Moneylines: News Briefs for Businesses

Help available for small-business owners looking to implement and maintain retirement plans

Although many companies have cut just about everything they can to control expenses, retirement plans are still a valuable way to attract qualified job candidates and retain valued employees. If you own a very small company that has yet to offer a retirement plan, be advised that the Department of Labor, in cooperation with the IRS, now offers a set of automatic enrollment 401(k) plans that make implementation relatively simple. And if you’re having trouble keeping up with your plan maintenance, you may be able to outsource this task at an affordable cost.

Want a federal contract? Consider subcontracting!

When the topic of federal contracting comes up, one may assume a construction project is involved. But Uncle Sam spends billions a year on goods and services as well. Survey data released in American Express OPEN’s Victory in Procurement report reveals that small companies that have acted as subcontractors have had more success in winning federal jobs than businesses that have tried to go it on their own. So if a government job is a potential moneymaker for you, don’t be afraid of the “subcontractor” label.

Smart phones may soon surpass laptops for business users

Many of your company’s employees may own a smart phone, and many of them might already be using those devices for business purposes — or may want to. In fact, an October 2010 report from technology experts Forrester Research indicates that, by 2015, roughly 50% of the devices used on corporate networks will be mobile ones. You might want to start anticipating the cost advantages and security risks of this trend now.

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