Tips for Staying Healthy in a Bad Economy

I am sure you have had to hear some elder in your own family tell you, "Eat your vegetables, they will make you grow up strong and healthy!" As luck would have it, they were right. A true key to staying
healthy, is a proper diet, exercise, and cleanliness. Before the white man came to America, the Possum was the closest thing to "Junk Food" the Indians had, to compare to. With things like Chocolate, sugar, and tobacco, (to list a few,) being introduced into the western world, came rotten teeth, obesity, and lung cancer.

Now, it's not the products, so much, as it is the person's fault, who is using them. Addiction, abuse, and good old gluttony, is the true beast here in the western world. Knowing what it is your putting into your body, is as important to your health, as how much your putting into your body. Some things we eat can do more damage if abused, than other things do, such as, salt or sugar. I do not know any one who would drink one cup of salt in one day, but we do not find any trouble drinking one full cup of sugar in our tea, in just one day. Sad fact is, both are harmful, if used to much.

As the economy gets worse, people began to look for ways to cut back on spending, doing so, our health usually takes a back seat, to our power bill. The average middle class family goes out to eat once or twice a week, 90% of the food they eat will be fried, contain large amounts of: salt, sugar, fat, artificial colors, sodium citrate, lactic acid, sorbic acid, modified food starch, xanthan gum, calcium disodium edta, sodium benzoate, along with a huge list of other chemicals not found in a vine ripened Tomato, fresh picked apple, or even in a glass of water. (Not many of you reading this, can boast that you drink 3 glasses of water a day, now can you?)
So from this one writers opinion, and from the 40+ years of practices, I would suggest to you the reader, web surfer, and fellow American, family and friends, in this troubled economy staying healthy is to your best
benefit, doing so means eating right, and cutting back on the other things you may consider more important. Use less electric, gas, and "Night out on the town" in a month instead, then you can save more money, you know, for your grocery bill!

Investing in your health, instead of the hot rod in the garage, will save you thousands, upon thousands in medical bills. In turn, having better health, leads to a longer happier life. Any public library will have a book on "The Proper Diet" for all ethnics and ages. As I am sure, the Sergeant general would agree, eating healthy, and keeping clean, has been known to lead to sever longevity and happier life, in laboratory studies.

For the most part, store have category like any good book. On isle 12, is bread, flower, sugar, or what not, and on isle 8 you'll find coffee, tea, and spices. The true differences are not the product, but rather the prices. One store may impose a 300% markup, while another only imposes 125%, where as, the one who supplies the store is charging a lot less, for the same thing, but without the chemicals to preserve it.

As I see it, If the stores charged a 5% to 7% markup (instead of the 150% to 300%,) they would not be able to keep the shelves loaded fast enough, (resulting in no need for preservative in the first place,) but that is just my own opinion.

Farming and ranching should never exceed it's available size. Doing so causes product to expire before it can be delivered to it's destination. The proper thing would be to make another (farm, or ranch) closer to the intended destination, eliminating the need to extend the shelf life of editable foods.

So shop your local markets who buy from there local markets, check the sales list, fliers, and paper, for bargain deals, coupons, and special days, for lower prices on the things you need. Try your local "Farmers Market" for your produce, look in your area for a meat production facility, like for example; "Copeland's Central Packing Company" (USDA Inspected!) on Sheppard access, in Wichita Falls, Texas. (close to my home,) where your hamburger meat wont get a "Dye" (FD&C red #11, 7, and 19.) or saturated in salt water, such as is done to chicken. To me, the beauty of a steak, is when it's taken off the grill, and not before it's put there, that truly matters the most.
Shopping SMART, is better for the "Human Body" and provides better health, which prevents medical cost, reducing insurance cost, and saves money in your wallet over the greater picture of time. It should be
logical to assume that "eating" the same as you "shop" would have the same (or better,) end results. One very smart thing you can form into a habit, is get your local "Sunday's Paper" from a news stand, and browse the prices in the store's advertisements. It will save you loads of time, and gallons of gas in the years to come. (Also gets your eye's off this screen at least once a week.)

Even if you do not cut, clip, coupons, (Which really does help save you a lot of money!) the price is posted, and there are usually more than one store's flyer's, coupons, and sales ads in them with there price on it. Walmart, Walgreen's, and Target, all three pay for Sunday's Advertisement in the same newspaper. (Example; Dallas Times, San Fransisco Times, etc.) all three have an AD for the same exact bottle of Bufferin Aspirin. All three advertise a slightly different price. Going by the lowest price, offered at the closest store, with the most items your looking for, is where you want to go.

There are many things you can do to save money in a hard economic environment, from using less, to saving more. Price checking, coupon clipping, and picky choosing, just to scratch the surface. Everyone has the ability to learn, and can do what they put there mind to doing, the human race is the only species on this planet that creates what they can imagine in there thoughts. No one is limited to anything less than there own imagination. So on this next "Shopping Day" try some of these Idea's, get out and meet some new people, think of other Idea's to try, ask around, do some serious communications with your local community, and read your local paper! (There ONLINE as well!)

What Do I Need to Provide to Qualify for a SBA Loan for My Small Business?

The Small Business Administration (SBA) was created around 1953 to assist small businesses. Over the years, it has evolved into networks involving other resources, such as lending, to help find funds for businesses to
grow. SBA loans are more flexible than your traditional loan from a bank. The loans are not totally dependent upon credit score alone. It is best to contact a lender who offers these loans and request a evaluation to see if you can qualify. There are several items you will need to provide.

Financial Statements: Expect to provide financial statement, that will have to be signed off by a CPA. The lender will probably request a minimum of 3 years. Also, be prepared that after you have completed the loan, that you will need to provided updated financial on a regular basis so as to monitor the progress of your business.

Collateral: These loans need to be secured by collateral, usually real estate. It may be a good idea, as commercial property is poised to follow the depression of the housing market, to look at purchasing a location for your business. Rates are low and prices are expected to drop significantly. You may want to even inquire if the lender you are working with may have a foreclosed piece of commercial property that you could purchase within your loan package.

Business Plan: Provide the SBA with a plan of where you business will be in the next coming years, regarding growth, projected expenses, revenues and cash management.

Description of Your Business: Describe what kind of business you are in, sales, length of ownership, owners, and employees. Include on the description why your business needs the loan.

Personal Financial Statements: All personal financial statements need to be provided by all owners, partners of the business and shareholders. Make sure these statements are accurate and true.

Proof of Incorporation: Provide proof that the corporation exist and is current, corporate books and seal.

