• Link to Facebook
  • Link to Youtube
  • Link to X
  • Link to LinkedIn
  • Link to Flickr
  • Link to Slideshare
  • Link to Rss this site
  • Donate
  • Subscribe
SBDC Tampa Bay
  • Home
  • Solutions
    • Certifications
      • Business Certifications
      • Minority-Owned Business
      • Woman-Owned Business
      • Veteran-Owned Business
    • Consulting & Training
      • Training
      • Training Calendar
      • Consulting
      • Schedule a Consultant
      • Consultación
    • Business Solutions
      • Growth Acceleration
      • Government Contracting
      • International Trade
      • Starting Your Business
      • Disaster Preparedness
      • Student Teams
      • Financing Your Business
  • Resources
    • Business Resources
    • Frequently Asked Questions
  • Insights
    • Blog
    • Media Inquiries
  • About Us
    • Mission / Vision
    • Consultants
    • Meet the Staff
    • Meet Our Clients
    • Partners / Affiliates
  • Training
    • Training Calendar
    • On-Demand Training
  • Results
    • Success Stories
    • Economic Impact
  • Locations
    • Tampa
    • Hernando County
    • Highlands, Hardee, DeSoto
    • Hillsborough
    • Manatee
    • Pasco County
    • Pinellas County
    • Polk County
    • Sarasota
  • Contact
  • Request a Consultant
  • Click to open the search input field Click to open the search input field Search
  • Menu Menu

Archive for category: Business Essentials

Why Professional Development is Key to Small Business Success

Blog, Business Essentials, Business Plans

As a small business owner, you may wear many hats. These hats might include visionary, finance, marketing and sales, operations, and more. But throughout all of the day-to-day demands, how often do you take time to invest in yourself?

Professional development is essential for staying competitive and thriving in today’s fast-changing business environment. Whether it’s learning a new skill, gaining fresh insights, drawing inspiration, or building a network of like-minded individuals, the time you spend on professional growth directly impacts your business’s success.

Driving Change and Creating Opportunity

At the Florida SBDC, we know that as a small business owner, you’re not just running a business, you’re driving innovation, solving problems, and creating opportunities in your community. That’s why we have created the Small Business Success Summit – an annual opportunity for business owners to come together to invest in themselves, uninterrupted. We also know that stepping away from your business is tough. So why invest? 

Investing in professional development empowers you to:

  • Adapt to changes by staying informed on new trends and technologies.
  • Discover opportunities to innovate and grow your business.
  • Lead with confidence as you navigate challenges and shape your business’s future.
  • Make connections with other like-minded individuals and resource partners like the SBDC.

Let’s Connect

No small business succeeds in isolation. Building relationships with other business owners, mentors, and experts can inspire new ideas, spark collaboration, and even open new doors. 

Professional development events like the Small Business Success Summit are an incredible opportunity to:

  • Exchange insights and best practices with fellow entrepreneurs.
  • Learn from inspiring leaders and industry experts.
  • Build a network of connections that can fuel your growth.

Join Us and Invest In Yourself and your Business 

If you’re ready to harness The Power of Small Business and invest in your professional growth, join us at the 2025 Small Business Success Summit. The Summit will feature keynote speakers, breakout sessions and networking opportunities that allow small businesses to walk away with strategies and connections to help further their business.

Take the first step in driving change and creating opportunity—invest in yourself, and watch your business thrive!

The 2025 Small Business Success Summit will be held August 18-19 in Tampa at the Grand Hyatt Tampa Bay. Learn more about this year’s event and register at https://floridasbdc.org/success_summit/. 

https://enwqtxc9es4.exactdn.com/wp-content/uploads/2025/07/Why-Professional-Development-is-key-to-Small-Business-Success.jpg?strip=all&lossy=1&ssl=1 750 1420 sbdclarry /wp-content/uploads/2024/10/Locked-Host-Logos-Horizontal-USF-Small-e1728920602651.png sbdclarry2025-07-03 18:17:262025-07-03 18:17:28Why Professional Development is Key to Small Business Success

Points to Ponder Before Starting a Nonprofit

Blog, Business Essentials, Business Plans, Buying a Business

by Retta Parsons | September 4, 2024

The nonprofit industry contributed $1.5 trillion to the United States economy in the first quarter of 2023. It has been reported in the Independent Sector Report, that in the U.S., the nonprofit sector is the third largest private workforce. It is logical then, given its size and importance, that aspiring entrepreneurs seek information on how to form and open their own nonprofit organization. When thinking about creating a business under a nonprofit structure, there are several factors that should be researched and considered.

