The American Recovery and Reinvestment Act of 2009 …
… Is the official name of what is known among the general population as Obama’s Stimulus Package, occasionally called “The Stim” by various news talking heads - the ones who are clever, that is.  An Obama Small Business plan does not appear to be in the works, but even critics acknowledge that the Obama Stimulus Plan contains a number of “good news” elements for small business owners, especially in certain sectors.  The entire package totals $787 billion, and this amount is arrived at by combining the value of tax cuts, direct cash infusions, and loan guarantees over and above those that already exist.

Barack Obama’s Stimulus Package - Obama For Small Business
In numerous stump speeches during the 2008 election process, Barack Obama consistently came out in favor of locally owned businesses.  That concern has carried over to his presidency.  Here are some elements of the Obama Stimulus that directly benefit small businesses:

• Larger loan guarantees - The U.S.

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Franchise Contracts For Buying a Franchise
Becoming the owner of a franchise is now more popular than ever.  One reason is due to the state of the economy, where former employees want to strike out on their own.  Another is the wide selection of franchises available for sale - everything from traditional fast-food restaurants and convenience stores to less conventional dog-walking services and mobile computer repair operations. 

Franchise contracts, also known as franchise agreements, are the legal documents you sign as a franchisee.  When buying into a franchise you will have certain rules to follow - a whole bunch of rules, actually - and obligations that must be met.  In return, the parent company agrees to perform a number of tasks on your behalf.  The franchise contract is the most important part of any franchise transaction - well, other than the money you pay to acquire it, of course.  Here are some things you should know before entering into a franchise agreement:

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Franchise Terms
Every industry or field of study has its own buzzwords and unique language.  This is true in medicine, real estate, book publishing, or just about any other venture.  People interested in buying a franchise will find it difficult to make wise business decisions without understanding the franchise terms that are in use - both as part of general conversation as well as what is contained in legal documents.  The following franchise glossary - a listing of franchise terms and franchise definitions - includes a basic explanation of words in common usage.  This list also includes franchise agreements terms.  It should be noted that many of these words or phrases have multiple meanings.  The intention of this franchise glossary is to convey only their meaning as they relate to franchising.

List of Franchise Terms & Franchise Definitions
Agent - A person or business entity that is legally empowered to act on behalf of an individual or company.

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Start a Franchise Business
Many small-business owners reach a point where their company’s success makes them think of expansion.  One possible way to enjoy additional income involves opening a second location, and then adding more as time and cash allows.  But an increasingly popular method involves franchising your business.  The franchising process will allow you to earn significantly more in both fees and royalties than you could ever hope to make by running multiple locations on your own.

The Process of Franchising
Franchising opportunities are available no matter what kind of business you run - whether it involves retail or wholesale locations, a mobile operation, or even a work from home situation.  The question of how to start a franchise rests upon several basic elements, all of which must be present in order to be successful.

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An Internet Business Opportunity Awaits
The most important question a prospective business buyer can ask is, “How much is that business worth?”  There are accepted methods to come up with the proper valuation of a “bricks & mortar” company, but an Internet business valuation rarely fits those parameters.  If you have an Internet business opportunity fall into your lap, or you are actively seeking out an Internet business for sale, how do you know that the asking price is a fair one?  Owning an Internet business can be fraught with difficulties; the last thing you want to do is pay too much.

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Getting the Low-Down on Franchises
For people who want to open a business they can call their own, the option of buying a franchise is clearly one of the best possible routes to take.  Franchises offer instant brand recognition, a proven operating system developed over many years, and plenty of corporate support.  But not everything is flowers and puppy dogs in the franchise world.  There is always the prospect of a franchise failure, and the smart entrepreneur should always look at the down side when contemplating any sort business investment.  The franchise failure rate will vary by industry and even depend upon the brand in question.  Specific details are noted below.

Here are the top five reasons why franchises fail:

1. Ineffective Parent Company
A successful franchise concept offers products or services the public needs, at prices people are willing to pay, and in a manner that makes them feel good about doing business with that establishment.  Conversely, franchise failures occur because they sell something consumers aren’t clamoring to buy, or else have indifferent feelings about.  If the parent company’s business plan is overly complex, or should the franchisor not provide an adequate level of support, your business will suffer accordingly.

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It’s business awards season again – the time when just about every company out there launches an award. Do you enter them? If you don’t, here’s why you should. 

Firstly, if nothing else, business awards are fantastic for teaching you how to write about your business in a positive way. If you’re planning to ever write tenders, you’ll know how important this skill is. Also, because you only have a small amount of space available to write why you should be considered for the award, you’ll need to be able to write about your business in a very succinct way. And then, once you’ve entered the award, if you are declared a finalist and if you’re lucky enough to win, the PR opportunities can be enormous. I know one of my contacts didn’t have to do any promotion at all, the year she won a massive business award. 

Having said that, small businesses in particular don’t often enter business awards because “we’re too small and we won’t win anyway.” My answer to this is how do you know? If every small business felt like that, we wouldn’t stand a chance out there when compared to the big companies.  So, come on – as long as the business award is free or very low cost to enter, why not?

Here’s some of the business awards out there right now (please note, if you’re holding a business award and your award isn’t on the list, please don’t be offended – it’s simply that I didn’t know about you). 

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“Business Seller Retiring - Priced to Move”
While searching for an existing small business to buy, the novice entrepreneur will come across a few deals that seem almost too good to be true.  There are times when a family situation or a dodgy medical condition may require a quick sale at a below-market price, but these are exceptions that come along rather infrequently.  Uncovering the truth as to why a person has decided to sell his or her business is the first step one should take in the due diligence process - an effort that should be extended to all aspects of the pending transaction.  But it is only the first step, as there are other red flags to be considered as well.

Hiding the Truth Behind the Sale
Business owners who are anxious to move on may tell a buyer just about anything to close the deal.  A savvy buyer would not purchase a used car without examining its repair history and having a trained mechanic check it over.  The same should be true when buying a business, especially since the price tag is significantly higher.  Of course, the fact that the owner plans to retire can be perfectly legitimate.  However, it should be your goal to uncover the reason behind that decision.  Here are a few avenues worth exploring:

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