Hiring your first employee is an exciting time for your company. Your daily duties have expanded and you need to hire someone to take over some of the responsibility. Before you interview and find the person you want to bring into your company, you need to understand the legal requirements for hiring and maintaining employees.
Banking is a huge part of running a small business. Between acquiring a loan, opening an account, and keeping up with paperwork, it helps to know the tricks of the trade. We asked our small business experts what they’ve learned about small business banking since starting their businesses. Here’s what they had to say… (more…)
The Franchise Business Economic Outlook for 2015, published by the International Franchise Association Educational Foundation, reports that in January 2015, a total of 781,794 small U.S. businesses are franchises. Statista, a statistics portal, estimates that the economic output from these small businesses will generate $889 billion.
With such a foreseeable impact on U.S. businesses and the nation’s economy, some people may be asking: “Exactly what is the franchise business model?” (more…)
One of the top priorities for business owners should be paying down debt quickly and efficiently. Eliminating debt will cut your expenses, increase your profits, and allow you to reinvest in your business to generate higher future sales. It also frees up credit you may need later for future investments.
Over the past couple of years, controversy rose around independent contractors. The line between employee and independent contractor has thinned, and many are confused over how workers should be classified. In general, the independent contractor is considered to self-employed, and the company is their client. This means that there are some vast differences between the tax obligations for independent contractors and employees.
Every day around the globe, firms and corporations rise to the top or sink to the bottom. Such rises and falls are attributed not only to external factors but also to the successful or unsuccessful implementation of business plans and to the strategies, marketing goals, estimations and forecasts established by these corporations. Successful marketing goals and strategies that help companies rise rather than fall choose the right media services that will boost the company’s exposure on the proper media platforms. In search of these services, businesses are finding useful tools and resources to reach wider audiences in many different languages, and one of those primary tools is voice-over recording. (more…)
There is nothing worse than getting a new customer, providing your product or service, and then not getting paid. All too often, this happens because the vendor did not implement some simple procedures. Follow these 5 steps and you can dramatically reduce the chances of not getting paid.
1. Create a Credit Application
Just like a bank, you need to collect information about your customer using a credit application. It can be a simple 1 page document to get basic identification information as well as permission to investigate their credit. Most companies use a 2 page application so they can establish legal terms with their customer to protect the vendor in case there are payment problems. You can find examples online by searching for credit application forms or templates or the free ebook Credit Application Handbook which has 20 samples. (more…)
The trend of big data has led to the rise of social media platforms handing their consumers analytics on their presence online. LinkedIn is no different. As a small business, understanding your page’s analytics is vital to its success as it gives you a great amount of information on your target audience’s preferences. But with all analytics, there are some key figures and terms to monitor that give the most insight into your successes and failures.
Although internships are not necessarily a new idea, their rise as an essential part of the college kid’s life has only occurred in the last decade or so. Employers set out every year for a new batch of interns, each with their own set of requirements. From talking to my own college intern, I can tell you that most students her age don’t have a great grasp on the specific characteristics employers look for in an intern. The issue arises because many consider interns to be their own class of employee that has very different expectations than the rest of the company. We asked some experts on what exactly they look for in an intern and, as to be expected, the results were all over the board.
Staying on task each day is a challenge for most people. Some struggle with project management, while others just can’t stay organized. Either way, there’s always room to simplify and streamline work and life.
Fortunately, you don’t have to spend money on costly self-help systems or learn a complex electronic calendaring system. One of the best tools for productivity are trusty Post-It Notes. Sticky notes – that’s right – can be a powerful device for making your days more fruitful, breaking down complex tasks into more manageable pieces, and streamlining organization in your life or at the office. (more…)