners set for themselves to grow revenues or become more profitable. The number one reason why New Year's resolutions fail isn't feasibility or a lack of motivation. The number one reason resolutions fail is all about time. It is easy to become overwhelmed by the goals you set for yourself in the course of the next year. Procrastination is a significant part of the problem. At the beginning of the year, people rationalize “I have over half a year left to do what I said I'd do.” And when the summer months roll around, there is still enough time left in the year that you might not feel a real sense of urgency. Before you know it, the holidays roll around again, and yet the resolution has not been accomplished. Set Achievable Goals “For many people, this depressing chain of events recycles on a yearly basis because far-away deadlines allow us to be slack on execution. Give yourself too much time and you will procrastinate. It's human nature," write Brian P. Moran and Michael Lennington, co-authors of The 12 Week Year: Get More Done in 12 Weeks Than Others Do in 12 Months, Instead, Moran and Lennington advocate setting realistic deadlines that will be better motivators to take action. “Success is all of the little things you do throughout the year to make your goals happen,” they explain. I always advise taking a look at smaller chunks of time when setting goals for a small business. One can compare January to the previous month of December or to January a year ago to gauge what direction the company is heading. Setting a goal of 50 percent growth in a year is noble, but it can be daunting. A smarter way is to plan smaller, more manageable and less overwhelming growth rates for each month of the year. By the time next December rolls around, the overall increase for the year may indeed be closer to the target. Every day should be filled with important, attainable goals. For example, one goal could be as simple as committing to reaching out to one new prospect each work day. Over the course of the year, this could add up to over 200 contacts. Even with a modest success rate of 2%, you could find yourself with four new accounts over the course of the year. If one or two of them are substantial new clients, you may indeed hit projected growth targets. Achieve Little Victories For Big Results By setting  attainable goals and achieving little victories on a weekly basis, the outlook will seem brighter. And, as a result, your commitment to growth will grow throughout the year. In business, as in life, unexpected occurrences can put things out of whack. Natural disasters, such as Hurricane Sandy, set back thousands of small businesses. In 2013, the government shutdown had an unanticipated devastating effect on companies that directly and indirectly rely on federal spending. Machines break down. Key employees leave. New competition arrives in the marketplace. The key is to establish good habits and to have systems in place to spur business growth despite outside influences. Little things that mean a lot over the course of the year include: Committing to contacting a set number of potential clients each week, setting appointments when possible, and keeping them on a regular basis. Improving your record keeping so that you can monitor what’s happening in your business and subsequently implement changes where needed. Paying bills in full and on time in order to increase credit scores in case you need an infusion of working capital or seek to expand. Keeping abreast of changes in technology and making upgrades in order to stay ahead of the competition. Smaller, monthly improvements will add up during the year. Committing to certain tasks and maintaining that commitment will manifest in greater overall performance. Do not set yourself up for failure like the people who aspire to drop 20 pounds or drop two dress sizes and then become depressed and discouraged when it doesn’t happen within two months. The successful individuals will make it a point to drop one or two pounds a week over the course of 10-12 weeks. Set achievable goals, over small periods of time.  They will be easier to reach, and as you reach each goal you will feel motivated because of your small successes. Continually reaching small achievable goals is the key to long-term success — this year and every year. Achievable photo via Shutterstock The post The Secret to Achieving Resolutions: Setting Small Goals appeared first on Small Business Trends.

