Congratulations! Your business has grown and you are ready to hire your first employee. Where do you begin? What will the employee’s schedule be and how much will the employee get paid? Will your new hire be an employee or an independent contractor—and what is the difference? Did the employee sign an employment agreement? Before your new hire begins, there …
The key to a successful business is having the right people, financial knowledge, effective processes, and a well-researched business plan. According to the Bureau of Labor Statistics, approximately 20 percent of businesses fail in their first year, and 50 percent fail by their fifth year. Forming and running a business is hard regardless of whether the business provides products or …
Following the first surge of COVID-19 cases in the United States, many businesses financially impacted by the pandemic have applied for federal funds through the federal government’s Paycheck Protection Program (PPP). One key element of the PPP is loan forgiveness, but business owners who received PPP funds must apply for loan forgiveness. If you received funds and are in the …
The limited liability company (LLC) is a popular business structure for new businesses, but what does it really mean to own an LLC? LLCs provide unique opportunities to customize business ownership to fit the particular needs and circumstances of the owners. Here is what you should know about LLC ownership. The Basics The owners of LLCs are often called members. …
As state leaders attempt to develop guidelines for reopening safely, you may have questions about the requirements for maintaining a safe environment for your business. Specifically, you may be wondering how to document the steps you have taken if someone in your workforce is exposed to COVID-19 and tests positive for the virus. The Occupational Safety and Health Administration (OSHA) …