“How much should I charge?”

That’s one of the first questions most small business owners ask. And it’s not an easy one to answer. Setting a pricing strategy depends on many factors — the type of product or service you’re offering, your own costs to provide it, your expected profit, your customers’ location, the “going rate” for your industry, and many others.  

Finding just the right balance between all of the factors involved is more art than science. Pricing too low can cut into your profits, while overpricing also can hurt your business.

Many people often overlook Internet security until word of a new virus or email “worm” hits the headlines. Even then, it’s easy to assume that existing firewalls and virus software are enough to safeguard computers and precious data.

Operating an honest, ethical business may seem like a no-brainer. But in today’s highly competitive business environment, the temptation to bend the rules looms large. And don’t think that it’s OK to do something “just this once.” Not only is a wrong choice always wrong, but one-time ethics breaches often become habits. And, once the reputation of you and your business are compromised, it may be impossible to repair the damage.

Will you be asking your employees to work overtime this year? Before you start setting those work schedules, make sure you fully understand the rules governing overtime pay.

Under the Fair Labor Standards Act (FLSA, administered by the U.S. Department of Labor’s Wage and Hour Division, hourly employees must be paid overtime at time-and-a-half for working more than 40 hours in a workweek. Overtime pay may not be waived by any agreement between you and your workers.