Success Story:
Longitude Health Inc.
Columbia-based wellness company promotes team approach to encourage healthy lifestyles
Helping employers to more effectively care about their employees' welfare, and in turn improve each company's bottom line.
Helping physicians to more meaningfully help their patients achieve healthy outcomes.
Dr. Jan Swaney cofounded Longitude Health Inc. three years ago with her partner Tracy Korman. The company provides guided health and wellness services reaching people through employers and physicians.And, most importantly, helping people take ownership of their health, thereby promoting their prospects for longer, healthier, productive lives.
These are the goals of Longitude Health Inc., a guided health and wellness service, based in Columbia, Mo. and Somerset, N.J. Dr. Jan Swaney and her partner Tracy Korman cofounded their health-promotion company nearly three years ago.
After meeting at the opening session of the 2006 annual conference of the Disease Management Association of America, Swaney and Korman each discovered they both had more than a passing interest in methods of promoting individual wellness.
"We learned our attitudes and goals about promoting patient wellness and our professional talents and experiences were compatible and complementary," explains Swaney.
Following considerable discussion and planning Swaney and Korman joined forces to establish their unique health-promotion venture.
Read this complete success story with additional photos.
How to avoid burnout and improve time management
An owner's responsibilities for running a small business can seem overwhelming.
As a result, the delicate balancing act of allocating time to work on the business as well as in the business can result in too little time for family, personal interests and self care.
There are some strategies a business owner can use to avoid burnout and improve time management, according to Kathy Macomber, MU Extension business development specialist with the SBTDC in Barton County.
"There are tools that can help with time management, which is really self-management. Time is a finite resource, but your efficiency in using that time can be improved with the use of some or all of the following techniques," says Macomber.
Prioritize
The first step toward help with self-management is to keep a record, for one week, of all activities in 15-minute increments.
"I know, this seems like adding another task that isn't driving results, but you need to gather data before you can make meaningful decisions," says Macomber.
Thoroughly examine the list, and then prioritize the activities according to your goals. Macomber recommends using a 1-to-5 scale to weight how important an activity is to profitability, repeat business, customer satisfaction or other business goals.
Read all of the time management tips.
Business Going Green
The neighborhood grocery: Looking to the past for a greener future
Fifty years ago, every neighborhood was dotted with small "mom and pop" grocery stores that provided friendly, personalized service. Expanding expressways, plentiful gasoline, the ever-burgeoning presence of automobiles, suburban flight and other factors turned consumers toward large, centralized stores. So neighborhood grocery stores have gone the way of local tailors. More than 100,000 small retailers have closed in the past 20 years and been replaced by big box stores.
But big stores (some with more than five acres of shelf space) don't fit into everyone's picture of a greener future. Concerned about food safety, factory farms, and their own environmental footprint, many consumers are returning to the past.
A D&D Main Street Market customer chooses from a large sample of colorful gourds. These displays have replaced the once empty gas station that occupied Jefferson City's Main Street for years.The modern neighborhood grocery offers locally grown produce, milk, eggs, meat and other products that support area farmers and reduce the transportation required to get food from field to fridge. It is these unique qualities that have helped foster a re-emergence of small stores in an era dominated by big-store competition.
"We're here for the people who don't want to shop at big, anonymous stores," says Damon Northweather, who owns D&D Main Street Market in Jefferson City with his wife Dana. "We started providing produce because people would come in for it. They stop by on a walk through the neighborhood or on the drive home from work."
"We have knowledge of our product that you're not going to find at a bigger store," says Damon. "Our prices compare too. I've shopped at bigger stores and there's a misconception that their prices are so much lower. From what I've seen that just isn't true."
The Northweathers owned a garden shop on the city's outskirts for four years, but their move to the Jefferson City neighborhood of West Main Street last April changed the whole dynamic of the store — and the neighborhood.
