In international trade, region is “WorldWise”
Transcription
In international trade, region is “WorldWise”
Volume 38, Issue 3 Official publication of the Greater Cincinnati Chamber of Commerce March 1999 In international trade, region is WorldWise A January visit to Cincinnati by Li Zhaoxing, Chinese ambassador to the United States, underscores the regions prominence in international trade. Local businesses sold $55 million in goods and services to China in 1996 (the most recent statistics), up 61% from the year before. And China is just one trading partner in our areas growing international marketplace. The regions increasing export sales catapulted Greater Cincinnati to 22nd in exports among U.S. metropolitan areas in 1998, up from 25th just one year earlier. Nearly 1,800 area companies had export sales totaling more than $5.9 billion in 1998, and more than 100,000 of the regions jobs are related to exports. We are definitely a major player in international trade, said Dave Anderson, current chairman of the Chambers International Advisory and Advocacy Council and director of civic and community affairs for Delta Air Lines. A pivotal element of our export growth has been Chamber training, which can simplify the process for companies in our region. More than 2,000 people have attended Chamber training sessions and international roundtables. The Chambers training has been so successful that the program is now used as a model by other chambers across the country. When it comes to exporting, most people think of large multinational corporations such as P&G and GE, Anderson Welcoming His Excellency Li Zhaoxing, Ambassador of the Peoples Republic of China to the United States, at a recent Chamber luncheon (from left to right): Secretary of State Ken Blackwell, P&G Chairman John Pepper and Mayor Roxanne Qualls. said. The truth is, with a little education, its not that difficult for much smaller companies to reap the benefits of selling around the world. Andy Bell, international sales and logistics manager for Bell Furniture Industries, Inc., discovered that truth by chance while exhibiting at a furniture show in High Point, NC. Eureka! Chamber plan offers world-class creativity Chamber small businesses can now afford to compete with Fortune 500 companies in their quest for breakthrough ideas. The Chamber recently completed a partnership arrangement with nationally acclaimed Eureka!Ranch, allowing Chamber members with 300 employees or less to attend mindblowing innovation sessions at half the normal cost. Members can attend Eureka!Bootcamp sessions as profiled in The Wall Street Journal, Advertising Age and Inc. Magazine for as little as $1,000 to $2,000 for two employees. This program offers an enormous value for our small business members, said David Owens, manager of educational programs. In addition to the substantial See Americas idea man, page 7 See Export training, page 4 In this issue... Hiring Employees ........................... Page 5 Prices Drop on Technology ............ Page 6 Childrens Hospital Recognized ... Page 7 Selecting a CPA .............................. Page 9 Coming up March 3 Downtown Awards Luncheon, 11:30 a.m., Omni Netherland Hotel. Call Chris Hooven, 579-3191. 4 Supervisory Leadership Development seven-session course begins, 4-6 p.m. Thursdays, at the Chambers Branch Office. Call Chenise Crump, 579-3166. 9 Greater Cincinnati/Northern Kentucky Buyer-Seller Conference, 2-6 p.m., Northern Kentucky Convention Center. Call 578-8800. 10-11 Export Training, 8 a.m.-noon each day, at the Chamber. Topic: Letter of Credit and Drafts. Call Karol Tuke, 579-3175. 11 Strategic Eight Preview Session, 7:30-9 a.m., TriHealth Fitness & Health Pavilion. Call David Owens, 579-3149. 11 Networking Bizarre, 5-7 p.m., Fairfield Banquet & Convention Center. Call Kris Gentry, 891-8833. 15 Eureka!Bootcamp, 8-5 p.m., Eureka!Ranch, Call David Owens, 579-3149 16 Greater Cincinnati Venture Association Luncheon, noon-1:30 p.m., Omni Netherland Plaza. Call Chenise Crump, 579-3166. 18 Finance for Non-Financial Managers, 8:15 a.m.-4:45 p.m., SportsPlus in Evendale. Call Chenise Crump, 579-3166. 24 NAFTA Training, 8 a.m.-4:30 p.m., at the Chamber. Call Karol Tuke, 579-3175. 25 Business Seminar, 8 a.m.-noon, SportsPlus at Evendale. Topic: Creative Workforce Planning: Interviewing, Recruiting and Retaining. Call Chenise Crump, 579-3166. 25 Foundation Awards, 4-6 p.m., Riverview Hotel. Call Randy Welker, 579-3159. 26 Chamber Breakfast Forum, 7:15-9 a.m., The Cincinnati Club. Speaker: Mark Andreae, president of Small Business of the Year, Clarke Detroit Diesel-Allison. Call Chenise Crump, 579-3166. 30-31 Business & Industry Environmental Symposium, 7:30 a.m.-6 p.m. Tuesday, 7:30 a.m.-2 p.m. Wednesday, Cincinnati Convention Center. Call 614/229-7990. 6 Strategic Eight Preview Session, 7:30-9 a.m., at the Chamber. Call David Owens, 579-3149. April Free business assistance available through Chamber 2 Need help with a business problem? Could you use a free hour of one-on-one consultation with another Chamber member an expert in your area of need? The Business Assistance Center at the branch office maintains a monthly schedule of volunteer experts who meet individually with members. The sessions are not group seminars. The February schedule of one-on-one consultations is: (ISPS 859-400) is published monthly by the Greater Cincinnati Chamber of Commerce, 300 Carew Tower, 441 Vine St., Cincinnati, Ohio 45202. Telephone: (513) 579-3100. Branch Office: 9545 Kenwood Road, Suite 403, Cincinnati, Ohio 45242. Telephone: (513) 891-8833. Web site address: www.gccc.com. Subscriptions are included in the annual dues of each Chamber member. Periodicals postage paid at Cincinnati, Ohio. March 17th, 3 5 p.m. w The ABCs of Understanding Financial Statements, Resource To Be Determined. w Protecting the Most Valuable Asset You Own, Your Business, Tom Neess, The Bull Group Advisors, Ltd. Postmaster/Address Changes Send address changes to Greater Cincinnati Chamber of Commerce, 300 Carew Tower, 441 Vine St., Cincinnati, OH 45202-2812. Attn: Lori Muench. Or e-mail [email protected]. March 31st, 3 5 p.m. w Cash Flow Analysis, Laurie Boisclair, Accounts Receivable Solutions. w Building Trust thru Rapport, Marilyn Schott, Marilyn Schott & Associates. ( Kris Gentry, 891-8833. Publisher ................................................... John P. Williams Jr. Vice President-Marketing/Membership .... Roger Ruhl Advertising Chamber members can underwrite an issue of ChamberVision and reach more than 9,000 leaders in the Greater Cincinnati business community. For costs and ad specifics, call 579-3155. Subscriptions ChamberVision is mailed to Chamber members as a benefit of membership. Additional