Wait, what? You mean there is a use for LinkedIn? Yes there is, and the White House has found it!

According to the LinkedIn blog, the White House has been using the “Questions” feature on LinkedIn to ask small business owners what they think about healthcare reform.

“CEA Chair Christina Romer has posed a question on LinkedIn to engage in a dialogue with the small business community. She will be addressing your comments and questions in a live online video chat this coming Wednesday. We urge you to take part in this important dialogue and share your expertise and insights with our policy makers.”

Check out the full post at the LinkedIn blog here. And even better, check out Romer’s video answering the questions she received on LinkedIn here.

Nisha Chittal is a writer and journalist who currently serves as Associate Editor of CitizenJanePolitics.com and is a political columnist for UniversityChic.com. Her personal blog is Politicoholic, where she offers commentary on a range of topics, including but not limited to politics, technology, and the changing role of women and Generation Y in politics today.

If you are an entrepreneur or small business owner, you are the one who’s in control regarding your financial future.  There is no one else to rely on when it comes to saving and planning for the future, so you must take on this matter yourself.  The thing is many traditional savings and retirement plans are unavailable to you due to income limitations.  Here are a few savings options for entrepreneurs and small business owners.

Solo 401(k)

A solo 401(k) plan is a great alternative to the traditional 401(k), and was created for self-employed individuals, entrepreneurs, and small business owners with no full time employees.  The only exception to this is if the small business owner’s spouse is an employee.  Solo 401(k) plans have simplified administrative rules, unlike their traditional counterparts.

The advantage of a solo 401(k) is that it is simple to use and maintain.  You may contribute up to $13,000 of tax-deferred income, in addition to up to 25% of profit from your business.  As long as you contribute no more than $41,000 annually, you fall within the limits of the solo 401(k).  The amount you contribute to a solo 401(k) is completely discretionary and can be decreased or suspended at any time.  Additionally, loans against your plan, as well as hardship withdrawals may be allowed.  Rollovers from previous 401(k) plans are allowed as well.  

There are a couple of drawbacks to the solo 401(k).  Naturally, there is a cost to establish and administer a solo 401(k), which may or may not be desirable for the individual investor.  Solo 401(k) plans may not ultimately end up meeting your needs for you and your business.  If your business grows, you may end up needing to hire on additional full-time employees.  When this happens, you are no longer eligible for a solo 401(k), and must revert to a traditional 401(k), which is far less simple to administer.

SEP IRA

An SEP IRA, or Simplified Employee Pension Individual Retirement Account, is a savings and retirement tool that can be used by both small business owners and self-employed people as well.  SEPs are considered part of a profit sharing program, and the employer may contribute up to 25% of a qualifying employee’s income to the fund.

SEPs are affordable and simple to administer, and is an excellent benefit to provide to employees.  If an individual is self employed, they are still able to put aside a little over 18% of their net profit, which is a powerful savings tool indeed.  Contributions to the plan are tax deductible, and standard income tax applies to the money once it is withdrawn for retirement use after the investor reaches age 59½.  Additionally, its high contribution limits make it very attractive ($46,000 in 2008).

One of the drawbacks of this type of retirement plan is that it is seen strictly as a profit-sharing plan, so employees must have another savings vehicle if they wish to put more money away on their own.  There is no catch-up payment clause for those who started saving later in life, as there is with the solo 401(k).

SIMPLE IRA

Savings Incentive Match Plans for Employees (SIMPLE) IRAs are fairly simple to administer, no-hassle IRA plans that offer a great benefit for employees in your small business.  Recommended for businesses with 10 or fewer employees, it s a great savings tool to offer for employees, and benefits both parties in the process.

SIMPLE IRAs allow employees to contribute up to $10,500 of their annual income to the plan.  Employers match this amount as part of the process.  Employees are then vested and are eligible to receive this money upon reaching retirement age.  Contributions are tax deductible.

For business owners, the drawback of this type of account is that the employees doesn’t have to earn his or her vesting, but is vested once the account is opened.  That means matching someone dollar for dollar who may not be around to help you grow your company may not be a sound investment.  SIMPLE IRAs are also very strictly administered and cannot be rolled over, nor can a traditional IRA or 401(k) be rolled into a SIMPLE IRA.

SOLO DB Plan

This plan is a slimmed-down version of a standard defined benefit plan.  If you are looking to save a whole lot of money over a short period of time and have the resources to do so, this is the plan for you.

Like other retirement plans, contributions are tax-deferred and the money is available to you once you reach retirement age.  These plans are very popular with people in business for themselves who are over 50 years of age, due to the ability to save vast amounts of money in a short period of time in order to meet future income requirements for retirement.