Proof of Loan Denial: Provide proof that you could not qualify for a traditional loan through a lender.
The loan repayments can be up to 25 years. There are other considerations that need to be meet and you can view more details at www.sba.gov. Qualifying is not difficult so long as you provide all documents requested
and that they are accurate. When dealing with your lender, use them to advise you as you go along the process. Any problems, can only delay your loan. Remember, that there will be certain requirements that will also have to be maintained until the loan is paid off. Continue to use your accountant to help guide you in the financial health of your business.

Why Do You Need a Plan for Your Business?

The question is simple and so is the answer. You need a business plan so your business succeeds. Do not fall in with the crowd of businesses that fail within the first five years by not creating a plan with realistic
and achievable goals and objectives. If you make a business plan, nine times out of ten, your business will be successful. This is true whether your business is a major corporation or a "mom and Pop" establishment.

A business allows you to plan for success. By having the numbers in front of you, you will know how much you have to invest each month. Once you know the expenditures, you can determine how much to charge for your product and service and how many sales you must complete each month to make a profit. Once you start your business, you can check your sales to see if you are staying on track. If you are not making enough sales, you will know. Then you can use different strategies to meet your monthly goals.

Think of the business plan as a daily planner that you can buy any store. By being organized, you can set goals and specify which dates to meet them. By reviewing your business plan, you will know when you meet the milestones and what to do if you fail to achieve an objective.

A business plan allows you to know and understand the internal strengths and weaknesses. You will be able to find ways to capitalizes on your business strengths and to improve on the weaknesses. For example, your business may involve manufacturing of a product. When you start out, the weakness may be the capability of the employees. You can plan to incorporate training so they can improve their performance.

The business plan also allows you to evaluate the external opportunities and threats. You will be able to find ways to turn the threats into opportunities. The biggest external threats are the economy and competition. You need to find ways to provide the market with a high quality product at the lowest cost possible, while still making a profit. By investing money in the latest technology, you may be a step ahead of the competition.
Finally, it takes money to start a business. Chances are, unless you have been saving every dime you made, you will need to get financing from a lender. The business plan shows the bank why you need financing. Even
if you have a strong credit, many banks see great financial risks when a business owner is in the start-up stage. A well-written business plan, gives the lender an idea about what costs you need to put into the business and the potential profits from the target customers. The lending company will be willing to invest in your business if your business plan demonstrates the potential success of your company.

A business plan, even if it is well thought and written out, does not guarantee success of your business. However, it will provide you with direction. It tells you where you are at and where you are going. It gives you a heads up if your business is not meeting you goals and objectives. This allows you to steer yourself back onto the path if you are drifting off course. In other words, you will know what is working for you and what needs to be scrapped.

5 Reasons Why a Business Plan Can Protect You Legally

One thing that every business should make sure to have is a business plan. It is too much of a risk to take when you don't have a business plan for your company. Some business owners may think that a business
doesn't need a business plan or doesn't think they have enough reasons to get one, but every business should have one for a variety of different reasons. You are probably wondering how and why a business plan can help you legally. Here are five reasons why a business plan can help you legally and help protect you in the future.

1. You often need to show your business plan to banks. Sometimes a bank will want to see your business plan even for the smallest things such as a merchant account so your business can accept credit cards. It is a good idea to have a business plan since it shows that you are in business for the long term and have goals in mind.

2. Insurance agencies usually want to see a business plan before they write an insurance policy for your business. If a disaster ever happens or in certain cases when a claim is filed then the insurance agencies usually want to see your business plan. It is important to have one just in case.

3. You can often get funding easier. A business plan will often help you get approved for funding for your company easier. It shows that you are serious about your business and you want to succeed. A business plan will impress lenders.

4. Supplies for products will often want to see your business plan. They want to know that your company can indeed pay them the money. They want to know that you are serious about your company. They want to know that you make enough profit in order to pay them on any credit accounts that they extend to you.

5. The business plan will often protect you if anything happens to your inventory and any other assets. You need to take pictures of all inventory that is expensive and you need to take pictures of your assets. You need to record information about your assets in your business plan. You also need to include in the business plan how much your assets are worth.

7 Steps to Writing a Quick and Easy Business Plan

Everyone has dreamed at some point in their lives about starting a business. Many feel that it is beyond their reach, and will continue to leave their dream as just that....a dream. However, for those that want to
take the next step, and are serious about succeeding at their business, you must start with a business plan.

These 7 steps to writing a business plan are what can get you started. This is not the comprehensive business plan you will need if you go in search of financing or business partners. For a business plan such as that you may want to consider hiring a professional or taking some classes on business plan writing.

This quick and easy version of business plan writing will be a good start to get you thinking, and if you choose to hire someone to write a comprehensive plan, you will need to do these steps for him or her anyway. Each step must be done in order, as you will need the answers to one step before going on to the next.

So, grab a notebook, and get started! All you need is an hour of time to take the first step in making your dream a reality.

BUSINESS PLAN STEP 1:

Determine the purpose of your business. Identify it on paper and go into as much detail as you can at this point. For instance, are you providing a service to the community? Perhaps you are selling a product. Write down what you want the focus to be.

BUSINESS PLAN STEP 2:

Who is your target consumer? Will it be men or women? Old or young? Individuals or businesses and corporations? Local consumers or long distance consumers? All of these are very important to know before proceeding to the next step.

BUSINESS PLAN STEP 3:

Decide how to market to your target consumer. Will you use the Internet? Newspapers? Maybe you will make packets to deliver to local businesses and corporations in an effort to gain their business.

You will need a clear understanding at this step of the purpose of your business and your target consumer. For instance, you will most likely not need to place a newspaper ad if you are providing corporate services, and you will probably not need a business packet if you are advertising to the general public.

BUSINESS PLAN STEP 4:
Where will your business be based out of? Will you work from home, or do you need a location? Obviously if you are running a store, you will need a store front. Location is key, so start researching now how much
rents are in your desired location. You would want a high traffic, or easily accessible area for a store.

Perhaps you are just selling stuff online, in which case you don't need a store, but either enough space in your home if you have inventory or a storage unit.

If you are a service provider, you may or may not need a location outside of your home. These are all questions you need to answer to define your business structure.

BUSINESS PLAN STEP 5:

What kind of tangible items will you need to get your business started? Do you need inventory? You will most likely need an assortment of office supplies no matter what your business. Items such as a computer, printer, fax machine are all typical office needs in todays society.