Nonprofit Organization Structural Items to Consider

  • The C structure: Once a 501c3 (or other “c” structure) is granted, the organization is not owned by the entrepreneur. By its nature, a nonprofit belongs to the community. The organization is governed by a Board of Directors that is comprised of, “a majority of members who are unrelated by blood, marriage, and outside business ownership”, as stated in the 5013c website. The Board of Directors has policymaking, fundraising, and CEO supervision responsibilities. As such, the CEO serves the Board. This means that if a Founder/CEO is let go, their relationship with the organization is severed. There is no return of any starting capital or other donations provided by that person over the years.
  • Internal Revenue System (IRS) Public Support Test: There is an Internal Revenue System (IRS) Public Support Test for nonprofits. A nonprofit is expected to have a broad base of public support. Basically, this parameter entails that over the most recent five-year period, an organization’s public support must be over one-third of its total support. For example, if the organization had an average gross income of $1M, an average of $333,333.33 of that total must come from public support each year. Learn more here.
  • Disclosed Compensation: A final item to consider is that if the organization qualifies to file a 990 (as opposed to a 990-EZ or a 990-N), the annual compensation of current key employees is listed. If the entrepreneur functions as the CEO of the organization, their compensation must be disclosed. A 990 is a public document and can appear on several governmental, group, and other websites.

Realities of Working in the Nonprofit Industry

For several aspiring entrepreneurs, this is their first foray into the nonprofit industry. As such, the realities of employment in the nonprofit sector should be considered.

  • Image: A nonprofit CEO’s image both professional and private must be closely managed. Social media and website posts need to be crafted in ways to not offend a wide range of potential donors or sponsors. Daily actions need to bring positive attention to the organization and its cause. Public appearances need to communicate the cause and its needs without giving the appearance of being “too preachy.”
  • Salary and Hours: The hours for most staff are long and the pay is not comparable to similar positions in the private sector. Many organizations experience continual turnover in staff as this reality plays into employees’ lives. As stated on the Nonprofit Quarterly website, a survey conducted by the National Council of Nonprofits of approx. 1,600 U.S. nonprofits found that, “[n]early three-fourths of respondents cited salary compensation as a major challenge…while 50 percent additionally cited stress and burnout among employees.” 
  • Approvals: Requests for new programs, grant acceptance, fundraising events, strategic plans, etc. should be approved by a vote of the board of directors with that vote recorded in written meeting minutes. This can be a stark departure from a for-profit structure where an owner is the one who ultimately decides the direction of their business.

Positive Aspects of a Nonprofit Organization

Many times, a nonprofit business structure is considered to address a perceived need in the community. It provides an aspiring entrepreneur an opportunity to bring attention to a cause in which one is passionate and to make a positive impact in the lives of persons adversely affected by the cause. In addition, through donations, sponsorships, and volunteer services, people and businesses in the community can connect with a cause and the people effected. Ultimately, successfully addressing the needs can lead to increasing the overall strength of the entire community.

Overall, several important factors should be considered when thinking about opening a nonprofit. Once open, the organization has a crucial responsibility to meet the needs of the people it serves. If the organization fails, people, real people, who are homeless, hungry, disabled, etc. could lose essential services that are crucial to meeting their basic needs and could, ultimately, jeopardize their very existence.

Author

Retta Parson

Retta Parsons

Consultants, Hillsborough, Parsons

Florida SBDC at Hillsborough County

Specialty: Start-up, Bookkeeping

Retta Parsons brings a wealth of knowledge and experience in business management and public administration to her role as a business consultant. She previously served as CEO of Shiawassee United Way. In that position, she provided leadership to ensure the construction of a $26 million county medical care facility. She also led the change process and alliance establishment that resulted in the implementation of United Way 2-1-1 in Shiawassee County. Parsons also served as a training director for Girl Scouts, where each year she managed the delivery of approximately 124 trainings for more than 700 attendees. Parsons enjoys being active in the community. Past roles include chairperson for the State of Michigan, Department of Health & Human Services, Shiawassee County, board; chairperson of the Shiawassee Human Services Council; and ambassador for the Shiawassee Regional Chamber of Commerce. She earned a Master of Public Administration degree from Western Michigan University and a Bachelor of Arts degree in Human Resources Management from Spring Arbor College. She is a certified Child Care Facility Inspector, Instructor of Trainers, and Bridges Out of Poverty Trainer. In her spare time, Parsons enjoys bike riding with her husband, Roger, and spoiling her children and granddaughter.
Read more
https://enwqtxc9es4.exactdn.com/wp-content/uploads/2025/03/RettaParson_2025WEB-e1742404121983.jpg?strip=all&lossy=1&ssl=1 1024 1024 sbdclarry /wp-content/uploads/2024/10/Locked-Host-Logos-Horizontal-USF-Small-e1728920602651.png sbdclarry2023-01-11 15:22:532025-03-19 13:27:42Retta Parsons
https://enwqtxc9es4.exactdn.com/wp-content/uploads/2024/09/Points-to-Ponder-Before-Starting-a-Nonprofit.jpg?strip=all&lossy=1&ssl=1 938 1775 sbdclarry /wp-content/uploads/2024/10/Locked-Host-Logos-Horizontal-USF-Small-e1728920602651.png sbdclarry2024-09-06 11:03:222024-09-06 11:04:37Points to Ponder Before Starting a Nonprofit

