Update Your PEST examination

As business owners we sometimes forget about our PEST in the midst of year end processes, taxes, and New Year preparation. This year there are several factors changing that could impact your business. Below we will examine a few.

Health Care Reform: The new Health Care Reform Act is complete of tax changes. In some situations there is increase in taxes, and in other decreases. For example if you own a Tanning Business you are already aware that a 10% excise tax was levied on June 30th, 2010. Another example is in real estate. A 3.8% tax will be levied for sale of high end homes. On the other side of the extent the HCR provides tax incentives for small companies to provide coverage in addition as breaks in the Medicare Part D prescription drug coverage.

Rising Fuel Cost: 2011 does not look good for fuel cost. As other parts of the world increase the need and the production remains level the cost will rise. This will have an impact on many small businesses in 2011.

Social Networking: Social Networking is on the rise and with it advertising and connecting with your clients is changing. Failure to take advantage of Social Networking could average missing getting your products to an complete generation.

Changing Technology: Technology is regularly changing, nothing new here. However with the changes can be great cost saving. New Technology is no longer cost extremely. Outsourcing and Cloud computing could save you time and money.

As the New Year begins start it off by updating you PEST and giving yourself the best chance to make 2011 a profitable year.

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