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Small Business Capital Bill Seeks Less Regulation for VC Investment

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• Small Business Capital Bill Seeks Less Regulation for VC Investment
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• 2014 WordPress Website Trends: What’s Hot and What’s Not

Small Business Capital Bill Seeks Less Regulation for VC Investment Posted: 31 Dec 2013 02:00 PM PST There’s plenty of lip service in Washington about creating a better climate for startups and small businesses. So it’s disappointing to hear that a law designed to do just that is stalled indefinitely thanks to political posturing. But that’s exactly what seems to be happening with the Small Business Capital Access and Job Preservation Act H.R. 1105. The bill was introduced by Congressman Robert Hurt (R-Virginia) earlier this year. It was an attempt to loosen up some of the regulation on private equity companies like venture capital and growth capital firms. Why Startup Investors Need Less Regulation Simply put, these firms invest in startups like Facebook and Twitter when they are small and grow them into huge companies. These companies in turn create jobs and opportunities for smaller contractors and other small businesses. Up until recently, private equity firms were assumed to manage the money of more sophisticated investors less in need of protection by the federal government. So federal regulators who monitor publicly traded stock on Wall Street didn’t bother with these groups much if at all. But all that changed with the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010. Now many private equity firms need to register with federal regulators meaning greater costs and greater regulatory hurtles. In an official release supporting Hurt’s bill, House Committee on Small Business chairman Sam Graves (R-MO) explains: The Dodd-Frank Act creates excessive red tape that inhibits growth, and the costly new requirements on smaller private equity funds is a clear example. H.R. 1105 helps reduce that regulatory burden on private equity funds in a common sense way, so that private sector capital isn't unnecessarily restricted and these funds can remain focused on investments that help grow the economy." In short, critics of Dodd-Frank think the new regulations on private equity may be slowing the flow of capital to startups. Small Business Capital Bill May Not Move Forward Earlier this month, supporters of Hurt’s bill from both parties helped pass it in the House 254-159. But opponents of the new bill like Rep. Maxine Waters (D-Calif.) say relaxing regulation, even on private equity firms, is a bad idea. And the White House has threatened to veto the bill meaning the Senate is unlikely to even consider it anytime soon, reports The Washington Post. Certainly, there is need for some regulation where risk to investors or the public is concerned. But creating regulations that potentially hurt business and investment is a step in the wrong direction. Image: U.S. House of Representatives The post Small Business Capital Bill Seeks Less Regulation for VC Investment appeared first on Small Business Trends.

The 3 Insurance Policies You and Your Employees Should Not Ignore Posted: 31 Dec 2013 11:15 AM PST Despite all the emphasis recently on major-medical health coverage, let’s not forget three other types of insurance policies that can provide valuable protection for you, your employees and respective families in the event of injury or illness. 1. Disability Insurance Only 31 percent of Americans are protected by disability insurance and half of those believe they need more coverage, a 2012 LIMRA and LIFE Foundation Insurance Barometer Study found. Disability insurance helps protect employees' most valuable asset: their income and ability to earn a living. Without steady paychecks, many would find it difficult — or even impossible — to pay the monthly mortgage or rent, car and credit card payments, utility and food bills, education costs, etc. In fact, half of all U.S. households examined would struggle to come up with $2,000 within a month, a study 2013 from the National Bureau of Economic Research determined (PDF). Disability insurance could help alleviate some of the financial stress when disabling accidents lead to tightened purse strings. 2. Cancer or Specified Disease Insurance An estimated 1.6 million Americans were expected to be diagnosed with cancer by the end of 2013. Cancer or specified-disease insurance can go a long way toward helping families focus on recovery, rather than on financial concerns. A supplemental policy can help protect a patient's savings from expenses that aren't covered by major medical insurance. These include deductibles, out-of-network specialists, experimental cancer treatment, travel and lodging when treatment is far from home, child care and household help, and normal living expenses. 3. Life Insurance Finally, life insurance isn't fun to think about, but is crucial to a family's well being should a household suddenly lose an income to death. Without it, a family's entire standard of living could change drastically. Life insurance policies that pay cash benefits can be used to pay remaining medical costs, cover funeral expenses, or pay monthly household bills. They can even be used to ensure a child can do something as simple as continue dance lessons or as momentous as attend college. Women, Too, Need to Pay Attention When providing benefit plans and making benefit choices, it should be self-evident that female employees and female business owners today have concerns just as do males when it comes to continuing the family lifestyle or caring for dependent children in the case of an emergency. Consider these points when it comes to women business owners and women employees: The number of women ages 25 to 64 currently in the labor force with a college degree roughly tripled from 1970 to 2011, according (PDF) to the U.S. Bureau of Labor Statistics. The earnings of these women have also increased in proportion to men’s over the years, the Pew Research Center finds, and Mothers are the sole or primary providers for children in four out of 10 homes, the U.S. Department of Labor has determined. So don’t forget to assess the needs of the female segment of the workforce. Insurance policies photo via Shutterstock The post The 3 Insurance Policies You and Your Employees Should Not Ignore appeared first on Small Business Trends.