subscriptions are available to Chamber members at $10 per year. Non-member subscriptions are $30 per year; non-profit organizations, $22.50. For information, call Tracey Moore, 579-3145. © 1999 Greater Cincinnati Chamber of Commerce Networking events reach full bloom in spring Forum features Taft The Chamber will offer a special Government Forum on March 19 when it welcomes the 67th Governor of the State of Ohio, Bob Taft, at the Taft Ballroom at The Westin Hotel. The Government Forum will feature lunch, a talk by Gov. Taft and a questionand-answer session. This is a rare opportunity to participate in an informal conference with Gov. Taft, the first governor from our region since 1974. Space is limited. Date: March 19, noon-1:30 p.m. Cost: $25; no charge for Government Forum members. ( Debbie Lahmann, 579-3162. Spotlight on downtown Run with a vision The Cincinnati.com ChamberExpo 99 the Chambers multi-industry trade show will offer all the tools to get a business running full steam ahead at the Albert B. Sabin Cincinnati Convention Center on Wednesday, May 26, from 9 a.m.-5 p.m. Themed Running With The Driven to excellence Attendees at the March Breakfast Forum will be fueled up when the president of Clarke Detroit DieselAllison describes how his company powered its way to the top, earning industry acclaim and the Chambers 1998 Small Business of the Year Award. Mark Andreae, president of Clarke Detroit, will give insights into the companys quality- and customerfocused culture. Date: March 26, 7:15-9 a.m., The Cincinnati Club, 30 Garfield Place. Cost: $15 for members. ( Chenise Crump, 579-3166. For buyers and sellers The new Northern Kentucky Convention Center will be the site of the 1999 Greater Cincinnati/Northern Kentucky Buyer-Seller Conference on Tuesday, March 9, from 2 to 6 p.m. The event will feature buyers from 100 area businesses and government agencies. The conference also will offer six workshops on a variety of business topics, running from 2 to 4:45 p.m. Seating is limited. Date: March 9, 2 to 6 p.m. Cost: $40 in advance ( 578-8800. Taste of French Quarter Mardi Gras merriment will add seasonal spice to the March Networking Bizarre on March 11 at the Fairfield Banquet & Convention Center, 74 Donald Drive, Fairfield. Networking Bizarres are popular after-work get-togethers that allow professionals to make contacts. Date: March 11, 5:30-7:30 p.m. Cost: $9 for members. ( Kris Gentry, 891-8833. 6,800 contacts at your fingertips One of the most useful business resources of the year is hot off the press. The 1999 Greater Cincinnati Business Connections Directory is now available through the Chamber. Chamber member companies should have received their free copies. The directory contains complete listings for more than 6,800 area businesses and organizations, including all Chamber members. Listings include company addresses, telephone and fax numbers, key executives, number of employees, estimated annual sales range where available, and a business description. Other features: A new user-friendly Buyers Guide section, Standard Industrial Classification (SIC) codes, a community profile, and a variety of business and Chamber information. Copies are available while they last for $17.50 to Chamber members and $75 to others (plus tax where applicable). ( Heather Mills, 579-3181. ( Branch Office, 891-8833. 3 March 1999 The spotlight falls on the Downtown Awards Luncheon on Wednesday, March 3, at the Omni Netherland Hall of Mirrors. Maestro Erich Kunzel of the Cincinnati Pops Orchestra will keep the proceedings upbeat with a keynote delivery. Honors will be given in four categories: u Downtown Beautification Award: Keep Cincinnati Beautiful. u Downtown Community Service Award: Jeff Gibbs of the Findlay Market Opening Day Parade, and Ujima Cinci-Bration. u Downtown Achievement Award: David Klingshirn of the American Classical Music Hall of Fame. u Tiffany Award of Excellence: Dean Gregory of The Gregory Centre/ Montgomery Inn at the Boathouse. Date: March 3, 11:30 reception; noon lunch. Cost: $25 per person. ( Jill Pyles, 579-3192. Vision, the trade show will feature a keynote speech by former NFL running back and Vietnam veteran Rocky Bleier at the Small Business Annual Luncheon & Small Business Awards program. Other highlights: u Kickoff Breakfast from 7:30 to 9 a.m., featuring a panel of leading Cincinnati companies detailing their best business practices. u Trade show opens at 9 a.m. u The Cincinnati Enquirers Doing Business on the Internet seminar from 10 to 10:45 a.m. u Small Business Annual Luncheon & Small Business Awards program, noon to 2 p.m. u Six seminars throughout the afternoon, from 2:30 to 4:15 p.m. u ChamberExpo Bash, featuring live swing music, 4:30 to 5:30 p.m. To exhibit your business product or service to hundreds of shoppers, limited booth space is still available. Exhibitors get exposure to a full day of hot prospects, plus a free workshop on exhibiting tips, 50 free passes and discounts on luncheon tickets. Member exhibitor cost is $375 for a 10 x 8 booth. ( For booth space, call Kris Gentry, 891-8833 For complimentary tickets, call Chenise Crump, 579-3166. Export training boosts local economy Continued from page 1 4 Bell manufactures and imports furniture to resell, and the biannual High Point show is a key to its business. A lot of people who came to our booth wanted to buy internationally, Bell recalls, but we never really focused attention on them because it wasnt anybodys job. Wed write an order and then try to figure how to ship to somewhere like Saudi Arabia. Nobody had any idea how to do it. Recognizing the potential, Andy started to devote more time to foreign buyers in 1997, assuming responsibility for international sales. At High Point that year, he met with about 40 international accounts, establishing relationships and generating $500,000 in international sales. One year later, sales rocketed to $2 million. A big challenge was still the logistics of getting product to the customer, said Bell. Its a different transaction than selling here in the U.S.different payment systems, communication, even some of the specifications. It can look very complicated. About four years ago, Andy Bell started getting mailings about Chamber courses on international trade. I said, Hey, this would be a great way to get educated, Bell remembers. By attending various Chamber-sponsored luncheons and programs, he began crossing paths with representatives from the U.S. Department of Commerce, as well as bankers, accountants, shippers and businesspeople involved in international commerce. Throughout its history, Bell Furniture has been receptive to opportunities for growth. Founded as a sole proprietorship by Philip