20 Business Ideas for Teens in 2023

With the world rapidly changing and new business opportunities emerging every day, it’s possible to become a successful entrepreneur in as little as two years.

Teens have unique advantages when it comes to starting their own businesses, including access to resources, understanding of technology, and the potential for risk-taking.

In this article, we’ll explore 20 of the best business ideas that can lead teens on the path to becoming rich. Let’s get started!

Can a teenager start their own business?

Yes, it is possible for a teenager to start their own business. With the entrepreneurial spirit of today’s youth, many teenagers are finding success in launching their own businesses or side hustles.

From launching online stores and blogs to providing marketing services to local businesses, there is no shortage of opportunities for teens looking to make money with their own businesses.

What makes a good business for teens?

Starting a business as a teen can be an excellent way to gain experience and develop workplace skills.

When searching for a business to start, it’s important to consider the needs of teenage entrepreneurs.

Here are five key qualities that can help make businesses successful for teenagers:

• Flexibility: Having flexible hours is essential when running your own business as a teen. Being able to work around school, sports, and other commitments is necessary for maintaining a balance between business and personal life.
• Low Costs: Finding businesses with a low startup or recurring costs can be beneficial for teens still in school or just starting out. Low costs also ensure that the rewards outweigh the risks of launching a new venture.
• Scalability: Scalable business models are great options for teens who are looking to grow their income over time. This might include selling digital products online or providing services such as tutoring or consulting on an hourly basis.
• Technology: Leveraging technology to increase efficiency and productivity can be a great way for teens to compete in the market. Knowing how to use existing platforms or create new ones can help teens stay competitive and make their businesses stand out.
• Networking: Building connections is key for any business, but even more so for teens. Networking with other entrepreneurs, mentors, and potential customers can help teens find new opportunities and build their businesses.

Best Small Business Ideas for Teens

Starting a business as a teenager can be an excellent way to gain financial independence, build valuable skills, and learn the ins and outs of entrepreneurship.

Here are some cool business ideas for young entrepreneurs considering starting their own venture:

1. Photography Business

Starting a photography business for teens is a great business idea. It allows creative young minds to express their art and develop important skills through the lens of a camera while earning extra money doing something they love.

2. Social Media Influencer

Utilizing popular social media platforms can help teens build an audience, share their unique perspective on the world, and create content that is engaging and inspiring.

With the right strategy, teens can make a name for themselves in this fast-growing industry.

3. Graphic Design Business

Being a graphic designer is a small business idea with big potential. With the right tools and resources, teens can create amazing visuals that stand out from the crowd.

It offers an opportunity to explore creativity, develop skills in design, and earn extra cash at the same time.

4. Lawn Care Business

As a lawn care business, teens can offer services such as mowing, trimming, and fertilizing lawns in their neighborhoods.

It’s a great business idea for teens who are looking to earn money while honing their manual labor skills.

5. Delivery Service Business

From pizza to groceries, teens can provide the convenience people need while earning money in the process.

It’s an excellent way for them to develop customer service skills, stay physically active, and make money all at once.

6. Child Care Services

Teens can help provide parents with quality, reliable child care in their local area. It offers a fantastic opportunity for teens to develop their interpersonal skills, nurture children, and earn money all at once.

7. Selling on Online Marketplaces

Starting an online business selling products on online marketplaces is a great way for teens to make money.

They can simply buy items at local stores for cheap and sell them on a site like eBay at a marked-up price. With this simple business, teens can begin to sell online right away.

8. Personal Shopper

If teens are good at shopping, they can use their expertise to help others find what they’re looking for.

With this business, teens can use their skills to find the best deals for their clients and make a profit in the process.

9. Dog Walking Business

Next on our list of teen business ideas is offering dog walking services to pet owners. This offers a great way for teens to stay active, get to know the local area, and earn money at the same time.

10. Car Washing Service

Teens can take advantage of the convenience of being able to wash cars at any location and build their skills in customer service, communication, and organizational management. It’s easy to get started, with no special equipment required.

11. Web Designer

With a web design business, teens can create beautiful websites that showcase their unique style and stand out from the crowd.

Plus, they’ll get to learn valuable coding and programming skills, which can help them make money as adults.

12. Tech Support Business

Starting a tech support business for teens is a great way to combine technical know-how with customer service experience.

As tech support providers, teens will be tasked with helping clients troubleshoot their computers, smartphones, and other technical devices.

13. Create an App or Online Game

Teens can start their own businesses by creating an online game or app. With a little technical knowledge and creativity, teens can create something that appeals to others, as well as provides a fun way to make money.

14. Music Lessons

Teens can start their own businesses by giving music lessons providing them with an opportunity to share their passion for music while cashing in.

Teaching music lessons is a great way for teens to develop valuable skills such as communication, creative problem-solving, and organization – all of which can be used later in life.

15. Playing Video Games

Teens can turn their passion for playing their favorite online game into a profitable business.

They can stream their gameplay on Twitch, offer advice and tips to others, or even make money by creating content related to the game.

16. Social Media Marketing Business

Teens can put their social media know-how to work and start a social media marketing business. With this type of business, they’ll be able to help clients reach their target audience and create successful campaigns.

They’ll also get to learn valuable online marketing skills that can be used throughout their career.

17. Craft Fair Vendor

Teens who have an eye for style and design can sell their work at local craft fairs in their town or city. This is a great way for them to showcase their creativity and make money in the process.

18. Soap-Making Business

Making soap can be an enjoyable and profitable endeavor for teens. With a few ingredients and some creativity, they can create their own products to sell on Etsy or at local craft markets.

