Small Business Owners Still Doubtful about Economic Turnaround

Blog By JULIA L. ROGERS, AOL SMALL BUSINESS

Small businesses aren't quite buying the reality of economic recovery yet, reveals a survey conducted by the National Federation of Independent Business (NFIB) in March. Most have continued to be tight-budgeted, stalling hiring and expansion in the sector.

Entrepreneurs in small companies across industries are still frustrated as they watch larger companies get low-interest credit and enjoy rejuvenated businesses. Unfortunately, their pessimism and failure to take advantage of all benefits offered to them is seriously affecting the strength and speed of the recovery. Because of sour attitudes among those in the small business community, economic experts believe that President Barack Obama has his work cut out for him as he attempts to move forward with fresh policies to help smaller companies add jobs and expand. Reuters reports that issues related to employment and job opportunities are critical in this congressional election year and could make or break results...

To read the full article... click here.

Turkey's Moment

Its economy is hot again after a painful 2009, and some economists say it's a Germany in the making. The politics, though, are raucous.










Istanbul. Turkey has prospered while tension between Islamists and secularists has increased Kathryn Cook/Agence Vu/Aurora

To read more... click here.

Congrats Taki Sawi of Santorini Greek Kitchen!!!!

2010 Faces of Diversity American Dream Award winner: Taki Sawi

Business Sherpa says...
"One of Indy's best restauranteurs, congratulations Taki!!!!! If you haven't been to his restaurant--check it out for a real treat."
To view video go to... http://www.youtube.com/watch?v=FZjvwbCY2PU&feature=player_embedded

How I Did It: Jerry Murrell, Five Guys Burgers and Fries

Along with his sons, Jerry Murrell of Five Guys Burgers and Fries built a 570-store chain that enjoys a cult following.

Business Sherpa says... "Interesting read for anyone in the food business."

As Told to Liz Welch
Apr 1, 2010

Sell a really good, juicy burger on a fresh bun. Make perfect French fries. Don't cut corners. That's been the business plan since Jerry Murrell and his sons opened their first burger joint in 1986. When they began selling franchises in 2002, the family had just five stores in northern Virginia. Today, there are 570 stores across the U.S. and Canada, with 2009 sales of $483 million. Overseeing the opening of about four new restaurants a week, the Murrells are proof that flipping burgers doesn't have to be a dead-end job.

Read more to find out how they did it… click here.

How To Get Business SBA Approved - Doing so as a seller can help make your business more attractive to buyers.

By Richard Diomo, Bizquest Business for Sale Blog

Question:How do I get my business SBA approved? It seems like doing so would help to move the sale of my business faster.

Answer:This is a great question and you should be commended for being proactive about the financing portion of selling your business. The process is actually quite simple: if you engage a business broker, this is something they can do on your behalf. If you are selling the business on your own, then you should contact a local Preferred SBA lender. They will provide you with a list of documents required to complete the pre-qualification process. These will generally include:

• The most recent three year's of company tax returns
• Accompanying P & L statements and Balance Sheets
• Your W2
• Recent interim statements
• Asset list

From this they will determine if, under the right deal terms, the buyer will qualify for the SBA program. Plus, there will be some additional conditions relative to the buyer qualifications. They will be able to determine how much they are prepared to lend, what amount the buyer will need as a down payment, what amount (if any) they may ask you, the seller, to finance, and the fees involved to complete a transaction.

Keep in mind that this step is only a pre-qualification and, like all lenders, they will have plenty of disclaimers. However, once you obtain a pre-qualification status, it will provide you with a huge advantage when advertising your business. Make certain that you do not make any claims to prospects about the financing. This is only an initial pre-qualification.

The 7 Most Surprising Wine Regions

From China to Croatia and Beyond
By: Carly Wray, Snooth.com
Business sherpa says... "Some real surprises here."

You know that Croatia has a heartbreakingly gorgeous coastline, and that Idaho has famous potatoes -- but did you know that they both produce notable wine? It's not just novelty: More and more regions around the world are beginning to create legitimately intriguing, attention-worthy wines.

Some are just now climbing out of the jug wine ghetto, while others have been steadily building a tradition of fine winemaking for centuries. From Macedonia to the frozen vineyards of Ontario, Canada, here are the seven unsung or up-and-coming wine regions to check out next.

1. Croatia
2. Idaho
3. China
4. India
5. Brazil
6. Macedonia
7. Canada

To read more… click here.

Starting a Business with Limited Time and Money

By STEVE STRAUSS, AOL SMALL BUSINESS

Q: I would like to start my own business, but my problem is that I don't have a lot of money. I also have a job which I cannot quit. How do I start a business that way?

A: It is actually good that you have a job, since that makes starting a business on a shoestring much more viable: You keep the job while starting the new venture and work on it in the evenings and weekends. It will help pay the bills as you get started.While it would be nice to have a surplus of money to start your business, it is equally true that most small businesses are begun with less than optimal funding ... maybe not shoestring funding, but it can be done.
The most important thing is to pick the sort of business that can be launched inexpensively. Here are your best bets:

1. an online business
2. a service Business
3. a home-based business
4. a part-time business



to read more… click here.