How small businesses should approach insurance coverage and mitigate risk
Many small business owners only have a certain budget for insurance, so a strong relationship with an insurance agent who takes a proactive approach to mitigating risk and protecting their business is key. The cost of business insurance is not prohibitive, but replacing offices and not being able to work because of a loss can […]
How the Affordable Care Act rewards employees in wellness initiatives
Since its enactment in 2010, the Affordable Care Act (ACA) has garnered a great deal of attention, political and otherwise, for the far-reaching changes that it brings health care and health insurance. However, as stakeholders across the country prepare for its implementation, some of the law’s provisions have escaped widespread notice. Among these are rules […]
How to manage retirement plans during a merger and acquisition
During a merger and acquisition (M&A), both the buyer’s and seller’s retirement plans have ramifications on the deal and its aftermath. “Make sure you get the right people involved in advance of any acquisition, whether you’re a buyer or seller,” says Don Dalessandro, QPA, QKA, Vice President of Finance at Tegrit Group. “It can be […]
How to ensure you’re protecting all of your company’s IP assets
Traditionally, businesses protect their intellectual property (IP) with patents and trademarks. These patents are generally utility patents, which protect the function or use of a product. Trademarks protect the name or logo under which a product or service is sold. A more meaningful protection for businesses could include design patents and trade dress, says Barry […]
How to understand the ACA’s minimum essential benefits, costs
Starting next year, the Affordable Care Act requires individual and small group insurance plans to cover 10 “essential” health benefits. But, these minimum essential benefits go beyond the coverage that many individuals and small businesses purchase today, so plan costs may increase to meet the coverage requirements. “Regardless of your funding type, whether you’re self-funded […]
How executives should approach directors and officers insurance
As the economy begins to improve, with increasing sales and corporate profits gaining some momentum, now is a good time for companies to consider directors and officers liability insurance to help secure their growth. Smart Business spoke with Philip K. Glick, senior vice president at ECBM and a registered professional liability underwriter, about some issues […]
How restaurants and bars can use technology to gain a competitive edge
The restaurant and bar industry is highly competitive, and many owners struggle every day to stay in business. The right technology can help restaurants and bars gain an edge, while improving back-office operations and guest experience. Recently, Comcast Business conducted a poll of LinkedIn members in the hospitality industry. Of the more than 700 respondents, […]
Why all business values are not created equal
How can a business be worth both $1 million and $700,000? It depends on what type of value is being determined. “A business owner may think that if a business has a value of $1 million, it means that he would have $1 million in his pocket upon a sale. One must look deeper, however, […]
How to prepare for Department of Labor benefit plan audits
The U.S. Department of Labor (DOL) has increased its compliance enforcement efforts and is expected to conduct more benefit plan audits to determine if the companies that sponsor them are meeting those requirements. “This is an area of focus for the DOL. A lot of time was spent preparing fee disclosure regulations, and follow up […]
How having a happy workforce translates into good customer service
Customers can tell when an employee doesn’t like his or her job. “Even if it’s over the phone, you can sense if the person is smiling and the energy they have,” says Rick Voigt, president of Today’s Business Products. “Morale is what it’s all about. You can have the greatest company and greatest product, but […]