There are many tax deductions you can take advantage of that you might not have considered. Here are 45 lucrative small business tax deductions.

There are many tax deductions you can take advantage of that you might not have considered. Here are 45 lucrative small business tax deductions.

 

Making tax mistakes can cost you and your small business a lot of money, stress, and time. Tax mistakes and IRS fees are very expensive. We’ve written before on the true cost of tax mistakes, but this time we want to share with you some of the ways you can save money on your taxes. There are many tax deductions you can take advantage of that you might not have considered.

The trick to getting any of these small business tax deductions is to keep meticulous records of your expenses – both business and personal. Yes, you can save money on your taxes for both personal expenses and business expenses if you meet certain criteria. Keep reading to find out what those are.

Top 45 Small Business Tax Deductions

  1. Accounting fees
  2. Worker’s compensation insurance
  3. Business association membership dues
  4. Donations to business organizations
  5. Business use of your car (payments, insurance, gas, and maintenance)
  6. Business trips
  7. Employee wages, benefits, and bonuses
  8. Employee education and training
  9. Meals and lodging provided to your employees
  10. Your business’ rent
  11. Taxes on leased business property (deducting property taxes as additional rent)
  12. Improvements to leased business property
  13. Franchise fees
  14. Depreciation on assets (such as cars used for your transportation business)
  15. Business use of your home (mortgage interest, insurance, utilities, and repairs)
  16. Indian Employment Credit
  17. Empowerment Zone Employment Credit
  18. Gifts to customers ($25 limit)
  19. Uniforms for your employees
  20. Disabled access
  21. Employee childcare
  22. Work opportunity credit (for hiring from targeted groups)
  23. Operating in a hurricane disaster zone or disaster area
  24. Business insurance
  25. Legal and professional fees (even for your tax accountant!)
  26. Interview expenses
  27. Energy efficient commercial buildings deduction expenses
  28. Licenses and regulatory fees
  29. Subscriptions to trade or professional publications
  30. Outplacement services
  31. Penalties and fines you pay for late performance or nonperformance of a contract
  32. Supplies and equipment
  33. Part of your personal phone bill when used for business calls
  34. Health care premiums (as a sole proprietor)
  35. Bank fees
  36. Employee pension plans or profit sharing
  37. Advertising costs
  38. Certain business start up expenses
  39. Cost of goods sold
  40. Theft and loss
  41. Freelancers/contractor labor
  42. Professional services and consultants
  43. Moving your business (more than 50 miles)
  44. Intellectual property expenses (copyrights and trademarks)
  45. Interest accrued on business loans (Need a business loan? Contact us today)

Hopefully your small business qualifies for many of these small business tax deductions.

Remember to talk to your certified accountant before attempting to deduct any of these – we are not tax professionals and are not offering tax advice. If you need help doing your taxes or would like free tools, check out these 5 affordable tax tools.

 

For information about Opportunity Fund’s small business loans, please contact us at 866-299-8173 or loans@opportunityfund.org.  For questions about your existing loan or other customer service questions, please contact us at 866-299-8173 or sbhelp@opportunityfund.org.

Loans are subject to credit review. Additional documentation may be required for credit approval. We are an Equal Opportunity Lender. Loans will be made or arranged pursuant to California Department of Corporations Finance Lenders License #6050609.


Opportunity Fund is tackling economic inequality so that hard work and perseverance means a shot at getting ahead, not just struggling to get by. Our programs are supported by a community of donors and investors whose contributions help to fund small businesses, support college students, and build stronger families and vibrant neighborhoods. Since 1994, the team has deployed $600 million and helped 20,000 families earn, save and invest in their own futures. Opportunity Fund has earned a 4-star rating from Charity Navigator, America’s largest independent charity evaluator, for our commitment to accountability and transparency.

Visit us online at http://opportunityfundloan.org and follow us on Facebook and Twitter

Thinking about selling your goods at a farmers market, craft show, or flea market? There are a lot of steps, costs, and considerations you should know before you get started. Read how much the process really costs and how to properly prepare for selling at local markets.

Thinking about selling your goods at a farmers market, craft show, or flea market? There are a lot of steps, costs, and considerations you should know before you get started. Read how much the process really costs and how to properly prepare for selling at local markets.

 

If your small business doesn’t have a brick-and-mortar location, taking advantage of foot traffic to boost sales sounds like a far reach. But at local markets – such as farmers markets, craft shows, or flea markets – you have that physical store benefit without the expensive real estate commitment.