The drawback for this type of retirement account is that investors must be willing and able to contribute ongoing mandatory contributions of at least $45,000 for five consecutive years to keep this plan going.  For many, this amount of money is simply not possible.  For the well-compensated small business owner or entrepreneur, however, this account could be just perfect.

Often when I am networking I hear small business owners say things like “I really want to have Eli Lilly, AT&T or GE as one of my clients.” Whenever I hear this I cringe, because I know that it is not enough to want one of these giant companies as a client, you have to have a plan. Not just a plan to land the deal, but a plan to find it and then how are you going to maintain that client.

In her book, Whale Hunting, Barbra Weaver Smith and Tom Searcy, uses the analogy of how the Inuit of Alaska hunted Whales to feed their villages to how small companies can land the Whale of their own. This is an easy analogy follow and carries with it a powerful story of perseverance, commitment, strategy and success.

Barbra and Tom layout the strategy for researching which whale you want to hunt, how to research your whale, capturing your whale, and celebrating your whale. This is a book that you must read if you are really interested in landing your own whale.

Networking is great, but you cannot ask for a referral to a whale if you do not have a plan for landing and managing that whale.

I cannot recommend this book enough, it is an easy read, and not only will you learn how to land your own whale there is a lot of very interesting history in this book that holds you attention as you read in amazement what the Alaskan Inuit could do with a row boat and harpoon. The planning, the implementing and the celebration are inspiring.

As a bonus, Barbara will be doing a whale hunting women workshop here in Indianapolis. It is a program that you want to take advantage of, not only for the educational aspect but for the ability to network with other women whale hunters. See you there!

Hazel M Walker, owns three award winning franchise’s. She is a 10 year owner of two BNI Franchises where she teaches members how to leverage their time and network to build each others businesses. She is also a Referral Institute franchise owner and teaches Business Owners how to harness the Science of Referrals to develop Referrals for Life. Hazel is a published author in New York Times best sellers Masters of Networking and Masters of Sales. As a member of the National Speakers Association she travels the world speaking to businesses and women’s organizations on the topics of networking to create a life you love.

I love Twitter, but I feel it’s time to make a stand for the fact that many people DO NOT need to use it – at least for business purposes.

I have met so many small business owners in recent months who are stressing out about the idea of needing to be on Twitter. They don’t know why they should be Twittering, but they know that everyone seems to be talking about it.

Small Business Owners, here is a message for you: unless you provide something that people can buy over the Internet or otherwise long-distance (e.g. phone consultations, a product, etc.), then the single most effective marketing effort you should undertake is picking up the phone (or writing an e-mail) and contacting current, past and potential customers. Next, plan lunch dates with other professionals and businesses that refer business to you. That’s it! Don’t worry about Tweeting or Blogging or Facebook-ing. Just focus on building stronger relationships with the people who already know who you and are likely to refer you, and I guarantee that your business will grow.

Give it a try, and let me know if you have any questions!

It’s hard not to notice all of the negative information in the world right now about how businesses are faring in this economy, but despite it all, as small business owners, we have an amazing opportunity to flourish regardless of the external conditions. This is because most small businesses are held back not by the market, but by the owner. Shocking, I know!

The truth is, it’s much easier to blame the economy, our customers, our employees, and almost anything else when we don’t succeed in our businesses than it is to look in the mirror and realize that we are at the helm, and we have a great deal of control over our businesses’ fate.

Here are three things that you can do today to begin steering your business in a powerful direction:

1. Get Uncomfortable: most of us have one thing that makes us more uncomfortable than anything else; for many of us it’s “cold calls.” Yet the single most valuable thing that most business owners can do when they need more business is to pick up the phone and start making phone calls. Get a list of prospects together, sit down, and commit to making 5, 10, 50, 100 calls – whatever you think you can do – each week. Just make them!

2. Ask For Input: when running a business, we wear multiple hats. These “hats” often have a constant internal dialogue that maintains our everyday business operations. The trouble is, our “hats” often forget to ask for outside opinions and insight. As a result, we can easily become disconnected from our customers, our employees, suppliers, and critical advisers who can provide valuable insight. Put on just one hat today: curiosity. Wear it to ask everyone you encounter three simple questions: 1) what do you think is going well with the business?; 2) what do you think needs improvement?; 3) do you have any ideas for what we should be doing?

3. Collect on Invoices: while the above two recommendations are about your personal behavior, this one is simply practical. It is a fact that businesses are shutting down, and you don’t want to be left holding the check if your customers go out of business. Reduce your billing cycles, and require COD whenever possible. Collect on all outstanding invoices to limit your exposure and ensure steady cash flow.

Barrington, NH: The down-turned economy has left many small business owners wondering what the future holds for them.  The fear of losing their business has encouraged several mom entrepreneurs to look for opportunity while others cut spending and layoff employees.

