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ALM Small Business Adviser

Insights for small business owners from experts in finance, law, real estate, insurance, benefits and other industries.

Best Practices

8 Ways Secure 2.0 Act affects retirement plans

Nick Strain | February 22, 2023

As a small-business owner, there are new rules, and tax breaks, you should be aware of.

Best Practices

DOL violations: A refresher on child labor laws

Meredith Plummer | February 15, 2023

Failure to comply with federal and state labor laws when employing those under the age of 18 can result in significant fines for employers.
Best Practices

Four benefits of quickly reporting workers' comp claims

Dimitrius King | February 13, 2023

Promptly reporting worker injuries protects the employee and the employer in multiple ways.
Best Practices

Protecting insurance information through a natural disaster

Grant Gibson | February 10, 2023

Cyber attackers won’t hesitate to target companies during the most devastating times, so preparation is vital to protect company data.
Profile

Insights on transitioning from the corporate world to a successful entrepreneur

PC360 Staff | February 06, 2023

Lorenzo Bates shares why he left corporate America to become his own boss.

Best Practices

Data privacy issues in 2023: Which trends should companies be watching?

Dr. Viola Bensinger, Gretchen A. Ramos, Jena M. Valdetero & David A. Zetoony | February 03, 2023

Here are five issues in the data privacy and cybersecurity space that businesses may see trending in 2023.
News

Late payments create major pain points for small businesses

Patricia L. Harman | February 01, 2023

The economy and economic uncertainty are affecting sales and payments for small business owners.
Commentary

Start 2023 off right with strategic planning and goal setting

Nick Strain | January 30, 2023

A new year is a good time to implement plans to supercharge your business.
Small Business Tips: Protecting an Artisan Contractor Business and Managing Risk

John McGowan | January 23, 2023

It’s paramount for artisan contractors to protect their livelihoods, because specialized skillsets come with unique insurance needs.
3 Keys to Creating a Safe Small Business

Dan Killins | January 18, 2023

Work-related injuries can lead to unplanned staffing shortages, lower team morale and decreased productivity.

6 Common Employee Handbook Mistakes to Avoid

Susan Potter Norton and Melanie Matamoros Cruz | January 11, 2023

Start the new year with a review of your employee handbook.
Profile

Lessons From a CEO: South Florida Business Transplant Tim Holt on Running a Successful Startup

Raychel Lean | January 05, 2023

"Miami has already achieved a lot, but I feel like it’s on the verge of that next level and I like being a part of that movement, of the ecosystem that’s creating that from people from all over the place doing all kinds of different things," said Tim Holt, president and CEO of R2 Technologies.
Workers' Compensation: Tips for the Small Business Owner/Uninsured Employer in Non-Construction Industries

Alexandra Duryea, Kelley Kronenberg | December 19, 2022

It is best practice to have policies in place so that if you are ever faced with a claim for workers’ compensation benefits, you can limit exposure as much as possible.
Small Business Owners and Insurance Coverage: What to Know

Patricia L. Harman | December 14, 2022

Small businesses face numerous challenges to success and Pie Insurance CEO and co-founder John Swigart shares how the company uses tech-enabled insurance to serve this unique market.
5 Ways Small Business Owners Can Prepare for a Recession

Mark Kravietz | December 12, 2022

Flexible business owners are the ones who survive recessions and challenging times.

Inflection Points in the Business Lifecycle

Shawn Alexander, Bank of America Global Commercial Banking | November 28, 2022

As the Miami business market continues its incredible growth surge, small and middle market business owners are constantly facing decisions that can…
Can Small Businesses Offer Holiday Deals With Inflation This High?

Raychel Lean | November 25, 2022

"The forces have combined to force most small businesses to raise prices to remain in business," said Ben Johnston, COO of small business financing company Kapitus.
4 Things Small Business Owners Should Do to Prepare for Year-End

Nick Strain | November 23, 2022

This four-part checklist will put you in the habit of looking ahead and maximizing your tax benefits.
Biden Administration's Proposed New Independent-Contractor Test Can Impact Your Company's Bottom Line

Paul Lopez and Brittany Hynes | November 16, 2022

Companies routinely use independent contractors for special projects and isolated assignments as a way to cut down on the normal costs connected to…
'Tis the Season for Small Businesses to Hire Temporary Holiday Workers. Here's What to Know

Raychel Lean | November 14, 2022

Here are some tips from Amanda Hahn, chief marketing officer at HireVue, to ensure hiring is nothing but an easy check mark on your long holiday to-do list.

Small Businesses Are Still Missing Out on Government Cash

Howard Makler | November 09, 2022

With PPP loans long gone, leftover government tax credit funds like the Employee Retention Credit may be the financial resources small businesses need right now.
Holiday Season Survival Guide for Small-Business Retailers: Expect an Increase in Customer Returns

Raychel Lean | October 26, 2022

Returns during the holiday season are inevitable, so the name of the game is retention optimization—of customers, dollars and product.
Small Businesses Are at High Risk of Cyber Attacks. Here Are 5 Steps to Lower Your Risk of Data Breaches

Al Pascual | October 24, 2022

Cyberattacks on small businesses have risen in 2022. Here’s how and why.
Preparing Your Company for a Liquidity Event: Who Should Be on Your Team?

