Member News ~ February 19, 2026
Events & Dates:
Winter Concert Series: Kartune at the Berwick Theater - February 26
The Berwick Theater & Center for Community Arts continues its Winter Concert Series with a live performance by Kartune on Thursday, February 26, 2026, from 7:00-9:00 PM; doors open at 6:15 PM. This free-admission event invites the community to enjoy an evening of live music, with concessions available for purchase. Bring a friend and support local arts during this lively night in downtown Berwick.
Sleuths Needed to Solve Murder at the Bloomsburg Public Library! - February 26 through March 1
It’s up to you and your fellow detectives to piece together the clues, interrogate suspects, and uncover the truth. Who will solve the mystery? Find out at this thrilling, immersive event where every guest plays a part in the unfolding drama. Don’t miss your chance to step into the pages of this unforgettable murder mystery taking place at 6:00 pm on February 26th, 27th, 28th, and 1:00 pm on March 1st at the Bloomsburg Public Library! Click here for more information.
Journey Bank Hosts Free Event: Prevention Starts with All - The Chris Herren Story - March 12
Journey Bank will host a free community presentation featuring Chris Herren — former NBA and Division I basketball player and nationally recognized advocate for substance use prevention and recovery — on Thursday, March 12, 2026, at 7:30 PM at the Bloomsburg Fairgrounds Arts & Crafts Building (980 West Main Street, Bloomsburg, PA). Learn more here!
Pine Barn Inn Hosts Lenten Seafood Buffet - March 13
Pine Barn Inn is excited to announce another All-You-Can-Eat Seafood Buffet! Join them on Friday, March 13th, from 4 PM to 8 PM for a feast of your favorite seafood dishes. Reservations are required – call 570-953-0121 to secure your spot before it fills up!
Danville Business Alliance Looking for Weekly Market Vendors - May 9 through November 21
Do you grow it, bake it, or make it by hand? DBA wants YOU at the Ferry Street Growers’ Market in Downtown Danville! They are looking for vendors for the upcoming 2026 season. Join the established market community on Ferry Street every Saturday from May 9th to November 21st and connect directly with shoppers who love fresh, local, and handmade goods.
Service 1st Calendar Photo Contest is Underway Now Through July 1
Are you an amateur photographer? Service 1st Federal Credit Union is looking for images that capture the beauty of local communities for its 2027 Calendar. Photos must be from within 15 miles of the Credit Union’s service area. More information can be found here!
Announcements:
MC Federal Credit Union Announces Plans for New Berwick Branch
MC Federal Credit Union has announced plans to expand its footprint with a new full-service branch location in Berwick, Pennsylvania, furthering its commitment to improving access to financial services in underserved communities. The branch will be located at 200 S. Poplar Street, with an anticipated opening in fall 2026. Read on.
Community Giving Foundation’s Youth Action Board Alumni Fund Established to Support Youth Leadership
Community Giving Foundation is proud to announce the establishment of the Youth Action Board Alumni Association Fund, created to invest in the next generation of youth leaders and ensure lasting, meaningful impact across the region. The full press release is available here.
Management & Leadership Program Application Deadline Approaching - February 20th
McKonly & Asbury Webinar: Valuation and Tax Considerations When Buying or Selling a Business - February 26th
Join McKonly & Asbury for a free, one-hour webinar on Thursday, February 26 at 2:00 PM EDT exploring key valuation and tax considerations in business transactions. Partners Eric Blocher, David Blain, and Jeremy Peachey will share practical insights on deal structure, working capital, and tax implications to help attendees navigate negotiations with confidence. Register here.
Bloomsburg Rotary's Annual Peanut Butter and Jelly Drive Happening Now - February 27th
The Bloomsburg Rotary's Annual Peanut Butter and Jelly Drive, which benefits the Bloomsburg Food Cupboard, runs from now until February 27, 2026. Drop-off sites are Diversified Technology, Framing by CJ, Bloomsburg YMCA, St. Columba Church, Key Partners Realty, The Tea Ladies, Bloomsburg Public Library, Brewskis, and the Columbia County Annex.
Lunch & Learn with the Bucknell SBDC: Meta Ads - March 2nd
Ever opened Meta Ads Manager and immediately thought, “Where do I even start?” This Lunch & Learn is designed to demystify the process and walk you through placing your very first Meta (Facebook & Instagram) ad—step by step. Register here!
