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What to Pay Employees: 7 Factors to Consider. When it comes to determining how much to pay your employees, you want to be fair to your workforce while protecting your business’s interests. Use these seven factors to come up with an appropriate wage for each role your hiring for: Type of Job. Average Pay (in your industry). Exempt vs. Nonexempt Status.
Business borrowers really like credit unions – when they use them. In fact, credit unions have some of the highest business-borrower satisfaction rates among all types of lenders, according to the Federal Reserve’s latest Small Business Credit Survey. Satisfaction with credit unions was 76% among applicants for new credit — higher only for businesses that had applied at small banks (at 79%).
Imagine if your patients were armed with all the tools and resources they needed to make informed decisions on their healthcare choices and billing options. The focus on surprise medical bills and patient loyalty has been in the news recently, along with how high-deductible health policies are linked to delayed diagnosis and treatment.
“You’re a Bill Collector, you collect overdue accounts; thus you must be one”, you would not believe how often we hear this day today. The truth is yes, we collect overdue accounts, but we are not Bill Collectors by definition; we are an extension of your business. That’s why we refer to individual members of our collection department as Customer Account Agents, as we take a customer service approach to the collection of our clients’ overdue accounts.
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
As you go about your day-to-day business operations, you may forget just how integral your business bank account is to your small business. After all, you started the account for a reason—and when you stop and think about it—you use it much more than just as a place to store funds. You may use your business bank account to pay your bills, employees, suppliers, or all three.
Every year, it is estimated elder adults are exploited for up to $36 billion. World Elder Abuse Awareness Day aims to bring worldwide awareness to this under-reported problem. It is an international United Nations observance day that is commemorated by most countries around the globe on June 15. Elder abuse and elder financial exploitation (EFE) specifically is a growing concern in our families and communities as the baby boomer generation hits their senior years and is the most common form of r
Every year, it is estimated elder adults are exploited for up to $36 billion. World Elder Abuse Awareness Day aims to bring worldwide awareness to this under-reported problem. It is an international United Nations observance day that is commemorated by most countries around the globe on June 15. Elder abuse and elder financial exploitation (EFE) specifically is a growing concern in our families and communities as the baby boomer generation hits their senior years and is the most common form of r
Just like respect, trust is not given—it’s earned. In the world of business, people will not buy your products or your services if they don’t trust you. They need to find your business trustworthy before they decide to hand over their hard-earned cash. The tricky part about trust is that it cannot be forced on other people. You cannot just tell people to trust you so you can make a sale.
Small Business Credit Card Reader Options. Low-cost options. Square magstripe reader. Square chip card reader. Medium-cost options. Clover Go. Square chip and contactless reader. Square Stand. High-cost options. Clover Flex. Clover Mini. Clover Station. Square Register. Credit card readers come in all different shapes and sizes. If you’re just starting your search for a small business credit card reader, you’re likely just becoming aware of that fact.
What Is an LLC Operating Agreement? An LLC operating agreement is a legal document that outlines the governing structure of the LLC, as well as the rights and responsibilities of each owner. An operating agreement isn’t legally required in most states, but it should be stored with other important business records. When starting a new business, every entrepreneur wants to focus on their customers and providing the best product or service.
How to Motivate Employees: 7 Ideas. Provide open, honest, respectful communication. Offer your employees opportunities to learn and develop. Listen to employee concerns and address issues. Offer incentives for good performance. Be flexible to different employee work-styles. Foster a comfortable and welcoming workplace. Gamify work-related tasks. Motivation comes from the inside out.
No matter where you are, it’s important to find a great bank for your small business when you’re setting up shop or growing rapidly. We’re going to look into the best banks for small business in Michigan, specifically, so you can find an excellent fit for your company that understands your local needs. No matter if you’re right in the heart of the action in, say, Ann Arbor, or peacefully enjoying yourself in the Upper Peninsula, you’ll be happy to discover that there’s a range of options among t
What Is Customer Lifetime Value? Customer lifetime value (CLV) is a formula which tells you how much revenue a customer will generate over their entire relationship with your business. Calculating CLV can help you with budgeting, forecasting, and resource allocation decisions. Ultimately, a company’s viability depends on customers returning again and again.
Out of the many responsibilities of a company’s human resources management , finding suitable employees to staff a growing small business comes with a special set of challenges. The employee selection process takes time and effort, between attracting qualified candidates through job postings, wading through stacks of submitted resumes, and keeping applicants engaged throughout a hiring process that can take up to 23 days.
As a contractor, you know that running your business requires capital—and, often, lots of different kinds. Luckily, the best small business loans for contractors provide you with many options to access different types of capital, depending on your company’s unique needs. You may need capital to finance the purchase of specific items, assist with cash flow concerns, or pay your staff.
