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Washington Watch
November 5, 2003
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NASE Adds Micro-business
Perspective to Manufacturing Roundtable
At a small-business manufacturing roundtable last
week, the NASE discussed how many micro-businesses –
whether directly involved in manufacturing or not –
are dependent on the strength of America’s
manufacturers. The House of Representatives' Small
Business Committee hosted the roundtable, titled, “End
of Session Review on the State of U.S. Manufacturing."
“The manufacturing climate has a ripple effect on
micro-businesses,” said Kristie Darien, NASE director
of government affairs. “Loggers, distributors, truck
drivers and retailers are all influenced by what
happens in the manufacturing sector.”
Darien told the committee that skyrocketing health
care costs are one example of how the manufacturing
climate impacts micro-businesses.
“Not only do the self-employed and micro-businesses
have to worry about their own increasing health
premiums, but when a manufacturer has to raise prices
to cover his own health care costs, the micro-business
loses profit,” Darien said.
The rising cost of health coverage is a priority issue
for the NASE. According to a survey of micro-business
owners, seventy percent did not have health insurance
themselves or offer it to their employees, citing cost
as the number one reason. The NASE supports
elimination of the self-employment tax on health
insurance premiums, association health plans and
health care tax credits as viable options to reduce
the cost burden on micro-businesses.
For more information on these policy initiatives, or
to read the NASE “Affordability in Health Care” study,
visit
http://advocacy.nase.org.
NWBC Identifies State-Level Women's
Groups
The
National Women’s Business Council (NWBC) recently
released a comprehensive resource guide on state-level
organizations who foster and support women’s
entrepreneurship. A study of public and privately-funded
groups found that 43 states have some sort of commission,
council, coalition or economic network focused on women. Of
the 56 organizations identified, however, nearly two-thirds
(35 organizations) are women's commissions with no stated
focus on women's entrepreneurship. The remaining 21
organizations, covering 16 states, have either a total or
partial focus on women business owners.
“It is our hope that increased awareness about these
state-level efforts will spur the further development of
these organizations and increase their focus on women's
enterprise development and public policy advocacy,” Marilyn
Carlson Nelson, chair of the NWBC, said of the study, “State
Economic Networks for Women Business Owners.”
For a complete list of the organizations, their location and
focus, visit
www.nwbc.gov.
Take the SBTV Business Survey and
Get a Free Directory Listing
Small Business Television Network (SBTV), the online
television station devoted to small- business stories, is
surveying small-business owners about how they run their
companies and what their needs are.
In appreciation for owners who fill out the quick,
confidential survey, SBTV offers a free listing in the
upcoming SBTV Resource Center Business Directory (a $99
value). The listing is carried by the Resource Center for a
year and will give prospective customers key contact
information about you and your company.
A built-in search engine directs people needing your
products/services to a profile of your company. The profile
includes a brief description of your company's
products/services, a link to your Web site or an e-mail
address where customers can contact you.
The survey takes only a few minutes to fill out and covers
questions such as accounting, billing, basic operations and
types of consulting services that you need and use. The
results of the survey will be used to help customize SBTV's
content to better serve entrepreneurs and small-business
owners.
Click here to take the SBTV business survey.
Outsourcing
Payroll Does Not Outsource Your Responsibilities
After recent prosecutions of fraudulent companies and
incorrect filings by individuals, the IRS issued the
following reminders to small businesses outsourcing payroll
services. While using a third party payroll service provider
can greatly streamline business operations, employers should
remember their responsibilities as well:
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The employer is ultimately responsible for the deposit and
payment of federal tax liabilities. If the third-party fails
to make the federal tax payments, the IRS may assess
penalties and interest on the employer’s account.
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If there are any issues with an account, the IRS will
contact the employer. It is strongly suggested that the
address of record remain the employer’s address and not that
of the payroll service provider.
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For the employer’s protection, the payroll service
provider should be asked if they have a fiduciary bond in
place. This could protect the employer in the event of
default.
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Employers should ask the service provider to enroll in and
use EFTPS (Electronic Federal Tax Payment System), so they
can confirm payments made on their behalf. EFTPS maintains a
business’ payment history for 16 months and can be viewed
online after enrollment. The IRS recommends employers verify
EFTPS payments as part of their bank account reconciliation
process.
For more information, visit
http://www.irs.gov/smallbiz.
Do any of these issues affect you? Visit the NASE Legislative
Action Center and “Tell
Your Micro-Business Story.” This will help the NASE
understand - on a personal level - how key legislative issues
are affecting your business and your bottom line.
For more information about any of the articles in
Washington Watch, contact Maureen Petron, NASE public
affairs manager, at (202) 466-2100 or
mpetron@nase.org.
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