But selling local markets isn’t free or easy either. It takes a lot of research, time, and money before you can start reaching customers. The process doesn’t vary too much between different types of markets, so let’s take a close look at the true cost of selling at a farmers market.

How Much it Costs to Start Selling at a Farmers Market

As with everything you read online, take information with a grain of salt and make sure to do your own research specific to your state, desired market, and business industry. Here is a list of some of the costs you should be aware of before you start the process:

    • You’ll need to spend a lot of time visiting your desired markets, talking with other vendors, waiting for an open booth, and more. If you’re swamped with your business as it is, you might need to hire some help.
    • Application fees vary between each market, but expect to pay one even if you don’t get a spot. Sometimes you might even need to pay a processing fee that could cost you $100 just to get on the waiting list.
    • Permits can cost hundreds of dollars, and you might need to apply for more than one. Wait to apply for permits until you’ve been accepted into a market so you don’t waste your money. Permit requirements vary between states and counties, so make sure to check which ones you will need.
    • You might need to write off samples. Many local markets, especially non-produce goods for farmers markets, will require that you come and present samples of your goods before a jury of the organization. When you do finally get a booth, you will also get customers who want to sample your products at the table.
    • Stall fees are what makes selling at local markets risky because you pay a flat fee instead of a percentage of sales. Expect to pay anywhere from $20-$50 a week or $500 for a six month period at local farmers markets. Craft expos may charge upwards of $300 for the duration of each event. Spots are high in demand, so organizations want to make sure there aren’t any dead-weight businesses. The key is to balance how much inventory to bring and what price points to offer so that you don’t lose money each time.

 

  • Insurance is the invisible cost that many don’t think about until they need coverage. If there are any incidents from theft to injury, you’ll want to make sure your booth is covered by insurance before you set up.

 

For information about Opportunity Fund’s small business loans, please contact us at 866-299-8173 or loans@opportunityfund.org.  For questions about your existing loan or other customer service questions, please contact us at 866-299-8173 or sbhelp@opportunityfund.org.

Loans are subject to credit review. Additional documentation may be required for credit approval. We are an Equal Opportunity Lender. Loans will be made or arranged pursuant to California Department of Corporations Finance Lenders License #6050609.


Opportunity Fund is tackling economic inequality so that hard work and perseverance means a shot at getting ahead, not just struggling to get by. Our programs are supported by a community of donors and investors whose contributions help to fund small businesses, support college students, and build stronger families and vibrant neighborhoods. Since 1994, the team has deployed $600 million and helped 20,000 families earn, save and invest in their own futures. Opportunity Fund has earned a 4-star rating from Charity Navigator, America’s largest independent charity evaluator, for our commitment to accountability and transparency.

Visit us online at http://opportunityfundloan.org and follow us on Facebook and Twitter

Frank started The Point Coffee Shop after retiring from a long career working for the City of Jacksonville. His coffee shop gives a lot to the community: down home cooking, employment opportunities, and a meeting space for local organizations. Our partnership with Lending Club connected Frank with the working capital loan he needed to keep his business strong, so he can focus on helping his hometown thrive.

Our customers inspire us every day, and we want to regularly share those stories to inspire you, too.

Frank started The Point Coffee Shop after retiring from a long career working for the City of Jacksonville. His coffee shop gives a lot to the community: down home cooking, employment opportunities, and a meeting space for local organizations. Our partnership with Lending Club connected Frank with the working capital loan he needed to keep his business strong, so he can focus on helping his hometown thrive.

Changing Careers While Staying Focused on Community

Frank Lyons started The Point Coffee Shop in Jacksonville, Fla. in 2014. The Point is more than just a friendly neighborhood diner. Aside from serving unique crab patty breakfasts, Frank also serves his community through local advocacy and job creation.

Frank helped shape local policy and create job opportunities for minority workers over a career that spanned four decades working for the City of Jacksonville with local government officials in roles like Fire Chief and executive for Jacksonville Electric Authority. “I was privileged to help change some things in Jacksonville,” Frank said. “I’m still trying to.”

After retirement, Frank saw a chance to keep working in the community by opening his restaurant. In addition to the neighborhood seniors who come in for a hot, home cooked breakfast, local organizations seek out The Point as a neighborhood hub.

The Point Coffee Shop

Frank turned his coffee shop into a neighborhood fixture with good food and good company (photo courtesy of Jack Edwards)

“I host meetings here at my business,” Frank said. “Neighborhood pastors, people from the Teacher’s Association, and the Community Association come here. We took an area that wasn’t as active and available to the community, and now people love it.”

