Growing your small business can be tricky. In fact, rapid growth can actually harm your company if you don't plan properly. And, even if you've implemented processes, technology, and outsourcing to deliver your core product or service and maximize growth efficiently, your company is still at risk if it doesn't have effective legal, insurance, tax, and financial (LIFT) systems. In fact, without solid LIFT systems, your business is just one accident, audit, or lawsuit away from ruin.
As a business owner, facing your first lawsuit can give you emotional turmoil and fear. But a lawsuit doesn't have to end your business nor collapse your dignity. Instead, this can give you a big opportunity to see something that you haven't seen before about what you need to do or improve to grow your business. Here's what you should do if you are served with a lawsuit.
Your business is your masterpiece. You have spared no effort in making it a reality right from the beginning when it was just an idea. You have given sweat and tears to make it grow and thrive, sticking with it and braving the hardest times. While a business is practically immortal, we humans are not. Plus, the business environment has always been unpredictable, even more so during this time of the pandemic. How do you ensure your business lives on among and despite immense uncertainties?
One way or another, every business owner has to arrive at a difficult decision of letting employees go. Employers and employees have many reasons for parting ways, but termination is never a desirable outcome for both parties. If not handled correctly, this may give rise to expensive lawsuits and public scandal. Here are some effective practices to consider to reduce termination-related risks.
Trademarks give the business its identity. They literally “mark" everything related to the business from its products, letterheads, processes, facilities, and more. But with company logos and taglines flooding the Internet for marketing, it is very easy for a trademark to fall into the wrong hands. At first, it may cause only confusion for your customers but it might bring a pile of expensive lawsuits later. Protect your business now by developing relevant and updated trademark strategies.
The staggering events of 2020 have greatly affected each person’s overall mental and emotional health. Faced with sudden changes such as sickness, loss, or unemployment it is difficult to stay positive. No pun intended. However, this may be an opportunity to invest in your most important asset—yourself. It is a time of unearthing your skills and talents that may have been stored away all this time. As each person is unique you surely have something to offer that nobody else could. You could be t
The coronavirus outbreak has most business owners on their toes. The constant emphasis on the slightest human interaction through skeletal arrangements results in taking in more tasks on your already full plate. From implementing safety measures to protect your employees, formulating strategies to mitigate the outbreak’s impact, to finding ways to generate more revenue — you feel the need to do it all. Here is some advice on how to navigate the volatile business environment in the new normal.
Keeping tabs on the latest developments in public health is vital in reopening your business especially during these dire times. Non-compliance and possible lawsuits are no-no in an already risky business environment. The EEOC's issuance of guidance on antibody tests is one of those developments you should take note of.
COVID 19 has complicated most things that have to do with business, and that includes the rules about granting sick leave to employees. While there are similarities between FFCRA and FMLA, there are certain conditions accepted only under FFCRA. Knowing these conditions can help you create healthcare policies that would best benefit your employees without compromising your "new normal" business operations.
The California Senate passed AB5 that addresses the “employment status” of workers when the hiring entity claims the worker is an independent contractor and not an employee. If you are an independent contractor in California, there are some steps you can take immediately to bolster your position as an independent contractor. Read here to learn more and understand its applicability to you, as either an independent contractor or a business owner who hires independent contractors.