Save the Date: Focus Central PA 2026 Industrial Development Forum - March 11th
Mark your calendars for the Focus Central PA Industrial Development Forum on Wednesday, March 11, 2026, at the Nittany Lion Inn in State College, PA. This forward-thinking event brings together leaders in industrial innovation and economic growth to explore opportunities shaping Pennsylvania’s future. Learn more at FocusCentralPA.org
Reserve a table at Luzerne County Community College’s Trades, Advanced Technology, and Communication Arts Career Fair - March 27th
LCCC will be hosting a Trades, Advanced Technology, and Communication Arts Career Fair on April 8th, from 10am-1pm. Some majors included in this Fair are: Advanced Manufacturing, Architectural Engineering Tech, Auto Tech, CNC, Diesel, Electrical Construction, Electronics Engineering, Engineering, Design, & Manufacturing, HVAC, Industrial Maintenance, Mechatronics, Plumbing, Heating, & Air Conditioning, Welding. Registration is open until March 27, 2026, at 5pm. Click here to register.
Columbia Montour Transition Council Hosting Career Expo - April 15
The Columbia Montour Transition Council will be hosting its 2026 Career Fair at the Blue Jay Academy on Wednesday, April 15th, 2026, from 8:00 a.m. to 3:00 p.m. Students from all 8 schools in the region will be invited to attend. Businesses interested in attending this event can register here. Lunch is provided to all businesses in attendance.
Pennsylvania Free Enterprise Week seeking Volunteers
Pennsylvania Free Enterprise Week provides practical, hands-on education by immersing students in the exciting world of business. This one-week summer program provides students with an appreciation of our American free enterprise system, leaving them with a newfound passion and clarity for their future. Be the reason a student discovers their potential by volunteering for PFEW 2026, and help students build skills that last a lifetime. Learn more at http://www.pfew.org
Everything You Need to Know to Handle Customer Complaints and Build a Loyal Fanbase
Source: CO, by U.S. Chamber, Jessica Elliott , Contributor
Turn mistakes into opportunities by using de-escalation techniques and resolution-tracking tools. Take these steps to effectively manage customer grievances.
No small business is perfect, but how it handles customer complaints matters. An effective process resolves issues quickly and consistently, transforming poor experiences into positive ones.
Learn how resolution-tracking tools and de-escalation training improve customer service recovery. Let’s start with a scalable framework for dealing with customer complaints.
How to handle customer complaints as a small business
To effectively handle customer complaints, small businesses must acknowledge and resolve issues quickly, accurately, and consistently. The effort is worth it because offering great customer service and support can increase loyalty and retention.
According to the 2026 Zendesk CX Trends report, nearly 9 out of 10 consumers consider response times and resolution quality when buying products or services. Almost as many business leaders said, “Customers will drop brands that cannot resolve issues on first contact.”
Manage customer feedback and grievances by:
- Establishing processes and procedures: Define support channels, response times, and escalation paths.
- Training employees: Teach empathy and de-escalation skills, and empower teams to resolve issues independently.
- Leveraging technology: Use ticketing software, complaint resolution tracking tools, and chatbots to improve customer support.
- Monitoring metrics and applying insights: Review complaint trends to identify ways to prevent issues and enhance your resolution process.
Develop a complaint management process
A complaint management process standardizes how your company receives and resolves customer issues. Take a customer service quiz to assess your current approach, then explore ways to improve it.
Think about these components:
- Customer service voice: Describe the tone, language, and personality your company uses in client interactions.
- Channels: Identify how customers lodge complaints, such as self-service, email, phone, website forms, or help desk tools.
- Internal process: Outline the steps for handling customer complaints, from first contact to resolution and final follow-up.
- Service timelines: Clarify response times for each complaint stage and channel.
Identify common customer complaints
Look at internal data and public feedback to identify the top reasons customers complain. Frontline staff interact with clients most often, making them a good source of information. You can also review conversations in customer relationship management (CRM) systems or use artificial intelligence (AI) monitoring tools to assess sentiment across social media and online reviews.
The most common customer complaints include:
- Long wait times during customer service calls.
- A staff member or another customer offended them.
- Out-of-stock or discontinued products.