Frank needed working capital to help purchase equipment. Like many small business owners, Frank had to dig deep to start his business and keep it going. “I started this business on a shoestring,” he said. “I had to do it out of pocket after a business partner bowed out. I was determined to make this business work, so I stayed with it.”

Growing the Business Within the Neighborhood

Despite running a successful business for years, Frank had few options for business lending. “We heard a lot of promises, but nothing real,” he said.

Opportunity Fund business loan advisor Rexie Dumagan helped close a $14,000 loan in November 2017.  “Nobody else would help us,” Frank said. “Opportunity Fund got us to where we needed to be and where we are today.”

The Point’s impact as a hyper-local small business extends to all aspects of the community. Frank’s five employees all live in the neighborhood, close enough to walk to work every day. His unstoppable entrepreneurial spirit and local pride are driving forces behind The Point’s upcoming expansion. “I acquired a building down the street that holds 60 people,” Frank said. “Right now, my shop has a capacity of about 22. We get to stay in the neighborhood while expanding our business.”

We’re proud to support locally-oriented business owners like Frank, and we’re honored to watch our small business loans drive positive change in communities in Florida and beyond.

We hope this story has inspired you, too.  At Opportunity Fund, we offer easy-to-get, fast, and affordable small business loans to help small business owners succeed.  Visit our home page to find out more.


Loans are subject to credit review. Additional documentation may be required for credit approval. We are an Equal Opportunity Lender. Loans will be made or arranged pursuant to California Department of Corporations Finance Lenders License #6050609.

Opportunity Fund is tackling economic inequality so that hard work and perseverance means a shot at getting ahead, not just struggling to get by. Our programs are supported by a community of donors and investors whose contributions help to fund small businesses, support college students, and build stronger families and vibrant neighborhoods. Since 1994, the team has deployed $600 million and helped 20,000 families earn, save and invest in their own futures. Opportunity Fund has earned a 4-star rating from Charity Navigator, America’s largest independent charity evaluator, for our commitment to accountability and transparency.

Follow us on Facebook and Twitter

Pledging your vehicle or your home as collateral for a loan sounds scary, but don’t worry. Keep reading to learn about the process and what happens to your collateral when you get a loan.

Pledging your vehicle or your home as collateral for a loan sounds scary, but don’t worry. Keep reading to learn about the process and what happens to your collateral when you get a loan.

 

Images of your car getting taken from you swirl around when you think of pledging it as loan collateral? You’re not alone. We’re here to help clarify and educate.

The specific process and requirements for backing a small business loan differ between financial institutions, but this is how it works at Opportunity Fund.

What kinds of collateral are accepted by Opportunity Fund?

Opportunity Fund accepts motor vehicles, real estate, and UCC-1 as collateral. A UCC-1 is a document which serves as a lien on commercial property. Filing a UCC-1 statement for securing collateral for a business loan is required for business loans under the Uniform Commercial Code (UCC). To learn more click here.

What does pledging collateral entail?

The pledge of collateral is written into the signed loan documents. If you are pledging a motor vehicle, you will need to list Opportunity Fund as a lien holder on the vehicle title – called a “pink slip” in some states. Pledging real estate requires that you sign a Deed of Trust, which is then recorded with the County of Record.  

Speak to one of our staff members for more information if your loan will require backing as each case is unique.

When could collateral be repossessed? How can you stop it?

If your collateral is up for repossession due to failure to pay, Opportunity Fund will send a notification by mail. Generally, you can post payment to your account to halt proceedings. If you find yourself unable to make on-time payments, please talk with one of our staff members. It is our mission to help your small business succeed, and the sooner you reach out to us, the better we can support you.

Once a loan has been paid off, what happens then?

Congratulations! Collateral is released back to you after the loan is paid in full.

The motor vehicle process varies between states and title types, but this process may include Opportunity Fund sending a physical title back by mail with the lien signed off for release or an electronic release with the state who will then mail a clean paper title back to the owner. Check your state’s DMV for more specific details.

Real Estate will have a reconveyance filed by Opportunity Fund. Depending on county requirements, this will be filed electronically or manually.

UCC-1s are released by request or expire after 5 years except for Wyoming.

Once your loan is paid off in full and your collateral is released, your small business is all set for success.

 

For information about Opportunity Fund’s small business loans, please contact us at 866-299-8173 or loans@opportunityfund.org.  For questions about your existing loan or other customer service questions, please contact us at 866-299-8173 or sbhelp@opportunityfund.org.

