Concerns for Small Business: Insurance Can Be a Savior

  Concerns for Small Business: Insurance Can Be a Savior Today’s post focuses more on a practical business reality as opposed to a purely legal issue.  Because we are celebrating Small Business Week, we will keep this blog post short as we know that all small business owners such as ourselves are always pressed for time and struggle to get everything accomplished while maintaining some sort of an otherwise normal life. Over the past few years the insurance issue has been discussed at length in the media and among small business owners as the health insurance requirements have continued to increase and put administrative demands and financial pressures on businesses of all size.  Aside from health insurance, worker compensation, and general liability insurance, there are a number of other insurance products that are available to small businesses that can help provide some protection to the financial strength of the business as well as help to minimize the disruptions caused by unforeseen circumstances that every business will face. Most small businesses do not have the financial capital or reserves to deal with unforeseen issues that arise that necessitate having to retain attorneys, perhaps paying for accidents or even failed contractual relationships.  Dealing with these issues requires the small business to dip into its operations accounts and thereby keeps that money from being used for more useful purposes such as growing the business or compensating the owners and employees for work previously performed.  As we all know attorneys’ fees can also cause a significant disruption in a business’s financial planning, as most small businesses do not set aside a legal budget...

Start Those Projects You’ve Been Avoiding

This past weekend I started and completed a project at my house that I have wanted to do for months. I have known it needed to be done, but frankly I built up the scope of the project in my mind to the point where I was sure it was a several day project, so I kept putting off even starting it. When I finally committed to actually doing it, and spent some time on some Internet research (Thank you Pinterest!), I discovered there may be a way to complete the project in far less time and with far less work than I thought I was going to need. I would up finishing the project in a manner of hours (much of which was just waiting), and the results were far better than I had ever hoped to accomplish. Businesses of all kinds (including ours) have lots of projects that the owners know should be done, they want to get them done, but find other things to do and never seem to find the time to get those projects finished. Then of course we build up the amount of work really necessary to finish the task, and then it seems insurmountable, so we just never start. Whether it is cleaning up corporate minutes, preparing financial analysis, reviewing and perhaps preparing employment agreements including non-competition or non-solicitation agreements, reviewing lease terms, etc., we encourage you to just start the project you and your business have been avoiding and seek help if you need to. You likely will find that the time needed and cost involved not only was worth it,...