Do you need equipment? This is a good time to research what you may need in the way of equipment for your business. Make a detailed list so you can easily research costs for each.

BUSINESS PLAN STEP 6:

Create a chart to calculate costs. This is the step you perform all the research and write down the costs of everything in the above steps. Don't just guess, but do some actual research. This will include making telephone calls and doing internet searches as well. Creating a list will give you a good idea of what finances you will require in order to get started. Once you have that number calculated, add an additional 10% for incidentals.

BUSINESS PLAN STEP 7:

Draft your "Action Step" list. At this step, while looking over the first 6 steps, create your "Action Step" list, or your "To Do" list. This will and should be extensive. There are many things to do when starting a business.

Once you have completed all seven steps, you are ready to move on. You may want to consider hiring a professional business plan writer, or at the very least, you may want to take a class in business plan writing.

Other things to consider are consulting an attorney to answer your legal questions. Do you need a license? Should you incorporate?

You should also visit an accountant who specializes in small businesses. He or she can give you great financial advice before you get started so you are aware of all the financial aspects and repurcusions of starting a business.
In any event, it is possible to start your own business. Just be sure to do it right, do your research and stay motivated!

Phone Business Solutions for Small Business

The phone system is a critical piece of equipment when operating a small business. Your phone system needs to meet the needs of your particular business, and needs to be customizable and expandable if you anticipate
changes or growth in your business.

When you select a phone system, you need to evaluate the needs of your business and compare them to the features that are available.

Phone System Size:
The first thing to consider when you choose a phone system is size. When you look at phone systems, it is important to factor in the current and anticipated size of your business. If your business has more than 40 employees, or is growing quickly, you may need a large phone installation such as a PBX phone system. PBX systems can be programmed and customized to accommodate nearly any feature you might want. Smaller businesses may find that a PBX system is the best option for their needs, and is still cost effective, or they may opt for one of the readily available Key or KSU-less phone systems intended for smaller installations.

First, figure out how many extensions your business will need. You will probably need an extension for each employee or work area; in addition, you will need a phone line for each fax machine or other equipment that uses a phone connection. The next factor in phone system size is the number of outside phone lines. The outside phone lines control the number of calls that can take place simultaneously, either coming into or out of your business. If you expect your business to grow, make sure your system can be expanded to the maximum number of lines and extensions you expect your business to need.

Caller ID/ Call Waiting ID:
If it is important to you to know who is calling, you will need a phone system that offers caller ID. If you use plan to use call waiting to alert you to another call that is coming in, you may want caller ID on your call waiting as well. Consider the way the phone displays the caller numbers and how many can be stored in memory for a call history. Remember that use of these services may incur additional charges from the phone company.
Voicemail:

Do you need a phone system that offers integrated voicemail for each extension? Voicemail allows each extension to record outgoing messages for callers and to record messages when the recipients are away from the phone.

Conference calling:
Do you need to host phone meetings by conferencing in multiple people within or out of your office? Look for the number of lines that you may conference into one call.

Speakerphone:
Is it important for you to take calls hands-free? Look for a speakerphone function on your phone system. You will probably want one with adjustable volume control.

Memory and Speed Dial:
Most business phone systems allow you to store frequently called phone numbers in the system. Evaluate how many numbers you will need to store to make sure the phone system will accommodate all of them. Stored numbers may be accessed by programmable speed dial codes on some systems or using the screen menu on other phone systems. Also, look for a phone system with battery backup so that your phone systems will not lose their stored memory in the event of a power outage.

Seven Steps to Starting a Successful Home-Based Business!

If you are thinking of going starting a home based business yare are not alone! Each year several thousand people begin a business at home on either a full or part time basis. The process brings with it a myriad of
emotions to include excitement, anxiety, and uncertainty since there is no certain outcome. However, if you dream of charting your own course, developing a business from concept through operation, feel excited by the challenge, and believe you will enjoy the freedoms that business ownership brings with it, then move forward because the rewards for success are many.

While there is no set formula for ensuring that your business will thrive, you can greatly increase the likelihood of success by creating a strategic plan of action. The brief outline of steps which follows is just such a strategic plan and should enable you to embark on the path of entrepreneurship much more confident of your ability to succeed!

Step One: Setting Realistic Expectations

One of the first questions to be asked in starting a home-based business concerns your expectations with regard to business ownership. One of the first tasks to perform in deciding to start a home-base business is to carefully reflect on what it will take to establish a successful and growing firm. Certainly it will take financial investment, how much will depend on the type of business you establish, but it will also consume large amounts of your time from inception trough day-to-day operation. Carefully consider how prepared you are for this journey. Does your home have sufficient space to accommodate a home-based business? Do you have the financial resources to begin? Are you prepared to put in very long hours and possibly seven day work weeks to get the business up and running? How will this time commitment impact your family? Do you have an already established network of potential customers? Are you prepared to assume the risk that the business may fail?
The above questions are not intended to dissuade you from starting a business; quite the contrary, they are meant to guide your thinking. By establishing a realistic mental outlook at the outset, you will have gone a
very long way toward turning your dream of business ownership into reality!

Being an entrepreneur is all about mind-set!

Step Two: Which Business is Best for YOU.

If you have made it to Step 2, congratulations! You have carefully weighed every consideration and are ready to take the next step on the entrepreneurial path. Now it is time to decide which business will be the right one for you.

As a first step, it is best to evaluate your skills, past experience, needs, interests, and hobbies to see if one of them sparks an idea from which you can build a business. You can record your thoughts with regard to each area in your journal to help you in clarifying your thoughts and narrowing your focus. Although starting a home-based business in an industry with which you are familiar can be helpful in terms of a limited "ramp-up" period, it is a misconception to think that you need to build a business based on your prior professional experience. Many successful businesses were built by people who had an idea and ran with it! It is well known that those who feel a "passion" for their business are much more likely to succeed in! Once you generate some possible business ideas, do research to test its feasibility in the marketplace by performing industry- and consumer-based research. After you have narrowed down the choice to three or four ideas, you will want to assess which most closely align with your skills, preferred work style, as well as financial and lifestyle goals.

Step Three: Financial Considerations

A primary consideration in starting a home-based business is the total costs involved, as well as a thorough analysis of your current financial situation. The total costs include not only the monetary outlay necessary to launch the business itself (licensing fees, professional fees, supplies, etc) but also how much money you will need on a monthly basis to pay your bills and meet other financial obligations. However, careful planning combined with research into all the avenues available for financing means that anyone with the desire can certainly achieve the goal of small business ownership!