19. Pet Cleanup Service

People hate to clean up after their pets, so teens can take advantage of this by offering pet cleanup services. All they need is a few supplies and some determination, and they’ll be ready to start earning money.

20. Cake Maker

If you know a teenager who loves to bake, then they can start their own cake-making business. This is a great way for them to unleash their creativity and make some extra dough in the process. With some practice, they can create truly amazing cakes that people will be happy to pay for.

Why should teenagers start their own small businesses?

With the right support, teen entrepreneurs can find true success and reap numerous benefits from launching their own businesses.

Here are five reasons why teens should start their own small businesses:

• Financial Independence: Many teenagers start businesses to gain financial independence and earn extra income outside of school or family support. Starting a business is one way to do this, often at lower costs than typical jobs.
• Learning Opportunities: Running a business can help teenagers learn life-long skills such as problem-solving, communication, marketing, and time management. These skills will be valuable in many other areas of life beyond just business.
• Self-Fulfillment: Teens who have an entrepreneurial spirit may find self-fulfillment in running their own businesses. This sense of ownership and accomplishment can have lasting effects far beyond the early years of entrepreneurship.
• Strategic Thinking: Launching a successful business takes strategic planning and creative solutions. As a teen entrepreneur, you will quickly develop these important thinking skills which could provide huge benefits down the line.
• Networking Possibilities: Beginning a small business as a teen opens up countless possibilities for networking with industry professionals who may offer guidance and advice throughout your journey as an entrepreneur.

Top Tips for Teen Entrepreneurs with a Business Idea

Launching a business as a teen can be incredibly rewarding and exciting, but it also requires careful research, preparation, and planning.

To help teenagers with the entrepreneurial spirit get started on their journey to success, here are some key tips to consider:

• Research the Market: Every business should start with thorough market research. Whether through online searching or interviewing industry professionals, understanding the competitive landscape will help guide you toward a viable concept.
• Write an Action Plan: Having a clear plan in place is essential for any budding entrepreneur looking to launch their own business. This could include creating a detailed budget, setting milestones and deadlines, and identifying potential partners or investors.
• Hone Your Skills: Running your own venture means wearing many hats. It is important to equip yourself with the right skill set. This could include taking online classes or attending workshops such as those offered by local organizations for teens or small businesses.
• Seek Support: Knowing where to turn for advice and guidance is key when launching your own business as a teen. Your friends and family may be able to provide support, but seeking out mentors within the industry may provide invaluable insight and assistance during this process.
• Reach Out: Don’t hesitate to reach out to your network when looking for advice or resources. Developing relationships with other entrepreneurs who have been where you currently are can go a long way in helping you move forward with your new venture.

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Image: Envato Elements

This article, "20 Business Ideas for Teens in 2023" was first published on Small Business Trends

How to Manage Client Expectations as a New Freelancer

When you’re a freelancer, it’s crucial to set client expectations upfront to ensure a mutually beneficial relationship. Not setting realistic boundaries and outcomes at the start can lead to critical misunderstandings. Over time, this can lead to burnout or even negatively impact your professional reputation.

To help you avoid this outcome, 10 members of Young Entrepreneur Council (YEC) answered the following question:

“When you’re just starting out in the world of freelancing, what’s one rule you need to know to better manage client expectations early on, and why?”

Here’s what YEC community members had to say.

1. Say ‘No’ When Necessary

“Don’t take on more than you can realistically deliver and don’t be afraid to say ‘no.’ Very often, beginner freelancers are afraid to decline any client requests. They think they will lose the whole gig if they won’t fulfill all the extra stuff the client is asking for. Don’t be a yes-man if something is outside of your skill set. Honesty doesn’t make you look unprofessional.” ~ Solomon Thimothy, OneIMS

2. Value Your Time

“Never give away time for free — or if you do, don’t let them know. Once you give, they will always expect that and ask for it. Then, when you have clients who don’t ask for discounts, you end up getting frustrated with the ones who do. Save the relationships from the beginning by valuing your time with them and expecting them to do the same.” ~ Marjorie Adams, Fourlane

3. Document Expectations

“On your kickoff call, create a document in which you review three things: what success looks like to the client, what failure looks like to the client and what specific activities fall inside the scope of the current engagement. This creates clarity and transparency while giving you mutually agreed upon benchmarks in writing that you can refer back to throughout the engagement.” ~ Rob Hoffman, Contact Studios

4. Be Honest

“You might be tempted to over-exaggerate your skills in order to attract potential clients, but this never turns out well. If you’re not prepared for the task, as you initially led the client to assume, you’ll only get negative reviews and ratings — which will ultimately impact your ability to work with other clients.” ~ Simon Bacher, Ling App

5. Create a Standardized Process

“Create a process. Set boundaries and expectations, and stick to them. It is exciting to be freelance because of the freedom, but it can turn into a headache if you are managing clients differently and do not have a daily and monthly process of work. Find a process that works for you, including setting clear boundaries and expectations for clients. Then, you can experience even more freedom in freelancing.” ~ Matthew Capala, Alphametic

6. Establish Payout Milestones

“When you’re starting off as a freelancer, the best way to better manage client expectations is by clearly setting the milestones for the project and the respective payouts. Payouts are the major reason for conflict between both parties. It’s best to set certain rules as per mutual consent upfront to avoid potential disagreements down the road.” ~ Chris Klosowski, Easy Digital Downloads

7. Maintain Work-Life Balance

“There’s a difference between being hard at work and working hard all the time. New freelancers often take work-life balance for granted as they keep accepting projects with unrealistic deadlines. This eventually leads them to either miss submissions or acknowledge burnout — neither of which is a positive outcome.” ~ Stephanie Wells, Formidable Forms

8. Communicate Regularly

“New freelancers should never forget that they must communicate with their clients throughout the process. This tip is crucial for first-time, budding partnerships. Clients want to know that you’re delivering on your promises. Communication and progress reports can streamline the process and make building trust with new clients easier.” ~ John Turner, SeedProd LLC

9. Provide a Project Outline

“Lay it all out for clients right off the bat through an introductory presentation or a project outline. If you aren’t clear on what you will provide, by when and to what degree, clients will create unrealistic expectations of you. When you’re deliberate and forthcoming with expectations, clients will have no choice but to understand exactly what you’re doing for them.” ~ Jared Weitz, United Capital Source Inc.

