Business

Legally Terminating Employees

Most small business owners will occasionally have to face the unpleasant task of firing an employee. Small businesses, in particular, rely heavily on each employee. An underperforming employee may not only lower the morale of other employees who have to pick up the slack, but may also jeopardize the success [...]

Does Your Small Business Need a Social Media Policy?

According to 2018 data provided by SCORE, the largest provider of volunteer business mentors in the United States, 77% of U.S. small businesses use social media for their sales, marketing, and customer service. If you plan to use social media to promote your business, a social media policy is essential [...]

Business Insurance: Protecting Your Business from Unexpected Losses

As a small business owner, you have invested large amounts of time and money to make your business a success. Business insurance protects this investment in the event of unexpected damage to property or lawsuits, which could otherwise be devastating to your business. There are many types of insurance available [...]

What Counts as “Hours Worked” Under the Fair Labor Standards Act?

If your small business has non-exempt employees covered by the Fair Labor Standards Act (FLSA), you are required to pay those employees in accordance with its minimum wage and overtime requirements for all “hours worked.” This may seem like a simple requirement, but figuring out what is considered “hours worked” [...]

7 Key Elements Prospective Funders Look for in a Business Plan

As the economy improves, more and more entrepreneurs are considering starting or expanding their small businesses. However, most small business owners do not have the financial resources to do this without obtaining outside funding. If you are looking for funding for your business, you will need to provide prospective funders [...]

Business License and Permit Requirements

If you are starting a new business, it is important not to overlook federal, state, and local business license and permit requirements. Almost every business, even one that is home-based, is required to obtain some form of license or permit in order to operate legally. Failure to do so can [...]

4 Steps to Ensure the Enforceability of E-Signatures

More and more, transactions between small businesses and their customers, vendors, and service providers occur online rather than on paper. Yet some feel uneasy about the enforceability of these electronically-signed documents. Is an electronic signature as valid as a conventional handwritten signature? Under state and federal law, e-signatures are recognized [...]

Cybersecurity: Protecting Your Business

Cybersecurity is a growing concern for businesses, and small businesses are not immune from the threats posed by cybercriminals. Don’t be complacent because your business is small: Almost half of all cyberattacks in the U.S. are directed at small businesses. In recognition of this serious problem, in August 2018, President [...]

LLC Operating Agreement: Is a Non-Compete Clause Necessary?

You and several friends start a new business and decide to operate it as a limited liability company (LLC). Now that you’ve completed the  first step—choosing a business entity—it is now important to prepare an operating agreement. The operating agreement is a contract which governs the operations of the LLC [...]