Loans are subject to credit review. Additional documentation may be required for credit approval. We are an Equal Opportunity Lender. Loans will be made or arranged pursuant to California Department of Corporations Finance Lenders License #6050609.


Opportunity Fund is tackling economic inequality so that hard work and perseverance means a shot at getting ahead, not just struggling to get by. Our programs are supported by a community of donors and investors whose contributions help to fund small businesses, support college students, and build stronger families and vibrant neighborhoods. Since 1994, the team has deployed $600 million and helped 20,000 families earn, save and invest in their own futures. Opportunity Fund has earned a 4-star rating from Charity Navigator, America’s largest independent charity evaluator, for our commitment to accountability and transparency.

Visit us online at http://opportunityfundloan.org and follow us on Facebook and Twitter

This is your bi-weekly calendar for in-person and virtual events in Northern and Southern California. Here are the best upcoming events from October 16 through 31.

Every two weeks, we’re sharing and promoting free or affordable events that help small business owners run their businesses better. This is your bi-weekly calendar for in-person and virtual events in Northern and Southern California.

Here are the best upcoming events from October 16 through 31.

Northern California/Sacramento

Market Research
Date: October 23, 2018 | 6:00 pm PDT – 9:00 pm PDT
Location: 234 E. Gish Rd. Suite 100 San Jose, CA 95112 (map it)
Contact: info@svscore.org | (408) 453-6237
Organization: Silicon Valley SCORE
Fee: $45

Join this workshop on the basics of market research and learn how to develop the knowledge and skills to find the information you need for your small business through developing a prepared question set and modeling. This class addresses primary and secondary research: the questions to ask, who to ask, and what to do with the answers. Key topics and learning outcomes include:

  • Your market: How large is it? Is it growing or shrinking?
  • Your customers: Who are they? What are they looking for?
  • Your competitors: What are the segments they’re targeting? How can you compete?
  • Your data:  What are the sources of primary and secondary market data? How do you get them?
  • Your markets: How do you model markets where you can’t find data?

Click here to register for this event.

2018 West Contra Costa Economic Summit
Date: October 24, 2018 | 10:30 am PDT – 2:30 pm PDT
Location: The Craneway Pavilion
1414 Harbour Wy. Richmond, CA 94804 (map it)
Contact: staff@rcoc.com | (510) 234-3512
Organization: Richmond Chamber of Commerce
Fee: $20 for Richmond Chamber of Commerce members | $30 for non-members

Join the West Contra Costa Economic Summit and learn about the West Contra Costa business climate and resources for local businesses. Enjoy a business expo and networking plus a panel discussion with West Contra Costa County mayors from El Cerrito, Hercules, Pinole, Richmond, and San Pablo. Lunch will be provided.

Click here to register for this event.

Women of Color: Scale Your Business and Succeed
Date: October 30, 2018 | 11:00 am PDT – 3:00 pm PDT
Location: Federal Reserve Bank
101 Market St. San Francisco, CA 94105 (map it)
Contact: (415) 333-2130
Organization: National Association of Women Business Owners
Fee: $35 for NAWBO members | $45 for non-members

Inc. magazine reports that every year corporations in the United States spend more than $2 trillion buying services and products from small businesses. The Women’s Business Economic Council reports that typical women entrepreneurs see revenue increases of 266% within a two-year period of winning their first corporate client.  

Women like you make dynamic business leaders, but many female entrepreneurs are unaware of opportunities that can help them scale their business, increase their revenue and grow their business. Winning contracts with large corporations can be key to overcoming barriers in entrepreneurship—we’ll show you how at this event.

Join us to meet local business women just like you who have transformed their businesses, industries, and communities by securing lucrative contracts with large corporations and government agencies.

Enjoy lunch, networking opportunities, and a presentation and panel discussion on how to make key connections for your small business.

Click here to register for this event.

Southern California/San Diego

How to Use Video to Elevate your Business and Message Online
Date: October 22, 2018 | 5:30 pm PDT – 7:30 pm PDT
Location: VEDC Women’s Business Center
5121 Van Nuys Blvd. Ste. 300A Sherman Oaks, CA 91403 (map it)
Contact: info@vedc.org | (818) 907-9922
Organization: VEDC
Fee: Free

It’s essential to use video to engage your online audience, especially on mobile and social media. Once you have a game plan, video production can be a fun and creative endeavor in your business journey. Join this this free workshop to learn the steps of your video strategy and production.

Click here to register for this event.