10. Remember That Every Client Is Different

“Every client is different, so you must set clear expectations from the start. Don’t assume that new clients will be the same as the last. Before you start the project, you must be on the same page in terms of scope of work, timeline, process, communication, reporting and costs. Put everything on paper and make sure both parties have copies for clarity. However, be open to possible changes.” ~ Bryce Welker, Crush The GRE Test

Image: Envato Elements

This article, "How to Manage Client Expectations as a New Freelancer" was first published on Small Business Trends

Senate Bill Would Give Payroll Tax Relief to Some Small Businesses

The Restaurant Revitalization Tax Credit Act has been reintroduced to provide payroll tax relief to eligible small businesses.

Senate Bill Would Give Payroll Tax Relief to Some Small Businesses

The new legislation creates a special tax credit that is available to businesses that had previously applied for the Small Business Administration’s Restaurant Revitalization Fund (RRF) program, but did not receive a grant because the program ran out of funding. It has been estimated that nearly 2 out of every 3 eligible RRF applicants were left unassisted, which works out at around 175,000 businesses.

Businesses Eligible for New Tax Credit

The credit available through the Restaurant Revitalization Tax Credit is open only to those businesses that applied for and were eligible to receive RRF grants. Eligible employers must have offset payroll taxes of up to $25,000 per quarter in calendar year 2023.

In addition, for businesses with 10 or fewer employees, the credit is refundable up to a total of $25,000 over the course of the year, with the cap on refundability to be gradually phased-out for businesses with under 20 employees.

Restaurant Businesses ‘Hurting for Too Long’

Senator Ben Cardin led the reintroduction of the bill and said: “We have not forgotten about these restaurants. They have been hurting for too long. The Restaurant Revitalization Fund was a timely program that simply did not have enough funds to cover the intense demand.

“I’ve heard from many restaurant owners who, having missed out on these funds, used their personal retirement savings or put their homes up as collateral to keep their businesses afloat. This tax credit will help ease their burden. It will support the restaurants we love while helping to boost our local economies.”

Additional Eligibility Criteria

Eligible businesses must have experienced average operating losses of at least 30% both in 2020 and 2021 compared to 2019, or losses of at least 50% in either calendar years 2020 or 2021 compared to 2019.

To be eligible, businesses must also have been in operation before March 14 in 2020, and have paid payroll tax in at least two quarters in 2021.

Image: Depositphotos

This article, "Senate Bill Would Give Payroll Tax Relief to Some Small Businesses" was first published on Small Business Trends

The Basics of Cloud Security For SMBs: Zero Trust, CNAAP, and More

As a small business that relies on cloud computing technology, what have you done to prepare for a possible data breach or hacking attempt?

Cloud technology has been a lifesaver for cost-effective scaling, creating more storage on the go, and enabling remote work.

For companies to get the most out of it, it has to be well protected from possible intrusions.

What are some of the most common weaknesses that put the cloud systems and the data within such infrastructures at risk and how do you protect assets that reside within infrastructure?

Here, we go over top cloud security practices as well as how a Cloud-Native Application Protection Platform (CNAAP) can help you protect your business.

Flaws That Put the Cloud at Hacking Risk

The most common cloud vulnerabilities that a hacker can exploit within the cloud environment are:

• Misconfigurations
• Insecure Application Programming Interface (API)
• Stolen or leaked data

Mistakes in the configuration of the cloud components (e.g. containers) are common nowadays. Businesses combine cloud technology provided by multiple vendors and migrate their systems — making them complex.

Misconfigurations can be a result of DevOp teams who don’t know how to properly configure the cloud or need more training on the proper practices.

If these errors aren’t fixed, they can present gaps that hackers can exploit to get illicit access to the system, run ransomware, or enable insider threats.

A vulnerable API is one that is publicly available without encryption, lacking authentication, and whose activity is not regularly monitored.

If such a component is discovered by a hacker, it could grant access even if one doesn’t know the exact password and username of any employee.

In the worst-case scenario, insecure API can lead to stolen and leaked sensitive information.

Data protection is at the core of cloud security and it should be a priority.

For instance, cloud storage could be unintentionally and automatically set to public, where anyone can access it.

Code, data, or S3 buckets that can be accessed by the public can also form a major gap in security. They might not have the proper settings or are open for anyone to alter them and access more information.

With that, we’ve just scratched the surface. There is more that can endanger a system that is reliant on the cloud.

According to OWASP’s Top 10 list, other common weaknesses small businesses that use the cloud should know about are injection flaws, improper authentication, gaps in the software supply chain, unencrypted secrets, and integrating the parts with known flaws.

Best Cloud Protection Practices

As a small business that has integrated a cloud into your architecture and wants to protect the premises, start with these cybersecurity practices:

• Limiting user privileges
• Introducing zero trust principles
• Investing in phishing training for team members

By knowing who has access to the cloud at all times, it’s easier to determine whether the compromised access has led to unwanted hacking activity.

