Proliferation of Small Businesses Creates Opportunities for Those Who Serve Them

Posted on April 5, 2012 by admin

Accounting Franchise HandshakeWhen the recession that began in 2007 took its toll on the job market, a significant portion of the unemployed decided to become self-employed. Having experienced first-hand the insecurity that can come with working for someone else, many people who lost their jobs decided out of necessity to pursue small business opportunities or entrepreneurial ideas that they may have been contemplating for years.

Whether starting up a new company, buying a franchise or exploring home-based business opportunities, people by the hundreds of thousands have struck out on their own in the last few years. At one point in 2009, USA Today reported that nearly 10 percent of job seekers who found employment did so by starting their own businesses and employing themselves. In 2010, a study by the Kauffman Foundation found that startup businesses were being created at a rate higher than at any time in the previous 15 years. According to the Foundation, that amounted to 565,000 businesses created in 2010, a number that’s in line with business-creation numbers reported by the Office of Advocacy of the Small Business Administration.

This proliferation of small businesses opens up opportunities for those who can provide the goods and services that businesses need to operate. And while the needs of businesses can vary greatly according to the industry they’re in, they do have some basic things in common. All companies keep financial records and pay taxes, and any business with employees must calculate payroll and disburse paychecks on a regular basis. These routine nuts-and-bolts administrative functions are the kinds of things that business owners can and do outsource in order to free up their time to focus on more strategic aspects of their operations.

Accounting business opportunities abound in today’s economic environment, with so many small businesses starting up and potentially in need of expert financial help such as bookkeeping, accounting, tax and payroll services. Padgett Business Services, the small biz pros, has been providing small business services since 1966, and we’ve offered accounting franchises for sale since 1976. By opening a franchise and joining the Padgett team, you can enter the business services market with a trusted and respected name backing you.  Call us at 866-729-8725 to find out more about the exciting accounting franchise opportunities that Padgett Business Services has to offer.

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Rating the States for Their Friendliness to Small Business

Posted on March 30, 2012 by admin

If you’re eager to start a new business and you want to do it in the most business-friendly state in the Union, you might want to try South Dakota. If the thought of winter on the northern plains scares you, then you might take your startup to Nevada or Florida instead. According to the Small Business & Entrepreneurship Council, those states are among the top 10 in the country when it comes to laws and public policy that favor small companies.

For the past 16 years, the SBE Council’s “Small Business Survival Index” has ranked the states according to their favorability toward small business and entrepreneurship. At the top of the list for 2011 were South Dakota and Nevada. The 50th-ranked state was New York, and Washington, D.C. was once again at the very bottom of the list in 51st place.

Each year, the index compares public policy in the 50 states and the District of Columbia on various factors important to business competitiveness such as taxes, regulatory costs, government spending and debt, property rights, health care policies, energy costs and more. The SBE Council expanded the index for 2011 to take into account 44 major government-imposed or government-related costs that affect small businesses and entrepreneurs. Each state was assigned an overall rating and ranking based on a combination of the 44 different measures.

“Elected officials have a clear choice,” writes Raymond J. Keating, SBE Council chief economist and author of the studies used to assemble the index. “They can expand government, tax too much, and over regulate, and thereby restrain entrepreneurship, small businesses and the economy. Or, they can provide a climate of low taxes, reasonable regulation, and limited government spending, which is critical for economic, income, and employment growth.

“State and local lawmakers need to be pro-active in advancing pro-growth policies,” Keating continued.  “Unfortunately, as illustrated by the ‘Small Business Survival Index,’ too many elected officials just don’t get it, and impose costly policies that chase away entrepreneurs, businesses, capital and jobs. But policy leadership is being provided in the states that rank best on the index. That’s … good news for entrepreneurs, small businesses and investors.”

While the SBE Council’s Survival Index provides one of the most comprehensive studies of public policy in each state as it relates to business and entrepreneurship, there’s not necessarily a direct correlation between a state’s position in the index and actual rates of small business ownership. One professor of entrepreneurship studied the SBE Council’s 2010 rankings and found only a weak correlation between a state’s SBE score and its number of small businesses per capita (defined as establishments with fewer than 500 employees). The state with that highest number of small businesses per capita, Wisconsin, ranked 31st on the index that year (it moved up to #24 in 2011). The professor found no correlation at all between a state’s ranking and its number of small business startups or closures for the year.