Thirty inspirational women will be highlighted over a period of 30 days on The Mom Entrepreneur blog <http://www.themomentrepreneur.blogspot.com> , which offers tips, advice and resources for balancing motherhood with running a company. These mom entrepreneurs’ stories demonstrate how these amazing women have decided to make “lemonade from lemons” using a little creative ingenuity.

“I have received dozens of emails from mom entrepreneurs all over the country telling me their “glass is half-full” stories,” said Traci Bisson, owner and founder of The Mom Entrepreneur <http://www.themomentrepreneur.com> .  ”From Misty Gibbs, owner of My
Inspiration Lounge whose vision is to “help women feel empowered, especially during this time, so they can take control of their lives and become better prepared for future downturns,” to Sarah Laufer, owner of Play Outdoors whose business launched in 2008. Laufer has decided to focus on “being who we are and continuing with our goal of creating a place where parents and kids are encouraged to get outdoors”.

These women and 28 more will be featured in a 30-day inspirational story marathon starting November 15 and concluding on December 14.

Mike Michalowicz <http://www.toiletpaperentrepreneur.com/author/index.php> , author of “The Toilet Paper Entrepreneur” (Obsidian Launch, LLC, 2008), in a guest post for The Mom Entrepreneur said “so here we sit, as entrepreneurs, on an economy that sucks. It will either revive over the next year or two or even perhaps die. But one thing for sure, it will get worse before it gets better. And it is now, right in this moment, that it is the best time to
start a business.”

The 30 stories in 30 days marathon will highlight mom entrepreneurs who also feel that now is the best time to start or grow a business because even in a sour economy lies optimism, promise and positive change.

To learn more about The Mom Entrepreneur and to follow the 30-day inspirational story marathon, visit www.themomentrepreneur.com.

About The Mom Entrepreneur:
Traci Bisson has been a mom since February 2000 and an entrepreneur since August 2000. Eight weeks after she returned from maternity leave, the company where she had been employed for five years went out of business. She decided to try doing her own thing and failed miserably. After another year of working for two different companies (the first laid off the department she worked in and the other was showing signs of going under), Bisson
decided to try entrepreneurship again.

Raising her two children and growing her first company, Bisson Barcelona <http://www.bissonbarcelona.com/> , an image management and high visibility PR firm, have been both challenging and rewarding.

Bisson started The Mom Entrepreneur in April 2008 as more of a hobby. She began blogging about her challenges and successes. That same month, she sent a query out through two news channels looking for tips on balancing family and business in order to generate some additional content for her blog. Bisson anticipated she would connect with a few other mom entrepreneurs, interview them and post their stories on her blog. In less then 48 hours she had received 400 emails with more then 1,000 tips from mom entrepreneurs all over the world.

From that point, The Mom Entrepreneur started to grow. The company added The Mom Entrepreneur Support Group
<http://themomentrepreneur.wordpress.com/support-group/>  in June, which now
has over 225 members who discuss everything from potty training to how to use Twitter.

Bisson’s story has been told in dozens of publications, including the Associated Press <http://www.bissonbarcelona.com/PDFs/WP_press.pdf> , National Federation of Independent Business (NFIB.com)
<http://www.nfib.com/object/IO_32411.html> , Women’s Business Boston Journal
<http://www.seacoastonline.com/apps/pbcs.dll/article?AID=/20080427/BIZ/80427
0319/-1/rss50> , Plan Ahead Get Ahead (cover story), Union Leader
<http://www.bissonbarcelona.com/PDFs/UL_press.pdf> , The Portsmouth Herald
<http://archive.seacoastonline.com/2005news/12022005/business/75996.htm> ,
Our Times <http://portsmouthnhemployment.com/2002ourtimes/6_1k_ot.htm>  and
Seacoast Ventures
<http://www.seacoastventures.net/entrepreneur/0107ent.html> .

Being a single mom and still providing for yourself or your children can be a very stressful and frustrating experience. There are many problems in finances for single moms and loans for single moms but getting help isn’t always easy so there are some services you should be aware of.

Education loans can be very tough to pay back, should you have debts remaining on your student loans. This may force many moms to consolidate their payments, which will put them into debt for 10-30 years, but allow them to keep out of bankruptcy longer. If you have children who wish to obtain student loans, and you are a single mother, it is harder to get such loans for a few reasons. First, women usually make less money than men. If you are a single mom, you don’t have a partner’s help with income, and also learn less than a man would. You are also less likely to have enough collateral to prove that you can pay the loans back, and you are more likely to have previous debts to pay. Education loans and single moms obviously do not mix well together, as you can see.

