Welcome!

Search Authors: AppDynamics Blog, Gilad Parann-Nissany, Elizabeth White, Liz McMillan, Jnan Dash

News Feed Item

Rocket Lawyer Releases the 2013 Small Business Index

Small Business Optimism Is up While Economic Recovery Remains the Most Important Issue for Small Businesses

SAN FRANCISCO, CA -- (Marketwire) -- 01/30/13 -- Optimism rang in the New Year according to a recent Rocket Lawyer survey of more than 700 small businesses across the country. To maintain the positive momentum, SMBs expect the Obama administration to focus on keeping the economic recovery on track, as government's top priority.

An impressive 81 percent of small business owners surveyed by Rocket Lawyer expect 2013 to be a better year than 2012. Over half (56 percent) of businesses are doing well as 8 percent said that business is booming and 48 percent said they were growing and meeting expectations. However, less than half of the potential employers will be hiring new workers, 65 percent report that they are not planning to hire in the next six months.

The New Boomers:
The survey found that one specific demographic is thriving economically: millennials (ages 18-30). The majority of millennial small business owners (68 percent) saw growth in 2012, and an additional four percent said business was booming. Additionally, 42 percent of millennials are planning to hire in the next six months -- more than any other age group.

Economy:
Over half of SMBs (53 percent) said the President's top priority should be the economy. When we asked small business owners about their hopes and concerns, the economy also topped both lists -- 27 percent said an economic recovery was their top hope for the second term and 21 percent said it was their top concern. Additionally, when asked what the President could do for them in his second term, 39 percent said tax breaks and 37 percent said incentives for entrepreneurship. Not surprisingly, an increase in taxes is the top fear of respondents, and almost half of business owners (47 percent) would not be willing to pay higher taxes to reduce the federal budget deficit.

Legal:
When it came to legal issues, over half (55 percent) of small businesses faced a problem in 2012, slightly up (3 percent) from 2011. The most frequent legal issue faced was contract negotiations (23 percent), followed by the failure to collect payments (15 percent) and real estate transactions (13 percent). The biggest legal concern remains compliance with government regulations (27 percent), slightly down from last year at 33 percent but it still remains a hot button issue.

"It's astonishing that almost half of small businesses (47 percent) have never consulted with a lawyer. Good legal counsel is essential and can certainly be a competitive advantage for business owners who have to manage both opportunities and potential risks," said Charley Moore, founder and executive chairman of Rocket Lawyer. "However many SMBs are still under the misconception that legal advice has to be complex and expensive. The next quarter, not to mention the next couple of years, could bring significant changes to small businesses, and some will be out of the owner's control. With the right legal representation, fortifying the legality of your business is something every owner has the power to do."

Tips for Starting the New Year

1. Keep Good Counsel

More and more people are beginning to understand the value of regularly consulting with an attorney rather than waiting until they need one. A good business attorney can be the difference between success and failure. Consult a lawyer for big legal decisions your company makes. It's better to pay a little up front than a lot down the road.

2. Get it in Writing

Whether it's a new employee or a repeat client, never assume anything. Contracts provide both parties with their obligations, rights, and responsibilities and while they don't guarantee the other party will make good on the agreement it does guarantee that a court will look kindly on you if they don't.

3. Take Advantage of Tax Tips

Washington D.C. Tax attorney Mark L. Rosenberg explains that the most important thing every small business needs to understand is the fiscal cliff legislation and the differences it made to tax law:

"Small business owners need to listen up as the following changes will certainly affect 2013 tax planning: Most importantly, Bush era tax cuts were preserved for all those with income under $450,000 ($400,000 for individuals) which is really most small business owners. For taxpayers who earn over $300,000 for joint filers ($250,000 for individual filers and $275,000 for heads of household), deductions begin to phase out at income levels above that amount. This means that the effective rate of tax will increase, since deductions will be worth less to those taxpayers."