- Defective or unacceptable goods or services.
- Items were missing or broken during shipping.
- Inadequate communication about staff turnover or policy changes.
- Your goods or services didn’t meet their expectations.
- A concern about billing or fees.
Decide when to escalate customer issues to management
Employees typically escalate a complaint when they don’t have the experience or authority to resolve it, a customer demands a manager, or acts abusively. However, team members may handle angry customers or unresolved issues differently, leading to an inconsistent customer experience.
Create an escalation matrix or document outlining your criteria and procedures that defines:
- When employees should escalate complaints, based on complexity or time.
- Who handles escalations, including names, job roles, and contact details.
- What to say to customers before a hand off and how to forward the complaint.
Train staff to de-escalate complaints professionally
Training employees to handle complaints professionally, even when dealing with rude or angry customers, increases first-contact resolution rates. Faster solutions can turn unhappy clients or one-time buyers into repeat customers.
Here’s what to address and how:
- Positive and negative language: Explain the difference, share examples, and ask staff to rephrase negative responses, such as “We’re behind,” “We can’t get that item right now,” or “That’s against our policy.”
- Tips on active listening: Discuss key soft skills, like listening without interrupting, repeating issues back to customers, and empathizing with a heartfelt “I understand” or similar phrase.
- De-escalation strategies: Train employees to handle angry customers using a script and empathetic or solution-oriented de-escalation phrases and to know when to refer cases to supervisors.
- Role-play scenarios: Walk through common complaints, then have teams respond to hypothetical situations. Review their replies to calls or messages, highlighting good de-escalation techniques and opportunities for improvement.
Use tech tools to track complaint resolution
Technology supports employees and customers in the complaint management process. Customer service representatives use complaint resolution tools and CRM software to prioritize and personalize responses. Other solutions help clients quickly find information or report issues.
Digital customer service tools include:
- Chatbots: Acknowledge customer complaints immediately, resolve simple requests, suggest self-service options, or hand off more complex or urgent issues to employees.
- Knowledge base: Provide AI search tools for fast access to common issues and solutions, company policies, and product or service information.
- Ticketing tools: Categorize complaints; route from email, social media, or website forms to a central inbox; and assign and notify individuals or teams.
- CRM software: Refer to the customer history, including interactions and purchases, for additional insights. When a CRM is integrated with complaint-resolution tools, it can help with documentation, communication, and customer follow-up.
Follow up after resolving a customer complaint
Check in with customers who reported problems or left negative business reviews. Thank them for reaching out, confirm they’re satisfied with the resolution, and listen to any additional feedback they provide.
Taking this step can turn a negative customer experience into a positive one. It demonstrates your commitment to excellent service and shows customers that you value their business.
Monitor and improve customer service recovery
Continuous monitoring helps small businesses catch customer service issues early. Use insights to adjust your process to better manage customer expectations and provide targeted training to close skill gaps.
Keep tabs on your customer service recovery efforts by:
- Setting key performance indicators for complaint resolution, average handle time, and cost per resolution.
- Using AI customer service tools to identify trends or patterns and fix the root cause of common problems.
- Examining customer feedback after resolving mistakes to see if service recovery efforts have positive outcomes.
- Reviewing engagement levels and growth rates in customer loyalty programs and community groups.
CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.
Virtual-First Health Plans: The New Frontier of Telehealth Care
Source: My Benefit Advisor
As technology reshapes how we work and live, it’s also redefining how employees access healthcare. Virtual-first health plans, which make digital primary care the initial point of contact, are rapidly emerging as a cost-effective, convenient alternative to traditional insurance models. What began as a pandemic necessity has become a preferred pathway for many employees seeking faster, more flexible care.
Unlike legacy telehealth options that serve as plug-ins to brick and mortar care, virtual-first models are designed to manage most primary and behavioral healthcare needs remotely. Employees can schedule video visits, chat with care teams, refill prescriptions, and receive preventive coaching from their phone or laptop, often with same-day access. When in-person treatment is needed, care navigators coordinate referrals to high-quality, lower cost providers.
For employers, the benefits are compelling. Virtual-first plans can reduce ER and urgent-care utilization, increase engagement with preventive services, and deliver meaningful cost control, particularly for geographically dispersed or shift-based workforces. Younger employees and working parents appreciate the flexibility virtual first provides, while organizations gain visibility through integrated reporting and analytics.