Step 4: Develop A Business Plan
It is well recognized that the creation of a well thought out and strategic business plan has been an important factor in the success of many small businesses. A business plan is basically a blueprint for how you will
operate the business. While many business plans are written for the purposes of obtaining financing, it is generally a good idea to create a plan even for your own use. The plan need not be very lengthy if you are not seeking funding, but should include all the essential areas such as legal structure, marketing research and the development of a marketing plan, as well as financial projections, most importantly the cash flow and income statements. Overall the creation of a business plan will help you to clarify your goals and objectives for the business, as well spot areas where you will need to make adjustments so that you can move forward with a clearer picture of the road ahead!

Step 5: Managing Your Business

Congratulations! You have moved through all of the preparatory work for business ownership and are now ready to get into the nuts and bolts day-to-day operation This will be a time of excitement as well as confusion since you won't know where to start with so many priorities ahead of you! Your first task will be to carve out a separate office space in your home where you may work undisturbed so that you are able plan out all the steps necessary to launch a great new company! Your second task is to create a strategic plan with daily, weekly and monthly goals for every area of the business: financial, marketing, and operations. Think of it as the beginning of your policy and procedures manual.

The important thing is to not overburden yourself but, rather, to create a realistic plan with deadlines you know you will be able to meet. It may very well happen as you move through the stat-up process that you will find the need to change the order of goals or delete/add others. This is part and parcel of business ownership where the first rule is that nothing is written in stone!

Step 6: Developing A Sales Mind-Set

Every business owner is first and foremost a salesperson, no matter the product or service being offered. There is just no getting around the need to perform sales-related tasks if we hope to firmly establish and then grow the business. With this in mind, we can see that developing a sales mind-set is a critical skill for any business owner. To develop a sales mind-set is it helpful to think of yourself as an educator: you will be teaching your customers or clients all about your product and service and how it can benefit them. It is widely known in the sales world that consumers don't purchase the product or service in-and-of itself, but purchase the feeling which that product or service instills in them. The key to successful sales is persistence and patience. Having a sales mind-set means you understand and accept that a "no" today can very well turn into a "yes" tomorrow through a targeted and consistent marketing campaign!

Step 7: Purchasing A Franchise
There is another avenue to home business ownership aside from starting one on your own and that is to purchase a franchise. Franchising offers many benefits such as a successful track record, fully formed operational
plan, ready-made marketing materials, on-going support (so that you are in business for yourself but now by yourself"), along with the opportunity to obtain financing, either in-house through the franchise itself, or through the franchisor's affiliation with third-party funding sources. There is a wide selection of home based franchises for you to explore so no matter your particular area of interest, there is very likely a franchise to match it! If you have a dream to be a business owner but would also like to work within an established and successful business model, franchising may very well be the answer for you!

Creating a Business and Marketing Plan for a Home Based Business

Creating a business and marketing plan gives you the opportunity to clearly outline your business objectives and how you plan to achieve them. It serves as a personal roadmap for launching and operating your home-based
business. It is also a necessary component when you need to obtain financial assistance from banks or investors.

As you create your business plan, you will want to place emphasis on the needs of your business. For instance, a business plan for a start-up company will highlight different points than a business plan being used to attract investors. This article focuses on developing a business and marketing plan for a start-up company.

In most cases, your plan will be a 20- to 30-page document written in simple business language. You will want to highlight main points with bullets, tables and charts. A standard business plan includes seven sections:

1. Executive Summary
2. Company
3. What You Sell
4. Your Market
5. Strategy and Implementation
6. Management Team
7. Financial Projections

As you begin to organize and develop your business plan, realize that you may not need every item listed above. It's okay to ignore anything that doesn't fit your needs. It's also okay to add sections that aren't listed here. Unless you will be using the plan to obtain financing or attract investors, there will be areas that simply aren't important.

Last, but not least, your business plan should include a table of contents to provide readers with a quick and easy way to find each section of the plan. All pages should be numbered and the table of contents should include these page numbers.

Step-by-Step Guide for Writing Your Business and Marketing Plan
The presentation and information contained within your business plan will determine what kind of first impression you make. Everything about your business plan needs to scream "I am a professional and I know what I
am doing." It needs to be printed on high quality paper and bound as a professional presentation. It needs to include a cover page, table of contents, executive summary and the seven sections mentioned above. All of the elements must be top-notch both in presentation and substance. Let's take a look at each specific element:

Cover Page: The purpose of a cover page is to inform the reader about what they are going to find inside. The cover page should also include your contact information. Use high-quality paper stock for the cover page and use an easy-to-read font such as Times New Roman. The cover page should include the words "Business Plan" in large, bold font and should be centered at the top of the page. The cover page should also include the following information:

* Your full name and the name of your business
* Your company logo
* Address (street address, city, state and zip code)
* Telephone number (including area code)
* Fax number (including area code)
* E-mail address
* Web site address (if you have one)
* Current date

You would be surprised at the number of business owners who leave crucial information off the cover page. If a lender or potential investor cannot find your contact information, chances are your plan will be tossed. Don't make this mistake. Make certain your cover page contains all of the information mentioned above.

Executive Summary: The executive summary is what most readers will go to first. If it doesn't grab their attention and make them sit up and take interest, it will probably be the last thing they read about your company.

Lenders are particularly interested in executive summaries because they use them to determine whether or not they want to learn more about a business. The executive summary provides an overview of your business. It will help others determine your level of professionalism along with the viability of your business.

The executive summary should be written last. Although it is the first part of your plan, it's difficult to write a summary unless you have all of the other components in place. As you create the others sections of your plan, highlight sentences or sections that you want to include in your executive summary.

The executive summary should be between one and three pages. It should include your business concept, financial features and requirements, current state of your business, when it was formed, and biographies of each owner and key personnel.
After you complete your executive summary, have several people read it to check for clarity and presentation. Keep your summary short, but make it interesting. This is your chance to entice readers to read your entire
plan. Just as you would dress your best for an important job interview, you want your executive summary to make a good first impression as well.

Company: An important aspect of defining your company involves creating a mission statement. A mission statement is generally one or two sentences that describe the purpose of your business, what you stand for, and your target market. You want to be very clear when creating your mission statement. Tips for writing a mission statement can be found at bPlans.com and About.com.

Once you have your mission statement, you'll want to highlight various aspects of your company. Although there are specific areas you will need to cover, you want this area to be particularly lively and interesting. Show your enthusiasm and let others pick up on your excitement through the words you use to describe your company. After all, who wants to join forces with a boring, dull company? This is the section where you will want to "go for the gusto" and get people excited about your vision.