An Overview of Florida Sales Taxes for Businesses

Blog, Business Essentials, SBDC News

by Simplice Essou, CPA | June 1, 2022 Florida sales tax rules may be confusing and the penalties for not following the rules can be substantial. This articles gives a brief overview of the Florida sales taxes. The Florida tax rules state that all sales are taxable unless there is an exemption that applies to […]

Read more
https://enwqtxc9es4.exactdn.com/wp-content/uploads/2022/06/sales-tax-overview.png?strip=all&lossy=1&ssl=1 750 1420 admin /wp-content/uploads/2024/10/Locked-Host-Logos-Horizontal-USF-Small-e1728920602651.png admin2022-06-06 15:21:472022-06-06 15:21:47An Overview of Florida Sales Taxes for Businesses

Interpreting the Florida Online Sales Tax Law for Businesses

Blog, Business Essentials, SBDC News

by Simplice Essou, CPA | June 1, 2022 The recent Florida sales tax law on Internet sales has created some confusion and led to many questions for small business owners. The new law created some controversy in Florida even though in most other states online shoppers have already been paying sales taxes on their purchases. […]

Read more
https://enwqtxc9es4.exactdn.com/wp-content/uploads/2022/06/online-sales-tax-explained.png?strip=all&lossy=1&ssl=1 750 1420 admin /wp-content/uploads/2024/10/Locked-Host-Logos-Horizontal-USF-Small-e1728920602651.png admin2022-06-06 15:18:562022-06-06 15:18:56Interpreting the Florida Online Sales Tax Law for Businesses

Should my business seek certification?

Blog, Business Essentials, Featured News, Growing Your Business

by Yanina Rosario | October 15, 2019 Whether your market is local, statewide, nationwide or global, no matter what industry your business may be in, one thing that most business owners have in common is that competition is fierce. When competing against so many companies for clients, often the business owner will eye government entities. […]

Read more
https://enwqtxc9es4.exactdn.com/wp-content/uploads/2019/10/Certifcation-Graphic.jpg?strip=all&lossy=1&ssl=1 370 700 admin /wp-content/uploads/2024/10/Locked-Host-Logos-Horizontal-USF-Small-e1728920602651.png admin2019-10-16 21:31:132022-01-01 22:22:05Should my business seek certification?

See and Be Seen: Making that Lasting Connection

Blog, Business Essentials, Featured News, Growing Your Business

by Yanina Rosario | May 22, 2019 The Tampa Bay area is fortunate to have a vibrant business community and support from public and private organizations. Recently I attended the Florida State Minority Supplier Development Council (FSMSDC) monthly minority business meeting where representatives from the Hillsborough Area Regional Transit Authority, American Airlines, Florida Turnpike and Tampa Hillsborough Expressway […]

Read more
https://enwqtxc9es4.exactdn.com/wp-content/uploads/2019/05/seen-and-be-seen.jpg?strip=all&lossy=1&ssl=1 423 800 admin /wp-content/uploads/2024/10/Locked-Host-Logos-Horizontal-USF-Small-e1728920602651.png admin2019-05-22 14:56:022022-01-01 22:22:27See and Be Seen: Making that Lasting Connection

Is your new hire a W-2 Employee or 1099 Contractor?