Still, success depends on communication and digital literacy. Employers must introduce these plans clearly, support first-time users, and emphasize that virtual care enhances, not replaces, human connection.
With adoption accelerating, virtual-first healthcare is not merely an innovation, it’s a strategic evolution toward easier access, smarter cost management, and a better experience for employees and families alike.
The Columbia-Montour Chamber of Commerce offers its members access to My Benefit Advisor as a solution for employee benefits, including voluntary offerings. For more information about My Benefit Advisor, visit our website at cmcc.mybenefitadvisor.com or contact Rob Higginbotham at (800) 377-3539.
One Small Habit That Makes Leaders Instantly More Likable (and More Effective)
Source: Chamber Today
- The habit: Saying “thank you” early, often, and with specificity.
- Why it works: Gratitude signals respect, builds trust, and lowers defensiveness.
- The impact: Teams feel seen, performance improves, and leaders gain credibility.
- The shift: Move from generic praise to precise appreciation tied to outcomes.
- The takeaway: Likability is not a personality trait. It is a practice.
536 words ~ 3 min. read
Leadership conversations often focus on strategy, vision, and execution. All matter. Yet one small habit consistently separates leaders people want to follow from those they simply tolerate: expressing genuine, specific gratitude.
This is not about being nice for the sake of optics. It is about recognizing effort in a way that signals respect and competence. When leaders make a habit of saying “thank you” clearly and intentionally, they become more likable and more effective at the same time.
Gratitude works because it changes the emotional temperature of a room. In fast-moving organizations, people are conditioned to hear what went wrong, what is late, or what needs fixing. When a leader pauses to acknowledge what went right and who made it happen, it creates balance. Teams relax. Defensiveness drops. Trust increases.
The key is specificity. A vague “thanks, everyone” at the end of a meeting rarely lands. But a targeted message does. “Thank you for pushing back on that timeline and protecting the team from burnout” tells someone they were seen. “I appreciate how you handled that client call calmly under pressure” reinforces behaviors worth repeating.
This habit also reinforces clarity. By naming exactly what you value, you teach the organization what good looks like. Over time, this reduces confusion and rework. People do more of what gets recognized, not because they are chasing praise, but because they understand the standard.
There is also a credibility dividend. Leaders who consistently acknowledge others are perceived as more confident, not less. They do not need to hoard credit. Their authority comes from judgment and fairness. In contrast, leaders who rarely express appreciation often feel distant, even if their intentions are good.
Importantly, gratitude does not dilute accountability. In fact, it strengthens it. When people feel respected, they are more open to feedback and correction. A culture that includes appreciation alongside high standards creates resilience. Teams are more willing to stretch, take responsibility, and recover from mistakes.
The habit is simple, but it requires discipline. Build it into your day. Open meetings by recognizing a recent win. Close one-on-ones by thanking someone for a specific contribution. Follow up tough conversations with appreciation for effort, even when outcomes are still evolving.
For senior leaders, this habit scales. A short, thoughtful note copied to the right stakeholders can travel far. It signals what matters without a speech or memo. Over time, it shapes culture more powerfully than slogans on a wall.
Likability is often dismissed as soft. In reality, it is a strategic asset. People work harder for leaders who notice them. They stay longer. They speak up sooner. All of that improves results.
The Bottom Line
The most effective leaders are not those who command the most attention. They are the ones who consistently recognize the contributions of others. A simple, specific “thank you” costs little, takes seconds, and pays dividends in trust, performance, and followership.
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The Columbia Montour Chamber of Commerce is a private non-profit organization that aims to support the growth and development of local businesses and our regional economy. We strive to create content that not only educates but also fosters a sense of connection and collaboration among our readers. Join us as we explore topics such as economic development, networking opportunities, upcoming events, and success stories from our vibrant community. Our resources provide insights, advice, and news that are relevant to business owners, entrepreneurs, and community members alike. The Chamber has been granted license to publish this content provided by Chamber Today, a service of ChamberThink Strategies LLC.