Specific areas that should be included in this section are:
* What type of business is it? (wholesale, retail, manufacturing, service)
* Date the company was founded. In the case of a start-up, include the date you intend to open for business.

* The story behind the founding of the company. Talk about what drove you to create this type of business and why you are so passionate about providing your product or service. Also include the benefits your customers receive because of your business. Discuss how your business impacts the community.
* Include the legal structure of the business (sole proprietorship, partnership or corporation).
* Include information about the owners (including you). Discuss their past work experience and talents. Talk about the special qualities they bring to the business.
* Share information about your work environment. Since this is a home-based business, talk about the accommodations you have arranged for your home office. If you will have employees, discuss the work environment you have set up for them.
* Be certain to include information regarding support systems you will utilize. Discuss how customer service will be addressed. Include marketing information, such as where you will be advertising and various types of promotions.

What You Sell. In this section you will want to discuss your product or service in detail. If you manufacture the product, discuss where you obtain your supplies, the manufacturing process, why you make the product and the story behind it. For instance, if you are selling organic salsa and grow the ingredients yourself; talk about why you are passionate about organic gardening and how you developed the recipe. You would want to include things like why your salsa is better than any other salsa, what sets it apart, the benefits it offers, and why you are driven to get it into everybody's hands.

If you are offering a service, discuss the same factors as above and explain why you are better at providing this service than anyone else. What sets you apart? What extra benefits do you offer that your competitor does not?

Market Analysis. Provide a brief overview of the industry you will be competing in. The goal is to demonstrate that you are in a "hot" industry that has an excellent long-term outlook. A good market analysis discusses both the present situation in the market and future possibilities. Describe how your company fits into the marketplace. Include information about new products or developments within the industry that will benefit your business. Use graphs and charts to emphasize specific trends in the marketplace.

Strategy and Implementation. Discuss the various strategies you will implement to create a successful and profitable business. Talk about the prices you will charge for your product or service and explain your pricing structure.

Next, discuss your plans for implementing your product or service into the marketplace. Explain your goals and the steps required to reach them. Describe your customers in detail and discuss how you will market to them. Will you be advertising on a billboard or in a niche publication? Will you use direct marketing or online advertising methods?
Include information about your primary competitors such as their annual sales and market share. Discuss why these companies do or do not meet their customers' needs. Explain why you think you can capture a share of
their business and how you intend to do so.

Management Team. It's not necessary to include a detailed resume of every person on the management team, but it is important to highlight their previous experience and discuss the qualities they bring to the organization. If you are going solo, this is the place where you will want to toot your own horn. Don't be afraid to include information about awards or recognition you have received.

Financial Projections. This might be the most challenging area of the business plan. However, once you have compiled all of the information required for the previous six sections, you will have a better understanding of where you stand in the marketplace. Using the gathered information, forecast your estimated sales for the next three years. Visit Entrepreneur.com for a detailed guide on forecasting sales.

While creating a business plan may appear to be an overwhelming task, there are ways you can simplify the process. There are many books on this topic available at your local library or bookstore and numerous resources available on-line.

The Small Business Administration provides counseling and assistance for all phases of your business. There are several software programs on the market that walk you through every step of the business plan process. You can also find business plan templates in word processing programs and on-line.

Don't let the magnitude of the task steer you away from creating a plan. Break it down into smaller tasks and take the time to do it properly and perfectly. And, last, but not least, even if you have no plans to obtain financing or attract investors, it's wise to create a business plan. It will provide you with many insights and shed light on areas that need improvement. If you take the time to do it right, it can be your one-way ticket to success!

Tips for Creating a Business Plan at Home

It has become easier than ever to start a home based business with the explosion of the Internet. People are now able to start businesses with limited resources or investment. With that, you see mothers, fathers,
grandparents, and students who embark on the journey of starting a home based business. Unfortunately, that also means they often lack the necessary tools and fundamental basics that are needed to run a successful work at home business.

While a home business is based out of your home, it's still a business, and must be treated as such to reach your goals. Often times, a home based business is much more difficult to run than your tranditional idea of a business, because the line between work and home life often collide.

You may think a business plan is unnecessary - you're just a small business and you already know what your plans are and what your path will be. Even if you don't plan to obtain a loan or grant, a business plan will help keep you focused and organized. You can continuously check back to make sure you're following the path you initially set out. Keep in mind, though, that no business plan is written in stone, and it's very likely yours will change as your business grows. Even if you've already been in business for a while, now is the time to write a business plan if you don't already have one.

Some of the most important questions you need to answer are:



* What service or products are you providing/selling? What need does your business fill?

* Who is your target client-base or audience?

* Who are your competitors, and what do you offer that stands out from them?

* How will you market and promote your business?

* What costs are involved in starting and running your business?

* What financial resources will you be using for your business?



Some other questions to think about :




* Do you have a mission statement, a vision?


* Where do you like to see your business in the future - in a month, six months, a year?




Be realistic, and don't set goals that are too high. Starting a business is hard work and getting results and making a profit often takes several years to do so.
If you can't answer any of these questions, you need to sit down and rethink your business idea. Running your own business is not easy - if it's something you enjoy and you know which direction you're
running in, it's that much easier.

Business Banking Tips

Should you have chosen to begin your own small business, you will likely have quite a few questions that you’ll require answered. The most important question that lots of start up business undertakings target can be which is the right business bank? It is very essential to compare and contrast the banks accessible to you so that you can decide on the best possible banking service. Here are some beneficial questions you should ask when you deal with every single financial institution about their business banking products and support available..



This would be a great place to begin looking for the best business bank account ideas.

Exactly What Will The Costs Be?

Finding out just how much your new business banking account will definitely cost is among the biggest questions that you should question. It really is good business to carefully weigh in addition to examine all the associated charges and costs. The fine detail will frequently can be found in PDS (product disclosure statement ) and terms and services information. It is a wise decision to ask a specialist associate, like an accountant or lawyer, to be able to examine these details. It is possible to business banking institutions offering totally free business banking accounts for just a specific period of time. Make sure that you discover how much your business account can cost you following this honeymoon period has expired.

Suppose I Need An Overdraft Account?

Should you be starting a new business enterprise, the right business banking institutions can provide funding to help with the development in addition to expansion. Nearly all banking institutions require security whenever supplying credit to new business ventures, since there is a greater possibility the business could go wrong. Think diligently prior to applying for a overdraft and know that you might need to offer security, such as your house and/or other assets, in order to gain access to a overdraft facility.

