July 22 2013

Every state wants to be a destination for entrepreneurs who are looking for the best place to open up a new business. When a company opens up shop, it is a boost to the local economy and employment rates as residents are able to find jobs and spend money in their own back yard. It also helps to boost the national perception of the area when business owners as willing to call the state home.

This week, Ohio Governor John Kasich spoke with WKSU, the state's public radio outlet, about the efforts underway to improve Ohio's stance as a destination for business owners. He mentioned that the future is bright in this area and lower business taxes will lead the way to success.

"It's been on my mind for a long time and now we're going to have a lot more focus," Kasich said. "Our tourism operation needs to be improved. We have a change in leadership there. We've got to take advantage of the new media to be able to sell the state and now that it's happening, we have momentum. We just have to keep pushing."

If the governors' efforts are successful, it will mean that more businesses of all sizes could soon be opening up in the state. However, more companies mean more competition. This will cause organizations to look for the most effective way to handle every daily task. When it comes to shipping and the supply chain, a local courier service can optimize the process of delivering critical information and packages.

July 18 2013

For many companies, there are seasonal trends that affect the ebb and flow of daily business. A company that makes pool supplies, for example, may be experiencing booming sales right now as heat waves strike areas all across the country from Cleveland to Los Angeles. That same company most likely experiences only a fraction of those sales numbers in the dead of winter.

Another sector that is gearing up for a seasonal boost is the back-to-school arena. From office supply stores to tech providers to dorm room furniture suppliers, a number of stores need to be ready for the rush of parents and children that will be visiting these establishments ready to spend.

While it will be important for these companies to have enough staff and inventory to meet the demand of the next several weeks, it will also be important to make sure all backend solutions are figured out and areas like the supply chain are strengthened and up to the challenge.

According to the National Retail Federation, 77 percent of families have said that the current state of the economy will affect their buying habits during the back-to-school time frame. This includes nearly 37 percent that will focus on coupons and sales that will only be available during this time.

When companies face these seasonal sales boosts, having every aspect of the business firing on all cylinders is crucial. It can be a wise move, for example, to partner with a local courier service to make sure every outlet has the products on hand each day to meet the sudden demands that the summer days bring.

July 18 2013

The summer months tend to see a lot of new businesses popping up. The weather is nice, new college graduates are looking to make a name for themselves and entrepreneurial spirit is in the air. This dates all the way back to younger days when kids set up lemonade stands on the corner to start making some extra money.

According to an article from the Columbus Business First, the small business arena in Ohio is starting to strengthen. The piece cites a new report from BizBuySell, that tracks the asking price of companies that are currently up for sale.

The study shows that median the asking price for businesses in Ohio during the second quarter of 2013 is up 8 percent year-on-year to $244,000. On average the annual revenue of companies listed for sale is $516,813, which is up 14 percent from last year and cash flow is up 20 percent to $104,168.

While those increases are nice, it does show that former buyer's market is starting to turn into a seller's one.

"Small-business owners are growing more confident in the sellability of their business as these financial numbers continue to improve and it's showing in both their asking and final sale price," Curtis Kroeker, group general manager of BizBuySell said in the report.

July 18 2013

While the economy is still working its way back up from the recession, there are good signs that can be seen in the number of new businesses that are starting crop up.

According to an article in the Dayton Business Journal, since the start of the year, the Ohio state government has helped with the filing of 47,918 new business requests. That is an increase from 46,591 that were filed during the same time frame in 2012.

However, there is a flip side to that coin that raises some concern. For the third month in a row new business filings in the Ohio have declined when compared to the month previous. The news source spoke with Ohio Secretary of State Jon Husted and discovered that in June there were 7,185 new entities that requested the ability to open up shop in the State.

The previous three months had 8,229 new business filings in May, 8,539 in April and 8,808 filed in March. That number is also down from where it was at this time last year. June 2012 saw 7,339 requests put in with the Secretary of State.

For businesses in Ohio, the increase in companies means more competition and business leaders need to find every competitive advantage they can. Whether it is adding new technology or improving the supply chain by partnering with a local courier service. organizations need to examine every aspect of their operations and do what it takes to stay ahead of the competition.