Montour County Historical Society – New Member Highlight
The Montour County Historical Society preserves and shares the rich history of Montour County by safeguarding the stories, places, and people that shaped the community. Through three landmark sites in Montour County: the Montgomery House (built in 1792), the Boyd House, and the Mooresburg One Room Schoolhouse—the Society brings the county’s past to life, from early settlement and industry to education and everyday family life.
The Boyd House is home to the region’s largest military collection, spanning from the Revolutionary War through Operation Desert Storm, along with an extensive business and industry collection that reflects Montour County’s economic and entrepreneurial heritage.
The Montgomery House, built in 1792, is furnished to give guests an authentic glimpse into domestic life in the early 1800s. The home features the Montgomery Collection, including a rare invitation to George Washington’s White House. The second-floor bedroom is dedicated to Abigail Geisinger, showcasing a portrait of her in her twenties along with original furniture, offering a personal connection to one of the region’s most influential figures.
At the Mooresburg One Room Schoolhouse, visiting students and guests step into a 19th-century classroom, experiencing lessons centered around a slate chalkboard, a coal stove warms the space and student's writing on slate tablets, offering a hands-on glimpse into early education.
What sets the Society apart is its commitment to making history relevant and accessible. Carefully curated exhibits, educational programming and research resources (genealogy room) invite residents and visitors to connect with the past and understand how it continues to shape the present. Guided tours are available on Sundays beginning April 2026, or by appointment.
Redeemer Tree & Land – New Member Highlight
Redeemer Tree & Land proudly serves Columbia and Montour counties with thoughtful, faith-driven tree and land care. Led by ISA Certified Arborist Austin Fiedler, the company provides professional tree removal, pruning, stump grinding, forestry mulching, lot and land clearing, property drainage solutions, and gravel driveway restoration.Member News ~ February 12, 2026
MARC is Now Accepting Applications for its Summer 2026 Internship through February 15th
The Montour Area Recreation Commission is now accepting applications for its summer 2026 internship program. Interested applicants should be enrolled in a college or university or higher education. This program is not intended for high school students. Internship details are posted to MARC’s website.
Dance Theater Company Pilobolus Comes to Weis Center - February 26th
The Weis Center for the Performing Arts will welcome innovative dance theater company Pilobolus on Thursday, February 26 at 7:30 p.m. at the Weis Center. The company will feature new works from the “Other Worlds” Collection, plus classic works, alongside a piece called Branches. This performance is part of the Weis Center’s year-long Trees Series. Tickets can be reserved by calling 570-577-1000 or online at Bucknell.edu/BoxOffice.
Lunch & Learn with the Bucknell SBDC: Meta Ads - March 2nd
Ever opened Meta Ads Manager and immediately thought, “Where do I even start?” This Lunch & Learn is designed to demystify the process and walk you through placing your very first Meta (Facebook & Instagram) ad—step by step. Register here!
Reserve a table at Luzerne County Community College’s Trades, Advanced Technology, and Communication Arts Career Fair - March 27th
LCCC will be hosting a Trades, Advanced Technology, and Communication Arts Career Fair on April 8th, from 10am-1pm. Some majors included in this Fair are: Advanced Manufacturing, Architectural Engineering Tech, Auto Tech, CNC, Diesel, Electrical Construction, Electronics Engineering, Engineering, Design, & Manufacturing, HVAC, Industrial Maintenance, Mechatronics, Plumbing, Heating, & Air Conditioning, Welding. Registration is open until March 27, 2026, at 5pm. Click here to register.
McKonly & Asbury Wins ClearlyRated’s Best of Accounting® Award for Eighth Consecutive Year
McKonly & Asbury, an IPA Top 300 firm headquartered in Pennsylvania, is proud to announce that for the eighth consecutive year, the firm has earned ClearlyRated’s industry-leading Best of Accounting® Award. This distinction recognizes accounting firms that deliver exceptional client service, and McKonly & Asbury is honored to once again be named among the industry’s top service providers. Read on.
Susquehanna Kids Offers Spring Sports Guide
There are so many spring sports opportunities in our area, and navigating through all the options can be a challenge. Our team has taken the guesswork and research off your hands with a Spring Sports Guide to give you the sports options, sign up deadlines, and other pertinent details you need to get your kids playing whatever sport(s) they choose!