17 Top Small Business News Stories of 2013 Posted: 31 Dec 2013 08:15 AM PST A lot happened during 2013 that affects small businesses.  Let’s take a look at the top small business news stories for 2013, as tracked by the Small Business Trends Editorial team: Wearable Technology Gets Attention Wearable technology ranges from Google Glass (the eyeglasses-like computer you wear on your head – image above) to the smartwatch.  Pebble raised a cool $10 million on Kickstarter and started shipping its smartwatch.  Not to be outdone, Samsung unveiled the Gear smartwatch as a companion to the Note 3 phone.   And 2013 saw the concept of the Smarty Ring , which raised almost $300,000 on IndiegoGo. Maybe one day Google Glass will be perched on every head, but that day will be a while coming, if it ever arrives.   Part of the reason is due to privacy concerns people have about being filmed without their realizing it.  Already there are businesses where Google Glass is not welcome. Accounting Software Market Changes Competitors from offshore and with cloud products, challenge the big players in this market. And we are seeing the market stratify, with accounting and financial products designed for various sizes of small businesses: Xero, out of New Zealand and Australia, still has a small footprint in the United States, but raised $150 million in funding in October, to go after the U.S. market. Entrepreneurs and micro businesses are catching on that they don’t necessarily need double-entry accounting software. Freshbooks, out of Canada, is mainly an invoicing and expense tracking software, but calls itself “cloud accounting” now, and has 5 million people using it.  And there are dozens of other invoicing apps that when paired up with downloaded bank and credit card records, provide sufficient recordkeeping to meet the needs of very small businesses. Sage went the other direction. It continued developing and adding features to its Sage One product — combining accounting, invoicing, time tracking, productivity and collaboration features into an all-in-one suite for businesses with under 10 employees. Intuit, the largest player in the U.S. with millions of small businesses using it, went off on yet a different direction, by announcing plans to acquire document aggregator DocStoc. GoDaddy acquired the Ronin invoicing app, pairing it with previously acquired Outright, to create the GoDaddy Bookkeeping software. Online Business Reviews Provoke Frustration, Legal Action Online reviews and local listings that display them continue to be a sore point.  Some of the sites where reviews appear have come across as cavalier and uncaring toward small businesses through poorly implemented review systems and uneven efforts to deal with rampant fake reviews: A sting operation by the New York state attorney general resulted in fines against a number of marketing firms and small businesses for faking online reviews. Yelp sued a business that it alleges was faking its own reviews – after that same business won a small claims case against Yelp.  There’s a lot of “underground” grumbling by small business owners who feel the system is too easily gamed — a common complaint remains that Yelp’s algorithms hide too many legitimate positive reviews, and highlight fake ones by competitors that know how to manipulate the system. Facebook rolled out starred reviews.  The system was promptly given a poor review by some small businesses due to its clumsy implementation. Google managed to confuse small businesses with its  Google Local (Places) Plus and Google+ for Business.  By the end of the year, things started to look better.  In late November, an upgrade was rolled out that allows business owners to manage and respond to reviews left on their business listings.  The Better Business Bureau expanded its pilot program for verified local business reviews. The BBB review system, which is separate from its rating system of A+ through F, seemed to provoke less frustration than some of the other review sites. Twitter Goes Public; Focuses on Revenue and Spam The company went public in November, trading on the NASDAQ under the symbol TWTR.  The stock has gone up and down in the past two months, but currently is up over 40% and the company has a market cap of $35 billion.  That’s more than 16 times the size of the New York Times’ market cap of $2.3 billion. In anticipation of its IPO, Twitter continued rolling out advertising products and improved its business resources.  It announced plans to acquire MoPub, a mobile ad platform.  We expect the focus on advertising and sponsored offerings to only increase, given the need to meet quarterly earnings expectations. Perhaps anticipating closer scrutiny, Twitter changed its spam algorithms, cracking down on DM spammers and other abusers.  