For the love of your business
For the love of your business
A recent Wall Street Journal survey on how small business owners are coping with the new healthcare law found that almost a third of those surveyed (29%) have been forced to make staff cuts. Unstable market conditions and economic pressures can force a business to dismiss or lay off employees, and employers should be aware […]
Read MoreIf you own a small business, there is probably at least some part of you hoping to pass the reins on to one or more of your children. After all, spending so much time and effort on something that’s not going to last doesn’t sit well with most entrepreneurs. It may be difficult to look […]
Read MoreBecause of increasing regulatory scrutiny of privacy laws, employers should take extra care in safeguarding personnel files and medical records as you would any other confidential company information. Employers should keep personnel files stored securely in a locked cabinet, and make them available only to managers or supervisors who have a legitimate business reason to […]
Read MoreThere are currently 13 states with laws governing an employer’s access to employees’ personal social media accounts, and 20 other states have similar legislation pending. According to recent research, 73% of American adult Internet users also use social media, so it is probably a good bet that most of your employees are on social media. […]
Read MoreBankruptcy. It’s the bad word every business owner is working hard to avoid. And, yes, it’s also a tool given to entrepreneurs as an encouragement to take risk and be able to have a fresh start when things do not go as planned. It’s a thought that may have crossed your mind on either a […]
Read MoreRetail giant Target suffered a massive data breach last December that eroded its reputation and its bottom line. How did this happen? Apparently, hackers gained access to Target’s IT infrastructure via a third-party HVAC contractor that was connected to their network. This security disaster illustrates the risk that many businesses face when contracting with third […]
Read MoreWhen your company enters into a contract with another entity or person, both parties are expected to fulfill the contract terms. However, there are some situations where a contract can be found to be legally unenforceable because of these reasons: Lack of capacity – if one of the parties lacks the ability to understand what […]
Read MoreIf there was ever a Catch-22 situation for business owners, it is this: most do not take the necessary legal steps to protect their personal wealth until it is threatened by creditors or litigants – and by then, it’s too late to implement effective asset protection strategies. A survey of 242 business owners conducted by […]
Read MoreOn March 13, President Obama signed a presidential memorandum that directs the U.S. Department of Labor to propose new rules governing overtime exemption regulations for white collar workers under the Fair Labor Standards Act (FLSA). The Presidential Memorandum instructs the Secretary of Labor to update the FLSA regulations for workers who qualify for overtime protection, […]
Read MoreThe IRS and State Governments have both stepped up their enforcement action against business owners who misclassify employees as independent contractors. One friend of ours was just fined $150,000 for Worker’s Comp Fraud stemming from a misclassification of employees as Independent Contractors. Knowing this, it is imperative for you to know the difference when it […]
Read MoreSmall businesses can ill afford litigation – not only because of the cost, but also for the time and attention lawsuits can divert from your business. Here are six tips to help you avoid one of the most prevalent sources of business litigation: employee lawsuits. Adhere to nonexempt status. If employees work more than 40 […]
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