M. Bell in 1966, the business was incorporated in 1970 and grew steadily. Bell became partners with four American furniture companies in 1997 and 1998. Export sales are a natural extension of sustaining our growth, said Holmes, president of Bell Furniture. I expect export sales to easily double or triple over the next five years. In a short time, the company has established distributors in Australia and the U.K., and an agent in the Middle East. Its products are now sold in 19 countries around the world, including China. Andy Bell attended the January luncheon for the Chinese ambassador and he recognizes such programs as excellent opportunities to network. At a recent international trade event sponsored by the Chamber, Andy met a fellow exporter who told him about a web site sponsored by the State of Ohio that lists exporting opportunities, providing a new source of leads for Bell. Anything the Chamber does with international business, youll usually find us there to meet others and to gain knowledge, Bell said. The Chamber does a great job of simplifying the complexities of exporting. Andy Bell now shares his exporting and importing expertise as a member of the Chambers International Trade Assistance Center (ITAC) program. ITAC is a free service for Chamber members that provides one-on-one counseling for developing and expanding international markets. The local international market is further strengthened by a world that has become more accessible. The Cincinnati/Northern Kentucky International Airport was recently named the best airport in North and South America, said Deltas Dave Anderson. Obviously, were pleased with that, but more importantly, it means greater convenience for people doing business anywhere around the world. Technology has also been a boon for todays exporters. E-mail and fax machines allow for communication across many time zones. NAFTA and other agreements have eliminated barriers to trade. If a business isnt involved in exporting, they should be considering it. Andy Bell agrees. Theres the notion that you have to be a big company to export. Thats just not true. There are many international banks and financial institutions here in Greater Cincinnati who can provide assistance. The Chamber, the U.S. Department of Commerce, and the international airport offer a wealth of resources. For Tom Holmes, exporting is more than an untapped market; he sees it as a future necessity: I think too many American companies are overlooking international business. Its a global market now. If you dont go global, youre missing out. If you have questions about exporting or the Chambers international trade courses, call Rene Thomas, 579-3122. WRC has solutions Here is some helpful news as you continue your search for new and innovative strategies to attract and retain employees. WRC The Work Resource Center offers job-retention services on-site to entry-level employees and supervisors. Additional services are available to a company at no cost if at least one WRC participant is employed by the company. Resources include custom workshops and seminars addressing such issues as attendance, professional work ethics, positive work behaviors, problem-solving around personal issues, and counseling concerning child care and transportation. WRC also offers on- and offsite computer classes and GED preparation to assist in retention and upward mobility. The success of individuals who participate in the job retention services is outstanding. Results show that 84% are still working after one year. WRC also offers the following employer services: uRecruitment and job placement. uTurnover reduction. uOutsourcing and contracting. Established in 1972, WRC is a nonprofit business with the mission of connecting people with disabilities and disadvantages to the workforce. WRC assists over 15,000 individuals each year. For more information, contact Debbie Smith, WRC director of employer services, at 281-2316, ext. 116. Employment Transportation CPI Cost of Living Earnings % Monthly economic indicators for the Greater Cincinnati Metropolitan Area are available on the Chambers Web site (www.gccc.com), or by calling the Business Information Center, 579-3181. March offers lions share of business savvy Chamber educational programs and seminars are set for spring Exporting ins-and-outs The Chamber will offer the howtos of the export process during two half-day seminars March 10 and 11 at the Chamber. Export Letters of Credit and Drafts will run Wednesday and Thursday, March 10 and 11, from 8 a.m. to noon both days. The course will be held at the Chambers main office, 300 Carew Tower, 441 Vine St., downtown. The course helps businesspeople understand the types and uses of letters of credit and drafts, how to instruct buyers in opening a letter of credit, the structure of a letter of credit, dealing with nonpayment of the letter of credit, and preparation and presentation to the bank. Cost: $225 for members. ( Karol Tuke, 579-3175. Strategic shopping Fear numbers no more Not everybody has the aptitude to be an accountant, but almost everybody needs a working knowledge of finance to succeed in the business world. On Thursday, March 18, the Chamber will offer Finance for NonFinancial Managers, a full-day seminar that will increase number-crunching skills and confidence in dealing with money matters. The seminar will be conducted by NAFTA step-by-step Exporters and importers alike will be interested in the Chambers complete NAFTA training seminar on Wednesday, March 24, at the Chamber. Beverly J. Nichols leads participants through a practical, 10-step approach and offers clear explanations of NAFTA specifics, rules applications and the NAFTA Certificate of Origin. The workshop is designed for people who manage and/or implement NAFTA control operations within the exporting or importing company, and for others who work with the administration of NAFTA-related operations. Date: March 24, 8 a.m.-4:30 p.m. Cost: $225 for members. ( Karol Tuke, 579-3175. How to hire Employees are a companys No. 1 asset. On Thursday, March 25, the Chamber will conduct a seminar Creative Workforce Planning: Interviews, Recruiting and Retaining that offer ways to attract, hire and keep the best candidates. The half-day seminar will be led by Debra Sharkey, executive vice president of Human Resources Solutions, a division of CBS Personnel Services, who has 20 years of experience as a human resources practitioner. Date: March 25, 8 a.m.