For instance, it could be flagged that an employee is using certain parts of the system outside of working hours or accessing the parts of the system they don’t need for work.

To take this a couple of steps further, security can also be set in a way to limit access to the system for employees based on the role they have within the business. In that way, if the hacker obtains their credentials they have limited access to the network as well.

Even more, applying zero trust and not automatically assuming that a person who has credentials is the employee can aid with the detection of the intruder early.

Phishing is still a major vector for threat actors that leads to data breaches. More sophisticated campaigns tend to bypass the security that detects social engineering.

Therefore, awareness training for all teams is still necessary to combat this threat. They should know how to recognize and report phishing.

CNAAP Platform For Cloud Native Workloads

Cloud-Native Application Protection Platform (CNAAP) combines several tools that are made specifically to protect the cloud.

Working together and uniting in a single platform under the acronym CNAAP, they can aid security teams to:

• Uncover errors in the configuration
• Discover which parts of the cloud need their attention first
• Achieve compliance

Discovery of misconfigured components is possible with CNAAP — whether we’re talking about errors in the configuration of containers, security, or cloud workloads. It scans the environment at all times to identify any errors in the configuration.

Risk-focused alerts aid security teams to detect and mitigate threats before they turn into damaging data breaches. They’re neatly displayed on the dashboard for teams who have visibility of the entire cloud security at a glance.

The platform uses machine learning to determine if the potential threat that has been detected does indeed present a critical risk in the context of one’s infrastructure.

Another important ability of the CNAAP is that it can aid companies to meet compliance. They automate it and enforce it along with any other security policies that are important for the business.

Staying Secure and On Cloud Nine

All in all, cloud security for small businesses should be all about efficiency and lower costs while protecting the data that is stored within the virtual environment.

As a company with fewer funds, you might not have large security teams that are dedicated to protecting and configuring the cloud.

Regardless, you’re buying and adding cloud components as the need arises because it cuts costs, facilitates telecommuting, and will enable scaling in the future.

Therefore, it’s important to know which are the most common vulnerabilities that could endanger the company and turn this essential asset into a liability.

Even more, it’s important to choose the tools that aid you with the management of the new infrastructure that is growing in complexity and protection of your most valuable assets — such as data.

Image: Envato Elements

This article, "The Basics of Cloud Security For SMBs: Zero Trust, CNAAP, and More" was first published on Small Business Trends

Don’t Miss BrandSmart 23′ Longest-Running Brand Marketing Conference in the US

Brand recognition is one of the hardest achievements of any sized business. However, once it is achieved it has a huge payoff. As the longest-running brand marketing conference in the United States, BrandSmart will teach you how to get your brand noticed with a showcase of 10+ TED Talk-style mainstage presentations.

Innovators, thought leaders, disruptors, and transformers will be discussing trust, value, purpose, engagement, management and innovation so you can build these cornerstones of brand resilience for your small business.

Click on the red button and register now to attend BrandSmart 2023 on April 27.

Register Now

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Featured Events, Contests and Awards

SmallBizFluence: “Find Your Freedom” Event
February 06, 2023, Online

The SmallBizFluence “Find Your Freedom” event is days long online event that will enable you take your life back — and love your business. You’ll learn how to get more clients, make more money, and save time so that you can work on your business and not in it. Register today!

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BrandSmart 2023
April 27, 2023, Chicago, IL

Successful brands are able to cope with unforeseen challenges and seize opportunities for transformation, while maintaining core values and credibility. BrandSmart 2023 will deliver a showcase of 10+ TED Talk-style mainstage presentations featuring innovators, thought leaders, disruptors, and transformers discussing these cornerstones of brand resilience: trust, value, purpose, engagement, management and innovation. BrandSmart brings together noteworthy speakers and future-forward brand marketers — a who’s who of decision-makers and influencers — to share proven tools, smart ideas and inspiring stories.

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Building Business Capability
May 08, 2023, Las Vegas, Nevada

Building Business Capability is the only conference that enhances your ability to advance People, Product, Data, and Knowledge, to build your core leadership skills, to create a customer centric organization, and to deliver digital transformation.

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Houston Small Business Expo
May 24, 2023, Houston, Texas

Network with over 1,000 business owners and decision makers. You will want to arrive early, bring a co-worker or friend, and at least 50 Business cards. Get ready to grow your Network and Grow your Business!

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Conversion Conference
June 19, 2023, Las Vegas, Nevada

The Conversion Conference will leave you knowing how to attract the right audience, align business models with the user experience, optimize the lifetime value of client relationships and introduce you to the right technology to make it all happen.

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You can see a full list of events, contest and award listings or post your own events by visiting the Small Business Events Calendar.

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This article, "Don’t Miss BrandSmart 23′ Longest-Running Brand Marketing Conference in the US" was first published on Small Business Trends

Barcode Scanners for Your Business

Barcode scanners are an invaluable tool for both sales and inventory management. If you’re just starting or growing your small business, you’ll need a barcode scanner to help increase your productivity and accuracy.

Not all barcode scanners are the same. Some scanners can only read 1D barcodes – the standard black-and-white UPC codes found on most consumer goods. Others can scan 2D codes like QR codes. Some scanners can read both types. Whatever the case, a barcode scanner can provide faster, more accurate, and more efficient data entry and POS processing.

How Do Barcode Scanners Work?

Barcode scanners use laser or LCD light to capture the pattern on a barcode and decode it into a numerical sequence of binary code.. They then process and relay that information back to the POS or computer connected to them.