"The neighbors are happy that we took over a rundown gas station," say the Northweathers. The store is now a colorful corner display of bedding plants and pots in spring and summer, and local apples, gourds and pumpkins in the fall. The Main Street Market is quickly becoming an integral part of the community, hosting evening block parties, watermelon seed spitting contests, and jack o'lantern carving. "We feature local musicians every week, weather permitting, and we gave out candy for Halloween," says Dana.
Read this complete story with additional photos.
SBA News
SBA seeks comments on proposed revision of size standards to expand opportunities for small businesses
WASHINGTON, D.C. — The U.S. Small Business Administration is proposing increases in the size definitions for three broad commercial sectors. The proposed increases cover size standards for 71 different types of businesses, two-thirds of them in retail trade sectors. The rest are in accommodations and food services, and other services.
The changes, if adopted, will expand eligibility to small businesses and help them gain access to SBA's financial assistance, contracting and other programs.
"SBA has undertaken a comprehensive review of our size standards to ensure they are current and reflect changes in the economy and the marketplace," said Karen Mills, SBA administrator. "SBA's lending and government contracting programs provide effective opportunities for small businesses to help them expand and create jobs, especially during these tough economic times. This review and proposed changes will help make these critical programs available to more small businesses and ensure SBA is in a position to be a real partner in helping our nation's entrepreneurs and small business owners succeed."
The SBA recognizes that in some industries, existing size standards have been affected by changes in industry structure, market conditions and business models. Therefore, the SBA is conducting a comprehensive review of all its small business size standards, and these three proposed rules are the first in the series. SBA is examining every industry to ensure that existing size standards are based on current economic data and SBA will propose to revise those where it believes it is necessary. The newly proposed rules give the public an opportunity to review and comment on SBA's proposed standards as well as on the data and methodology that SBA uses to evaluate and revise size standards.
Before this comprehensive review, the last overall review of size standards occurred more than 25 years ago. Since then, most reviews of size standards have been limited to in-depth analyses of specific industries requested by the public and federal agencies. The SBA also makes periodic inflation adjustments to its dollar-denominated size standards. The latest inflation adjustment to size standards was published in the Federal Register last July.
Comments can be submitted on these proposed rule changes on or before Dec. 21, 2009, to www.regulations.gov, where they will be posted, or mailed to Khem R. Sharma, Chief, Size Standards Division, 409 3rd St. SW, Mail Code 6530, Washington, DC 20416. For more information about SBA's revisions to its small business size standards, visit www.sba.gov/size and click on "What's New."
HHS, SBA release new report indicating small business employees risk losing health insurance coverage
WASHINGTON, D.C. — Secretary of Health and Human Services Kathleen Sebelius and Small Business Administration Administrator Karen Mills last month released a new report, Insurance at Risk: Small Business Employees Risk Losing Coverage.
The report examines the health care status quo that has left employees at risk of losing their insurance and underscores the financial difficulties small businesses face when providing health insurance to their employees. The complete report is available at www.HealthReform.gov.
"More Americans who work for a small business have lost their health insurance coverage, and those who still have coverage have seen their costs go up," said Sebelius. "Health insurance reform will drive costs down and make it easier for small business owners to give their employees the quality coverage they need."
"The cost of health insurance is the number one concern of small business owners. On average, small businesses pay 18 percent more than big businesses for the same health insurance policy. This has left small business owners in an untenable situation, having to choose between their employees, who are often like family to them, and the bottom line," Mills said. "Health care reform will provide small business owners with greater access to the affordable, quality coverage they want and need for themselves and their employees."
The report notes:
- Employees of small businesses are 50 percent more likely to lose coverage as workers at large businesses. Half of workers in small firms that do not offer health benefits remain uninsured.
- Premiums for employer-based health insurance have more than doubled since 2000, rising three times faster than wages. As a result, fewer small businesses provide coverage for their employees. In 2000, 57 percent of firms employing less than 10 workers provided coverage. In 2009, only 46 percent of similar-sized firms provided coverage.