-noon., at SportsPlus in Evendale Cost: $60 for members. ( Chenise Crump, 579-3166. Calling project leaders There are two ways work gets done within organizations: through repetitive processes or through projects. Projects include critical tasks or strategic planning, new product development, marketing initiatives and updating information systems. On Thursday, April 29, the Chamber will offer a full-day seminar on Creating Successful Projects: Getting Started in Project Management. The seminar will be led by Karen Tate, president of Martin Tate and coauthor of The Project Management Memory Jogger. Seminar topics: u The purpose/activities of the four project phases. u The basic components of a project charter. u How to create an effective plan. u How to track progress. u How to manage change. Date: April 29, 8 a.m.-5 p.m., at SportsPlus in Evendale Cost: $165 for members. ( Chenise Crump, 579-3166. Riding the FastTrac The fastest way to entrepreneurial business success may be the Chambers offering of FastTrac Take Charge of Your Business. The Chamber will offer an executive preview of this internationally recognized program on Thursday, June 10, at the TriHealth Fitness and Health Pavilion, 6200 Pfeiffer Road in Blue Ash. FastTrac is the Chamber program for entrepreneurs who want to maximize their business and their potential. This 11-week program features guest speakers. The program leader is Mark Sauter, director of regional services for the Institute of Advanced Manufacturing Sciences Inc. Executive Preview: June 10, 8-9 a.m. ( David Owens, 579-3149. 5 March 1999 The Chamber will offer an Executive Preview of its Strategic Eight planning program on March 11. Strategic Eight is a team-based management planning process designed to point companies toward increased profitability. Participants in the program spend a total of five days creating an actual, customized strategic plan for their businesses. The 200-plus graduates of the process have experienced average sales increases of 19% and average profit increases of 34% in the year following their participation. While preview sessions are free, reservations must be made in advance. Space is limited. Date: Mar. 11, 7:30-9 a.m., at TriHealth Fitness & Health Pavilion. ( David Owens, 579-3149. Chris Waddell, president of Chris Wadell Inc., and will be held at Sports Plus, 10765 Reading Road, Evendale. Date: March 18, 8:15 a.m.-4:45 p.m. Cost: $165 for members. ( Chenise Crump, 579-3166. Bottom Line Benefits: cut costs on business must-haves Looking to cut costs? Chamber members can save a bundle on business essentials. ChamberTech price drop 6 Nows a great time to buy technology systems for your business. The Chamber and its ChamberTech partners, Hewlett-Packard and Micro Center, have teamed up to increase discounts on the most-needed technology equipment. The new ChamberTech savings range from 3-15% on computer hardware and accessories, nearly doubling the previous top discount of 8%. These are the kinds of reduced prices large corporations are able to negotiate because they buy in quantity, said Greg Buscher, member benefits manager at the Chamber. We worked with Micro Center and Hewlett-Packard so that every Chamber member can enjoy these price advantages, regardless of size. The discounts are also available to member company employees for their personal use. Todays businesses really rely on their computer systems, said Keith Feike, general manager of Micro Center Business Sales. That makes Hewlett-Packard an excellent choice. Industry analysts, the media and consumers consistently rank HPs products among the best. In 1998, HP received a record number of awards, including three Best of the Best honors from Windows magazine. Chamber members also save 10% on computer training through Micro Center. Classes are available for the most-popular word processing, spreadsheet, database, accounting and finance, desktop publishing and graphics software. There are also courses about the Internet and operating systems/environments for DOS, Windows and Macintosh. In addition, quarterly ChamberTech forums on special technology topics are free to Chamber members. Youll find upcoming forums listed in ChamberVisions Education & Training calendar. Micro Center is located off I-275 at 11755 Mosteller Road in Sharonville. For more information, call the ChamberTech hotline, (800) 490-5539, the Chamber, 579-3189, or visit these web sites: uwww.gccc.com (the Chamber) uwww.microcenter.com (Micro Center) uwww.hp.com/go/smallbiz (Hewlett-Packard). ChamberHealth features open access According to the management consulting firm William M. Mercer Inc., the average health benefit cost for Greater Cincinnati is $3,676 per employee, making health benefits a big budget item. Through ChamberHealth, you can enjoy savings of approximately 3%, a yearly savings that far exceeds Chamber dues for many companies. But more than just saving money, ChamberHealth also gives you and your employees excellent coverage through two exceptional insurers: United HealthCare and the recently merged ChoiceCare/Humana. Both plans offer open access to medical specialists, a feature that is popular with current ChamberHealth enrollees. Companies like having a health care program that provides open access for their employees, said Andy Linnemann, Vice President of Cornerstone Broker Insurance Services in Cincinnati. Individuals dont have to contact their primary physician just to get a referral to a specialist. That saves them time and hassleand thats something everybody appreciates. ChamberHealth, through United HealthCare, is currently available for Ohio and Indiana companies with 2-49 employees. United HealthCare is Ohios largest managed care company. The ChoiceCare/Humana HMO/PPO network, available for Ohio companies only, includes more than 3,300 area physicians, over 400 pharmacies and 26 hospitals. ChamberHealth participants currently enrolled in the ChoiceCare plan will have the option of staying with their current plan or switching to the ChoiceCare/Humana product line on their plans renewal date. As an additional benefit, life insurance is packaged with medical at a discounted rate: Other products include short term disability and dental coverage. To find out which ChamberHealth plan best fits your companys needs, contact your insurance broker, check out the list of brokers on the Chambers web site (www.gccc.com) or call the Chamber. ( Member Benefits, 579-3189. New ChamberDental makes you smile ChamberDental provider United Dental Care is now a part of Protective Life Insurance, and the result is increased freedom of choice for Chamber members. In addition to the current dental HMO, Protective DentalCare offers an indemnity plan and a discounted procedures program, rounding out services for every budget and every size business. With the new Protective DentalCare indemnity plan, employees can choose from any area dentist. This flexible plan is available for Chamber member companies with more