What to Look For in a Barcode Scanner

Here are a few things to consider when shopping for a barcode scanner. Be sure to read the product description carefully so you know the device’s capabilities.

• Compatibility – Make sure the scanner you purchase is compatible with the OS or device you use.
• Scanning Modes – Some scanners have several modes, like automatic scan or continuous scan.
• Scanning Type– Decide whether you want a scanner that reads 1D barcodes, 2D/QR codes, or both.
• Battery Life – Look for units with powerful batteries and long battery life. Also, units with a battery life indicator are helpful in making sure your scanner doesn’t lose power during use.
• Durability – Scanners get used heavily, and can easily be dropped or fall. They can also be exposed to dust and debris, depending upon the location. Get a scanner that is durable and, if necessary, dust resistant.

Fortunately, there are a lot of barcode scanners online. We selected 10 of the best ones we could find on Amazon to help you get started in your search. Check out our list below for barcode scanner options on Amazon for your small business.

Barcode Scanners for Your Business

Below is our list of the ten best barcode scanners available on Amazon. Different types, capabilities, and prices are all represented, so you’re sure to find something that meets both your needs and your budget.

 

ScanAvenger Wireless Portable 1D Scanner With Stand

This scanner requires no software or apps – just plug it in and go! This 3-in-one wireless, Bluetooth, and USB scanner has 3 modes: manual, continuous, and auto sense, as well as vibration capabilities for noisy environments. Its stand holds and charges the scanner while also providing wireless transmission.

ScanAvenger Wireless Portable 1D Scanner With Stand

Buy on Amazon

 

Symcode Omnidirectional Hands-Free Automatic USB Barcode Reader Scanner

Symcode’s hands-free scanner can capture bar codes 1D, 2D/QR on labels, paper, and mobile phone or computer displays. You can choose between 3 scanning modes: 1D codes only,  2D/QR codes, and 1D and 2D/QR codes. It is designed to withstand falls and bumps.

Symcode Omnidirectional Hands-Free Automatic USB Barcode Reader Scanner

Buy on Amazon

 

Motorola Zebra Symbol Wireless Bluetooth Barcode Scanner

This 1D scanner uses a single circuit board to improve reliability by eliminating interconnections. It also features long-lasting battery power for scan-intensive situations such as inventory. A cradle and 2 USB cords are included.

Motorola Zebra Symbol Wireless Bluetooth Barcode Scanner

Buy on Amazon

 

Alacrity Upgraded 2D Industrial Barcode Scanner with Wireless Charging Stand

Alactrity’s upgraded 2D scanner is compatible with Windows, Mac OS, IOS, and Android, and works with most common software including QuickBooks, Word, Excel, and Novell. It features a hands-free intelligent sensor mode, trigger scan mode, data storage, and more.

Alacrity Upgraded 2D Industrial Barcode Scanner with Wireless Charging Stand

Buy on Amazon

 

Honeywell Voyager Linear/Area-Imaging Scanner

This Honeywell barcode scanner can be used to scan and decode linear 1D, 2D, and PDF417 barcodes. It can scan barcodes at different angles, and the USB cable can be connected to a computer or another host system for data transmission.

Honeywell Voyager Linear/Area-Imaging Scanner

Buy on Amazon

 

Tera Wireless 1D Laser Cordless Barcode Scanner

This scanner’s anti-shock silicone protective cover can prevent scratches and friction even when dropped, and its IP54 technology protects it from dust. You can plug and play this barcode scanner with the USB receiver or the USB cable, and the wireless transmission reaches up to 328 ft. in barrier-free environment.

Tera Wireless 1D Laser Cordless Barcode Scanner

Buy on Amazon

 

Alacrity 2D 1D QR Desktop Barcode Scanner

Alacrity’s hands-free scanner can capture all common 2D 1D codes,  as well as stacked PDF417 codes on ID cards. It features automatic sleep and wake-up modes, as well as autodetection. This device requires a USB port.

Alacrity 2D 1D QR Desktop Barcode Scanner

Buy on Amazon

 

NETUM Bluetooth Barcode Scanner

NETUM’s Bluetooth barcode scanner’s 2000mAh battery can provide up to 30 hours of continuous scanning – perfect for inventory scanning. It connects with smartphones, tablets, or Bluetooth-enabled computers, and has a plug-and-play interface.

NETUM Bluetooth Barcode Scanner

Buy on Amazon

 

iDPRT Wireless Bluetooth Barcode Scanner

This Bluetooth wireless barcode scanner supports a wide range of 1D and 2D codes and can read on both paper and screens. It has a maximum transmission distance of 99ft with a Bluetooth connection and 3 scanning modes. An ergonomic and sturdy design round out the features on this affordable barcode scanner.

iDPRT Wireless Bluetooth Barcode Scanner

Buy on Amazon

 

Eyoyo Desktop Omnidirectional Hands-Free Wired Barcode Reader

Place this hands-free barcode reader on a desk or countertop and let it do the work! It reads 1D, 2D and QR codes on labels, paper, and mobile phone or computer displays and is sensitive enough to read distorted, damaged or smudged barcodes.

Eyoyo Desktop Omnidirectional Hands-Free Wired Barcode Reader

Buy on Amazon

 

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This article, "Barcode Scanners for Your Business" was first published on Small Business Trends

What Trends May Impact Small Businesses in 2023? Our Community Shares Their Answers

Utilizing trends can help your business stay relevant and get more efficient. However, not every trend will be relevant to your business. Here are some insights to consider from the online small business community, ranging from social media to app development. You can also find tips for analyzing trends and learning how to implement them into your operations in 2023.