In addition, the payroll tax holiday is over, which means that all employers will pay the full 7.65 percent Social Security/Medicare tax on each employee's earnings. Also the maximum wage cap for payment of Social Security taxes has been raised from $100,100 in 2012 to $113,700 in 2013. These changes will present some new planning opportunities for small business owners and they should check with a tax adviser (an attorney or accountant) on ways of structuring their business to plan properly."

About Rocket Lawyer™
At Rocket Lawyer, we believe everyone deserves easy and affordable legal services. Since 2008 we've helped over 20 million families and small businesses take care of their legal matters -- so they can focus on what really matters. From free legal documents to discounted rates from outstanding attorneys, we're here to help every step of the way. For more information on Rocket Lawyer, please visit http://www.rocketlawyer.com and follow Rocket Lawyer on Twitter, Facebook and Google+.

About the Survey:
This survey was conducted by Rocket Lawyer November 29 - Dec 4, 2012, among 700+ nationwide small business owners who are Rocket Lawyer members or have used Rocket Lawyer's services. The margin of error is 3.58 percent.

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2214913

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com), moderated by Ashar Baig, Research Director, Cloud, at Gigaom Research, Nate Gordon, Director of T...
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada. Our partner network encompasses some 300 of the world's leading systems integrators and security s...
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas.

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...

The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential.
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Nigeria has the largest economy in Africa, at more than US$500 billion, and ranks 23rd in the world. A recent re-evaluation of Nigeria's true economic size doubled the previous estimate, and brought it well ahead of South Africa, which is a member (unlike Nigeria) of the G20 club for political as well as economic reasons. Nigeria's economy can be said to be quite diverse from one point of view, but heavily dependent on oil and gas at the same time. Oil and natural gas account for about 15% of Nigera's overall economy, but traditionally represent more than 90% of the country's exports and as...
The Internet of Things is a misnomer. That implies that everything is on the Internet, and that simply should not be - especially for things that are blurring the line between medical devices that stimulate like a pacemaker and quantified self-sensors like a pedometer or pulse tracker. The mesh of things that we manage must be segmented into zones of trust for sensing data, transmitting data, receiving command and control administrative changes, and peer-to-peer mesh messaging. In his session at @ThingsExpo, Ryan Bagnulo, Solution Architect / Software Engineer at SOA Software, focused on desi...
"At our booth we are showing how to provide trust in the Internet of Things. Trust is where everything starts to become secure and trustworthy. Now with the scaling of the Internet of Things it becomes an interesting question – I've heard numbers from 200 billion devices next year up to a trillion in the next 10 to 15 years," explained Johannes Lintzen, Vice President of Sales at Utimaco, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"For over 25 years we have been working with a lot of enterprise customers and we have seen how companies create applications. And now that we have moved to cloud computing, mobile, social and the Internet of Things, we see that the market needs a new way of creating applications," stated Jesse Shiah, CEO, President and Co-Founder of AgilePoint Inc., in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the industry’s first all flash version of HyperConverged Appliances that include both compute and storag...
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile devices as well as laptops and desktops using a visual drag-and-drop application – and eForms-buildi...
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...
Code Halos - aka "digital fingerprints" - are the key organizing principle to understand a) how dumb things become smart and b) how to monetize this dynamic. In his session at @ThingsExpo, Robert Brown, AVP, Center for the Future of Work at Cognizant Technology Solutions, outlined research, analysis and recommendations from his recently published book on this phenomena on the way leading edge organizations like GE and Disney are unlocking the Internet of Things opportunity and what steps your organization should be taking to position itself for the next platform of digital competition.
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
As the Internet of Things unfolds, mobile and wearable devices are blurring the line between physical and digital, integrating ever more closely with our interests, our routines, our daily lives. Contextual computing and smart, sensor-equipped spaces bring the potential to walk through a world that recognizes us and responds accordingly. We become continuous transmitters and receivers of data. In his session at @ThingsExpo, Andrew Bolwell, Director of Innovation for HP's Printing and Personal Systems Group, discussed how key attributes of mobile technology – touch input, sensors, social, and ...