NFIB

Managing: News from the Small Business Front
03/ 25/ 2002

The Source of it All

Most of America's big corporations trace their founding back to one or more entrepreneurs, according to a report by The National Commission on Entrepreneurship.

The report, "From the Garage to the Boardroom," found that most of America's Fortune 200 companies owe their beginnings to the efforts of a few entrepreneurial people.

"Policymakers would do well to more fully understand this dynamic because it's the high-growth companies of today which are creating most of the economy's jobs and wealth," said Patrick Von Bargen, executive director of the nonprofit Commission. Find the full report online at www.ncoe.org/research.

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Amazon Woos Small Businesses

Amazon.com has launched a corporate accounts program to attract small business owners to its Web site.

The accounts let small business owners buy books, software, electronics and tools online without using a credit card. Go to www.amazon.com/corporate for details.

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Tax Break for Child Care

As part of the tax cut legislation signed into law in June, small business was awarded a tax credit of 25 percent for eligible child-care expenses. That doesn't mean you have to build your own child-care center. The credit can be used to cover expenses incurred by consortiums of employers who work together to provide child care. You can also receive a 10 percent credit for what you pay to offer employees child-care "resource and referral." This is a service that gives employees information about community child care.

Details are still being worked out, but you should contact your accountant to figure out what the law, which takes effect Jan. 1, 2002, means to your business.

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Buy like the Big Guys

A new Web site, www.overstockb2b.com, lets small businesses take advantage of excess inventory and closeouts from big companies. The site offers name brands like Toshiba, Kodak, Fila and Sony and claims discounts of 40 to 70 percent.

The Salt Lake City-based company also provides a channel for manufacturers, retailers and e-tailers to liquidate excess inventory.

Before checking out prices, you have to register, a process that takes about 10 minutes. For orders over $250, shipping is free.

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This article originally appeared in the November/December 2001 issue of MyBusiness Magazine, NFIB's member magazine.

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