We saw a spate of legitimate small business users having their Twitter accounts banned in error – apparently it is now trickier to follow a lot of accounts without tripping a spam filter. Scrutiny Increases on Content Marketing Content marketing continued to grow in 2013.  We published not one, but two lists of content marketing books during 2013, so that ought to tell you how much interest there is.  Native advertising also grew — native advertising comes in many forms, but newspapers have long published a form called advertorials. Guest blogging and advertorials became so popular that they were over-used and abused by some.  It seemed like an epidemic of plagiarism and “spun” articles.  Fake writers and rings of “made-for-links” sites proliferated.  What was the goal?  Build links. In May of 2013 Google’s head of Web spam, Matt Cutts (pictured above), spoke out and explained how advertorials need to be handled under Google’s guidelines.   Then later Cutts cautioned against “low quality” guest blogging.  The U. S. Federal Trade Commission also updated its advertising guidelines to address disclosures needed in social media. There will always be value in high quality content in marketing.  But 2013 was the year that saw abuses of content explode, and a resulting crackdown start. Counterfeits and Mass-Produced Goods Irk Entrepreneur Artisans Etsy was originally set up as a marketplace for handmade items — and supposedly a refuge from mass-produced stuff.  But shop owners, who number nearly one million on Etsy and are mostly entrepreneur-artisans and small businesses, have been vocal about mass produced goods being allowed.  Even Etsy’s “be honest” rule is not enough, some say. Some hand-crafted items from Etsy also are copied. Fakes end up on wholesale sites such as Alibaba. Alibaba, through founder Jack Ma (above), announced an anti-counterfeiting campaign in advance of its rumored 2014 IPO.  While counterfeiting is often thought of as a “big brand” type of plague, it also affects small businesses like artisans. Obamacare Confusion Reigns The year 2013 has been one of confusion.  With many media reports being politically motivated either left or right, millions of small businesses had a tough time getting good information about healthcare options. Here are some key facts: An estimated 5 million people had their health insurance policies cancelled or costs increased for individual policies, due to the Affordable Care Act requirements.  The cancellations and higher premiums hit self-employed freelancers and small business owners as a group hard, because they tend to have individual policies. The Federal healthcare.gov website rollout was almost universally regarded as a disaster.  On a positive note, some website improvements have been made since October and it seems to be getting better. Many government workers and other select groups have been exempted from the new healthcare law.  Larger employers (including small businesses with 50+ employees) got a one-year delay in their employer requirements, until 2015.  But that delay does not benefit the estimated 5 to 7 million self-employed and small business owners who rely on individual policies. The online SHOP exchanges, which are supposed to enable small businesses with fewer than 50 employees to shop for affordable coverage (and in some cases get tax credits), were delayed until November 2014.  Small businesses can still use the SHOP exchanges — they just have to apply through brokers or by mail. The words of Professor Scott Shane take on added meaning: “Despite (or because of) our policy makers' efforts, employee health insurance remains a burden for small business owners. ***  Only time will tell whether our policy makers' efforts to help have alleviated or exacerbated the problems.” Social Media & Mobile Valuations Hit Records Are we living through another tech bubble, like the Dot Com bubble of 2000?  Judging from some of the valuations, possibly. Remember Instagram, the company with no revenue that was valued at $1 billion back in 2012 when Facebook acquired it?  The year 2013 saw a redux of sorts, when Snapchat’s 23-year-old founder turned down an offer of $3 billion from Facebook.  Meanwhile, at least 16 million small businesses had Facebook pages, and Facebook was placed on the S&P 500.  Despite all that success, a report by Oklahoma Senator Coburn suggests Facebook will for the second year in a row pay zero taxes. Yahoo, trying to reinvent itself, acquired Tumblr, a blog platform known for its porn, for $1 billion.  Shortly thereafter, Tumblr jumped on the sponsored posts bandwagon. And Yahoo is currently a Wall Street darling, with its stock price at a five-year high. If you want to create a high-valuation startup, mobile and social are hot spaces to be.  