More than three - quarters
of small business employees who participate in their firms» 401 (k) plans have well - constructed, appropriately diversified investment portfolios, according to Vanguard.
According to the United States Government Accountability Office, between 51 and 71 percent
of small business employees don't have access to a workplace retirement savings plan.
The survey found that 70 %
of small business employees would consider leaving, in comparison to employees of mid-sized companies (86 %) and large companies (74 %.)
Roughly 65 percent
of small business employees are hourly, and 30.3 percent of them worked more than 140 hours in the month of July, up from 30.1 percent in June.
If you have visited our website lately you may have noticed the promotion
of our small business employee background check system, EZ - Authorize.
Not exact matches
«What has upset
business owners more than anything are the comparisons made between the income
of small business owners and that
of employees,» Dan Kelly, the federation's president, said in an op - ed published at the Huffington Post on Aug. 25.
Further, the survey showed that most
employees of small business believed the primary role
of WorkSafe was to provide information and advice, which was double the proportion who thought its role was one
of prosecuting breaches
of safety standards.
In a report for the Office
of Advocacy
of the U.S.
Small Business Administration, Nicole and Mark Crain
of Lafayette University explained that the per -
employee cost
of federal regulatory compliance was $ 10,585 for
businesses with 19 or fewer
employees, but only $ 7,755 for companies with 500 or more.
A drawback
of being a
small business owner is that the budget for such quality, such as
employee incentives and benefits, is not as plentiful as it is for a larger company (especially in the economic climate we are living in today).
Survey respondents primarily shop at
small businesses because
of friendly
employees and product knowledge.
No matter how large or
small your
business,
employees are always appreciative
of a nice catered lunch.
As a
small business owner, you probably have a pretty good idea if any
of your
employees fall into this category.
That's the concern
of Anthony Cancela, president
of the New Jersey - based Cancela Insurance Brokerage, which serves
small businesses with between one and 300
employees.
Small businesses — i.e., those with 10
employees or fewer — have clawed their way to profitability and revenue growth without the help
of venture capitalists.
This book was pivotal for myself and my
business partner and is a significant reason why we now have a successful
business with a
small team
of employees handling the day - to - day work.
Employees who would be capable
of doing top - notch consulting work for
small businesses are expensive.
With no
employees, the Seattle - based company relies on its
small team
of contracted workers — seven, to be exact — to keep the
business humming.
Because regulatory compliance has a high fixed cost,
small businesses face a larger per -
employee cost
of adhering to government regulations than big companies.
No matter what type
of employee that is hired, too many
small business owners are making the same mistake over and over again... they are neglecting to perform professional background screenings on these
employees.
At a
small business, approval might be granted after an
employee sends a short email message because managers might make those decisions on the spur
of the moment.
Too often,
small businesses get caught in the trap
of thinking that the only resources they have are their
employees.
One
of the (many) perks
of being a
small business owner is having the opportunity to connect with your
employees — the lifeblood
of your company.
As the owner
of a
small business, recruiting and retaining talented
employees can be a challenge.
Maria Contreras - Sweet became head
of the
Small Business Administration just about two months ago, but managing
employees is hardly new territory for her.
It should also take into account definitions, like that
of a 1099
employee (especially given the growth in freelancing) and whether a franchisee
of a major corporation should be considered a
small business (my take: it should).
Dig Deeper: Choosing the Limited Liability Company as Your Corporate Form Case Study: Why an S Corp Might Be the Better Choice While Turner's story is a compelling one for a
smaller, lifestyle
business, the truth is that fast - growing
businesses that plan to bring on investors or share the ownership
of the company with
employees may need to consider making the switch to an S corp sooner rather than later.
Entrepreneur.com reached out to the honorees
of National
Small Business Week and asked them to share their best advice for hiring quality
employees.
For many
small businesses, even if it is not required, you'll buy it because you value your
employees as an extension
of your family.
Now would be a really good time for
small business owners to think about the stress
of working retail during the holidays and plan to appreciate their
employees, similar to MyCorporation.com.
Every
small business should be as transparent as possible with their
employees to create a culture
of trust and honesty.
While a
small business owner tends to get stuck in a particular market, with a particular revenue stream and low growth rate, an entrepreneur is continually seeking change opportunities to break out
of flatlined growth and find new markets, customers and
employees to drive growth.
On the other end
of the spectrum, Toronto - based Wave Accounting targets really
small businesses — those with 10
employees or less.
Handrail compliance can be one
of the more touchy subjects with
small business owners who want to create the most open space possible, either to help customers feel at ease or to promote an open workspace atmosphere for
employees.
Could the wildly increasing costs
of health care be one reason
smaller businesses are less willing to bring on new
employees?
Payroll is a boon to
employees but the bane
of many a
small business owner's existence.
A more significant move would be to restrict access to the
small business tax deduction based on the number
of employees a corporation has.
Speaking
of which, hiring for the year is slightly down — at 1.7 percent — and the average paycheck is flat, meaning
small businesses have been able to grow revenue without spending more on either new or existing
employees.
About 98 percent
of the more than 300,000 U.S. exporting firms are
small, and they account for over a third
of the $ 1.4 trillion in annual total export dollars in 2014, according to the U.S. Census Bureau, which defines a
small business as having fewer than 500
employees.
For numerous
small businesses — with tight budgets and a bevy
of rules and regulations — sponsoring a plan is simply too much
of a burden, which means that many
employees are left out in the proverbial cold when it comes to retirement preparation.
The
small business owner who clearly communicates personal expectations and company goals, provides adequate compensation, offers meaningful opportunities for career advancement, anticipates work force training and developmental needs, and provides meaningful feedback to his or her
employees is far more likely to be successful than the owner who is neglectful in any
of these areas.
Indeed, the stakes are very high in the world
of small business when it comes to
employee recruitment and management.
As Roberts, Seldon, and Roberts indicated in Human Resources Management, «the quality
of employees and their development through training and education are major factors in determining long - term profitability
of a
small business» ¦.
The current system is not only terrible for many
of the
employees of small businesses, it's terrible for the owners
of those
small businesses as well.
Small businesses generally make the switch from DIY to travel pro when they reach 25 to 50
employees and spend $ 50,000 to $ 100,000 annually on airfare, according to Anita Salvatore, executive vice president
of global account services for Travizon.
Some
of those limitations are already quite high; certain industries can have as many as 500
employees or revenue reaching $ 35.5 million (making them
small businesses only in a political sense).
The first step the
small business owner should take when pondering an expansion
of employee payroll is to honestly assess the status
of the organization itself.
If a
small business is going to have one or two administrators and a couple
of other
employees that may need access to data, MobileMe can provide total mobility for the entrepreneur and without having to invest in enterprise - grade localized servers, IT staff and the time to implement such a system.
A few safeguards every
small business should have in place include: compliance with payment card industry (PCI) standards, end - to - end encryption, properly trained
employees and no storing
of credit card information.
Small businesses also need to match the talents
of prospective
employees with the company's needs.
But a
small business with a work force
of half a dozen people will be hurt far more by such an
employee than will a company with a work force that numbers in the hundreds (or thousands).