Like education loans, automobile and home loans operate in the same manner. You are more likely to be rejected for a house rather than an apartment, since houses on average cost much more. Automobiles also put single moms at a disadvantage- since automobiles often break down, requiring more money be spent. This makes the odds that a single mother can pay back a loan less likely, as maintenance can eat up much of a single mother’s income.

Business loans are another subject that may cause single mothers to have trouble obtaining loans. This is increasingly harder than other loans, since businesses are extremely risky operations. The odds of maintaining a successful business is usually quite low for small business owners. Having sufficient collateral is again a problem with single mothers, forcing many to not get the needed business loans to start their own business. Single mothers usually have a lower credit score, since they incur more debts than other couples or single men on average. This will also lead to a lesser chance of getting approved by credit card companies, making the buying power of single mothers even more burdensome.

However, there are ways to influence or take advantage of situations in favor of single mothers. You may speak with the Department of Social Services for things such as welfare, food stamps, child support, medical programs, and child care assistance. These programs can be found in phone books, government agencies or on this website. There is a lot of paperwork to apply, and the waiting time can be very long. The wait is often worth it, since single moms need all the help they can get.

School lunch and breakfast programs should be taken advantage of. This is a federal program that gives reduced prices or even free lunches and breakfast to kids who attend school, and eat at the school. Other grants can help you in funding for food or even gas and heating bills. Churches often have programs to help as well, and you should explore all of these options for a better life for children a single mom may have. Reduced prescriptions and free counseling are also available to those who apply- so make sure you take advantage of such offers to the fullest.

When looking to improve your credit score, you should have family members or roommates split bills, and put some bills in your name. This will improve your dependability and credit rating. Also make sure that you stay away from penalties such as bounced checks, which can effectively ruin your credit. Doing this will eventually raise your credit score enough to gain some respect among loan specialists, which can bring you to a new step above where you previously were.

When you have better access to loans, you can get lower rates. You can better obtain a business loan, for example, with your improved credit rating. You may also co-sign loans with family members to add credit to your score- and regular payments will again boost it. In case you can not make a payment, the money is then billed to your family member- so either way the bank will most likely get its money. This is the best way to obtain a loan if you are not qualified enough, and doing so is one of the best ways to improve your credit.

Over all, single moms are at a disadvantage. Statistically, they will make less money and not qualify for loans. They will also have more poor living experiences, and will have less buying power. Following the previous steps will allow single moms to achieve a better way of life for them or their children, regardless of their standing in society’s hierarchy.

The goal of SingleMomFinancialHelp.com is to help women change the world through information and education. We are creating a support structure through which all women of the world can educate one another about where they have been, where they are right now and where they are going. With help from our site and the information and articles we distribute women will be more educated in finance, business, home matters, relationships, career and higher education.

I like to believe that I coined the expression “Mama Karma”.

We’ve all experienced Mama Karma at some point during our journey through motherhood. It starts with a comment you make about someone else’s child. Perhaps while dining out, you hear the banshee screams from a toddler on the other side of the restaurant. You notice a circle of discarded food in a 4 foot perimeter around the highchair and a toddler covered from head to toe with food.  You think to yourself or may even proclaim out loud, “Thank GOD, my child does not act like that in restaurants! My little one has always been so well-behaved.”

And that’s when you are destined to be hit with Mama Karma. It might not happen right away. It may occur during the next phase in your child’s development. (You know, those “Terrible Twos” or those dreaded teen years that everyone keeps warning you about?) Perhaps, your next child will bring on the boomerang of Mama Karma.  It may take weeks, months or even years but Mama Karma will eventually hit you with an unexpected dose of reality.

The bottom line is never say never, especially when you are a parent.  As soon as you utter the words “My child has never”, you are destined to eat them in time.

Mama Karma has recently reared its ugly head once again in the Taylor home.  Having been a creator of the expression “Mama Karma”, you would think I would learn by now.  Alas, even the professor needs to learn a lesson or two.

I made the mistake of boasting how my children never watch the show Yo Gabba Gabba!  If you are not familiar with the preschool program, Noggin and Nick Jr air daily raves for our preschoolers and the popularity of the show makes me cringe.  Like a product of a bad acid trip, bizarre creatures live in DJ Lance Rock’s boom box and teach life-lessons to a hip-hop beat.  Admittedly, the tunes are very catchy, but I always manage to change the channel or avoid the television when this show airs.

As to be expected, after denouncing the existence of the happy hip-hop program, my children begged me to watch the show a week later.  Realizing I had experienced yet another dose of Mama Karma, I made the best of an awful situation by dancing and skippy, skip, skip, skipping around my living room with my children.  Thankfully, my children have not asked to watch the show again since then.  If by chance my children do ask to watch the show again, I will remind them they must tidy up their toys and pick it up, pick it up, pick it up before they can watch the show.

There are many lessons to be learned for all of us.  Thanks again, Mama Karma.