At least for now. Traditional Tech Companies Retrench, Reinvent Remember those traditional technology companies so many of us run our businesses on?  Here’s what happened with a few of them: Dell went private again after a battle by Michael Dell to retain ownership of the company he founded in his dorm room in 1984.  Dell expanded its traditional laptop and desktop computers to include tablets and tablet hybrids. It is aggressively investing in innovative startups, acquiring other companies, and entering into partnerships to reinvent itself into a combined hardware, cloud software and services company. Microsoft announced the retirement of CEO Steve Ballmer as it began its own reinvention with strong moves toward mobile.  Along with aggressive marketing campaigns for its Windows Surface and RT tablets, Microsoft made a bid to acquire Nokia to gain a bigger footprint in the mobile space. BlackBerry – well, pundits have been predicting its demise for the past two years.  After the disappointing launch of BlackBerry 10, the company changed CEOs in November.  For awhile it planned to go private, then scrapped that.  Right now the focus seems to be on serving businesses in regulated industries and government. Netting it out: the changes at Microsoft and Dell are good news for small businesses. BlackBerry is becoming less of a player in the small business market with each passing month. Phones Get Bigger, Tablets Smaller, Voice Minutes Go Away Mobile devices become big then get cheaper. We saw plenty of data about the increased popularity of mobile devices with consumers this year. And manufacturers responded with more phones and tablets. There were also hybrids like the phablet. And then the devices started getting cheaper too. The responsive Web design approach gained steam.  Instead of creating a separate .mobi site, today a responsive design can make sure all visitors experience your site in the best possible way – whether they are using a smartphone, tablet or computer. Voice minutes are becoming almost a thing of the past in the United States. The reason is that mobile carriers have realized charging for data transfer is the more lucrative approach. Carriers are beginning to do away with hardware subsidies, too. Apple, meanwhile, announced that its app store had generated $10 billion in revenue for the third-party developers. The demand for mobile apps on other sites like Google Play also is strong. Grumpy Cat and Gangnam Style Memes Cool Off Two of the hottest viral memes  in recent memory became big news this year and later faded. Though the Gangnam Style video was posted in 2012, by 2013 it had became the most watched online video in history. Grumpy Cat still has her fans, but the adorable cat (pictured above) is not quite as hot. Independent Worker Marketplaces Grow, Merge oDesk and Elance announce a merger. The two online freelance marketplaces decided to pool resources. That fact, along with 30+ other freelancer sites, shows how the labor market is changing, with more hiring of independent workers being done online. Crowdfunding Sites Grow Sites like Kickstarter and Indiegogo became instrumental in funding startup projects. And sites like CrowdBrewed are springing up to represent niche markets like brewing. Meanwhile, the SEC issued “no action letters” that made it a bit easier to do online venture and angel crowdfunding. Internet Sales Tax Heats Up, Stalls The issue continues to divide small business owners, depending on their business interests.  An effort to pass national legislation — the so-called Marketplace Fairness Act — appears stalled in Congress.  Meanwhile, various states tried attacking related issues from another angle, by taxing affiliate marketing. Printing Evolves From Laserjet to 3D Traditional printing remained in demand, despite our move to electronic data. The HP laserjet turned 30 years old and HP shipped its 200 millionth printer. But 2013 also was the year that saw 3D printing start to hit the mainstream (image above). Some UPS Stores now offer 3D printing to customers. Bitcoin: Sound and Fury, Signifying Nothing? Bitcoin, the alternative virtual currency, was much discussed throughout 2013.  Some Web entrepreneurs use it because it makes it harder to track their money.  However, Bitcoin has a long way to go to catch on with mainstream small businesses. Privacy and Security Woes Increase By now you’ve read about the NSA reading emails and listening to phone calls.  But it’s not only the government digging into your privacy.  News came out that Facebook knows more about you than you might think.  And hackers found small businesses to be easy targets. The post 17 Top Small Business News Stories of 2013 appeared first on Small Business Trends.

