With the year quickly coming to an end, David Tepp, president of Tepp Financial Planning, explains five ways for small-business owners to save on their taxes. Making equipment purchases, contributing to a retirement plan and issuing bonuses may generate tax advantages, he notes.
Condition-based maintenance is a form of predictive maintenance that uses sensors to show when equipment performance is deteriorating or approaching failure, writes Limble CMMS CEO Bryan Christiansen. Implementation can be expensive and time-consuming, but can improve productivity and reduce maintenance costs.
Modular robotic technology is changing quickly, which is why companies must be selective when making purchases, writes Florence Acuna of KUKA Robotics. "With thorough vetting and a consideration for future needs, electronics manufacturers can successfully implement modular robots to support their long-term business goals," writes Acuna.
Ransomware and spoofing attacks on companies have increased by 350% and 250% respectively this year, writes BDO executive Gregory Garrett, who urges manufacturers to strengthen access controls, hold training for all employees and have a companywide plan for responding to an incident.
Executives must take note of digital technologies, globalization and other trends affecting procurement, write Samir Khushalani and Edward Woodcock of McKinsey. "Putting the right operating model in place for procurement can be a game-changer, doubling the impact of even 'successful' sourcing departments," the authors write.
The hierarchy of controls -- a five-step process to reduce exposure to hazards -- can be applied to cold-weather risks, writes Karen Hamel. "Train supervisors to understand that both temperature and wind chill need to be considered when employees will be outdoors," she writes.
Ambika Singh founded her clothing rental startup Armoire two years ago and she promotes it with an always-on entrepreneurial style that has proved successful in raising a total of $4.7 million in venture capital. Her method for convincing mostly male investors to consider a women-run startup often included signing up their wives and daughters as customers first, she said.
Since it was created five years ago, the NRF Foundation's Student Program has grown tremendously with more than 1,000 college students projected to attend in 2019. At this year's event in New York, taking place Jan. 10-13, students will get exposed to more mentoring and new experiences that will prepare them for a retail career. Read what the Student Program has in store.
The NRF Foundation has announced five students as finalists for their Next Generation Scholarship. The students each attend SCAD-Atlanta, Texas A&M University, Kent State University, LIM College and Indiana University and will interview at the Student Program to determine who will receive a $25,000 scholarship. Meet the finalists.
Advance Realty and Invesco Real Estate have started construction on Paramus Crossroads, a new retail building in Paramus, N.J.; they plan to complete the work by spring. The property will feature a 40,000-square-foot building, with plans for roughly 10 new retail and dining tenants.