What If We Need Insurance?

Should you invest in stock or chattels for your business, for example computer equipment or maybe stock, it’s worth considering to insure these kinds of property. The majority of the best business financial institutions will give you business insurance coverage for a marked down rate. The simplest way to arrange your insurance is to put together a number of different insurance quotes so as to discover the right accessible premiums.

What Additional Help Am I Going To Receive?

The very best business banks will provide a dedicated business manager that can personalise your business banking experience. Your business account manager can provide basic business tips as well as individualise this advice so it is valuable and also applicable to the particular business needs. Additionally, your business accounts manager should be able to provide you car loans, auto leasing, finance, fiscal planning and pension planning.

reasons to bank online

almost everybody is banking online nowadays. but there are those who still doubt the whole system. here are a few reasons why you should get over your doubts and try banking online:

Avoid bounced check fees. Average overdraft fees run about $28 (bankrate.com) and can be as high as $35 from your bank alone. Not to mention fees from the party to whom you wrote the check. Banking online allows you to move funds quickly, easily and from anywhere to cover a written check. Overdraft protection is still a good idea, for it lowers the cost and eliminates the third-party fee. But it may not work for very large checks and even a series of $10 fees for protected accounts can get expensive.

Earn more interest. With online banking, you can "stash your cash" in a higher yielding savings or money market account and transfer it as needed to cover a series of bill payments or ATM debits. You can usually transfer across institutions, such as your brokerage account. Also, keeping less in your checking account may help you or family members control spending.

Easier to catch errors. It happens. I once learned of a woman who thanks to online banking found out that her lender was still billing her when in fact she had paid off the loan. And don't forget about convenience. I make fewer trips to my bank or ATM, and can manage my checking balance and transfer funds from anywhere. Since most of us are making greater use of ATM cards, the online "view" is more current and relevant. It takes far less time for me to review my account activity.

Online checking paves the way to online bill payment. The savings in time and money begin to compound. Now you save postage, avoid merchant and credit-card late fees and at the same time improve your expense tracking.
Bottom line: if you're still in manual mode, you may be spending more than you need to. More importantly, you're falling farther behind the larger "bank from anytime, anywhere" curve.


source: by: Jennifer Openshaw http://www.marketwatch.com/news/story/story.aspx?guid=%7B658D92E4%2D2F64%2D4518%2DAD6A%2D85A7B9D10314%7D&siteid=rss

Online Banking

Online banking is a trend that has emerged recently. Learn more about the pros and cons of this easy service.

Have you ever found yourself rushing to pay your bills on the weekend because you were too busy during the week? What if you urgently need to send money to a sick relative late at night? There is a relatively new financial service that can come to your rescue called 'online banking'. Read on to learn more about it.



What is online banking?

Online banking is a service provided by a bank to customers, so that they can access their accounts over the Internet, through a secure website. The simplest thing one can do, using this service, is to view the status of their accounts as well as any transactions that have been carried out. Besides checking your account details, an online banking service also allows you to transfer money between multiple accounts as well as carry out electronic transactions. Many banks even allow you to pay some of your bills online, for a small fee.



What are the advantages of online banking?

Convenience: Online banking saves you the hassle of having to wait in a queue. You can access your account and make transactions whenever you like. This way, you do not have to wait until you get some free time off work, or spend your weekend writing checks and queuing up at the bank to deposit them. It also saves time. Just sit down in front of your computer and open up a webpage with your account details on it. In a span of a few minutes, you can check your account details and carry out a transaction. There is no need to manually go through your chequebook. Moreover, you avoid the bother of requiring stamps and envelopes to mail cheques to different places.

Organisation: Online banking simplifies your job of having to shuffle through stacks of paper every month, trying to tally receipts with bank statements. Instead, you can just create a spreadsheet on your computer and enter your expenses and account balances on it. Using simple addition, the computer can automatically tally up both of them and check to see if they match.

Reduced paperwork: With online banking, you are able to avoid the headache of dealing with the papers that tend to accumulate using a regular banking service. Since you can check your account whenever you wish, there is no need for regular bank statements to be sent to you. If you pay bills or make purchases online, you will not have to sign any receipts.

Confidentiality: You can carry out all your transactions in the privacy of your own home. This means no one is likely to find out your account number or password unless you yourself give it to them. You also do not have to worry about losing your receipts or about dishonest storekeepers acquiring your credit or debit card details.

source: http://nation.ittefaq.com/issues/2008/07/18/news0956.htm

SmartMoney reveals the top things that your bank may not be telling you

By Jim Rendon
TODAY


With the economy slowing, consumers and banks alike are doing what they can to stay afloat. Are you reading your bank's fine print when it comes to fees, online banking, interest rates and more? Here, SmartMoney reveals the top things that your financial institution is probably not telling you.

"Our branches are there to sell you, not serve you."
In the late 1990s bank branches were considered outmoded relics soon to be replaced by ATMs and Internet banking. But just the opposite happened: In 1998 there were 89,000 bank branches in the U.S.; by 2007 there were 97,000. Why? The industry realized consumer banking was profitable and that despite the predictions of Silicon Valley wonks, the main criterion consumers use in choosing a bank is proximity, says SNL Financial analyst Jennifer Payne.

But branches aren't just about convenience; they're a bank's primary sales floor. Brochures for services as varied as retirement accounts and home loans are on display, and everyone from the teller on up is trained to make a sale. That's because in the current low-interest-rate climate, it's harder to generate revenue from interest alone. Many players in the industry have been trying to boost fee- and service-based income, so if a teller sees you have a mortgage, he might suggest you meet with a loan officer to discuss a home-equity loan. Says Greg McBride, a senior financial analyst at Bankrate.com, "The more products a customer has with a bank, the more likely he is to stay with that bank."

"Our fees will only go up."
With the economy slowing and big losses looming in the mortgage market, banks are looking for reliable revenue streams. Hence punitive fees — for overdrawing your account, say, or using a competitor's ATM — are increasing. The average ATM service charge doubled between 1998 and 2007, and overdraft fees brought in $17.5 billion in revenue in 2006, up from $10.3 billion in 2004, according to the Center for Responsible Lending. Rubecca Hegarty, a married mother of three in Woodridge, Ill., says she often pays upward of $100 a month in overdraft fees to Chase, since, like most banks, it changes the order of purchases so that large debts get paid first — increasing the likelihood of incurring fees on smaller purchases. JPMorgan Chase says it does this because big payments like a mortgage are more important to consumers, so they get priority.