Blog, Business Essentials, Featured News, Human Resources

by Corey McCaster | May 21, 2019 Many small business owners may find themselves faced with the dilemma of determining if a new hire is considered a W-2 employee or a 1099 independent contractor. Unfortunately, they often make the wrong decision. According to the Internal Revenue Service (IRS) nearly 3.4 million employees are classified as […]

Read more
https://enwqtxc9es4.exactdn.com/wp-content/uploads/2019/05/image-190521100923.jpg?strip=all&lossy=1&ssl=1 363 363 admin /wp-content/uploads/2024/10/Locked-Host-Logos-Horizontal-USF-Small-e1728920602651.png admin2019-05-21 14:03:282022-01-08 03:09:40Is your new hire a W-2 Employee or 1099 Contractor?

Should my company become CGBP Certified?

Blog, Business Essentials, Certifications, Featured News, Marketing

by Eileen Rodriguez, CGBP | May 14, 2019 Many business owners starting out may not consider the possibility of their business being ready for the global market. However, more than 95 percent of the world’s consumers are located beyond U.S. borders. So, if you think your business is not exposed to global markets, think again. […]

Read more
https://enwqtxc9es4.exactdn.com/wp-content/uploads/2019/05/CGBP-Certified.jpg?strip=all&lossy=1&ssl=1 1080 1449 admin /wp-content/uploads/2024/10/Locked-Host-Logos-Horizontal-USF-Small-e1728920602651.png admin2019-05-15 15:55:532022-01-01 22:35:56Should my company become CGBP Certified?

Merchandising Intellectual Property is Risky Business

Blog, Business Essentials, Featured News, Marketing

by Chris McCray | May 15, 2019 It takes a dedicated person to stand in line a day or two in advance just to buy tickets to a movie – a true fan. From Star Wars to the Marvel Universe, this phenomenon has been enticing fans to do just that two to three times a […]

Read more
https://enwqtxc9es4.exactdn.com/wp-content/uploads/2019/05/image-190515113924.jpg?strip=all&lossy=1&ssl=1 342 343 admin /wp-content/uploads/2024/10/Locked-Host-Logos-Horizontal-USF-Small-e1728920602651.png admin2019-05-15 15:31:572022-01-01 22:38:47Merchandising Intellectual Property is Risky Business

The Importance of Client-Contractor Relationships

Blog, Business Essentials, Featured News, Growing Your Business

by Yanina Rosario | April 16, 2019 Many business owners may think they know their clients well after doing a standard Clients Needs Analysis or a Marketing Mix Analysis, but how much insight do these types of evaluations actually offer? I recently attended a special presentation for prime and sub-contractors at a local hospital. The […]

Read more
https://enwqtxc9es4.exactdn.com/wp-content/uploads/2019/04/client-contractor-relationships.png?strip=all&lossy=1&ssl=1 370 700 admin /wp-content/uploads/2024/10/Locked-Host-Logos-Horizontal-USF-Small-e1728920602651.png admin2019-04-16 15:05:092022-01-01 22:22:46The Importance of Client-Contractor Relationships
Page 1 of 6123›»

Categories

  • Business Essentials
  • Business Plans
  • Buying a Business
  • Certifications
  • COVID-19
  • Crowdfunding
  • Disaster Preparedness
  • Economic Development
  • Finance
  • Government Contracting
  • Growing Your Business
  • Healthcare
  • Human Resources
  • International Trade
  • Marketing
  • Press Releases
  • Radio and Podcast
  • Starting a Business
  • Success Stories
  • Success Stories Videos
  • Tech Commercialization/Tech Transfer
  • Veteran
  • Web and Social Media
Subscribe to Newsletter

Contact Us

Regional Office Contact Info

USF CONNECT
3802 Spectrum Blvd., Suite 201
Tampa, FL 33612

813-396-2700

Subscribe to Our Newsletter

Florida SBDC Network

The Florida SBDC at the University of South Florida is a member of the Florida SBDC Network, a statewide partnership program nationally accredited by the Association of America’s SBDCs and funded in part by the U.S. Small Business Administration, Department of Defense, State of Florida, and other private and public partners, with the University of West Florida serving as the network’s headquarters. Full funding disclosure available at www.floridasbdc.org/funding-disclosures/. Florida SBDC services are extended to the public on a nondiscriminatory basis. Language assistance services are available for individuals with limited English proficiency.

All opinions, conclusions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA or other funding partners.

Reasonable accommodations for persons with disabilities and/or limited English proficiency will be made if requested at least two weeks in advance. To request accommodation or language assistance, please contact Nelson Reyes, nreyes@usf.edu, 813.396.2700.

Logos

Business Assistance

USFMuma

State Designated as Florida’s Principal Provider of Business Assistance [§ 288.01, Fla. Stat.]

© Florida SBDC at USF | contact webmaster
Scroll to top Scroll to top Scroll to top
  • Get Answers