How to Attract Stellar Employees for Your Small Business
Although 58 percent of small business owners indicated that they had hired or tried to hire employees, 86 percent found that there were few or no qualified applicants for their open positions. Nevertheless, there are some strategies that your small business can use to attract excellent employees, even in a tight job market.
What Small Business Owners Should Know About Business Credit
For a small business to grow, it is often necessary to borrow money. The Small Business Administration reports that the inability to obtain funding is one of the main obstacles that prevents small businesses from expanding their operations. To increase your business’s chances of obtaining much-needed funding, it is important to understand and establish business […]
Can Your Small Business Write Off Bad Debts?
Despite your best efforts to work only with customers or clients you believe will pay for the goods or services your business provides and to diligently collect delinquent amounts owed, you will almost inevitably have to deal with bad debts occasionally. Sometimes, the IRS allows you to take a bad debt deduction. What Is Considered […]
4 Reasons to Consider Changing Your Business Structure
As your small business expands and evolves, it may make sense to consider changing its structure. Many small businesses start as sole proprietorships or partnerships, with only one or two owners and no employees. Over time, as your business grows and changes, a more complex business structure may become beneficial. There are several key considerations […]
Summer is Here: Should Your Small Business Have a Vacation Policy?
There is no legal requirement for businesses to offer paid or unpaid vacation time to employees, but it is common knowledge (and common sense) that employees who occasionally take time off are more productive and engaged when they return to work. If you offer vacation time to your employees, a well-drafted vacation policy will help […]
What You Need to Know About Non-Compete Agreements for Your Employees
A small business that has invested substantial resources in developing a product or a customer base could be devastated if its employees then go to work for a competitor down the street or set up their own competing business. A non-competition agreement is an important tool that could protect your business from former employees who […]
Steps to Protect Your Small Business from Non-Paying Customers
Unfortunately, most businesses must deal with non-paying customers at least occasionally. You can safeguard the time and money you have invested in your small business by taking several steps, both to lessen the likelihood of nonpayment and to obtain the amount owed once a customer has failed to make a timely payment. Be Proactive Screen […]
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 business. When an employee must […]
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 protect your business’s reputation and […]
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 upon the state) are generally […]
