When you have worked hard to establish and build your small business, why in the world would you consider sharing the ownership of that business with your employees? The answer is the same answer you use in making your other business decisions—it could be good for business. First, the term "ownership" can be confusing. It is important to understand that offering your … [Read more...]
Tricia Drevets
Regular Contributor
Pros and Cons of Joining the Family Business
Family-owned businesses have been the backbone of the American economy since our country’s beginnings. According to the advocacy group Family Enterprise USA (FEUSA), there are roughly 5.5 million family-owned businesses in the U.S. today. These businesses contribute more than half (about 57 percent) of the U.S. gross domestic product and employ almost 63 percent of our … [Read more...]
Resources for Veterans Who Want to Start a Small Business
If you have served your country in the armed forces, you have developed unique skills and experiences that are well suited to becoming a small business owner. Veterans tend to possess many of the top characteristics of a successful entrepreneur, including discipline, leadership and risk analysis skills. In fact, according to the most recent data from the Small Business … [Read more...]
Top Small Business Ideas for Stay-at-Home Parents
If you have made the commitment of being a stay-at-home parent, you already know about the invaluable benefits of being home with your child. However, those benefits do not come without financial sacrifice. As a result, you may be looking for some ways to boost your income while being available to your family. The ideal small business for the stay-at-home parent offers … [Read more...]
Steps for Launching a Home-based Baking Business
Does this scenario sound familiar? It is a birthday party or a holiday celebration. You bring out your special cake or cookies and everyone begins raving. “These are so good. You should open your own bakery,” everyone coos as they sneak seconds. It’s true that many successful bakeries started out in home kitchens. Martha Stewart and Debbi Fields are two well-known examples. … [Read more...]
You Can Do More Than Hope it Never Happens to You: Tips for Preventing Employee Fraud
As a small business owner, you may think you are impervious to employee fraud. The carefully developed culture of many small businesses is one of “family.” You don’t steal from your family, do you? Unfortunately, employee theft is a very real problem for small businesses. The Association of Certified Fraud Examiners (ACFE) reveals that small businesses (those with 100 or … [Read more...]
What to Include in an Employee Handbook
An employee handbook is an essential tool to running your small business more effectively. A well-written handbook lets your employees know what you expect of them, and it describes what they can expect from you in return. However, as a busy small business owner, you may not know where to start when it comes to deciding what to put into your manual and what to leave out. … [Read more...]
Why Your Small Business Needs an Employee Handbook
As a small business owner, you may think that employee handbooks are only for large companies and corporations. However, if you answer yes to any of the following questions, you would benefit from having an employee handbook. Do you have staff members who question you about vacation time or sick leave? Have you created some policies for the effective running of your … [Read more...]
What’s in a Name? Steps for Choosing a Name for Your New Small Business
You have the idea. You have experience. You even have the funding in place. You are ready to launch your new business – except for one important detail. What is its name? The name of your new business plays a critical role in its success. You want a name that is unique, yet not too far-fetched. You want one that says what you do, but in a clever way. You want a name that … [Read more...]
Is it Time to Leave the Nest? How to Know When it is Time to Move your Small Business From Your Home to Another Space
Did you know that more than half of all small businesses are home-based? Home can be a great place to launch a company. You save on rent and utilities, and you can often organize your work around family commitments. Thanks to the flexibility the Internet provides, many small businesses can flourish and grow right from the home base. However, in some circumstances, you and … [Read more...]