Legal Aspects of Business
Date: October 24, 2018 | 6:30 pm PDT – 8:00 pm PDT
Location: The Big House
180 E. 35th St. Los Angeles, CA 90011 (map it)
Contact: Cathleen Hy | chy@pacela.org | (323) 293-6284 ext. 242
Organization: PACE Finance Corporation
Fee: Free

Join PACE Business Development Center for this free workshop on the legal aspects of business. Meet one-on-one with business experts to discuss specific questions and legal issues relating to the creation and running of a small business including the following topics:

  • Choice of entity
  • Contracts and leases
  • Intellectual property
  • Employment

Click here to register for this event.

Accounting for Non-Accountants
Date: October 26, 2018 | 10:00 am PDT – 1:00 pm PDT
Location: 1003 East Cooley Dr. Suite 109 Colton, CA 92324 (map it)
Contact: (909) 890-1242
Organization: Inland Empire Women’s Business Center
Fee: Free

Are you earning money and paying bills, but don’t know how to make sense of your numbers? Do you want to understand your finances so that you can feel confident and in charge, making strategic decisions that will benefit your business and your future? Join us to make sense of your numbers and create a greater impact in your business and life.

Click here to register for this event.

Virtual

Ten Best Free/Affordable Social Media Management Tools
Date: October 18, 2018 | 4:00 pm PDT – 5:30 pm PDT
Location: Online—Webinar
Contact: Sarah Espinosa | sespinos@uncfsu.edu | (910) 672-2683
Organization: Fayetteville State University Veterans Business Outreach Center
Fee: Free

There are way too many things to do on social media for small businesses to deal with. Let’s talk about the best options for businesses to eliminate hassles that won’t break the bank.

Click here to register for this event.

Midterm Election Alert: How to Deal with Political Discussions in the Workplace
Date: October 23, 2018 | 11:00 am PDT – 12:00 pm PDT
Location: Online—Webinar
Contact: info@nw-njsbdc.com | (908) 269-8475
Organization: NJSBDC of Northwest Jersey
Fee: Free

As midterm elections near, the political debates taking place across the country are likely to spill over into the workplace. As a result, employers may encounter heated discussions around the water cooler about the candidates and issues, or explicit statements about employees’ political stances.

This places employers in a tricky situation. You want your workers to be comfortable expressing themselves, but you also have a right to a peaceful, productive work environment. To complicate matters further, some of the topics being debated can lead to claims of harassment.

Attend our free webinar to learn:

  • How office politics can lead to a harassment lawsuit
  • The definition of a hostile environment, based on real-life scenarios
  • What you can and can’t do about employee use of social media
  • Tips to legally limit on-the-clock political discussions
  • Practical approaches to keeping the peace and restoring productivity

Click here to register for this event.

Simple Social Media Graphics: Make Your Posts Visual
Date: October 30, 2018 | 8:00 am PDT – 9:00 am PDT
Location: Online—Webinar
Contact: help@score.org | (800) 634-0245
Organization: SCORE Association
Fee: Free

A visual content campaign or infographics to promote your products and services can be time-consuming and overwhelming for small businesses, especially if you don’t have graphic design experience.

Bite-sized infographics and images used through social media can be just as compelling as long scrolling infographics. Your customers are busy too, and more likely to consume and engage with visual content they can quickly process, digest, and share with their networks.

Join this free webinar and learn:

  • Start with design—even for beginners
  • Ten types of images you can create and share through social media
  • Branding your visuals on social media

Click here to register for this event.

We’re looking for upcoming events to promote to small business owners like you. If you have an event you’d like to share with fellow business owners, contact us at sblending@opportunityfund.org.


For information about Opportunity Fund’s small business loans, please contact us at 866-299-8173 or loans@opportunityfund.org.  For questions about your existing loan or other customer service questions, please contact us at 866-299-8173 or sbhelp@opportunityfund.org.

Loans are subject to credit review. Additional documentation may be required for credit approval. We are an Equal Opportunity Lender. Loans will be made or arranged pursuant to California Department of Corporations Finance Lenders License #6050609.


Opportunity Fund is tackling economic inequality so that hard work and perseverance means a shot at getting ahead, not just struggling to get by. Our programs are supported by a community of donors and investors whose contributions help to fund small businesses, support college students, and build stronger families and vibrant neighborhoods. Since 1994, the team has deployed $600 million and helped 20,000 families earn, save and invest in their own futures. Opportunity Fund has earned a 4-star rating from Charity Navigator, America’s largest independent charity evaluator, for our commitment to accountability and transparency.

Visit us online at opportunityfundloan.org and follow us on Facebook and Twitter

If you don’t think your American business needs to comply with the new GDPR, think again. Our content partner Nav explains what the GDPR is and why your small business should start taking action immediately.