than 10 employees. The United Dental Care HMO has an expanded list of dentists and is available for groups of any size, making it ideal for smaller businesses and sole proprietorships. Advantage Discount, the most budget-conscious of the plans, offers discounts on specific procedures, such as fillings, crowns and orthodontia through a network of providers. This plan, available for member businesses with as few as one employee, can serve as a standalone program or can be used in conjunction with the indemnity or HMO plan. ChamberDental is available in Ohio, Kentucky and Indiana. For more information on ChamberDental plans, call your insurance broker or the Chamber. ( Member Benefits, 579-3189. CMSDC recognizes Childrens Hospital, MBEs The Cincinnati Minority Supplier Development Council Inc. presented the Corporation of the Year Award to Childrens Hospital Medical Center at its Annual Awards Banquet Wednesday, Feb. 3, at the Hyatt Regency Cincinnati. CMSDC also honored two Minority Business Enterprises (MBEs) for their excellence and growth in doing business with major corporations: Kizen, Inc. an interior design firm; and MYCOM Enterprises, a technology, information management, marketing and communications firm. Both companies received MBE of the Year Awards. The Cincinnati Minority Supplier Development Council, Inc. (CMSDC) is an affiliate of the Greater Cincinnati Chamber of Commerce and the National Minority Supplier Development Council Inc. The keynote speaker for the event was Dr. Therman Evans, the former vice president and corporate medical director of the CIGNA Corporation. His articles have appeared in the Journal of the American Medical Association, The Los Angeles Times, and Ebony. He was engaging, charismatic and humorous, said Arlene Taylor, president of CMSDC. He challenged people to be comfortable with the uncomfortable in terms of working with different people, different companies, different organizations. The CMSDC Banquet brought together Cincinnati Vice Mayor Minette Cooper with Emory Livers of Childrens Hospital Medical Center and keynote speaker Dr. Therman Evans. The CMSDC banquet attracted 500 business and community leaders. For information, call CMSDC at 579-3104. Americas top idea man to coach businesses 5 p.m. at the state-of-the-art complex. u Borrowing Brilliance: How The special member price, for compato leverage the Eight Great nies with 300 employees or less, is principles from the top 2% of new $2,000 for up to two employees. products and services. Sessions with Jeff Stamp, the Winning Ways Taking a raw inventor of Baked Lays, will be held idea and strategically packaging April 13, April 23, and April 28 and will and positioning it for maximum cost $1,000 for up to two employees. sales success. The program In addition, private training sessions leverages the worlds most with Eureka!Ranch staff members can be intensive research study on arranged at special member prices 50% customer buying behavior. This off the normal cost. program teaches the practical and For more information about the tactical value of strategic sales and Eureka!Bootcamp program offered marketing positioning. through the Greater Cincinnati Chamber u Marketing Physics: The of Commerce, call David Owens at three strategic laws that maximize 579-3149. your chances of sales success. u Benefit Focus: The impact of having one, two, three or more rational and/or emotional benefits. u Credibility: How to maximize customer trust in your benefit claims. u Gut Instincts: Learn a step-by-step process for enhancing your natural selling instincts. This program carries a 100% money-back guarantee. Full-day sessions will be held at Eureka!Ranch in Newtown. Participants can choose from two instructors and two price levels: Eureka!Ranch founder Doug Hall has been Doug Hall sessions are hailed as Americas top idea man by held March 15, May 6 and June Inc. Magazine. 14. Sessions run from 8 a.m. to 7 March 1999 discount, we feel quite confident Doug Halls Eureka!Bootcamp sessions will inspire many of our members to achieve successes they have yet to dream about. Hall is author of Jump Start Your Brain and The Maverick Mindset, and has been hailed by Inc. Magazine as Americas Top New-Product Idea Man. He is regarded as an expert at teaching a proven brand of innovation called Capitalist Creativity. Among clients applying Halls principles: American Express, AT&T, Compaq, John Hancock, Hillenbrand Industries, Johnson & Johnson, Mattel, Nike and Walt Disney. Eureka!Bootcamp training provides step-by-step methods for improving a companys innovation and selling skills. Its purpose is to invent bold, brave, new-to-the-world ideas. Curriculum features two components: Jump Start Your Brain Firing up your brain with the power to invent big ideas. Youll learn what it feels like to have our brain fully engaged with industrial strength creativity. u Stimulus Response: A process that research shows can increase everyones creativity some 500%. u B.O.S. Profiler: A method for identifying and leveraging your personal thinking style. u Battling Fear of Change: Learn a collection of real world principles and techniques for opening up the most stubborn of constipated realists. How to information for small-business people, from small-business people Recent tax changes rated favorable for family business, home offices 8 By Crystal L. Faulkner, CPA One of the biggest challenges facing business owners is staying on top of the numerous tax changes that could affect your business. Recent tax legislation is full of favorable changes for family business owners. Many of these changes became effective in 1998. Business owners should also plan for 1999 tax changes as well. A significant taxpayer-friendly change relating to a home office will take effect this year. The rules for deducting home office expenses have been liberalized beginning in 1999. A home office will qualify as the principal place of business if the office is used by the taxpayer to conduct administrative or management activities for the business and there is no other fixed location where the taxpayer conducts those activities. The home office must be used regularly and exclusively. That means no personal use. The deduction for health insurance premiums for the selfemployed has increased to 45 percent for 1998 and 1999 and will gradually increase to 100 percent by 2007. This provision also will have a positive impact for S Corporation shareholders, limited-liability company members and partners in partnerships. If you are an investor in a corporation that meets the definition of a qualified small business and you decide to sell your stock, you may be able to defer the tax on your gain. In order to qualify for the tax