Revenue from penalties can be addictive for banks, says Harvard Business School professor Gail McGovern, but "they're going to face problems from angry customers, which leads to big call-center bills, employee dissatisfaction and turnover."

"We change our interest rates all the time."
Regardless of what your credit card agreement says, you can never be sure how much interest banks will charge you. For example, nearly all cards have a default rate — as high as 30 percent — which banks apply when you've done something wrong, usually after two late payments in 12 months. But some banks have cut that to one, says Curtis Arnold, founder of CardRatings.com.

Banks can also change the terms of your agreement, raising rates when they like (though you can opt out and pay off the balance at the old rate as long as you never use the card again). Bank of America did that recently, upping many cardholders' rates from 10 or 12 percent to 27 percent or more, even though they'd done nothing wrong. "There's no clarity on what criteria can lead a bank to raise interest rates," says Robert Manning, director of the Center for Consumer Financial Services at the Rochester Institute of Technology. "It's a black box." A Bank of America spokesperson says the company periodically reviews the credit risk of its accounts and adjusts rates accordingly, adding that in the past year 94 percent have had no increase.

"College campuses are a gold mine for us."
Students are the customers of the future, and banks are increasingly courting them, sometimes right on campus. More than 120 universities have cut deals with banks to issue student-ID cards that are also ATM and check cards. Schools can make millions from these deals, sometimes even taking a small cut of individual purchases.

Students are also a hot market for credit card issuers; banks will make private deals with alumni associations to get contact info for students, parents and even ticket buyers to university athletic events. Card companies cut deals to set up booths on campus, and Chase even inked a deal with Facebook to display ads and set up a Chase group on its Web site.

The problem? Mounting credit card debt among college kids, for one. "Universities don't negotiate on behalf of students," says Manning. "They're negotiating the best deal for the university." A spokesperson for the National Association of Independent Colleges and Universities says don't blame schools — banks would market to students anyway, and universities at least try to get the best rates they can for students.

"In debt? The courts won't help."
Since the late 1990s banks have been including mandatory arbitration agreements in their contracts for many of their products, including auto loans, checking accounts, home-equity loans and credit cards. Such agreements prohibit you from suing and instead require you to use an arbitrator — someone picked by the arbitration firm named in your credit card contract to hear the dispute and decide the outcome.

While these clauses were originally designed to thwart class-action suits, the banks have also been using them for debt collection, says Paul Bland, an attorney with consumer-advocacy group Public Justice. There are even times when consumers, often victims of identity theft and unaware of the debt, aren't present when awards are handed down against them.

A recent suit against an arbitration firm brought by the San Francisco city attorney noted that arbitrators ruled in favor of banks in 100 percent of the 18,045 California cases brought against consumers from January 2003 through March 2007. "From the consumer perspective, it's a nightmare," says Bland. If a bank brings arbitration against you, hire a lawyer and request a hearing — in person.

source:
http://www.msnbc.msn.com/id/25736566/

Bank of America Online

Bank of America Online Services – making banking free of human interaction is their dream. Bank of America Online plans to unleash a new kind of account, on that lives exclusively and will cost you money if you ask a teller to do some work, or want something in writing. For $8.95 though, you can ask a teller to handle your dirty, dirty money, or get a statement of how much you have, printed on paper that you can roll around on naked.

Actually, this bank sound better and better. Throw in a naked loan officer that will lash me with terrible, invasive fees and you’ve got yourself a new john… uh, I mean “client,” Bank of America Online!

Bank of America, like any other kind of sex worker, is just looking for new sources of revenue. Especially now that new Federal regulations limit how much they can charge for over-draft fees. Gone will be the $40 fee for a $10 over-draft. And if it has to steer customers towards cold, unfeeling machines that don’t even have nice curves you can ogle when they bend over to open the safe… what was I talking about?

Some industry analysts say this could end “free checking” accounts, since the penalty fees were what banks made their… well, bank on, so to speak. So, instead they will go more towards no-frill, monthly charge accounts. So if the big overdraft fee left hand don’t get you, then the monthly charges right hand will. Frankly, I’m fine with a regular monthly charge rather than being bitch-slapped every time I go over my balance by $3.00.

You can still talk to tellers so long as you have a question and aren’t asking them to do something weird, like dress up like your High School Drama teacher and run through the bed scene of Romeo & Juliet “just one more time.” No word yet on whether this will effect lending procedures for Bank of America online or off-. Prostitutes usually hate giving credit.

Small business credit card application

Have you ever taught of financing your small business with small business credit card? Small business credit card application is a good method of funding small business. Almost half of all small business uses credit cards as a source of finance for firm.

Credit cards come with credit limit. You can use your small business credit card to run the day to day expenses of your business, to pay for purchase of goods and services. With your credit card you have instant access to money. The cost of such credit is usually high. For a surcessfull small business credit card application make sure you take into consideration your business credit rating.
Business Credit Rating

Small business credit rating is not purely based on fixed standard or credit history.

Small business credit rating is based on taking into account company size in terms of assets and employees. It is also based on enquires from suppliers, vendors and other trade accounts. Business credit rating is different from that of its owners.
Features of Business Credit Cards

Before you apply for your small business credit cards make sure you are familiar with its features. Some business credit cards have the following features;
Control
This feature enables you to control what you do with your cards. With the control features you can have online access to transactions and your business statements.With this you can monitor your business expenses.

Another advantage of the of the control is that it enable a business set spending limit for each card.
Benefit
Card providers give various benefits to small business card owners. Before applying for a card check the benefit to see if they are useful to your business.

Some card gives you discount off your business postage. You can get up to 55% off some car breakdown service. Others give cash back. These benefits are not totally free.
Protection
Credit card Fraud has been a major problem to small business in recent times. In 2009 billions of dollars where lost by small business world wide as a result of credit card fraud.

With a good card protection facility you can get identity protection, assistant to help prevent, detect and resolve identity theft. Another protection facility is an extended warrant for up to 24 months.

Before choosing any of these business cards based on their features, be sure it is relevant to your business.

How the FDIC Affects Your Wallet

You might be surprised to learn that the FDIC is not funded by tax payer revenue, so it receives no Congressional appropriations. Rather, it’s funded by premiums that banks and thrift institutions pay for deposit insurance coverage and from earnings on investments in U.S. Treasury securities. With an insurance fund totaling more than $45 billion, the FDIC insures more than $5 trillion of deposits in U.S. banks and thrifts – deposits in virtually every bank and thrift in the country.

