Municipal, state, and federal governments enact legislation requiring companies to comply with various laws regarding taxes, privacy, antitrust issues, and more. Violations of these regulations can mean employee lawsuits and hefty fines from the government. Therefore, it’s essential for business owners to be aware of these rules and remain compliant. But what are some compliance …
Active shooters in America are an ongoing threat and their actions lead to tragedy. Your company should be prepared to handle this event and to deal with its aftermath by setting up active shooter protocols in advance. These protocols can provide employees with instructions on how to act in the event of an active shooter …
If you run a growing small business, you know that the challenges can feel overwhelming. On top of the daily operations, you likely have to handle the time-consuming HR and accounting paperwork necessary to pay your employees and meet government regulations. These additional responsibilities can make it difficult to focus on continuing the success of …
It takes a lot of effort to keep a new company running. For many small business owners, they got into their line of work because they wanted to offer a certain product or service that wasn’t available elsewhere. However, your passion for your product or service doesn’t always make you a master at HR functions. …
If you’re looking to match up with a PEO, you may know that you have a lot of different choices to make. The National Association of Professional Employer Organizations (NAPEO) reports that there are more than 900 PEOs operating in the U.S. today. That number is likely to continue to grow, as the growth of …
When a new business is starting out, particularly when it’s only one or two people, HR functions may not be a priority. However, once a company begins to grow, HR functions are a vital part of the recipe for continued success. After all, any matter that involves your employees will have some level of HR …
It’s unfortunate that many small to medium-sized businesses go out of business within the first five years. According to statistics compiled by the Small Business Administration (SBA), about half of all businesses with employees fail within the first five years. There isn’t usually one sole reason that businesses fail. Any given business is likely to …
In the ever-evolving landscape of business regulations, compliance is not just a necessity—it’s a cornerstone of sustainable operations. Non-compliance, the failure to adhere to laws and regulations, can have far-reaching consequences, affecting everything from a company’s reputation to its bottom line. Below, we explore some of the key consequences of failing to stay compliant. 1. …
For many business owners, handling payroll responsibilities, including calculating and paying the related taxes, can be overwhelming. This stress is one reason why so many businesses have turned to professional employer organizations (PEOs) for help with their payroll and tax needs. Finding the right PEO for your business can be as stressful as handling payroll …
Not everyone likes to deal with confrontations in the workplace, but as a small business owner, you’re going to be involved with them in one form or another. Whether it is between yourself and an employee or client, or it is between two employees, conflict is going to happen. Being prepared to deal with these …
As a business owner with a growing company, you’ll have to make personnel decisions to meet new or changing challenges. You’ll have to decide whether you need to have employees that work in-house or if you’d be better off outsourcing the position, which is becoming increasingly popular for many businesses. That decision will come down …
If you run a small business, you are likely aware that many similar businesses are forced to close within several years of opening. For small businesses with employees, about 50% of those companies shut down within the first five years, according to research put out by the Small Business Administration (SBA). Typically, there isn’t a …
There are countless rules and laws at the federal, state, and local levels governing how a business needs to be run. Running afoul of any of these regulations can be financially costly and could even result in the shutting down of your business. Knowing about the most common non-compliance infractions is one step to reducing …
Small business owners tend to be as invested emotionally with their companies as they are financially. Research from the Small Business Administration (SBA) shows that operators of small companies face both emotional and financial hardship in the wake of litigation that can alter the trajectory of the business. Avoiding the most common types of litigation …
Starting a new business is an exciting but stressful time. While the freedom to be your own boss is relieving to many people, that freedom can feel overwhelming at times. Handling these early decisions properly is critically important, as the Small Business Administration (SBA) points out, nearly half of all small businesses close up within …
Running the HR functions of a business is a daunting process, especially for those business owners without a background in the field. There are many legal requirements you must meet, and HR functions can take over large portions of your workday. Professional Employer Organizations (PEOs) offer HR support services designed to make running a small …
If you run one of the 30.2 million small- to medium-sized businesses that the Small Business Administration (SBA) reports as operating in the U.S. today, you know that there are complex challenges that must be met to keep your business running. Sometimes, these challenges can feel overwhelming for a business owner to handle on their …
Many small and mid-size business owners turn to PEOs to simplify their lives by outsourcing key HR and accounting functions. However, that’s not all that a PEO can do for your business. The right PEO can give you the tools to cultivate your workplace culture and can help provide your employees with better benefits packages. …
Losing an employee can be a difficult process for a small business. Given the more intimate size of your company, a single employee leaving can mean having to adjust significantly different office dynamics. However, what you end up paying out of pocket for a lost employee can be surprisingly high. Depending on the nature of …
Signing up with a professional employer organization (PEO) can really help small businesses grow. According to a 2017 study conducted by Laurie Bassie and Dan McMurrer of the National Association of Professional Employer Organizations (NAPEO), small businesses that partnered with a PEO saw twice the median revenue growth over similar businesses that didn’t. More than …
Businesses of all sizes turn to PEOs (or professional employer organizations) for their HR outsourcing needs. According to NAPEO, there are nearly 500 PEOs operating in the United States. Although this deep well of PEOs creates a buyers market for interested companies, it also makes it difficult to determine what the best PEO is for …
One way that employees can give feedback to a company, its owner, and their employer is to have the employer conduct an employee survey. Doing so gives the employees a voice, makes them feel heard, and can help business owners in a number of different ways. In fact, employee surveys provide some of the most …
Most business owners start their companies because of a deep passion for their industry and a desire to promote their products. Many of these employers and innovators may be well-versed and knowledgeable about the work of their business, but few are up to date with human resources services. This lack of experience in such a …
Despite taking precautions to ensure a smooth workplace, it sometimes feels inevitable that a dispute between an employer and an employee will take place. When a conflict arises, it is important to have a clear resolution process in place so that both parties understand what will happen and how the matter will be handled. As …
In the growing American economy, small businesses play a crucial role in ensuring stability and continued success. To support this vital sector, the government introduced a significant tax benefit known as the Qualified Business Income Deduction (QBID), or Section 199a deduction. This deduction allows eligible taxpayers to deduct up to 20 percent of their qualified …