David K. Black and Marlene M. Duarte | October 21, 2022

In addition to ensuring your business will sell, and for as much after-tax proceeds as possible, assembling the right team will also make the sale process much less daunting and stressful.
Are These the Most Confusing Office Software Tools?

Raychel Lean | October 19, 2022

"These results show that as companies implement digital adoption strategies, it is vital that their employees are well supported to ensure that the approach is implemented effectively and brings clear benefits rather than confusion," Digital-adoption.com said.

Transferring Wealth to the Next Generation: Dos and Don'ts

Roxanne Alexander | October 17, 2022

Bringing up the topic of future wealth transfer sooner rather than later can be advantageous.
Best Practices

Research

Many Workers Willing to Accept Pay Cut to Work From Home

Erik Sherman | October 12, 2022

Many workers saw the ability to work from home 2-3 days a week as worth 5% of pay, with higher valuations for women, people with children and those with longer commutes.
Most Small Businesses Feel Unprepared for a Cyberattack. Here's What to Know About Cyber Risks, Coverage Options

Steve Hallo | October 06, 2022

Around 40% of small business owners believe a cyberattack would cost less than $1,000 and fewer than three months to recover from.
Commentary

What Is Quiet Quitting and How Can Employers Address It?

Josh Merrill | October 05, 2022

Having disengaged, less productive workers is an issue, and indicates a dissatisfied, underperforming workforce.
Why Video Content Is Having a Reel Moment For Small Businesses

Jessica Goswami | October 03, 2022

If your business does nothing else in the digital marketing realm this year, and your goal is to see any online growth, do not skip out on short-form video content.

Best Practices

Small Businesses Have a Unique Advantage as Labor Shortage Persists

Raychel Lean | September 30, 2022

Hiring has remained a persistent concern throughout 2022, which means workers now "see themselves in the driver's seat," according to a new report from Homebase.
How to Overcome the Unique Challenges of the Small Business Owner

Whitney Dutton | September 28, 2022

A pivotal hump for business owners is to get to the point where you can hire staff to handle admin tasks to allow you to focus on incoming-producing activities.
Expert Opinion

Group Health Insurance for Small Businesses: What You Need to Know

Marcus Newman | September 26, 2022

There is a little-known aspect of the Affordable Care Act that makes group insurance very accessible for small businesses.
Best Practices

3 Payroll Tax Considerations for Small Businesses

Tom Lindsay | September 23, 2022

If you want to alleviate the headache that comes with payroll and payroll taxes for 2022, there are a few areas to consider.
News

Don’t Spy on Employees to Ensure They’re Working, Microsoft Says

Dina Bass and Emily Chang | September 22, 2022

“Leaders think their employees are not productive, whereas employees think they are being productive and in many cases even feel burnt out,” Microsoft Chief Executive Officer Satya Nadella said.

Ransomware Protection for Small Businesses

Andrew Lipton | September 21, 2022

Small businesses are often targets of hackers because they have fewer resources in the event of a cyberattack, or that’s the common misconception.
4 Things to Know About Setting up a 401(k) and Profit-Sharing Plan for Your Company

Nick Strain | September 16, 2022

Establishing a 401(k) and profit-sharing plan can be a powerful tool to help you save for retirement, decrease your taxes, attract and retain top talent, and help your employees save for retirement.
Hot Commercial Market Creates Risk for Small Business Tenants

Chad Van Horn | September 14, 2022

To avoid falling into the trap of eviction, follow these basics.
Best Practices

Small-Business Taxes for Beginners

Katie Rass | July 29, 2022

Paying taxes as a small-business owner may seem overwhelming but there are more than 30 million small businesses in the U.S. If they can pay their taxes, so can you. Here’s what you need to know to get started.
Small Businesses Are Becoming Bigger Cyberattack Targets

Steve Hallo | September 19, 2022

The rate of ransomware attacks is slowing as demands go unpaid, according to Coalition.

Expert Opinion

Hurricane Recovery Starts Before the Storm

Scott Fouts | August 19, 2022

For small businesses, hurricane preparedness plans can be the difference not only between safe and unsafe employees, but of the ability to continue or reestablish business operations
South Florida Has a Worker Shortage, and 'Hiring Has Never Been Harder' for Small Business Owners

Joe Dysart | September 07, 2022

Meanwhile, Miami-based restaurants and hoteliers are getting a boost from a local jobs advertising blitz, which is encouraging local workers to consider the more than 200 career opportunities available in the area’s hospitality industry.
5 Financial Wellness Benefits Small Businesses Should Consider Offering

Patty Kim | September 09, 2022

To stay competitive in today’s market, offering workplace savings programs should be a central element of a businesses’ recruitment and retention strategy.
Best Practices

News

Small Business 101: Preparing for a Potential Recession

Raychel Lean | August 10, 2022

Multiple inflationary forces have combined to impact nearly every business in America. Here's what you can do to get past financial obstacles (and there is some good news).
Want to Offer Abortion-Related Benefits to Employees? What Small Business Owners Need to Know After Roe v. Wade Reversal

Kirsten Vignec | August 01, 2022

The following provides a brief overview of the various issues that employers will need to consider in deciding whether to make changes to their benefit programs in light of the Supreme Court’s ruling.

