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February 2013 Archives

Business errors entrepreneurs should avoid

Mistakes are inevitable in any business and industry, but some are more common and damaging than others. For people who are looking into a business formation, it is important that they avoid frequent and, sometimes, business-killing missteps. The most common include lack of planning, failure to listen to customers and financial mismanagement.For businesses both new and old, planning is essential. If there is not a series of steps in place for everything from product development to sales, companies are likely to experience chaos and problems managing the business. When businesses implement proper planning, the company works efficiently, and it makes it easier to discover problems within an organization. It is also essential that businesses listen to their customers. Even if a company has an outstanding product, their competitors are attempting to develop one that is even better. Companies that listen and respond to their customers are in a far better position to improve their products and services.

Virginia Beach company listed on Forbes' list

Valkyrie Enterprises, a Virginia Beach company that provides technical support and systems engineering for the Navy, has been named on the Forbes list of "America's Most Promising Companies." The company was founded in 2007 by a former Navy lieutenant commander with 11 years of experience working on cruisers and destroyers; the company reportedly conducted $23 million in business transactions last year.Valkyrie has 200 employees and was listed as number 65 on the finance magazine's distinguished list of 100 promising businesses in the United States. The company was the only one based in Virginia to be included in the Forbes lineup. Projects for Valkyrie include fleet modernization and weapons technology, such as work on the ballistic missile defense shield.

Senator presents bill to streamline small business regulation

A bill recently introduced in the Virginia Senate would implement a commission with the power to block enforcement of regulations for some small businesses. The commission would also evaluate any new mandates the state government places on businesses. Senator Richard Stuart's bill made it out of the Rules Committee nearly two weeks ago. The full Senate will hear the bill next.Stuart, R-Stafford, elaborated on the role of the commission, saying that it would review how any future mandates would impact small business formation. The commission would consist of both private citizens and legislators. It would also be able to suspend mandates for up to a year for further review. Stuart introduced the bill after speaking with business professionals about impediments to creating jobs, with government mandates being the main concern state business people had.

Proposed uranium mine in Virginia faces uphill battle

Virginia Uranium is poised to bring economic prosperity in the form of jobs and increased tax revenues to Pittslyvania County, according to supporters. Geologists estimate that 119 million pounds of uranium ore rest below the 3,500 acre property known as Cole Hill. Several hurdles, including business litigation, stand in the way of development. Virginia Uranium has a strong economic case for the mine, and this will factor into the political and judicial considerations. Business litigation is likely to focus on the potential for environmental damage. The company's ability to explain without oversimplifying safety procedures in terms that non-experts understand will be critical.

Lawsuit brought against cyclist for alleged fraud

In the wake of cyclist Lance Armstrong's admissions to cheating in his pursuit of cycling championships, two men have filed a lawsuit against the former cyclist for fraud. The two plaintiffs in the lawsuit claim they would not have purchased Armstrong's books had they known the truth about how he achieved his titles. Authors who have been targeted by similar litigation in the past have managed to negotiate settlements or win dismissals from the courts.The lawsuit also claims that Armstrong's publishers violated consumer protection laws by marketing the books as non-fiction. The lawsuit names the two men and all others who purchased the books believing they were truthful accounts of the author's life.

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