Journey Bank Appoints Loni Kline as Chief Growth Officer
Journey Bank is pleased to announce the appointment of Loni N. Kline as Chief Growth Officer, effective immediately. In this newly created role, Kline will lead the Bank’s efforts to advance its enterprise-wide growth strategy and expand revenue and market share across all lines of business. Her focus will be on strengthening customer relationships, broadening access to banking solutions, and ensuring Journey Bank continues to meet the evolving needs of the communities it serves. Read more.
Columbia Montour Transition Council Hosting Career Expo - April 15
The Columbia Montour Transition Council will be hosting its 2026 Career Fair at the Blue Jay Academy on Wednesday, April 15th, 2026, from 8:00 a.m. to 3:00 p.m. Students from all 8 schools in the region will be invited to attend. Businesses interested in attending this event can register here. Lunch is provided to all businesses in attendance.
RSVP for Journey Bank’s Realtor Lunch - February 16th
Journey Bank invites local realtor partners to join them for a Lunch With Lenders on Monday, February 24, from 11:30 AM to 1:00 PM at the Pine Barn Inn. Realtors are encouraged to RSVP by Monday, February 16, by calling Alicia Naugle at 570-940-1919. All members of each office are welcome to attend.
SHRMA February Chapter Meeting - February 19th
SHRMA will host its February Chapter Meeting on Thursday, February 19 via Zoom from 7:45-9:00 AM titled Smart Hiring: AI Tools, Gen Z Expectations, and Ethical Best Practices. The session will be led by Dr. Vanessa Hill of Bucknell University and will explore modern hiring strategies and ethical considerations in today’s workforce. Register now to attend.
Management & Leadership Program Application Deadline Approaching - February 20th
Bloomsburg Rotary's Annual Peanut Butter and Jelly Drive Happening Now - February 27th
The Bloomsburg Rotary's Annual Peanut Butter and Jelly Drive, which benefits the Bloomsburg Food Cupboard, runs from now until February 27, 2026. Drop-off sites are Diversified Technology, Framing by CJ, Bloomsburg YMCA, St. Columba Church, Key Partners Realty, The Tea Ladies, Bloomsburg Public Library, Brewskis, and the Columbia County Annex.
McKonly & Asbury Webinar: Valuation and Tax Considerations When Buying or Selling a Business - February 26th
Join McKonly & Asbury for a free, one-hour webinar on Thursday, February 26 at 2:00 PM EDT exploring key valuation and tax considerations in business transactions. Partners Eric Blocher, David Blain, and Jeremy Peachey will share practical insights on deal structure, working capital, and tax implications to help attendees navigate negotiations with confidence. Register here.
Save the Date: Focus Central PA 2026 Industrial Development Forum
Mark your calendars for the Focus Central PA Industrial Development Forum on Wednesday, March 11, 2026, at the Nittany Lion Inn in State College, PA. This forward-thinking event brings together leaders in industrial innovation and economic growth to explore opportunities shaping Pennsylvania’s future. Learn more at FocusCentralPA.org
Are you planning an event for the United States' 250th anniversary?
The year 2026 marks the 250th anniversary of the United States of America, and the Chamber is proud to be part of the Columbia and Montour Counties America 250th planning committee. We’re calling on local organizations to share their plans for celebrations and events. If your organization is planning an activity, please contact Beth Goldman at gold1beth@gmail.com, Co-Chair of the Columbia Montour County America 250th Committee. Stay tuned for more details as our community prepares to celebrate this historic milestone!
Pennsylvania Free Enterprise Week seeking Volunteers
Pennsylvania Free Enterprise Week provides practical, hands-on education by immersing students in the exciting world of business. This one-week summer program provides students with an appreciation of our American free enterprise system, leaving them with a newfound passion and clarity for their future. Be the reason a student discovers their potential by volunteering for PFEW 2026, and help students build skills that last a lifetime. Learn more at http://www.pfew.org
Susquehanna Kids Releases 2026 High School Musical Guide
Get ready, Susquehanna Valley, the 2026 High School Musical Season is here! From dazzling choreography to soaring vocals and unforgettable stories, local students are bringing big‑stage magic to our small towns across the valley. Join us in celebrating their creativity and support the performances happening near you. Click here to view the calendar.
Mergers and Acquisitions – What Are the Tax Considerations?
