How to Avoid Wage Violations
Now that you are an employer, you are expected to pay minimum wage and overtime. Your employees must receive meal breaks. Failure to do any one of the above constitutes a wage violation. Your employees are not only entitled to recover those unpaid wages, but a monetary penalty as well. Let’s further explore wage violations […]
Inner-Cities Are the Place to be When it Comes to Small Business
CEOs surveyed by the national nonprofit group Initiative for a Competitive Inner City (ICIC) repeatedly cite inner-cities as locations that have been hospitable to their business growth and development, according to ICIC CEO, Steve Grossman. Based in Boston, ICIC issued a report this past October in conjunction with the unveiling of this year’s Inner City […]
Organization Leads to Productivity and Profitability
Would you like to refer to your small business as organized? Start by getting organized. That means more than just tidying up your home office. In order to become more productive and profitable, you must create systems and procedures for all different parts of your business.ORGANIZATIONOrganizing your small business may be about more than neatening […]
Are Small Businesses Affected by the ADA?
It is a common mistake for the owners of small businesses to assume that certain legal provisions do not apply to them because of their size. Of course, assumption is always a mistake, but that is why you have business law attorneys to learn how the law applies to you. In the case of the […]
Why Start a Food Business?
Vision and ambition will take you about as far in the food business as they will in any other business. Ask any restaurateur, however, and you will learn that they are not enough. Most food businesses fail within the first year. Success requires a great deal of research, planning, capital, business acumen and perseverance. Did […]
The Latino Small Business Boom
According to the U.S. Hispanic Chamber of Commerce, there are 4.4 million Latino-owned businesses in this country that are responsible for the injection of over $700 billion into the U.S. economy. In the past year alone, the average annual revenue of those businesses spiked by 26.5%, while the number of credit applications jumped 22%. The […]
Strategies for Recovery from a Business Downturn
Successful business owners do not accept failure or defeat. If their business falls on hard times, they re-think and strategize. When sales and profits are lagging, they are proactive. This is a list of common strategies for consideration:ReinventionCall it reinvention. Call it adaptation. Either way, you must be ready to shift gears when you are […]
8 Cost-Cutting Strategies for Small Business Owners
There are quite a few lists of proverbs when it comes to saving money. They always involve tightening something, whether it be a belt or purse strings. That may be great personal advice, but when it comes time to cut costs for your small business, it is going to take some strategizing. For that, we […]
More Hidden Costs of Running a Small Business
So, you thought you had it all covered. You budgeted wisely, and your small business is up and running. There were even a few surprise costs that emerged, but you rolled with the punches. Now it is time to learn that a small business owner must always remain vigilant because running one is never without […]
Six Simple Tax Questions for the Small Business Owner
Plenty of individuals are comfortable doing their own taxes. That is not the case with new small business owners. It is easy to assume an accountant will handle everything, but it helps to have a basic understanding of small business tax. If you are considering starting your own small business, you can add tax questions […]