- In one national survey, nearly three-quarters of small businesses that did not offer benefits cited high premiums as the reason, and on average small businesses pay up to 18 percent more than large firms for the same health insurance policy. This is due in part to high broker fees (which can be up to 10 percent of premiums) and health plan administrative costs that are three to four times those in the large group market.
According to HHS officials, health insurance reform will stabilize health insurance coverage for Americans who work for small businesses. Health insurance reform will provide small businesses with tax credits to help them provide health insurance for their employees. This will make health care more affordable for small businesses and their workers, solidifying and strengthening employer-based coverage for years to come. Health insurance reform also will create a health insurance exchange so Americans without access to affordable insurance on the job can compare prices and health plans and decide which quality affordable option is right for them. The exchange will also significantly reduce administrative costs for small businesses by enabling them to easily and simply compare the prices, benefits, and performance of health plans.
President Obama proposes increases in SBA loan limits to small businesses
WASHINGTON, D.C. — President Obama has proposed to Congress increases in the maximum loan size for U.S. Small Business Administration-backed loans to small businesses.
Specifically, the President called for:
- Increasing the size of SBA's 7(a) loan from $2 million to $5 million.
- Increasing the size of SBA's 504 loan from $2 million to $5 million for standard borrowers (supporting a total project of $12.5 million) and from $4 million to $5.5 million for manufacturers (supporting a total project of $13.75 million).
- Increasing the size of SBA's Microloan from $35,000 to $50,000.
In a statement following the President's proposal, SBA Administrator Karen Mills said:
"America's 29 million small businesses have been hard hit in this recession. Nine months ago, President Obama sent small businesses a life line: the American Recovery and Reinvestment Act. Since then, the SBA has supported more than 33,000 loans for a total of almost $13 billion in small business lending. This has helped save or create tens of thousands of jobs.
"But there is much more work to be done, which is why President Obama (has) pledged his support for legislation that would increase the maximum size of some SBA loans. Increasing maximum loan sizes will allow the SBA to ensure that more small business owners and entrepreneurs can get access to the credit they need to expand their operations and create jobs.
"The President also announced additional support from the treasury department for smaller community lenders that are committed to increasing their lending to small businesses. (Treasury) secretary Geithner and I will host a conference on small business lending with members of Congress, regulators, lenders and the small business community. The conference will discuss additional efforts that can be taken to provide small businesses with access to credit. These steps, coupled with SBA's ongoing efforts, will help small businesses grow and create jobs throughout America."
For more information:
- a copy of the President's remarks and a fact sheet (PDF) on the announcement
- fact sheet (PDF) on the proposal
IRS Roundup:
Inflation having little effect on tax rates and benefits in 2010
WASHINGTON, D.C. — Federal tax rate brackets and various tax benefits will remain unchanged or change only slightly in 2010 due to inflation, the Internal Revenue Service recently announced.
By law, the dollar amounts for a variety of tax provisions must be revised each year to keep pace with inflation. As a result, more than three dozen tax benefits are subject to inflation adjustments each year, but because recent inflation factors have been minimal, many of these benefits will remain unchanged or change only slightly for 2010.
Key provisions affecting 2010 returns, filed by most taxpayers in early 2011, include the following:
- The value of each personal and dependency exemption available to most taxpayers is $3,650, unchanged from 2009.
- The new standard deduction for heads of household is $8,400, up from $8,350 in 2009. For other taxpayers, the standard deduction remains unchanged at $11,400 for married couples filing a joint return and $5,700 for singles and married individuals filing separately. Nearly two out of three taxpayers take the standard deduction rather than itemizing deductions, such as mortgage interest, charitable contributions, and state and local taxes.
- Various tax bracket thresholds will see minor adjustments. For example, for a married couple filing a joint return the taxable income threshold separating the 15 percent bracket from the 25 percent bracket is $68,000, up from $67,900 in 2009.
- The annual gift tax exclusion remains unchanged at $13,000.
Details on these and other inflation adjusted items for 2010 can be found in Revenue Procedure 2009-50 (PDF), available now on IRS.gov.
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