deferral, you must roll over the proceeds into the stock of another qualified small business. If you have 100 employees or less, you may want to set up a Savings Incentive Match Plan for Employees (SIMPLE) retirement plan. The employee may contribute up to $6,000 per year. The employer is required to make matching contributions. Consider establishing an Employee Stock Ownership Plan (ESOP) especially if your business is an S Corporation. An ESOP is a qualified retirement plan that can be a very useful tool in tax planning. A major benefit of using an ESOP as an owner of S Corporation stock is that the portion of the company owned by the ESOP completely escapes current federal and state income tax. The rules related to an ESOP can be tricky, so you should consult a specialist in this area to learn about additional benefits. If youre an Ohio manufacturer and have purchased a significant amount of equipment in 1998 or plan major acquisitions in 1999, be sure to determine whether or not you qualify for the Ohio tax credit. Beginning in 1998, a new estate tax exclusion becomes available for certain closely-held and family owned businesses. When combined with the increased unified credit, these busi- nesses will have an exclusion of up to $1.3 million. For the first time, the standard mileage rate for business use of a personal automobile will decline in 1999. The new rate will be 31 cents per mile in 1999 (down from 32.5 cents in 1998). The change will become effective April 1, 1999. If you establish a C Corporation, dont automatically elect a December year-end. Determine if another yearend minimizes your taxes. Use a tax free exchange to defer gain on business or investment property. Consider putting your children on the payroll if they perform services for your company. If your business manufactures items for export, consider a foreign sales corporation (FSC) to generate significant tax benefits. Although engaging a good tax professional may provide invaluable help in assisting you to decipher tax changes, possessing a general working knowledge will benefit you and your company. Crystal Faulkner is a tax principal with Rippe & Kingston, specializing in tax planning and consulting with businesses. More than just tax preparation: A roadmap to selecting a CPA announcements by various governmental agencies. Failure to file reports and pay taxes on time will subject the business to penalties and interest charges. Federal, state and local governments require that records be kept for the purpose of reporting and paying income, payroll and sales taxes. Banks, suppliers or anyone else extending credit will be interested in the condition of the business records. Good record-keeping practices are easier and less expensive if diligently practiced from day one. Strategic Planning. How will you know where you want to go with your business if you dont know where youve been? And why is planning so important? Because it is your roadmap what you want your business to look like next year, and five years from now, and the courses of action you will take to get there. Evaluating. How well are you doing compared to other comparable businesses? How well is your business doing compared to budget? The answers to these, and many other questions, can have a tangible impact on your business in terms of lower (or higher!) interest rates, favorable credit terms, lower payroll tax rates for unemployment, etc. Analyzing. Will a new product/ service be profitable? Is there sufficient cash flow expansion? How dependent is the business on any one customer? How profitable is each product or service? What is your business break even point? Finally, what can you expect from your CPA? There are five key factors that contribute to your business success, and these are the things your CPA should do for you: 1. Identify potential problems and opportunities in your overall operations far enough in advance to allow for sound strategic and operational plans to be structured and implemented to positively impact profits and expense control. 2. Add relevance and analysis to financial information in your financial statements. 3. Help you focus on performance. 4. Reduce your tax burden. 5. Maximize your net worth. How do you evaluate your CPA? Probably the single most important component in your relationship is communication. If you cant talk to your CPA or dont understand what he or she is saying to you, the effectiveness and efficiency of your interaction is questionable. A CPA can get you on the right road to a sound business. Successful entrepreneurs have a secret weapon their competitors can only dream about: an outside accountant who works just as hard on their new business ideas as he or she does on their quarterly financial reports. Selecting an accountant is one of your most crucial decisions. Most important is choosing a professional who is willing to go the extra mile. A good CPA is not a part-time manager, but a full-time advisor. Joyce Gundling is president of Gundling & Company CPA. She has 10-plus years of public accounting experience, specializing in tax preparation, compliance and planning. ConCISE is presented by the Chamber Institute for Small Enterprise 9 March 1999 By Joyce Gundling, To many people, a CPA is synonymous with paying taxes and tax preparation. However, for small business owners, a CPA is much more. One of the reasons small businesses fail is because the business owner didnt seek professional advice. Most people would not start a road trip across the United States without some detailed preparation. The car would be checked out and probably tuned up, a road atlas would be consulted to plan the route, and a budget for gas, food and lodging would be estimated. This same analogy can be applied to seeking professional assistance from CPA or other professional advisor. Unfortunately, many budding entrepreneurs eagerly begin their new business without consulting a professional advisor. As an independent businessperson, your first priority is to produce and market your product or service to the best of your abilities. When you attempt to be all things to all people, it is doubtful youll have the time, energy, or expertise to attend to financial details that are an integral part of your companys success or failure. If you make informed choices at the beginning of your business, you will save time and money should an IRS audit occur in the future. Accounting has been called the language of business. As an auditor, tax advisor, educator, or management consultant, CPAs have a responsibility to clients, colleagues and the public, including investors, consumers and creditors. For the independent businessperson, the CPA is an important source of advice and assistance