Five Areas Businesses Should Review Mid Year

Five areas small businesses should review mid year are the topic of this week’s free SBDC webinar. Host and SBDC Director Kelly Bearden looks into evaluating the tax consequences of the “big, beautiful bill,” human resources, security risk management, financials, and more.

He begins the webinar with a look at the latest capital and economic news impacting small businesses.

This marks the 351st episode of the “Webinar Wednesday” business series that provides news and information helpful to employers and business owners.

The CSU Bakersfield SBDC provides free one-on-one help to small business owners. New and existing businesses can go to www.csubsbdc.com for more information or to sign up to meet with a business advisor at no cost.

TIMESTAMPS
00:00 Intro
00:47 What’s up today July 9, 2025
2:14 New credit scoring methods are discussed. The introduction of Vantage Score 4.0 as a competitor to FICO is noted.
5:06 Five things small business owners should review at mid-year
7:57 LivePlan is introduced as a key business planning tool. Its effectiveness in helping businesses secure funding is highlighted.
15:55 Poll Question #1: “True or false. The $100,000 bill was illegal for individuals to own and possess.”
16:16 Poll Question #2: “Which U.S. president is on the $100,000 bill?”
16:37 Poll Question #3: “What is the value of $100,000 bill today?”
20:13 2025 HR Bill: Effect on Small Business Owners
Entrepreneur Media Article: How the 'Big, Beautiful Bill' Will Affect Small Businesses
https://www.entrepreneur.com/business...
21:00 The importance of the National Federation of Independent Business is highlighted. Their lobbying efforts for tax benefits are acknowledged.
21:17 Provisions for small business tax deductions are explained. Expanded eligibility for certain professions is noted.
28:49 New tools for financial review are discussed. Key statistics for business profitability are emphasized.
30:28 The importance of financial statements is highlighted. Profit and loss statements and cash flow forecasts are mentioned.
30:46 Vertical IQ tool is introduced for industry financial insights. The significance of industry classification codes is explained.
32:14 A discussion about business valuation is initiated. The importance of understanding a business's worth is emphasized.
34:35 Buying a business with zero dollars down
37:28 The financial review of a business is summarized. Recommendations for obtaining a business valuation are provided.
38:05 Security and Risk
Cybersecurity Threats & Defenses for Small Businesses
   • Cybersecurity Threats & Defenses for Small...  

39:25 Written Information Security Plan (WISP)
43:16 The need for employee training on security protocols is highlighted. Engaging with cybersecurity experts is suggested for better preparedness.
44:05 HR and Marketing should be reviewed
44:46 Discussion on the importance of updating I-9 forms. Emphasis is placed on the legal requirements for employment documentation.
47:44 California Employment Association – Monterey mid-year update HR
   • 2025 MidYear Labor Law Update  

48:15 Details are provided about the CalSavers retirement plan. A deadline for employer registration is highlighted.
49:56 Details about minimum wage increases for healthcare workers are shared. The minimum wage for healthcare workers is noted to be between $18 and $23 per hour.
51:14 A reminder about the workforce Violence protection plan is provided. Annual updates and staff training requirements are highlighted.
51:59 A discussion on the upcoming Cal Savers deadline occurs. The importance of retirement savings is emphasized.