The top ten states in the 2011 index were, in order, South Dakota, Nevada, Texas, Wyoming, South Carolina, Alabama, Ohio Florida, Colorado and Virginia. Making up the bottom ten were Massachusetts, Minnesota, Connecticut, Maine, California, Rhode Island, Vermont, New Jersey, New York and the District of Columbia.

The SBE Council is expected to release its 2012 Survival Index toward the end of the year.

Padgett Small Business Services®, the small biz pros, offers small business opportunities in every state, with accounting franchises for sale from coast to coast in both the United States and Canada. If you’ve been exploring accounting business opportunities or home-based business opportunities, consider joining the Padgett team. We’re a family that’s 400+ strong and growing. Call Padgett Business Services®  today to find out more at 866-729-8725.

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Franchising is a Win-Win Proposition for Franchisees, Franchisors and the Economy

Posted on March 15, 2012 by admin

Accounting Franchise HandshakeFranchising offers some of the best small business opportunities available in North America today. Franchised businesses also make significant contributions to the U.S. and Canadian economies.  About 750,000 franchised establishments will be in operation in the United States in 2012, according to the International Franchise Association. The Canadian Franchise Association reports that more than 78,000 franchise units are operating in Canada. In both countries, activity directly and indirectly related to franchised businesses is estimated to account for about 10 percent of the economy.

Why is franchising such a popular business concept? Simply put, it offers advantages for everyone involved – franchisors, franchisees, employees and consumers.

Successful businesses offer franchises for sale as a way of expanding their brand outside the city or region where they started. Franchisors can tap into the knowledge of local markets that franchisees already possess, while teaching them how to make the most of that knowledge. Franchisors choose franchisees carefully, looking for entrepreneurs who will preserve and protect the company’s good reputation while advancing the brand even further. Franchisors want team players who will follow their proven systems while being alert for ways to improve them. The best franchisee ideas can then be adopted into the system for the benefit of all.

For franchisees, the benefits are many:

  • a greater statistical chance of success – over both the short and long terms – than starting a business from scratch and “going it alone”
  • a shorter time frame from starting the business on paper to actually opening and bringing in revenues
  • thorough training in a successful business system
  • franchisor assistance in locating a site for the business, if necessary
  • support and advice from fellow franchisees
  • franchisee conferences
  • the goodwill of a recognized and respected brand
  • an established  and successful business model to follow
  • advertising and marketing support and guidance
  • internet exposure through a prominent national website that helps potential customers locate their local franchise

It’s true that for some would-be business owners who prefer complete independence and the chance to succeed or fail without a safety net, buying a franchise might not be the way to go. But for those who have an entrepreneurial spirit and a desire for camaraderie, partnership and the chance to be part of a winning team, franchising can be the perfect solution.

Franchise operators have a chance to become stars not only in their franchise system, but also in their communities as they provide valuable services and create jobs. Franchised businesses employ more than 9 million people in the U.S. and more than 1 million in Canada. Employees of a franchise have the assurance that they are working for small business that is likely to be stable and successful because it is following a proven system.

Padgett Business Services, the small biz pros, has been offering accounting franchises for sale since 1976. Padgett’s accounting business opportunities are considered among the very best in North America. We’re an established brand with more than 400 offices coast-to-coast in both the U.S. and Canada. If you’re looking for an accounting business for sale, call Padgett Business Services today at 866-729-8725 or in Canada at 800-363-3123.

 

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Franchisors Help Entrepreneurial Vets Through Voluntary “VetFran” Assistance Program

Posted on February 15, 2012 by admin

Franchise Opportunities for VeteransSome veterans of the U.S. armed forces return from their deployments looking to transition into civilian life as something more than an employee. With self-confidence, leadership abilities and organizational skills instilled by their military training, a relatively large proportion of America’s veterans come home seeking out small business opportunities.

Choosing entrepreneurship over nine-to-five employment is a natural for many vets, especially when poor economic conditions continue to make finding a job difficult. And statistically, unemployment for veterans as a group is even higher than the national average, despite federal government programs that give employers added incentives to hire them.