for monitoring the business health and maximizing its potential in the global environment. After you have chosen a CPA, it is time to take stock of the business at hand. There are four important things a CPA will review and help you with. Record-keeping Keeping adequate records is important for many reasons: Without a record-keeping system, you would become snowed under by reports, regulations, and New Members These companies joined the Chamber in January, 1999 A.B.T. Solutions Mickey Clogher, Chief Executive Officer 10921 Reed Hartman Highway, Suite 301 Cincinnati, OH 45242 (513) 984-5432 Sales/sales management training A-Discount Auto Leasing Lawrence Koesters, President 9675 Cincinnati-Columbus Road Cincinnati, OH 45241 (513) 759-6789 Auto leasing A-One Carpentry Specialist Jeff Atwell, Owner 5114 Dry Run Milford, OH 45150 (513) 965-0411 Carpentry Adherence Jack Justice, President P.O. Box 42407 Cincinnati, OH 45242-0407 (513) 794-1642 Educational consultation (medical-compliance issues) Adkins Construction Company Gregory Adkins, Sole Proprietor 8426 Ora Lane Middletown, OH 45042 (513) 423-0837 New home construction Advanced Electric Service Robert Dickhaus, President 9066 Sutton Place Hamilton, OH 45011-9315 (513) 860-2235 Electrical contracting residential, commercial, industrial Advanced Handling Systems Inc. Charles Frank Sr., President 4861 Duck Creek Road Cincinnati, OH 45227 (513) 351-6500 Systems integrator Chamber partnerships increases strength for members the tremendous variety of programs and services offered by a large chamber. The Greater Cincinnati Chamber has a regional focus, so reaching out to businesses in the respective Chamber areas makes sense for us, says John F. Barrett, president and CEO of the Western-Southern Life Insurance Co. and 1999 chairman of the Greater Cincinnati Chamber of Commerce. We can make the many benefits of Greater Cincinnati membership available to them, and their participation means stronger programs for all our members including ChamberHealth Judy Clark, Director of the Branch discusses and Workers Comp Group the Partnership with (seated from left) Carla Rating programs, networkKeldie, President, Sharonville Chamber; Mary ing opportunities and Ann Partin, Chief Operating Officer, Milford business information. Chamber; and Nancy Niemeyer, President, For members of the Forest Park Chamber. partner chambers, the arrangements offers a Sharonville, Springdale and Milford choice of two dues-level options: chambers to increase value to members 1) Companies can remain at their while offering benefits to more area current partner chamber dues level and businesses. Were focusing on a spirit of cooperation, says Chamber Branch Director Judy Clark. We have found Beverly Hardy has been named the Greater Cincinnati Chamber and the director of Youth Employment Services partnership chambers each have at the Chamber. something to offer the other one. Hardy has been with the The program is designed to Chamber for five years, first as promote economic development, an employment specialist, then as strengthen the organizations and reduce manager of recruitment and employduplication of overlapping services. ment for YES. The partnership allows both Before coming to the Chamber, chambers to join forces to deliver more Hardy served as a placement value to their members, and yet remain representative with Olsten Staffing completely autonomous, says Nancy Services, training supervisor for M. Niemeyer, president of the Forest Burke Marketing Research and Park Chamber of Commerce. It program coordinator for Straight provides businesses with the best of Inc. Hardy attended the University both worlds the local community of Cincinnati. focus that a small chamber offers, plus Strength in numbers thats the philosophy of the Greater Cincinnati Chamber of Commerce as it partners with other regional chambers to service more members. In recent months, the Chamber has partnered with the Forest Park, receive certain benefits of the Greater Cincinnati Chamber access to the Business Assistance Center and Business Information Center, publications such as the monthly newsletter ChamberVision and the annual Greater Cincinnati Business Connections directory, and member rates at certain events. 2) Companies can pay the difference between their current partner chamber dues and the appropriate Greater Cincinnati Chamber dues level to access member rates for all programs and services, as well as participate in the Greater Cincinnati Chambers range of volume-discount programs, such as ChamberHealth, ChamberTech, Workers Compensation Group Rating, and wireless, cellular and long-distance savings plans. Current members of the Greater Cincinnati Chamber headquartered in the partner chamber area become members of the partner chamber at no additional cost. For more information, call the Greater Cincinnati Chamber of Commerce at 579-3189. Hardy named director of YES 10 Hardy lives in Kennedy Heights with her husband James, son Brian and daughter Rachael. YES is a private, not-for-profit Hardy enterprise that receives no Chamber contributions or public subsidies. The current YES fund drive has a goal of $131,000, which will provide training and employment opportunities for more than 1,000 young people, ages 16-21. For more information, call the YES office at 579-3113. Advanced Rigging & Erecting Lonnie Person, President 115 Hosea Avenue Cincinnati, OH 45215 (513) 761-1400 Construction Buckley Manufacturing Co. Mary Reardon, President 148 Caldwell Drive Cincinnati, OH 45216 (513)821-4444 Automobile fuel tanks, sheet metal fabricators Cincinnati Commercial Glass Inc. Tim Gaggin, President 632 Mount Moriah Drive Cincinnati, OH 45245 (513) 752-9365 Glazing contractor Applause! Magazine Sallie Elliot 7710 Reading Road, Suite 108 Cincinnati, OH 45237-2809 (513)761-6900 Publisher CBX Enterprises Inc. Charles Harris, President 11305 Reed Hartman Highway, Suite 110 Cincinnati, OH 45241-2485 (513) 489-7787 Employment services, flexible staffing, facilities staffing, temp-to-hire staffing, leasing Cincinnati Country Club Robert Snider, Controller 2348 Grandin Road Cincinnati, OH 45208-3310 (513) 533-5200 Private country club Arbor Design Scott Boyles, Owner 11820 Hamilton Avenue Cincinnati, OH 45231 Tree service and landscaping. B & B Manufacturing Co. David Kohler, Vice President/ Owner 11248 Grooms Road Cincinnati, OH 45242 (513) 489-7155 Manufacturing B & B Tire Town Inc. William Hanseman, President 4275 Spring Grove Avenue Cincinnati, OH 45223 (513) 541-1300 Tire sales/auto repair B & S Painting Warren Brinkman, Owner 456 Batavia Pike Cincinnati, OH 45244 (513) 528-1705 Painting Bag-Pack Inc. Steven Dreyer, President 11445 Century Circle West