If you don’t think your American business needs to comply with the new GDPR, think again. Our content partner Nav.com explains what the GDPR is and why your small business should start taking action immediately.

 

News of the General Data Protection Regulation (GDPR) has been floating in our peripherals since it was passed by the European Parliament back in 2016, but as of May 25, 2018, the privacy-focused piece of legislation will finally go into effect. And, though it’s specifically designed for those in the EU, American business owners are not exempt from impact.

As an American business owner with your own set of privacy rules and regulations to contend with, the GDPR may not seem like much of a concern. However, since the regulations impact all organizations that process or hold EU customer data, any American business that falls into that category (i.e., businesses that have a web presence and/or sells their products to citizens within the EU) will need to comply.

You’ll note that “web presence” was included, not just the notion of selling products or services. That’s specifically because of stipulations that focus on the collection of personal data, not just monetary transactions

So, any organization that collects identifiable information (PII), which includes social security numbers, phone number, salary, race, marital status, military rank or civilian grade, age, medical records etc., from EU citizens will need to be in compliance.

Top GDPR Takeaways for Small Businesses

You know what the GDPR is, generally, but what specific things will be required of businesses? Here are a few of the most significant regulations and considerations that you’ll need to take into account if you want to be in compliance.

  • Seventy-two-hour breach notification:  Just like it sounds, any organization or company that detects a customer data breach must notify the national authorities within seventy-two hours of that breach, and in some cases, customer notification must also take place.
  • Consent for data is a must: Companies and organization must obtain explicit and informed consent when collecting and/or processing data from individuals, even if it’s something as simple as an email list.

Explicit consent should be used if an organization wants to validate the sensitive data for use. Additionally, the consent must be achieved with a clear affirmative action, which means that that companies can no longer use “opt-out” or pre-checked boxes to achieve that consent.

         Further, consent requests must be separate from terms and conditions; cannot, in most cases, be a contingency for signing up; must be granular or designed in such a way that consent is specific to each type of processing; and named, meaning the individual must be made aware of what organizations or third-parties rely on that consent.

         Finally, organizations must document the aforementioned consent, including the specific consent requested/provided and when that consent took place, individuals must have the right to withdraw their consent at any time, and organizations must provide information about how an individual can withdraw their consent as well as an easy path to do so.  

  • The right to be forgotten: organizations and businesses must comply with a request by an individual to “be forgotten” or to have a copy of their data.  Though simplistic in theory, the right to be forgotten will require that all organizations be able to delete not only primary data but also any data duplications, be they due to operational processes (i.e., cloud storage backup) or unspecified employee lead duplication.  This will require universal conversations and policies among all departments and employees who can access, copy or otherwise maintain customer data.
  • Any data processed for a child under sixteen is considered unlawful if there is no prior parental consent; however, states within the EU can opt to reduce that age, with 13 years of age representing the cutoff.

The aforementioned are just a few of the more specific requirements that business owners must meet if they want to become compliant with the GDPR.  Some of these requirements may take a few weeks (or months) to plan and execute, and so, as mentioned above, it’s best to start as soon as possible, if you haven’t already.

To get started, or make sure your efforts are aligned with expectations, considering the following steps.

  1. Analyze your current data processes; this includes how you obtain data as well as how you process and maintain that data. If you don’t have one already, you should have a Personal Information Assessment (PIA), and in some cases you may need a Data Protection Impact Assessment.
  2. Work with your legal department to fully understand and address the GDPR requirements (like the DPIA; however, efforts should extend past legal departments or consultants and include contact with multiple departments, including IT, Marketing, and Finance, as many are directly involved or involved.
  3. Create a plan, not only for immediate compliance, but for long-term data procurement, management, and processing.  The end result should be a data privacy and security plan that can act as guidance for the future operations as well as documentation for compliance.

Companies that don’t comply (or document that compliance) with the GDPR face substantial fines of up to four percent of global revenues. And while that amount can be damaging to any organization, small businesses that depend on every cent may suffer the most from non-compliance. During the next little while, your time will be especially precious as you work to ensure your business is compliant. The average business owner spends 33 hours applying for credit, you can save that time by checking with Nav.

If you’re not currently compliant, take a deep breath. Garnter, Inc. suggests that by the end of 2018, more than fifty percent of American businesses will be non-compliant.

Of course, that doesn’t mean that herd mentality will protect you from non-compliance in the event of a data breach – we all know how frequent they are these days.  For that reason, it’s important to address the issue immediately and take the steps required to meet GDPA requirements

 

This article originally appeared on Nav.com and was re-purposed with their permission.

For information about Opportunity Fund’s small business loans, please contact us at 866-299-8173 or loans@opportunityfund.org.  For questions about your existing loan or other customer service questions, please contact us at 866-299-8173 or sbhelp@opportunityfund.org.

Loans are subject to credit review. Additional documentation may be required for credit approval. We are an Equal Opportunity Lender. Loans will be made or arranged pursuant to California Department of Corporations Finance Lenders License #6050609.


Opportunity Fund is tackling economic inequality so that hard work and perseverance means a shot at getting ahead, not just struggling to get by. Our programs are supported by a community of donors and investors whose contributions help to fund small businesses, support college students, and build stronger families and vibrant neighborhoods. Since 1994, the team has deployed $600 million and helped 20,000 families earn, save and invest in their own futures. Opportunity Fund has earned a 4-star rating from Charity Navigator, America’s largest independent charity evaluator, for our commitment to accountability and transparency.

Visit us online at http://opportunityfundloan.org and follow us on Facebook and Twitter

This is your bi-weekly calendar for in-person and virtual events in Northern and Southern California. Here are the best upcoming events from October 1 through 15.

Every two weeks, we’re sharing and promoting free or affordable events that help small business owners run their businesses better. This is your bi-weekly calendar for in-person and virtual events in Northern and Southern California.

Here are the best upcoming events from October 1 through 15.

Northern California/Sacramento

Women’s Lunch & Learn: Life Work Balance
Date: October 4, 2018 | 11:30 am PDT – 1:30 pm PDT
Location: Foothill Event Center
400 Idaho Maryland Rd. Grass Valley, CA 95945 (map it)
Contact: Gilda Perez | gilda.perez@sba.gov | (916) 735-1704
Organization: California Capital Women’s Business Center
Fee: Free

Everyone wants a happy and productive life. A balanced life is essential to happiness, but it’s not one size fits all. As we try to juggle everything in our lives and find a balance, we can feel overwhelmed. This presentation will help you learn key skills for establishing a life work balance:

  • How to track where your time goes now and complete a goal sheet for focusing your time
  • How to find your personal balance for your needs today
  • How to define what’s important for your life today
  • How to balance your work and personal life on your terms

Click here to register for this event.

Small Business Series: Reduce Your Business Taxes
Date: October 4, 2018 | 6:00 pm PDT – 7:30 pm PDT
Location: Dr. Martin Luther King, Jr. Library—SJPL Works 3rd Floor
150 E. San Fernando St. San Jose, CA 95112 (map it)
Contact: sjplworks@sjlibrary.org | (408) 808-2310
Organization: SJPL Works: Career & Business
Fee: Free

Join this free workshop to learn how to structure your small business taxes correctly. You can ensure tax time is a little less burdensome for your business by learning the differences between business structures.

Registration is encouraged. Parking validation for 4th St. garage will be provided at the program.

Click here to register for this event.

Creating Business Success: Mastering the Art of Scaling Your Business
Date: October 13 or 14, 2018 | 10:00 am PDT – 4:00 pm PDT
Location: 7543 N. Ingram Ave. #106 Fresno, CA 93711 (map it)
Contact: hello@herspacefresno.com | (559) 776-2004
Organization: Her Space Fresno
Fee: $50

Join Her Space Fresno for this interactive event. A dozen expert speakers will coach you on how to scale your business. The program is offered on two days over one weekend and includes:

  • Live speaker interviews
  • Panel discussion with Q&A time
  • Speed networking
  • Vendors
  • Swag bags
  • Valuable raffle prizes
  • Lunch

Click here to register for this event.

Southern California/San Diego

Social Media Club
Date: October 2, 2018 | 5:30 pm PDT – 7:30 pm PDT
Location: VEDC Women’s Business Center
5121 Van Nuys Blvd. Ste. 300A Sherman Oaks, CA 91403 (map it)
Contact: info@vedc.org | (818) 907-9922
Organization: VEDC
Fee: Free

Facebook Live is one of the most powerful tools for a small business owner. Join this free workshop to learn how to use Facebook Live, feel comfortable on camera, and look amazing while building your brand and business.

Click here to register for this event.

How to Avoid a Loan Shark
Date: October 4, 2018 | 6:00 pm PDT – 8:00 pm PDT
Location: 1055 Wilshire Blvd., Suite 900B Los Angeles, CA 90017 (map it)
Contact: Phuong Le | ple@pacela.org | (213) 353-9400
Organization: PACE Finance Corporation
Fee: Free

Join us for this free workshop where PACE Business Development Center’s Phuong Le will discuss the basics of loan programs offered through PACE Finance Corporation and how to avoid loan sharks. The workshop will begin with a brief overview of SBA programs and services:

  • Counseling
  • Access to capital
  • Contracting
  • Disaster assistance

Click here to register for this event.

Annual Asian Small Business Expo
Date: October 6, 2018 | 9:00 am PDT – 1:00 pm PDT
Location: Quiet Cannon
901 Via San Clemente Montebello, CA 90640 (map it)
Contact: smallbiz@apisbp.org
Organization: Asian Pacific Islander Small Business Program
Fee: Free

Join APISBP for Growing Your Business Online: Standing Out in the Digital World—a free small business expo!

The Asian Small Business Expo is the only business-to-business Expo that engages the Asian business community and brings this growing economic force into the mainstream to connect and utilize your company and its services.

Don’t miss the opportunity to connect with small businesses, market your business pr organization, and tap into a network of entrepreneurs, service providers, financial organizations, franchises, and governmental and legislative representatives.

Everything is free:

  • Admission
  • Workshops
  • Parking
  • Networking
  • Business advice

Click here to register for this event.

Virtual

Credit Reports & Scores Explained
Date: October 4, 2018 | 8:30 am PDT – 9:00 am PDT
Location: Online—Webinar
Contact: Kimberly Donahue | Kimberly.Donahue@sba.gov
Organization: U.S. SBA West Virginia District Office
Fee: Free

Your credit score can impact everything from where you live to how much you pay for insurance. Join this free webinar to learn how credit reports and scores really work. This webinar covers the factors that influence credit scores, how to dispute errors, and more.

Click here to register for this event.

An Insider’s Guide to Business and Franchise Ownership
Date: October 4, 2018 | 10:00 am PDT – 11:00 am PDT
Location: Online—Webinar
Contact: Mary Takavorian | (909) 983-0751
Organization: Inland Empire SBDC
Fee: Free

Many aspiring business owners give up on their dream before getting started as they feel overwhelmed by the idea of building a business from the ground up.

Franchise ownership can help you realize those dreams by going into business for yourself but not by yourself. Attend this free webinar to get answers to these questions about franchising as the right opportunity to achieve your business dreams:

  • What is franchising?
  • What are some of the benefits and responsibilities of franchise ownership?
  • What kind of franchise opportunities are out there?
  • What factors should I consider when selecting a franchise?
  • How can I evaluate my potential to become a successful franchisee?
  • How do I investigate different franchise opportunities?
  • Can I afford it?

Click here to register for this event.

Website & Social Media Strategies Webinar
Date: October 4, 2018 | 11:00 am PDT – 12:00 pm PDT
Location: Online—Webinar
Contact: rnsbdc@business.rutgers.com | (973) 353-5950
Organization: Rutgers Newark (N.J.) SBDC
Fee: Free

Social media is essential to grow your business and brand. The same goes for your website. Position yourself online with a strong internet presence that reassures and strengthens the consumers trust in your business and motivates them to engage more with your business. This free webinar will help you get started with tools and actionable strategies to optimize your website and online infrastructures through social media. Start promoting and growing your business!

Click here to register for this event.

We’re looking for upcoming events to promote to small business owners like you. If you have an event you’d like to share with fellow business owners, contact us at sblending@opportunityfund.org.


For information about Opportunity Fund’s small business loans, please contact us at 866-299-8173 or loans@opportunityfund.org.  For questions about your existing loan or other customer service questions, please contact us at 866-299-8173 or sbhelp@opportunityfund.org.

Loans are subject to credit review. Additional documentation may be required for credit approval. We are an Equal Opportunity Lender. Loans will be made or arranged pursuant to California Department of Corporations Finance Lenders License #6050609.


Opportunity Fund is tackling economic inequality so that hard work and perseverance means a shot at getting ahead, not just struggling to get by. Our programs are supported by a community of donors and investors whose contributions help to fund small businesses, support college students, and build stronger families and vibrant neighborhoods. Since 1994, the team has deployed $600 million and helped 20,000 families earn, save and invest in their own futures. Opportunity Fund has earned a 4-star rating from Charity Navigator, America’s largest independent charity evaluator, for our commitment to accountability and transparency.

Visit us online at opportunityfundloan.org and follow us on Facebook and Twitter

Opportunity Fund. Working Capital for Working People. opportunityfund.org