Source: McKonly & Asbury, Mark Heath - Contributor
It seems like every day we’re reading about the latest Private Equity deal; a few months ago it was about the biggest deal ever involving some of our favorite video games. While Private Equity acquisitions are all over the headlines right now, mergers and acquisitions (M&A) activity has been robust for the last several years – it just didn’t quite have everyone’s attention like it does now. Because of this attention, though, regular discussions are being had surrounding the tax impact of acquisitions and what needs to be considered, regardless of whether businesses are thinking of buying or selling.
This first foray into the topic will cover the basics. And, while we never want to let the tax impact drive the decision, it can’t be ignored either.
Where to begin? Simple – Asset or Stock?
Asset Deals
The general rule is that buyers want to buy assets and sellers want to sell stock. But why? In an asset deal, it’s just as it sounds. The buyer is simply buying some assets. It may be an entire business; it may be just part of a business. The important distinction, though, is that an asset deal is the purchase of a group of assets that make up a trade or business (even if it’s not the entire business).
When assets are acquired, the purchase price is required to be allocated amongst the individual assets based on their fair market value. First start with the easy ones (e.g. cash, accounts receivable, inventory) and then move on to the more difficult ones – fixed assets and identifiable intangibles (e.g. customer lists). Anything left over is allocated to goodwill. As one might guess, this often requires a valuation.
Tax Impact
So, what’s the tax impact? As with everything in tax – it depends. One side often gets a desirable tax answer, while the other side makes up for it. The seller recognizes ordinary gain on things like accounts receivable and inventory, as well as recapture of accelerated depreciation on Section 1245 property (e.g. machinery & equipment). Any remaining gain is generally capital in nature and eligible for preferential rates.
The buyer on the other hand takes full basis in accounts receivable and inventory, and amounts allocated to fixed assets are eligible for bonus depreciation (which is now at 100%). This means the buyer gets the full tax benefit when A/R is collected, when inventory is sold, and a full deduction on eligible fixed assets in year one. They also get to depreciate other fixed assets not eligible for bonus depreciation, as well as amortize identifiable intangibles and goodwill. Plus, if the buyer takes on debt, the new interest limitation rules have expanded the ability to deduct interest expense. These are all significant tax advantages in the year of sale.
One might then ask – if selling a business, why would one ever agree to sell assets? This is where decision makers can’t get caught up in the tax impact alone. One may be able to use this to negotiate a higher purchase price. There are plenty of instances where a business simply can’t find someone who will buy stock. Thus, they may have no choice but to sell assets. The important thing is to know the tax impact such that one can understand the net overall financial impact of the transaction.
Stay tuned and make sure you’re subscribed to our Tax Insights, as the topic of our next article will be stock deals.
Questions? We’re here to help. We regularly help clients on both the buyer and seller side and would be happy to assist you; please do not hesitate to contact us. You can also learn more by visiting our Tax service page.
Is Your Social Marketing Working?
Source: CO, By U.S. Chamber Emily Heaslip , Contributor
How to Monitor Your Social Media ROI With Analytics
Social media analytics can power product development, better brand messaging, and improved customer service. Learn how.
Social media analytics can tell you a lot more than how many people looked at your most recent Instagram post. This information plays a role in other elements of your marketing strategy and your business operations. Learn how social media analytics can help your business develop products, improve your sales strategy, and stand out from your competitors.
Get deeper customer insights
Facebook, Instagram, YouTube, and TikTok generate an enormous amount of data about their users. Your social media analytics can tell you detailed information about your audience's age, location, interests, and online behavior. Learn about your followers’ hobbies, values, and spending habits to inform your product development and marketing strategies.
You can also see what type of content resonates the most, including trending topics, content type, and popular hashtags. These insights help you allocate marketing resources to the most impactful channels. You can also plan product or service upgrades to suit your audience's needs.
Social media analytics also offer data points that help you optimize your time and effort. Native analytics and third-party tools can tell you when members of your audience are the most active, how they interact with your brand (in comments, direct messages, reposts, or something else), and their format preferences (video, images, contests, polls, etc.). This information helps you design a posting calendar to maximize the impact of your content.
Improve lead generation
Social media provides a rich source of information for identifying and fostering potential leads. Look beyond your company profiles to tap into conversations and communities where new customers can be recruited. Social listening is one strategy that enables small businesses to improve lead generation.