Learn the Most Important Social Media Trends of 2023

Social media is constantly evolving. So it’s important to keep an eye on the trends that are most relevant to the platforms you use. In this Crowdspring post, Rizza DC offers insights into some relevant social media trends for 2023.

Analyze Trends and Learn How to Apply Them to Your Business

Not every trend you come across is going to be relevant to your specific business mission or industry. So it’s important to analyze those that interest you and determine the best way to apply them. Ivana Taylor details a fun and simple process for doing just that in this DIY Marketers post.

Use YouTube to Generate Leads

Traditional lead generation strategies are still relevant for many businesses. But there are new options that may benefit businesses in select industries. For instance, this Social Media Examiner post lays out how to use YouTube to generate leads.

Focus on SEO That Counts

Google regularly updates its algorithms to better serve users. So that means that businesses must constantly adapt if they want to make the most of their SEO strategies. In this post, Erik Emanuelli lists some current Google ranking factors to focus on. And BizSugar members commented on the post here.

Get the Top eCommerce Website Design and Development Trends

Online shopping habits can also change dramatically from year to year. So there are relevant trends that can impact ecommerce shops as well. Read about several of them in this CLLAX post by Arjun Solanki.

Ensure Employees Are Mentally Healthy

Mental wellness is a hot topic right now, in the business world and beyond. As an employer or manager, there are a few key things you can do to help your employees and their mental health. This SMB CEO post by Ivan Widjaya includes several helpful tips.

Address the Common Reasons Behind App Abandonment

Mobile apps are still a huge resource and opportunity for businesses in 2023. However, you need to provide a positive experience if you want to stand out from the competition and keep users coming back. This ENO8 post by Rishi Khanna features several top reasons why users abandon apps. So you can address these common concerns in your own offerings.

Keep Up with Transpiring Web Development Trends

If you’re wondering what’s new in the world of web development for 2023, there are lots of relevant trends to explore. Check out this Decipher Zone post by Mahipal Nehra for a collection of news and notes on this subject.

Get More Efficient with Outsourced HR

Hiring is still a difficult task for many businesses. So some companies are considering the benefits of outsourcing various functions. If you’re thinking of outsourcing HR in 2023, read this SmallBiz Technology post by Becca Williams to learn about the benefits.

Find Community News in Your Rural Area

Community news is becoming increasingly difficult to find, especially in rural areas. Social media offers lots of new ways for people to reach each other. But these platforms can also make it more difficult for traditional news outlets to thrive. In this Rural Area Life post, Lisa Sicard offers tips for finding reliable news sources in these communities. And BizSugar members brought their own insights to the conversation here.

If you’d like to suggest your favorite small business content to be considered for an upcoming community roundup, please send your news tips to: sbtips@gmail.com.

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This article, "What Trends May Impact Small Businesses in 2023? Our Community Shares Their Answers" was first published on Small Business Trends

Ways to Recognize Employees: Their Tax Implications

It doesn’t cost you anything to say “thank you” to employees who do a good job for your company, and there are no tax implications here. But if you want to do more to recognize their accomplishments and retain them as valued employees, there are many things you can do.

Tax Rules for Paying Employees Extra

Whenever money is involved, tax implications follow. Also keep in mind the growing trend in state law of pay transparency; what you do for one employee may be known to all your staff.

Cash

Whatever label you put on it, cash or cash equivalents are treated as taxable compensation. Employees are taxed on bonuses while the company can deduct the payment (assuming total compensation to the employee is reasonable). The bonuses are subject to payroll taxes too.

• Bonuses. Who doesn’t want more money, so giving a bonus—not just an annual one, but rather one tied to a specific achievement—will be a welcome reward.
• Anniversary gifts. No, this isn’t related to an employee’s marital status; it’s to recognize how long the employee has been with the company. A monetary gift may be warranted, and Oracle Netsuite suggests it be a percentage of salary and that the percentage grow each year.
• Gift cards. Even though this is a small monetary gesture, it’s still a sign of recognition and treated the same for tax purposes.

Fringe benefits

Above and beyond compensation, various perks can be just the thing to acknowledge a valued employee. Consider helping employees pay their student loans, pursue education, or defray the cost of childcare. Many fringe benefits must be provided on a nondiscriminatory basis for favorable tax rules to apply to employees and the business. And they usually are offered on an annual basis and are not tied to job performance. This means most can’t be used to single out a single employee who’s done an excellent job on a particular project. Nonetheless, check the list of potential benefits in IRS Publication 15-B.

Note that if you provide transportation benefits—free parking, transit passes, or van pooling—you can’t deduct your cost even though the benefit (up to $300 per month in 2023) is tax free to employees and not subject to payroll taxes.

Time off

If employees have been working especially hard and you want to reward them, then give them time off. If the time off is paid leave, it’s treated as regular compensation; the rules discussed earlier apply. Time off can be for:

• Volunteer work. Employees may be involved in organizations or support ones that company chooses.
• Sabbaticals. Small businesses may not be able to have an employee away from the company for an extended period of time. Still, a paid sabbatical may be appropriate for certain employees, such as a manager or someone engaged in artistic activities.

Share ownership

If you really want to show appreciation to your staff—and get them to commit even more to your company’s success—consider sharing ownership with your staff. There are several ways to do this if your business is incorporated:

• Give stock to employees as compensation. If you are a C corporation and aren’t in certain service industries, employees can get 100% tax-free gain up to $10 million as long as they’ve held the stock (called Section 1202 stock or qualified small business stock as explained in the instructions to Schedule D of Form 1040) for more than 5 years.
• Employee Stock Option Plan (ESOP). Both C and S corporations can set up a retirement-like plan funded with employer stock. There are tax benefits to both employees and owners:
  • Contributions of stock are tax deductible by the corporation (limitations apply)
  • Cash contributions to the ESOP so it can purchase stock from existing owners is deductible
  • Owners who sell their shares can achieve tax deferral on the gain from this sale if certain conditions are met
  • Employees who participate in an ESOP are treated much the same way as they are with respect to employer contributions to a 401(k); no tax to employees until they receive distributions.

