Small Business Administration

Small Business Administration
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1. How do you define small business? Is that in accordance with accepted business terminology?

2. The Small Business Administration defines a sole proprietorship as “an unincorporated business owned and run by one individual with no distinction between the business and you, the owner. You are entitled to all profits and are responsible for all your business’s debts, losses and liabilities.” Sole Proprietors do indeed take on the entire financial risk of their business. Yet, there are 23 million sole proprietorships in America today. This is more than the current number of 1.7 million traditional C corporations, and the 7.4 million partnerships and S corporations. So, what is it that makes the financial risk of sole proprietorship worth starting that business structure?

https://www.sba.gov/content/sole-proprietorship-0
http://taxfoundation.org/blog/us-has-more-individually-owned-businesses-corporations
3. We look at the role of accounting in business today and that raises the question of “What role does IT play in Business Accounting?”

Technology is developing in leaps and bounds and many agree with Intuit in their prediction that, “… technology will increasingly be woven into the fabric of the accounting industry in the next decade. The profession will be reshaped as accounting firms use Cloud computing platforms and applications, combined with advanced analytical tools, large data sets, and social and mobile computing.”

Account Executive, David Freeman, states, “Aside from learning through practical experience and taking advantage of educational opportunities, there will seemingly be a continual need for trustworthy, bilingual (business speak/IT speak) consultants who can provide the objective advice and assistance to help accountants make good business oriented decisions around IT”

Being able to communicate with accountants in order to help them make sound business decisions in terms of IT is an essential skill for today’s IT professional.

http://www.accountingweb.com/article/intuit-looks-technologys-role-accountings-future/222633
http://smartdatacollective.com/david-freeman/81591/technologys-impact-accounting-and-business

4.
Definition: COPE (corporate-owned, personally-enabled) COPE (corporate-owned personally-enabled) is a business model in which an organization provides its employees with mobile computing devices and allows the employees to use them as if they were personally-owned notebook computers, tablets or smartphones. (searchConsumerization.com)

This is different than BYOD (bring your own device) , where employees bring their devices to work to use for work purposes.

Anyone have experience with either of these models?

5.
When I first started with computers in the late 1980’s, the vision was that everyone would adopt technology and the ‘paperless office’ would naturally evolve. Well nearly twenty years later, we are still dreaming of the paperless office. However, today it can be a reality! True there are some aspects of certain businesses that must be paper – such as blue prints. Yet, today we have the means to truly adopt a paperless environment.
Some of the obstacles faced include 1) changing habits, 2) setting up a secure backup, and 3) having digital documents with fillable forms and signature capabilities. Upgrading to a network system that creates emails to faxes and can digitally sort and file is essential for the smooth functionality of the digital office.

About eleven years ago, I went into my family doctor’s office and discovered that he had implemented an all-tech office. The doctors and nursing staff each have personal computers that are networked. Here they can see any patients records, add new data, and write orders and prescriptions. They can see digital versions of x-rays and other medical tests from area hospitals; everything is digitized.

In the businesses and organizations I have worked with the greatest concern was having ‘backups’ for data. “What if our network crashes?” is a common question. Today, with so many options for secure online storage, portable hard drives, and system backups, the issue is finding the best solution for one’s needs.
The second major issue is establishing processes and setting up the pathways for which digital documents and data will be managed. File and folder naming is a simple yet critical step in an effective office.

Mashable.com offers this short article on “5 Simple Tools for a Paperless Office”, that highlights software products that will facilitate establishing a paperless office for any small business. http://mashable.com/2010/05/01/small-business-paperless/

Small Business Administration

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