“Social listening is a part of social media analytics that allows you to listen to every comment or conversation happening online across the globe on any topic. Just feed in your topic of interest and listen to who is saying what,” wrote the team at Auris, an artificial intelligence-powered media monitoring platform.
Not only can you find potential leads who may be interested in your business, but you can also find experts and influencers who could advocate for your brand. Look for analytics tools that monitor metrics such as share of voice, hashtag use, brand and keyword mentions, and trending topics across different social media channels.
Craft more impactful messaging
Social media analytics show you which posts are performing the best. With this information, you can identify patterns that allow you to hone your messaging for better conversion rates. Go further with A/B testing to compare different post formats, visuals, and calls to action to see what drives engagement and conversions.
Likewise, comments, direct messages, and mentions can be used to improve the customer experience. “Customer feedback is essential to the process. Direct replies from users give you a first-hand look at the impact of your social campaigns and content strategies,” wrote TrustRadius.
Pay attention to frequently asked questions or concerns to adjust your operations as needed. For instance, if customers often ask about your returns policy, consider updating your website to make sure this policy is clear and easy to find. Social media analytics help you understand where there may be obstacles in the customer journey that impede conversions and sales.
Differentiate your brand
Don’t just dive into the analytics related to your brand; keep an eye on what others in your industry are doing too. Analyze your competitor’s data to see what’s working well for them and where there may be opportunities for your brand to gain attention.
Learn from others’ successes to fuel your business growth strategy. Pay attention to their positioning to see how you can differentiate your brand. Monitor their comments sections to see if there are opportunities that you can capitalize on to gain market share. And observe the platforms your competitors are using the most to adjust your marketing strategy accordingly.
Top social analytics tools for small businesses
There are several social media analytics tools on the market, many of which do much more than simply collate your data. Pricing varies; some are priced by user, while others consider the number of your social media profiles. Look for tools with free trials to find the best fit.
Here are a few popular social media analytics tools to explore:
- Statusbrew: Users on G2 rate this platform highly for its ease of use. Track metrics such as the best time to post, reputation breakdown, paid performance, industry trends, and more.
- Social Status: This affordable option is geared toward small businesses that are running ads and managing influencer partnerships as part of their strategy.
- Hootsuite: This platform does far more than social media analytics. Hootsuite also delivers streamlined graphs and reports to give you a full picture of your social media performance.
- Zoho Social: G2 reviewers say this tool is easy to use. Analytics are divided into audience, engagement, performance, and reach and impressions, so you can clearly see what’s working.
Many platforms integrate social analytics with other features for managing your accounts and automatically posting.
How to set KPIs and benchmarks for social performance
The social media metrics you track should align with your overall marketing goals. Determine what you hope to achieve with your overall marketing strategy and then figure out how social media contributes to that higher level strategy. Common social media marketing goals include:
- Increasing brand awareness. Key performance indicators (KPIs) to track include follower count, impressions, traffic, and reach.
- Generate leads and sales. KPIs include sales revenue, conversion rate, nonrevenue conversions, etc.
- Increasing engagement. Track KPIs such as clicks, likes, shares, comments, and mentions.
- Increasing web traffic. KPIs include traffic, link clicks, conversions, and product trials.
You may also want to set platform-specific goals, depending on your industry. A B2B company, for instance, might want different outcomes from LinkedIn compared to Facebook. Tailor your KPIs based on the platforms you use and their demographics.
Interpreting analytics to adjust your content strategy
Social media analytics help you spot trends, track brand sentiment, and measure “value perception”— the overall customer opinion of whether your product or service can meet their needs. As you collect intel over time, social analytics tools highlight patterns and trends that tell you more about your customers. This information can inform improvements to your content strategy.
“Your social media analytics hold the key to proving impact and setting realistic, data-backed goals that align with business priorities,” wrote Sprout Social. “For example, if your Instagram analytics show you’re growing by 10 followers per week, aiming to double your audience in one quarter doesn’t tally with the data. A more effective goal might be to increase your growth rate to 20 followers per week, then build from there.”
Depending on how sophisticated your analytics tools are, you can view brand sentiment charts, top keywords, and conversation topics that help you visualize how people are perceiving your brand. This information can help improve customer service, develop new products, and allocate your marketing budget.
CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.
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