Learn more about ESOPs through the National Center for Employee Ownership.

• Grant stock options. This gives employees the right to exercise the options and acquire stock. These can be:
  • Incentive stock options (ISOs). These are typically used by publicly traded corporations, so no further explanation is needed here.
  • Nonqualified employee stock options. These are options that don’t meet the requirements to be ISOs.
  • Qualified equity grants. These grants allow employees in privately-held corporations to defer income from if the company provides an escrow arrangement to hold the shares until the correct amount is withheld from employees’ pay at the end of the deferral period. The Tax Adviser has a good explanation of this benefit.

Conclusion

Listen to what your employees would like, consult your budget, and offer what you can. If you can’t afford a big reward, even a small gesture—a written thank-you note, an Employee of the Month award, or a favored parking spot—can go a long way in showing your appreciation.

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This article, "Ways to Recognize Employees: Their Tax Implications" was first published on Small Business Trends

In the News: New Pandemic Relief Grant Programs of $500 to $35K for Small Businesses

Pandemic-related grants have tens of thousands of small businesses with timely needed funds for the past couple of years. And these grants continue to be available because small businesses are still feeling the impact of the pandemic. These grants address a wide range of issues and they are different in each community where they are being offered.

With that in mind, make sure to take carefully go over the criteria of the grants to ensure you qualify. And if you do, follow the instructions to the letter and submit the application as soon as possible. Early submission always gives you a better chance when applying for grants, so, good luck.

The new pandemic relief grant programs for small businesses are providing up to $35,000. The challenges these grants look to solve include construction recovery, economic development, business innovation, subscription and delivery costs, tribal-owned businesses, and more. Find out more:

• New Pandemic Relief Grant Programs for Small Businesses

Small Business News January 27, 2023

In the rest of this week’s roundup find out what Meta is doing to help creators and publishers with intellectual property, FTC possibly investigating egg price gouging, the record eCommerce sales, and much more:

Meta Launches Tool to Help Creators and Publishers with Intellectual Property Rights

Meta recently launched a new website to help creators and publishers better manage their intellectual property. Meta Launches Rights Manager Site Rights Manager is intended to combat copyright infringement and protect lawful expression on Facebook and Instagram.

Farmers Group Urges FTC to Investigate Possible Egg Price Gouging

What’s really behind the high egg prices? A group called Farm Action has asked the Federal Trade Commission to see if the federal anti-trust act has been violated. Is it fowl play? Or a unavoidable response to rising costs, including fuel and feed? Farm Action Tells FTC to Investigate Possible Egg Price Gouging First, some background about Avian Flu.

Local Community Revitalization Business Grants Available Across the US

Small business grant programs don’t just help the businesses that receive financial assistance. They can also make communities more vibrant and improve local economies. That’s why so many cities and local governments run these programs. Latest Revitalization Grants This week, several communities launched recovery and enhancement grant programs to support their business communities.

Ecommerce Sales Hit a Record High in the 2022 Holiday Shopping Season

Ecommerce sales hit a record high during the recent holiday season, with consumers spending a total of $211.7 billion online between the beginning of November and the end of December. Ecommerce Sales Hit a Record High in the 2022 Holiday Shopping Season The spend represents year-over-year growth of 3.

How to Buy a Company With Someone Else’s Money

A lot of entrepreneurs must make the build or buy decision when thinking of owning their own company. Do they want to start from scratch as a founder or pay someone else for their business? With company valuations down, this may be the year that you can buy that small business at a low price even with someone else’s money.

Rocket Lawyer Launches Tax Prep Tool for Small Business Owners

A new tool has been launched by legal services platform Rocket Lawyer for small business owners who find preparing and filing their taxes stressful and confusing. Rocket Lawyer Launches Tax Prep Tool for Small Business Owners The new Rocket Tax works by pairing customers with licensed and experienced tax professionals to make the process simpler and more convenient.

Physician Convicted on PPP Loan Fraud, COVID Relief Charges

A federal jury recently convicted a Colorado physician for fraudulently receiving around $250,000 from two separate Covid-19 relief programs. Physician Convicted on PPP Loan Fraud, COVID Relief Charges Court documents at the trial of Dr. Francis F.

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This article, "In the News: New Pandemic Relief Grant Programs of $500 to $35K for Small Businesses" was first published on Small Business Trends

The Standard Deduction 2022: Everything You Need to Know

Knowing what you can deduct from your income and how that affects your taxes this year has never been more important. To help make understanding all of these different tax deductions easier for you, we’re here today with a complete guide about the ins and outs of the standard deduction 2022.

Read on to discover everything taxpayers need to know in order to maximize refunds or minimize tax payments. Let’s get started!

What is the Standard Deduction 2022?

The standard deduction is a fixed amount that taxpayers who do not itemize deductions can subtract from their gross income when determining the taxable income.

Let’s take a look at a table of the federal income tax system tax year 2022 standard deduction, which has a deadline of April 18, 2023.

Filing Status	2022 Standard Deduction
Single or Married Filing Separately	12950
Married Filing Jointly or Qualifying Widow(er)	25900
Head of Household	19400
At least 65 years old or blind	Additional $1,400
At least 65 years old or blind (single or head of household)	Additional $1,750
At least 65 years old and blind	Additional deduction amount doubled

How Does the Standard Deduction Work?