2014 WordPress Website Trends: What’s Hot and What’s Not Posted: 31 Dec 2013 05:00 AM PST The popularity of CMS-based websites has been growing constantly, and WordPress is the most used platform by far. At least 19 percent of the entire Internet is powered by the WordPress platform. This number includes nearly half (48 percent) of the top 100 Technorati blogs, as well as some of the largest websites in the world – Ford Motor Company and NASA, to name a few. In 2014, that number is expected to increase. In the 10 years since its launch, WordPress website trends have come and gone. Below are some of the latest emerging 2014 WordPress website trends that you can expect to see more of in the new year – and some of the features that have fallen by the wayside. 2014 WordPress Website Trends: What’s Hot Speed, Simplicity, Standout Backgrounds Fast loading times are crucial for a successful website today. With more people than ever accessing the Internet on mobile devices, the trend is toward websites that are simple and easy to navigate, yet elegant and interesting. Look for these WordPress features to rise in popularity during 2014: Typography Over Images Through simple add-ons like Typekit, more WordPress websites are creating great looks with the use of distinctive fonts. Previously, most websites were limited to using standard fonts like Arial, Times New Roman or the dreaded Comic Sans, with the process of displaying custom fonts limited to hand-coded or designer sites. Now just about any font style can be displayed through easy-to-use technology and more WordPress sites are incorporating stunning typography to help them stand out. Flat Websites The latest digital interfaces, including Windows 8 and iOS 7, shy away from fancy design elements like gradients or shadow, and instead rely on the use of color to make things pop. This trend is also surfacing in WordPress websites. Clean and simple layouts with strategic color placement are the basis of the sleek, modern designs you can see reflected in many WordPress templates and custom websites. Expect this WordPress website trend to continue through 2014. Single Page Websites Potentially inspired by navigation challenges on mobile devices, there have been plenty of these simplified WordPress designs popping up lately. Simple, yet elegant, single page websites contain all of the main content in one page. When you click on a "menu" item your view shifts to another area of the same page, rather than changing the URL and loading a new page. Some examples of single page WordPress templates include the free One Page from WordPress, and paid themes like Renova, Stylos, and Interion. Full Width Background Images While simplicity is trending high, style and professionalism are still important facets of a successful site. One way many WordPress websites are bringing their designs to life is through the use of page-width imagery, usually with a hi-definition photo as the background. 2014 WordPress Website Trends: What's Not Lag-Prone, Slow Loading Page Elements In a world built on speed, most WordPress websites are shedding anything that slows them down and makes navigation cumbersome. These outgoing elements include: Frames A popular page-within-a-page layout style for many years, frames can make for a dramatic website. Unfortunately, they also slow down loading times and make for SEO (search engine optimization) unfriendly pages that can bring searchers to random content outside the main website. PDFs as Pages While it's fairly easy to insert a PDF document as a page into a WordPress website, it's also cumbersome and most visitors don't appreciate the shift from viewing a standard Web page to downloading a PDF, especially on mobile devices. PDFs also have a tendency to crash browsers. Flash and Animations In the battle of Flash versus HTML5, the more dynamic HTML5 is far ahead. This is particularly true in the mobile market, with iOS devices not supporting Flash display. Other types of animations, such as Gifs, are also being left behind due to the drag on loading times. It's shaping up to be a great year for simplifying and transforming your website using the latest 2014 WordPress website trends. Begin to envision your Web presence for 2014 now. Hot Trends Photo via Shutterstock The post 2014 WordPress Website Trends: What's Hot and What's Not appeared first on Small Business Trends.

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