For small business owners looking for a way to save for their retirement or to provide an option to their employees, SEPs provide one viable option worth exploring. What is an SEP? It is a Simplified Employee Pension plan. This type of plan provides employers with a simplified method to make contributions toward their employees’ retirement and, if self-employed, their…
As hard as it may be to believe, employee theft and embezzlement adds up to billions of dollars in loss annually. For any business, particularly a small business, the financial loss can be devastating. Security experts estimate that as many as 30% of all employees steal, and that another 60% will steal if given sufficient motive and opportunity. Just as…
Noncompete agreements are a common practice in business. It’s not an unusual request for a company to ask an employee, particularly a key employee, to sign one. However, many employers often find out after the fact that the agreement probably wouldn’t hold up in court if challenged. Most successful challenges of a non-compete agreement are those that claim the agreement…
Do you shutter at the idea of advertising for an open position in your company simply because you know you will be inundated with hundreds if not thousands of resumes? Most smaller businesses do not have a large (if any) human resource department that can take the time to sift through all the potential candidates. So what can you do?…
As a small business owner, how dependent is your business on the internet? If faced with a loss of internet service, what type of impact would it have on your overall business? According to a recent Wells Fargo/Gallup Small Business Index 35% of small businesses believe it would have a major impact on their business, including 18% who said it…
Workers’ compensation costs are skyrocketing. In some industries considered high-risk, businesses are seeing their costs become almost unmanageable. However, here are three easy cost saving strategies you could try to reduce your workes’ compensation premiums. Prevent workplace injuries and illnesses. You’re thinking, “well of course our goal is to prevent workplace injuries and illness”, but that often requires going beyond…
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