Taxes can weigh heavily on the mind of a small business owner. Local, state, and federal small business taxes can eat a big chunk out of your bottom line, and sometimes, it can feel like all your hard-earned profits are going to Uncle Sam. Fortunately, tax deductions and small business tax credits can help lessen the sting of taxes. Most small businesses are aware of the importance of tax deductions.
Small business owners looking to sell their products online should consider selling on Walmart. The retail behemoth has made a concerted effort over the last few years to boost their ecommerce operation, and is now second only to Amazon in terms of online sales. . Unlike selling on Amazon , the process for getting your business set up on the Walmart online marketplace is free, and it’s fairly straightforward.
The Top 3 Convenience Store POS Systems. Harbortouch POS. Square for Retail. ShopKeep POS. Convenience stores are the backbone of the American retail industry. According to a 2014 report by Nielson , there are over 152,794 convenience stores in the United States—that’s one convenience store for every 2,095 people. Furthermore, convenience stores make up roughly 33.9% of all retail outlets in the United States.
When setting up your small business, picking the right bank account is just as important as making sure you’ve got licenses and permits, and just as crucial as having a solid business plan to help your company grow. There are a ton of great business bank account options out there, though, which can make it difficult to be confident that you’re picking the right one.
ShopKeep vs. Square: Pick Your Business’s POS. ShopKeep and Square are both providers of POS software, hardware, and payment processing. ShopKeep offers a highly customizable quote-based service with strong 1:1 support. Square’s product boasts highly capable software and a transparent pricing model. ShopKeep and Square have a lot in common. Both are merchant services providers , both offer point of sale software and hardware, both offer payment processing, and both are among the best options ou
As part of the significant shift toward a self-employed workforce across the country, many former full-time employees are taking their expertise and striking out on their own. If you’re among the entrepreneurial types building out a consultancy, you may be interested in finding out how to get a business loan for a consulting business. A business loan can be a great idea for many consultancy owners.
Stripe vs. Paypal: How to Choose the Best Online Payment Option. When it comes to Stripe vs. PayPal, we’re looking at two of the largest online payment service providers on the market. Both can provide your business with everything it needs to start accepting payments online, including a merchant account and payment gateway. Plus, both charge an online payment processing fee of 2.9% + $0.30.
How to Motivate Employees: 7 Ideas. Provide open, honest, respectful communication. Offer your employees opportunities to learn and develop. Listen to employee concerns and address issues. Offer incentives for good performance. Be flexible to different employee work-styles. Foster a comfortable and welcoming workplace. Gamify work-related tasks. Motivation comes from the inside out.
High-Risk Merchant Account Providers: Top 3 Options. Durango Merchant Services. Payline Data. PaymentCloud. As a business owner, you need to accept credit card payments. However, not all merchant account providers are going to want to work with your business. This is especially true if you are what merchant account providers call a “high-risk merchant.”.
What Is a Limited Partnership? A limited partnership is a partnership in which there are two types of partners—general and limited partners. General partners manage the business and are jointly liable for the debts and obligations of the business. Limited partners have limited liability for business debts and obligations but don’t actively manage the business.
The name that you choose for your business the day you start it may not end up being the name that you want to use down the line. It’s very common—businesses evolve, and their names do, too. If you have a business bank account, you might be wondering, Can I change my business bank account name? The answer is yes, you can—but there’s a little more to it than just signing into your business bank account digital settings and typing in a new name.
Dwolla Review. Dwolla is a white-label service for integrating your business with the ACH network. With Dwolla, your business can self-host a platform for sending, receiving, and facilitating bank transfers. Dwolla boasts comprehensive security measures and assistance with integrating your business’s software onto its platform. Pricing is quote-based.
Payroll is just one of several essential aspects when it comes to HR for your small business. However, like many procedures involved in your business operations, payroll in itself is multifaceted. Overall, payroll means paying your employees—and yet—it also means choosing a payroll schedule, calculating employee checks and taxes, and making sure everything is done accurately and on time.
The state of Texas has 2.6 million small businesses that employ nearly half of Texas residents, making these businesses very important to the state’s overall economy. Like other states, Texas recognizes limited liability companies (LLCs) as a type of business entity. Many small business owners choose to structure their companies as LLCs because they offer a combination of flexibility, legal protections, and tax advantages.
If you are or have been in need of legal help for your business, chances are you’ve considered online legal services. Getting legal help online is convenient, affordable, and best of all, quick—which is important when you need a legal answer right away. Incfile is one of the top legal help sites for small businesses. Small business owners can incorporate a business on Incfile, hire a registered agent, file business taxes, and much more.
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