2008 Great Depression

A lot has been happening lately, Fannie Mae and Freddie Mac have been snapped up. AIG has been snapped up. Bank of America has taken over Merrill Lynch. And, most recently a new bill is proposing a massive, nearly 1 trillion dollar ($700 Billion Dollar) bailout for the economy en masse.

Regardless of your opinion on what is happening, or how to eliminate the downward spiral I found this video this afternoon courtesy of Digg.com. The video features Peter Schiff, former Ron Paul adviser, discussing the economy and the proposed government intervention. It is a very interesting watch:

Regardless of what happens - the bill passes and the current crisis is delayed for a few years or a few dozen, or it doesn’t and a terrible crash and rebuilding ensues, one thing seems to hold true, things will get worse before they truly get better. I also noticed at the very end of the video the video’s author on YouTube added his website and information as a quick marketing tool.

We’ve noticed locally, businesses closing, and everyone in general seems to be effected by the slowing economy, higher prices, job losses, a general slowing. But, it is those who stay creative and nimble, that can weather this storm, no matter how long it lasts.

Southwest Florida Small Banking

Well, I am not an expert in finance. In fact I was just discussing with a friend last week, one who graduated with an accounting and finance degree from Florida Gulf Coast University, how much I despised economics and the other finance related courses I took in college.

Okay, they weren’t that bad, and in hindsight I really wish I would have paid more attention. So, as you can tell “finance” is not really my area of expertise. But, I have picked up a few things along the way. A few years ago we contracted the services of a renowned business consultant who helped us analyze our business, particularly from a financial point of view as well as are working with a very solid accountant who makes sure we are taken care of.

Small Business Finance Advice

So, with nearly 3 years of running a small business under my belt, what kind of advice can I impart? Just the following:

Use Quickbooks

Quickbooks is practically a prerequisite for small businesses now-a-days. Whether it is the desktop version or the online one I highly recommend it. Personally, I don’t think it’s user-interface is that nice or simple, and it will take time, but using this tool will be key to tracking everything in your business.

Use Paychex

Payroll can be complicated, but paychex simplifies everything. Although they do have a monthly fee, which could be erradicated if you did it yourself, either through quickbooks, or another technique, the time it takes to do payroll is nearly eliminated saving everyone’s time and allowing your business to concentrate on what matters most - your expertise and what brings in revenue.

Hire Experts (you get what you pay for)

Early on we kept a VERY strong hold on every dollar that went out the door - and in some ways continue to do so. Our initial dealings with a local accountant involved a friend-of-a-friend who we traded services with. Bartering is a great way to start and helps leverage your expertise - something you have right now - instead of cash (something you might not have) for something you need. Although, the trade in and of itself wasn’t a bad idea, the person we selected did not live up to their claims. Fortunately not to long ago we switched and are taken care of now with nothing unexpected coming our way.

The moral of the story is hire experts and reliable services. They may be more expensive, but you get what you pay for in terms of service and in the case of things like finance or legal issues it helps avoid shocking stuff you didn’t plan for. Additionally, a great service provider can also be a fantastic referral partner.

Welcome to Bonita Business

Thank you for stopping by the newest and most innovative place on the web for Southwest Florida. So, what is BonitaBusiness.com? I’m glad you asked. Bonita Business was created by me, Zach Katkin. I am currently the co-owner of Atilus, a local web development and Internet Advertising company based right here in Bonita Springs (Southwest Florida).

Basically, my partner and I have had to go through a lot in order to setup, and maintain our business. And as it grows, we are faced with new challenges and situations every single day. With that in mind we wanted to produce a true resource for the community, or those thinking about joining the community to assist others in the day-to-day operations of their business.

We also have additional resources we will be rolling out as the site chugs along in order to provide even more helpful information and services to the Southwest Florida (Naples, Fort Myers, Bonita Springs, Marco Island, Sanibel, Estero) business community.

In total, BonitaBusiness.com will provide visitors with:

1. Information on Southwest Florida’s business environment
2. Articles on business categories/topics from leaders in the community
3. Resources (where to get/find stuff for business)
4. Business Forum (open forum where users can discuss anything business)
5. Networking/Seminar Calendar
6. Business Directory (place for local businesses to gain exposure and market themselves)
7. Photo Gallery (pictures from networking events and seminars)

Articles on business categories will be written by partners of bonitabusiness.com who have been hand selected as prominent leaders in their field. Our articles will be featured under the following categories:

1. Technology
2. Real Estate
3. Marketing
4. Development
5. Management
6. Finance
7. Legal

So, check back often as we will be constantly adding articles and information to help new businesses, seasoned businesses, people and companies thinking about moving down to Southwest Florida as well as potential upstart companies and individuals who may want to start a business, but aren’t exactly sure how, or what they need to know.