Banks and thrift institutions have to comply with a host of regulations and safe operating guidelines designed to protect depositors and their money. In many ways, the FDIC could be considered a consumer protection agency as it supervises and regularly examines insured banks to make certain they are operating in safe and sound ways, thus protecting customers and their deposits.

On October 3, 2008, FDIC deposit insurance temporarily increased to $250,000 per depositor through December 31, 2009, but there is legislation currently proposed in Washington to keep the $250,000 coverage permanent. Many experts believe this will pass with little resistance, but only time will tell.

Your money in savings, checking and other deposit accounts, when combined, is generally insured to $250,000 per depositor in each bank or thrift the FDIC insures. Deposits held in different categories of ownership – such as single or joint accounts – may be separately insured. Also, the FDIC generally provides separate coverage for retirement accounts, such as individual retirement accounts (IRAs) and Keoghs, insured up to $250,000. The FDIC’s Electronic Deposit Insurance Estimator can help you determine if you have adequate deposit insurance for your accounts. We’ll cover ownership categories in more detail in our next installment.

The FDIC, Your Bank, and You

We’re launching our blog with a short series of posts dedicated to how we work with the Federal Deposit Insurance Corporation, or FDIC, to protect your hard-earned cash. (With bank failures and economic doom-and-gloom all over the news we thought it a good place to start.) But before we get into specifics, we need to provide a brief history of the FDIC and its role as a consumer protector.

The FDIC was created as an independent agency of the federal government in 1933 in response to the bank failures of the 1920’s and early 1930’s. The FDIC is headquartered in Washington, D.C., but conducts its business in Utah from a field office in Salt Lake City. This field office works closely with the Utah State Department of Financial Institutions to oversee the safety and soundness of many of the state’s banks, including Western Community Bank. Since the start of the insurance program on January 1, 1934, no depositor has lost a single cent of FDIC-insured funds from a bank failure.

The FDIC insures deposits only. It does not insure securities, mutual funds or similar types of investments that banks and thrift institutions may offer. (See Insured and Uninsured Investments on the FDIC website to determine what is and is not protected by FDIC insurance.)

Upcoming installments will cover “How the FDIC Affects Your Wallet,” “How to Make the Most of FDIC Insurance Coverage” and “How the FDIC Affect’s Your Bank’s Service.” We hope these posts will help you gain a better understanding of how you can better protect your hard-earned cash, and how your bank is working to protect you.

Make the Most of FDIC Insurance

Our last post made reference to the FDIC’s Electronic Deposit Insurance Estimator, or EDIE, to help you determine if you have adequate deposit insurance for your accounts. Today we’ll delve further into ways you can make the most of available FDIC deposit insurance coverage.

Perhaps one of the best features of FDIC deposit insurance is that’s free. You qualify for it simply by opening a qualified deposit account at an FDIC insured bank. How much insurance you can receive is a different matter. The amount of coverage is based on factors such as the amount of money you have in an insured bank, the type of account, and the kind of ownership category the account falls into.

You can never receive more money than you have in your deposit account. Traditionally, the FDIC has insured deposits up to $100,000 per depositor, but on October 3, 2008, FDIC deposit insurance temporarily increased to $250,000 per depositor through December 31, 2009. So this means if you and your family have $250,000 or less in all of your deposit accounts at the same insured bank or savings association, you do not need to worry about your insurance coverage – your deposits are fully insured. A depositor can have more than $250,000 at one insured bank or savings association and still be fully insured provided the accounts meet certain requirements

You may qualify for more coverage if you own deposit accounts in different ownership categories. The best source of information regarding ownership categories is the FDIC. So to help you determine how you can establish your accounts in the proper ownership categories and to help you maximize your coverage, we suggest you take some time to review the information on the FDIC’s insurance coverage info page.

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The Princess and the Penny

Do you remember the story of the Princess and the Pea where a pea is placed below a ridiculous stack of mattresses to help a desperate prince determine if a traveler claiming to be a princess really is a princess? The prince thought if the woman could feel a pea through all those mattresses that she had to be a princess, because “only a princess could have skin so delicate” as to feel that small irritating pea under all of those mattresses. Sure enough, the woman proved to be a princess. She did not sleep all night because she could feel the tiny irritant under all the mattresses. Imagine what she would think today sleeping on one mattress with a penny-or a stash of money-stuffed under it.

Admittedly, this story is recalled in order to make a point: As bad as the economy is, or may get, the mattress is not the smartest way to save. If you don’t want to loose sleep over the safety of your money, or sleep with an annoying lump in your bed, do some homework and find a safe and secure bank where you can open a simple savings account. You will have greater peace of mind knowing your money is FDIC insured and that your bank is working hard to deserve your trust.

Remember that the bank failures you’re hearing about in the news are typically large banks, and that there are thousands of smaller institutions, like community banks, that continue to operate in safe and sound ways. What’s more, your local community bank is most likely owned, managed, and operated by people in your community who understand your needs, the local economy, and the issues that affect your neighborhood.

Resist the temptation to open a “restless-nights-sleep account” and open a simple savings account at a trusted local community bank instead. You’ll sleep better.

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Benefits of “Going Local”

“The past few years have seen increased emphasis on “going local,” or supporting local communities by consuming products that are produced and sold by independent organizations rather than big-box, franchised retailers,” according to American Fork City Councilman, Dale Gunther in an article published in the February 2009 Utah County Business Journal. “The trend has really taken off…because it helps local communities thrive by reinvesting local dollars at home.”

“While it’s natural to think of products such as produce and art as part of the “going local” movement,” Gunther continues, “one product that is often overlooked is the community bank. Yes, the community bank is indeed a local product that supports local communities.”

So what are some benefits to banking with a local community bank? Here are a few cited by Mr. Gunther:

• “Community banks are locally owned and geographically centralized. This means the money deposited by citizens in your town is generally loaned back to citizens in your town” – not citizens or businesses in other states or even counties.
• “Local management also means faster decision making and less red tape.”
• “At community banks, there are fewer layers to get to the top, which means you have easier access to executives.”
• The employees of community banks are almost always from the community. They “know the community and have been working at the bank long enough to know how to best meet the needs of the community. They know the market and have a vested interest in seeing the local economy succeed.”
• Smaller banks are better to work with you when you have problems with your account. “[They] work with you to avoid fees in the first place and, when incurred, they don’t sting as much as those of their bigger brethren.”

When you consider “going local,” do as Mr. Gunther suggests and “realize that as much as spending locally lifts communities, saving and borrowing locally does, too,”

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