The standard deduction reduces the amount of income that is taxable for individuals and families. It is claimed as a deduction on the taxpayer’s 1040 form, which results in a lower total tax due because taxes are calculated on the adjusted (lower) taxable income amount.

The deducted amount does not need to be itemized or documented. Instead, it is a flat amount applied to all filers who choose to claim it. Generally speaking, when taxpayers have fewer deductions than the standard deductions available to them, claiming the standard deduction will result in lower taxes owed.

Who Can claim the Standard Deduction to Reduce Taxable Income?

The standard deduction is an important tool for those looking to reduce taxable income and keep more of what they earn. The following outlines who or what groups can claim the standard deduction based on filing status:

• Individuals – Single filers, heads of households, married filing jointly couples, taxpayers 65 years or older, and those who are blind may all qualify for the basic standard deduction.
• Businesses – Sole proprietorships, partnerships, LLCs, S-corporations, C-corporations, and non-profits may be able to take advantage of the standard deduction if they meet certain criteria.
• Estates & Trusts – Fiduciaries administering the estate or trust may be eligible to claim the deduction on behalf of the estate or trust if some qualifications are met.

Standard Deduction Restrictions

While there are many benefits to claiming the standard deduction, like reducing taxable income and lowering taxes due, there are restrictions on who is allowed to claim it.

To be eligible for the standard deduction, taxpayers must meet certain criteria outlined below:

• Income Limitations – Taxpayers must meet certain income thresholds in order to qualify for the deduction. So people in higher income tax brackets may need to speak with a tax advisor or accountant to determine if they would be better off itemizing their deductions.
• Dual Status Filers – Couples who are married filing separately, when a spouse itemizes deductions, and those with both U.S. citizen and non-citizen spouse status may be restricted from claiming the deduction. This is due to certain complexities that can arise when filing a dual-status tax return.
• Dependents – Dependents are not allowed to claim the standard deduction and must itemize their deductions to lower taxable income. This is because the higher rate of taxation on dependents often results in them having to itemize their deductions rather than claim the standard deduction.
• Itemizers vs. Non-itemizers – Taxpayers that choose to itemize their deductions instead of taking the standard deduction will not be eligible for the deduction in most cases.
• Nondeductible expenses – Medical, dental, and certain other expenses are generally not deductible when taking the standard deduction.
• Annual accounting period change – If a person files a federal income tax return that’s for a timeframe of fewer than 12 months because of a change in their annual accounting period, then they cannot claim a standard deduction.

How to Claim the Standard Deduction and Lower Your Tax Bill

Claiming the standard deduction can be a great way to lower your taxable income and reduce the amount of taxes you owe.

Here is a step-by-step guide on how to claim the standard deduction:

Step 1: Gather Your Tax Documents

The first step when applying for the standard deduction is to gather all of your tax documents, such as a W-2, 1099s, and any other forms that include income information.

Step 2: Calculate Your Income

Once you have collected all of the necessary documents, the next step is to calculate your gross income, which is the total income before any deductions are applied.

Step 3: Calculate Your Deduction Amount

In the case of a standard deduction, you will need to determine which amount is greater: the standard deduction or the total of all itemized deductions.

If the standard deduction is greater, you should choose to claim it.

Step 4: File Your Tax Return

Once you have determined which deduction to claim, you can then move on to filing your tax return.

You will need to include the applicable forms and documents when filing your return.

If you’re self-employed, make sure you know how to file self-employment taxes and research the best tax software for self-employed to fit your specific business needs.

Step 5: Lower Your Tax Liability

Finally, the standard deduction will reduce your taxes owed by reducing your taxable income. This means that you will have less of a tax burden, and you can keep more of what you earn.

Standard Tax Deduction Vs Itemized Deductions

Both the standard deduction and itemized deductions offer taxpayers a way to reduce their taxable income and lower the amount of taxes they are liable for. The main similarity between them is that they both allow people to deduct a certain amount from their gross income.

The major difference between them is how they are calculated. The standard deduction allows taxpayers to deduct a flat amount, whereas itemized deductions are based on actual expenses with receipts and other paperwork required as proof.

Filers must choose one or the other. Those who wish to itemize must give up the standard deduction and vice versa. Ultimately which deduction option yields greater savings for individuals depends on their entire tax picture and financial situation.

The Standard Deduction 2023

The smart taxpayer will start watching their 2023 return now, even if they haven’t filed their 2022 return yet. Here are the 2023 standard deduction amounts for those who plan to take advantage of them early:

Filing Status	2022 Standard Deduction
Single or Married Filing Separately	12950
Married Filing Jointly or Qualifying Widow(er)	25900
Head of Household	19400
At least 65 years old or blind	Additional $1,400
At least 65 years old or blind (single or head of household)	Additional $1,750
At least 65 years old and blind	Additional deduction amount doubled

The Bottom Line

The standard deduction is an important part of filing your taxes, and it’s important to know how much you’re entitled to. The changes for the 2022 tax year may impact how much you can deduct, so it’s a good idea to be prepared.

By understanding the standard deduction and how it works, you can maximize your deductions and save money on your taxes. If you need help navigating the standard deduction and other deductions, it may be beneficial to consult with a qualified tax professional who can provide you with detailed advice on how to file taxes properly and lower your tax bill.

This way, you can get the most out of your taxes and reduce your overall liability. You can also get free tax advice by calling the IRS if you have any tax questions.

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This article, "The Standard Deduction 2022: Everything You Need to Know" was first published on Small Business Trends