The nation’s franchising companies have stepped in to give veterans a hand in starting businesses through a program called the Veterans Transition Franchise Initiative, or VetFran. Through the program, franchisors help veterans acquire franchises more easily by voluntarily offering various forms of financial assistance such as reduced initial franchise fees, waivers of training costs and free product inventories.

Going into business by buying a franchise is a great fit for former members of the armed forces, because performing well in the military often means learning to work within and follow a proven process or system. That’s exactly what franchising is all about – buying into a successful system and having the discipline to follow an established formula for success.

The VetFran program was initiated by the International Franchise Association (IFA), the world’s oldest and largest organization representing franchising companies worldwide. The IFA initially launched VetFran about 20 years ago, in the aftermath of the first Gulf War. VetFran was revived after the September 11 attacks and the ensuing increases in military service and in overseas deployment of U.S. troops.

More than 400 companies are currently participating in VetFran, which has helped more than 1,500 veterans to start a franchise with the assistance of discounts extended by franchisors that now total in the hundreds of thousands of dollars.

The goal of owning a franchise may be even more attainable in the future for America’s veterans thanks to IFA-supported legislation currently pending in Congress. The bill, called the Help Veterans Own Franchises Act, has bipartisan support and would give incentives to franchisors to offer discounts to veterans by providing a tax credit based on a percentage of the discounts granted. Veterans themselves would also be able to take a credit against part of the franchise fees that they pay.

Padgett Business Services, the small biz pros, is a proud participant in the VetFran program. Padgett offers accounting franchises for sale and has franchise opportunities all across the country for veterans who want to become civilian entrepreneurs. Padgett has served small businesses since 1966 with professional bookkeeping, tax and payroll services, and is a trusted and respected name in the small business community.

Call Padgett Business Services today at 1-866-729-8725 to learn more about how we can help you reach your goal of business ownership.

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Franchises Bridge the Entrepreneurship Gap for Small Business Success

Posted on February 2, 2012 by admin

Small Business SuccessSmall business opportunities abound even in spite of today’s difficult economic conditions. Some would even say that entrepreneurship is on the rise in the United States precisely because of the economic upheaval of the past few years. Unfortunately, without the right kind of knowledge, guidance and support, many would-be entrepreneurs will fail.

Perhaps the most difficult part of going into business for yourself is making the jump from technical expert to the role of entrepreneur/business manager. Having thorough knowledge of a particular field, such as accounting, is obviously a solid foundation for starting a business in that field. But technical expertise alone is not enough to ensure small business success.

Business author and consultant Michael E. Gerber uses the term “entrepreneurial myth,” or E-myth, to describe the mistaken belief that technical or subject-matter knowledge by itself necessarily translates into a successful business operation. Gerber thinks the E-myth is responsible for many misguided and ultimately unsuccessful entrepreneurial efforts.

The fact is that performing a certain kind of work as an employee, no matter how long and how well you’ve done that type of work, only partially prepares you for the task of running an organization that sells the same kind of services in the marketplace.

Buying an existing independent accounting business for sale may supply name recognition and a list of clients, but it won’t buy business mentoring, entrepreneurship advising or managerial training. And even the former corporate accountant who does well initially with an accounting business opportunity as a sole proprietor may be frustrated in his or her attempts to grow the business later on.

One of the more secure ways to enter any field of business is through buying a franchise. The success rate of new franchised businesses is much higher than that of non-franchised ones, precisely because the franchising model addresses the E-myth problem. Whatever a particular franchisee lacks in the knowledge needed to run and grow a company, the franchising organization can supply. A franchisor knows the market for their products and services and the methods to successfully deliver them to customers in a profitable way. And by definition, a successful franchisor knows how to plan for growth and how to scale up a business when the time comes to expand.

Padgett Business Services’ accounting franchises for sale are an excellent value because Padgett has more than 35 years of experience helping people to become savvy business owners while doing something they love. Our ability to make the most of our franchisees’ accounting experience and their entrepreneurial drive through our proven model for success is why Padgett is one of the top franchisors in the United States today. Call Padgett Business Services, the small biz pros, at 1-866-729-8725 to learn more about how we can help you realize your vision of successful and rewarding business ownership.

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