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How middle-market companies can conquer federal regulatory challenges - Greater Cleveland Partnership

The cost of complying with government regulations is a major concern for middle-market executives. government regulationsAccording to the National Center for the Middle Market’s latest MMI quarterly report, only half of the market executives who responded from Ohio were happy with the business climate in their state.

What do the numbers say?

 

Every five years, the Small Business Administration analyzes how much federal regulations cost businesses. According to a report filed in 2010, it cost businesses with between 20 and 499 employees an estimated $7,454 per employee per year to comply. The cost to companies with 500 and more employees was approximately $7,755. Collectively, it cost companies $1.75 trillion to comply.

 

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What middle-market companies need to know about market disruption - Greater Cleveland Partnership

Middle Market DisruptionNo matter how profitable your middle-market organization is, market disruption is a reality you have to face. There is always the possibility that another company will introduce an innovation that redefines your industry or makes you obsolete.

 

For example, movie rental giant Blockbuster, went bust with the emergence of streaming services such as Netflix. Taxicab companies are in hot competition with driving services such as Uber and Lyft.

 

Instead of trying to come up with strategies that may help you stay afloat during  middle-market disruptions, aim to be the disrupting element.

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Common Core learning standards set high expectations for Ohio’s students - Marty McGann

Common Core Learning StandardsAs American students continue to slip and fall behind in crucial subjects such as reading and math, there is a strong need to have Common Core standards in place.

It’s also important to correct misinformation surrounding how Common Core standards were developed, with some people believing these standards were developed by the Obama Administration.

Not true.

Common Core was developed collaboratively by state education leaders, governors, teachers and education experts from dozens of states. Most notably, Ohioans were heavily involved in the formation of the standards.

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Tips to fast-track your middle market employee retention program - Greater Cleveland Partnership

Middle Market employee retentionWhat’s your employee retention strategy? If you’re like most middle-market companies, you may not have one. 

With the economy strengthening and more jobs becoming available, companies could lose their best employees. In addition to lowering employee morale, low employee retention levels can disrupt productivity, negatively impact the bottom line and take current and potential leaders away from your enterprise. 

Matching your competition’s salaries and other benefits isn’t enough to keep your employees loyal. An investment in a retention strategy and your workers can help.

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What you should know about federal transportation funding - Nick Gattozzi

Highway Trust FundYou may have read about Highway Trust Fund, but what does it mean to you, your company and our region?

Revenues from the Highway Trust Fund are used to pay for repairs on roads, mass transit and other infrastructure projects. However, the fund is facing insolvency for several reasons including that the gasoline tax—18.4 cents per gallon—hasn’t been raised since 1993 despite inflation, cars are more fuel efficient, requiring less gas, and people are driving less, also reducing the amount of gas that’s pumped.

Meanwhile, the cost of maintenance has gone up.

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Selling your mid market-company? Tips to come out on top - Greater Cleveland Partnership

Selling Mid Market CompanyDeriving maximum value from the sale of a company goes far beyond revenue and market share figures. Selling a company of any size can be a complicated and arduous task. There are several steps that should be taken well in advance of the sale, to make your company attractive to investors. Here are some tips for selling a mid-market company:

Do your homework

This is the first step in determining the valuation of the company and correct timing of the sale. Having a good idea of market share, potential buyers, economic conditions and competitor valuations, is critical before deciding to sell. Negotiation strategies can then be formulated based on realistic market conditions.

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Connecting diversity to the bottom line - Greater Cleveland Partnership

Commission on Economic Inclusion LogoMore than 100 Northeast Ohio employers currently are members of the Commission on Economic Inclusion, a program of the Greater Cleveland Partnership, whose mission is “to make Northeast Ohio the best region in the country for the inclusion of minority individuals and businesses in the economic engines that drive our competitiveness.”

Founded in 2000 with an initial membership of 28 of the region’s largest employers, we see our role as creating the flow of all the key ingredients for a strong inclusive regional economy:

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Hiring globally: Middle-market companies can compete - Greater Cleveland Partnership

Successful companies depend upon a skilled and talented workforce. However, the supply of qualified global workersAmerican workers may not meet the demand in certain fields.

When unable to find skilled employees domestically, many companies will look abroad. This can be a challenge for mid-sized businesses, as the process can be risky, expensive, and complicated, and you may be in competition for talent with more well-known international corporations. But the reward can be well worth the effort.

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Make the most of summer to rev up your business for fall - Greater Cleveland Partnership

Make the most of summer to rev up your business for fallThe warm months don't have the reputation of the "hazy, lazy days of summer" just because kids are out of school. The reality for most businesses is that the time between June and September really is slower as clients and staff take time off for vacations and work seems to take longer.

Why not embrace this reality and see it as a positive time to recharge and re-energize so when fall comes around, your middle-market business is ready to take off stronger than ever. 

Here are some ways middle-market managers can use the summer slow down to rev up for fall.

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Mid-market firms and multi-generational workforces: Creating workplace harmony - Greater Cleveland Partnership

Multigenerational Workforce Middle Market FirmsFor middle-market managers, creating a cohesive team is a challenge as different personalities, different genders and different life experiences come together. One of the biggest issues may be generational, as different generations are now sharing the workplace. 

Three generations—Baby Boomers, Generation X and Millennials—bring different styles of leadership, communication, motivation and work ethics to the office. Meshing these differences is the key to creating a harmonious group so that business can get done seamlessly. 

What should a manager do to be proactive in addressing and minimizing these differences?

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