Legally Terminating Employees
Most small business owners will occasionally have to face the unpleasant task of firing an employee. Small businesses rely heavily on each employee. An underperforming employee may not only lower the morale of other employees who have to pick up the slack, but may also jeopardize the success of the
Does Your Small Business Need a Social Media Policy?
According to 2018 data provided by SCORE, the largest provider of volunteer business mentors in the United States, 77% of U.S. small businesses use social media for their sales, marketing, and customer service. If you plan to usesocial media to promote your business, a social media policy is essential to
8 Important Provisions Small Businesses Should Include in Commercial Leases
Are you considering leasing office or retail space for your small business? Your lease can have a huge impact on whether your business succeeds or fails. Several important provisions should be considered before you sign on the dotted line. Leases of a certain duration (usually one to three years, depending
Business Insurance: Protecting Your Business from Unexpected Losses
As a small business owner, you have invested large amounts of time and money to make your business a success. Business insurance protects this investment if unexpected damage to property occurs or lawsuits, which could otherwise devastate to your business. There are many types of insurance available depending upon your
What Counts as “Hours Worked” Under the Fair Labor Standards Act?
If your small business has non-exempt employees covered by the Fair Labor Standards Act (FLSA), you must pay those employees under its minimum wage and overtime requirements for all “hours worked.” This may seem like a simple requirement, but figuring out what is considered “hours worked” may be more complicated
The Personal Guarantee: 5 Ways Small Business Owners Can Reduce Their Liability
Small businesses make a considerable contribution to the U.S. economy. Nevertheless, starting a new business is risky. Lenders view loans to small businesses, particularly start-ups, as among the riskiest they make, particularly when there is little or no credit history or business revenue on which to base their decision. To
Independent Contractor or Employee: It’s Very Easy to Cross the Line
Many businesses prefer to hire independent contractors because there’s often less overhead and fewer expenses (i.e., taxes). However, classify an employee as an independent contractor, and you’re in big trouble. Here’s how to legally differentiate between the two. Who Controls the Worker? This question can be challenging to answer. According
Are your LLC Interests Actually Securities?
Securities law is a complex minefield that terrifies even the most seasoned lawyers. As a small business owner, it is your responsibility to make sure you’re complying with all the securities laws, both federal and state, that may apply to your business. Most people think that only corporate stock qualifies
4 Social Media Mistakes that May Put Your Company’s IP at Risk
Being active on social media is hardly a choice anymore for small to medium-sized businesses—it’s a given. Your customers are there. Connecting with your target audience on the social web can boost your brand and level the playing field between you and big competitors with larger advertising budgets. But before
What Is The Difference Between an LLC and an LLP?
If you are starting a new business, the business entity you set up will affect the extent of personal liability, how the business is taxed, its management, the level of formality required, and many other factors. There are a lot of options, which can make this decision overwhelming. Limited liability
Dealing with Negative Online Reviews of Your Business
You’ve worked hard to build your small business. Nothing is more frustrating than negative online reviews, particularly if you feel they are unjustified or have been posted in bad faith. You can take several steps to prevent your business’s reputation from being damaged by unfavorable reviews. Respond promptly and professionally
Writing The Business Plan
Operating your business without a business plan is like going to the grocery store hungry and without a list. You end up with a lot more than you need—a lot more than you even want—in your cart. And you’ve likely upset your budget for the week. A few such carefree