Cincinnati, OH 45246-3303 (513) 346-3900 Manufacturer of flexible packaging Bell Burial Vault Co. Brian Bell, Owner 804 Belle Avenue Hamilton, OH 45015 (513) 896-9044 Concrete burial products Benihana of Tokyo Saridech Bhasavanich, Manager 50 Tri-County Parkway Cincinnati, OH 45246 (513) 772-4800 Restaurant Blashock Plumbing Inc. Tim Blashock, President 6846 Michael Road Middletown, OH 45042 (513) 424-8444 Plumbing - commercial/ residential Mark Bruemmer Inc. Mark Bruemmer, President 7891 Woodstone Drive Cincinnati, OH 45244 (513) 474-2026 Professional search and placement Caruso Inc. James Caruso, Chief Executive Officer 4621 Interstate Drive Cincinnati, OH 45246-1109 (513) 860-9200 Produce Central Light John Bruening, President 544 West Liberty Street Cincinnati, OH 45214-2631 (513) 621-6763 Lighting distributor commerical and residential Grant G. McCauley Inc. dba Charmac Grant McCauley, President/ Owner 11798 Hamilton Avenue Cincinnati, OH 45231 (513) 851-5791 Service - retail Chilis Grill & Bar Tom Rasper, General Manager 11329 Montgomery Road Cincinnati, OH 45249 (513) 469-9888 Restaurant Churchills Patio & Home Furniture Mark Hicks, President/Owner 10660 Reading Road Cincinnati, OH 45241-2527 (513) 563-1993 Retail The Closet Factory Vincent Giovannie, Chief Executive Officer 257 Northland Boulevard Cincinnati, OH 45246 (513) 771-9704 Manufacturer of custom closet, storage and office systems Complere Engineering Group Ernest Baker, Operations/ Engineering Director 1253 Kemper Meadow Drive, Suite 350 Cincinnati, OH 45240 (513) 674-0073 Engineering consulting Conklin Construction John Conklin 443 Wilke Drive Cincinnati, OH 45238 (513) 251-4422 Construction Corson Packaging of Ohio Jim Curtis, Senior Vice President Sales/Marketing 300 South Verity Parkway Middletown, OH 45042 (513) 422-5434 Manufacture folding cartons Covedale Pet Hospital Inc. Earl Neltner DVM, President 4503-1/2 West Eighth Street Cincinnati, OH 45238 (513) 251-4666 Veterinary hospital Dale & Carol Lea dba D & C Enterprises Dale Lea, Owner 2865 State Route 133 Bethel, OH 45106 (606) 234-8815 Long distance trucking Delta Partners Richard Kranzley, Presidnet 3402 Cumberland Drive Bright, IN 47025 (812) 637-2491 Peak performance coaching Companies and organizations listed on these two pages have recently made an important investment in their businesses by joining the Chamber. We thank them, and hope you will consider them for your professional and personal needs. Discount Glass Shop Betsy Banks, General Manager 104 Crawford Street Middletown, OH 45044 (513) 424-2512 Commercial, residential, automotive glass and glazing and services Fernside Center for Grieving Children Sheila Stebbins 2303 Indian Mound Avenue Cincinnati, OH 45212 (513)841-1012 Non-profit DocuStar Jay Brokamp, President 10710 McSwain Drive Cincinnati, OH 45241 (513) 733-0700 Printing Flege Fire Protection Inc. Greg Flege, President 909 Second Street Cincinnati, OH 45215 (513) 563-8802 Sprinkler installers Downtown Auto Parts Ltd. Roger Schweder, Parnter 2100 Losantiville Avenue Cincinnati, OH 45237 (513) 531-9800 Used auto parts Forest Hills Country Club Jerry Frechette, President 791 Fourth Avenue Middletown, OH 45042 (513) 422-8917 Private country club with golf course, swimming pool, clubhouse, tennis court and restaurant EFS National Bank Timothy Dunn, Senior Account Executive 3121 Park Church Lane, Suite 184 Louisville, KY 40220 (502) 459-8362 Discounted %s and equipment for processing Visa/MasterCard, AMex, Discover and check authorization Engineered Environments Jerry Solomon, Owner/ President 4043 McMann Road Cincinnati, OH 45245 (513) 943-7880 Famous Recipe of Cincinnati Inc. Thomas Cummins, President 3535 Round Bottom Road Cincinnati, OH 45244-3025 (513) 272-4100 Fried chicken and catering GRK Manufacturing Gary Kilday, President 1200 Dayton Street Hamilton, OH 45011-4220 (513) 863-3131 Piano benches, music furniture, hardwood gifts Ginter Construction Inc. Mark Ginter, President 5566 Childs Avenue Cincinnati, OH 45248 (513) 574-6382 New home building and excavation Global Industries Tri-State Bob Kohls, Vice President 6187 Schumacher Park Drive West Chester, OH 45069 (513) 777-0009 Office furniture manufacturer Green Scheme Inc. Gary Dopp, Owner 4541 Dameron Lane Cincinnati, OH 45244 (513) 528-1251 Landscaping The January Breakfast Forum at the Sharonville Convention Center gave Stuart Tobin, left, an attorney at law with Immerman & Tobin LPA, an opportunity to chat with Lou Ortiz, director of marketing for Reuben H. Donnelley. Lynn McInturf presented networking strategies during the program. The next Breakfast Forum is slated for Friday, March 26, at The Cincinnati Club, where Mark Andreae, president of Clark Detroit DieselAllison, will speak on his companys winning culture. 11 March 1999 Bruce Berryman Brick & Block Bruce Berryman 348 Gates Road Hamilton, OH 45013 (513) 756-9505 Brick, masonry C E S Inc. Harold Demoen, President 8711 Reading Road Cincinnati, OH 45215 Cryogenic freezing equipment Classic Kitchen Design of Cincinnati Inc. David Rohr, President 5702 Cheviot Road Cincinnati, OH 45247 (513) 741-0555 Kitchen remodeling Davis Electronics Inc. Joseph Davis, President 217 Main Street Milford, OH 45150 (513) 831-6425 Electronics - retail Now theres another benefit to your membership: Special discounts on AT&T services. The Chamber is always looking for ways to do more for you. And now it is enrolled in the AT&T Profit By AssociationSM Program saving you time and money just for being a member. As part of this program, you will not only enjoy significant discounts, but you can also conveniently consolidate your qualified AT&T business calls from all your locations into one monthly bill. Your member discount applies to qualified business calls on your AT&T Business Long Distance Service, AT&T International Long Distance Service, AT&T Toll Free Service, AT&T Corporate Calling Card, and AT&T Local Toll Service (where available).* Also, AT&T guarantees long distance network reliability and on-time installation.** Dont wait another minute. To find out more about what the AT&T Profit By Association Program can do for your business, call: 513-841-0120 Or, visit our Web site at: http://pba.att.com/info/abcorg * Local toll calls are those calls outside your local calling area, but not long distance. They are usually itemized on the local phone company portion of your monthly bill. ** Reliability guarantee offers credit of $10, $50, or $300 per event, annual limit $30 to $900, depending on service plan. Limitations and exclusions apply. Call for details. Greater Cincinnati Chamber of Commerce 300 Carew Tower 441 Vine Street Cincinnati, Ohio 45202-2812 Visit our Web site at www.gccc.com Route to: