Market Watch

Rich Gunn, Certified Exit Planning Advisor and Partner at accounting and advisory firm BPM , also offers Value-Focused Business Planning. getty Business owners are often unprepared for a business exit and experience a great deal of anxiety when it comes time to sell. Potential buyers will bring in a team of experts to assess risk, commonly contributing to that anxiety. The more risk that buyers discover, the less they are willing to pay for the business. Here are a few steps you can take today to reduce risk and bring even greater value to your business. Taking these actions can help you be better prepared and more confident when you ultimately sell your business. Other benefits may include the realization of greater operational efficiencies, profitability and employee satisfaction. Become A Risk Hunter There are risks inherent in each area of your business operations. Look at each functional area of your business, from warehouse operation to the accounting function, and question, “Where can things possibly go wrong?” Whether it’s preventing warehouse accidents, eliminating operational inefficiencies or preventing theft, eliminating risk can increase current profitability. It also makes your business more valuable from a buyer’s perspective. Ask Your Front-Line Employees You […]

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The Baltimore Business Journal will honor 14 businesses from throughout the metro area for our 2023 Family-Owned Business Awards. The awards recognize multi-generational businesses that have a record of longevity, achievement and giving back to the community. This year’s honorees span an array of industries, including agriculture, real estate, contracting, manufacturing, moving and storage, and hospitality. The honorees will be profiled in the Baltimore Business Journal’s print and online editions on March 31. You also can meet them in person during an event on March 30. Check back soon for more details. This year’s honorees, in alphabetical order, are: Albright’s Mechanical Services Inc. Allen & Son Moving & Storage Bosley Mouldings Broom’s Bloom Dairy David S. Brown Enterprises Ltd. Capitol Concierge Dunbar Cos. Fireline Harvey Construction Hilliard Developers Jimmy’s Seafood Kelly Benefits SAGE Dining Services Tulkoff Food Products To read about last year’s Family-Owned Business Award honorees, click here .

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Letter states employers are ill-equipped to navigate the mental health tsunami MONTVALE, N.J., Feb. 8, 2023 /PRNewswire/ — EmpiRx Health , the industry’s only value-based pharmacy benefits manager (PBM), published an urgent letter today raising the alarm on the mental health crisis in the United States. Penned by EmpiRx Health CEO Karthik Ganesh, the letter describes the monumental problem employers face in the wake of this crisis and how business leaders are ill-equipped to support their employees, while also preserving their bottom lines. The letter is a critical call to action for employers, who assume more than 80% of the cost of care on behalf of their employees , to "reclaim healthcare." Continue Reading "The cost of addressing the crisis pales in comparison to the cost of inaction, in both human and financial terms," states Ganesh. "As employers, we often blindly agree to the status quo. We accept that our benefits costs will increase year over year while the quality of care remains the same. We must evaluate our options and stop pretending to be an innocent bystander in this situation. Our employees depend on us." Organizations must act with urgency to reclaim healthcare benefits now. Tweet this Employees […]

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In a company’s early days, the owner and staff are usually focused on just keeping up with the work, and systems can be set up on the fly with little thought of the future. As the business continues to grow and evolve, it can be all too easy to build on existing inefficiencies or see teams retreat into silos, resulting in wasted budget dollars going to everything from overlapping software services to unused office space. As leaders in the financial space, the members of Forbes Finance Council have plenty of experience in helping their business clients find ways to trim budgets and better allocate resources. Below, they share 13 common ways businesses waste money and offer better, more efficient ways to spend that hard-earned cash. Members pictured from left to right (EJ Paul not pictured). Photos courtesy of the individual members. 1. Underutilizing Purchased Software Understanding what software your company should be using is different than actually using the software. Most businesses we talk to utilize less than 20% of what they are paying for with their accounting software. Working with a conversion specialist will allow you to modify your license to pay for what you are using or […]

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From the southwest corner of Nigeria, a pioneering social enterprise called Durian is lifting rural women out of poverty to become economically self-sufficient and confident of their value in building a more sustainable world. Training women to turn local waste into sustainable livelihoods is breaking through cultural norms that have historically relegated Nigerian women to powerless second-class citizens. In doing so, Durian is building a vibrant circular economy with measurable results for thousands of women, as well as their families and entire communities. Investing in women in rural communities has tremendous impact on individuals and families, as well as communities and society at-large in creating a more sustainable world. getty Economic independence sustains communities Located in Imafon, a rural community in Ondo state, Nigeria, Durian operates training sites and crop and livestock farms where women produce food, learn how to make crafts and furniture from bamboo and wood, turn fabric waste into fashions, create skin care items from cocoa pod husks, and process food from cassava flakes. Women and their children also participate in development sessions that span adult literacy, leadership, communication and computer skills, finance and banking, and human rights. Participants often assume project lead positions at Durian, […]

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While most businesses today prioritize their online presence, it’s also important not to neglect the offline side of things. From in-person events to print media to community engagement, there are plenty of ways to attract target audiences when they aren’t on the internet. Whether you’re not sure where to begin or need inspiration for your offline marketing strategy, read on. Below, 15 members of Forbes Coaches Council share tried-and-true ways to boost offline exposure for your business. Follow their recommendations to generate attention outside of the digital realm and draw in new customers. Members pictured from left to right. Photos courtesy of the individual members. 1. Have Agenda-Free Conversations I would encourage a client to have regular agenda-free conversations with a variety of people, be curious about them, avoid pushing, selling or promoting, be driven by a genuine interest in exploration and stay open to what emerges. We never know what connections may form, where ideas can be generated and what possibilities may open. So stay open, stay curious and invest time. – Alessandra Marazzi , Alessandra Marazzi GmbH 2. Go Where Your Audience Is Identify specific areas where you may connect and network with your ideal audience and […]

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IBM is announcing the acquisition of StepZen Inc, which developed a GraphQL server with a unique architecture that helps developers build GraphQL APIs quickly and with less code. Today’s news marks IBM’s first acquisition of 2023. Since Arvind Krishna became CEO in April 2020, IBM has acquired 30 companies to bolster its hybrid cloud and artificial intelligence (AI) capabilities. The rising adoption of hybrid cloud has resulted in data stored everywhere – in different types of data stores likes data warehouses, lakes, and lakehouses as well as across different clouds and on-premises environments. APIs serve as the essential connector between different data sources and applications, which means that businesses are relying on and creating more APIs than ever before to get the data they need to power their applications and experiences. GraphQL has rapidly become a go-to query language for companies to interact with their data and is emerging as a new standard for APIs, layering upon the investments in REST APIs and data systems. Take an e-commerce application for example. With a single call, GraphQL can merge data that is found in different subsystems, like customer information, order numbers, and delivery status, and return it in an expected […]

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getty An economic downturn can be a difficult time for any company. During a downturn, consumers tend to spend less money, resulting in downward pressure on prices, sales cycles getting longer and fiercer competition. All these developments can lead to a decrease in revenue and profitability as well as a higher risk of going out of business for many companies. However, with the right strategies in place, a company cannot only survive but flourish during such a period. Here are 10 tips that can help a company stay afloat and come out stronger on the other side. 1. Optimize your operations and P&L. One of the first things a company should do during an economic downturn is to take a hard look at its income statement and consider optimizing its operations. This can include reducing some expenses or freezing business lines that are marginal or are not likely to deliver during a tougher economy. By doing so, a company can maintain its margins and have enough cash to invest in other areas and improve its bottom line or at least have a more solid position. 2. Maintain a strong balance sheet. Following profit and loss statement (P&L) optimizations, management […]

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MOSCOW, Feb 8 (Reuters) – Russia is looking at introducing a one-off, voluntary windfall tax on big business, an official said on Wednesday, as the country’s monthly revenues from oil and gas drop to their lowest levels since 2020. Three sources familiar with the discussions later told Reuters that authorities were considering a one-off budget contribution from businesses of about 200-250 billion roubles ($2.8-$3.5 billion). The price of Russian oil has fallen around 20% since early December, when Western countries set a $60 price cap on Russian oil exports. Urals oil is currently trading at about $56 a barrel, much lower than the $70 needed to balance the budget. The finance ministry said last week that it was trebling its daily sales of foreign currency to cover the shortfall, but analysts have warned that tax rises are inevitable if Russia is going to continue ramping up defence spending. Latest Updates "A voluntary contribution from business… is being discussed, a one-off contribution," First Deputy Prime Minister Andrei Belousov said, in comments published by Russian news agencies. "The fact is that last year’s financial results were very good and many companies, especially in the first half of the year… for the […]

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The Andy Reid Bowl. The Kelce Family Reunion. The first clash of two Black starting quarterbacks in a Super Bowl. Cheesesteak versus barbecue ribs. Rocky or Huckleberry Finn. There’s no shortage of compelling storylines and civic pride comparisons when the Kansas City Chiefs meet the Philadelphia Eagles on Sunday in Super Bowl LVII at State Farm Stadium, so to further enrich your viewing experience, here’s a look at how the two NFL franchises compare on the field and off it as businesses in terms of dollars and their social media reach. The game kicks off at 6:30 p.m. on Fox, and The Athletic will have live coverage (and I’ll be tweeting sports business nuggets during the broadcast). Much like last year’s Cincinnati Bengals – Los Angeles Rams championship game, this year’s Super Bowl is again a contrast in NFL markets. Philly is a major East Coast city while Kansas City, Mo., is a smaller Midwest urban hub in the center of the country. And both markets straddle rivers and have fantastic food and pretty dang good football teams with rabid fans. Both franchises have enjoyed their share of historic and recent pro football success — the Eagles won their […]

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