Know Your Number: How Much Business Income Do You Need?

Tess Zigo | August 03, 2022

As a business owner, no one is going to determine your salary, so it is up to you to figure out your magic number — the number that compensates you for your worth, the value you bring to your business and the income you want in order to be able to live the lifestyle you desire.
DeSantis’ New Anti-Woke Law: Employee Trainers Need to Tread Carefully

Joe Dysart | August 05, 2022

Florida businesses violating the new regulation, which falls under the Civil Rights Act, face hefty fines and penalties.
Analysis

How Real Estate Can Boost a Small-Business Owner’s Financial Plan

Seth Mullikin | August 08, 2022

Real estate can help you hedge against inflation and secure your retirement—and it provides tax benefits.
Analysis

News

Relocating a Business to a New Market: Key Factors to Consider

Joe Dysart | August 12, 2022

Here’s what small business consultants recommend for any business looking to jump to a new market.
3 Small But Impactful Ways to Cut Monthly Costs in Your Company

Nathan Liao | August 17, 2022

If you aren’t always searching for new ways to cut costs, you won’t be maximizing your business’s potential in the market.

Best Practices

Summer Safety Tips to Avoid Work Injuries

Jeff Corder | August 22, 2022

When temperatures increase, so do the risks facing employees. Implementing these tips can help reduce seasonal risks.
Expert Opinion

Independent Contractor vs. Employee? Misclassifying Employees Can Be a Costly Mistake for Small Business Owners

Sarah Kuehnel and Elizabeth Jozsi | August 24, 2022

Here's what small business owners need to know about the differences between an independent contractor and an employee, the tests used to properly classify employees, the risks of misclassification, and best practices to consider to avoid liability.
Best Practices

How Can Businesses Prepare for Wildfires?

Jeff Corder | August 26, 2022

Wildfires cause millions of dollars in damage to structures and burn through millions of acres each year. Businesses can protect their property with a wildfire preparation plan.
Arbitration: Embrace It or Avoid It? Considerations for Small Businesses

Douglas Ede and Loren Korkin | August 29, 2022

Here are six things to consider when deciding whether to arbitrate a claim.
Small Businesses Are at Risk for Cyberattacks. Here’s How to Address them

Julian Makas | September 12, 2022

Along with a proper response plan, small businesses should understand what not to do to avoid future cybersecurity attacks.

Are Boutique Financial Consultancy Firms a Better Fit For Startups? 3 Questions to Ask Before Hiring Them

Michael Leshinsky | July 27, 2022

Boutique financial consultancy firms are smaller firms that specialize in handling particular tasks and have the flexibility to act as an extension of their clients.
Best Practices

Preparing for the Sale of a Business: Legal Due Diligence

Joseph P. Chase | July 25, 2022

Prior to taking a company to market, there are things can business owners do to make the process of responding to legal due diligence requests less painful.
News

New Cyber Risk Targets Small Businesses

Patricia L. Harman | July 20, 2022

Companies with weak or non-existent cybersecurity are easy targets for hackers.
Best Practices

Employee Benefits Make the Difference in Recruiting and Retaining Talent

Caroline Marwitz and Paul Wilson | July 22, 2022

Although it can be difficult for smaller employers to compete with large organizations when it comes to recruiting and retaining employees, offering the right employee benefits can level the playing field.
A Post-Pandemic Company Handbook: How Small Business Owners Can Guard Against Lawsuits

Michael Landen | July 18, 2022

"With some businesses offering permanent work-from-home options, the updated handbook should address remote work guidelines such as best practices for telecommunications, documentation requirements and remote meeting guidance," labor and employment attorney Michael Landen said.

Best Practices

Insurance Helps Businesses Manage Their Risks

Patricia L. Harman | July 15, 2022

Here's what small business owners need to know about insurance risks and policies.
Analysis

Best Practices

'Help Wanted' Ads No Longer Cut It: Attracting and Retaining Staff in Today's Market

Raychel Lean | July 13, 2022

"It’s not just about: everybody wants to work from home. It’s: people want more autonomy of how they work, when they work, rather than where they work," said ADP's chief economist Nela Richardson.
Brick-and-Mortar 101: 8 Pro Tips for Negotiating Your First Retail Lease

Beth Azor | July 11, 2022

While each business and location requires unique considerations, fundamental advice holds true. The following are key pointers for anyone seeking their first storefront.
Analysis

Small Businesses Face Big Challenges in 2022. How Are They Adapting?

Raychel Lean | July 08, 2022

"Competition for talent between large and small firms is really heated, especially in a tight labor market," said ADP's chief economist Nela Richardson.
News

Introducing ALM's Small Business Adviser: What You Need to Know About This New Resource

Raychel Lean | July 06, 2022

This new resource is a collaborative effort from editors across multiple ALM brands, who'll be leveraging their expertise in law, real estate, finance, employee benefits, insurance and other areas to report on what's happening in their realms and why it matters to small business owners.