How to Create a Safer Workplace in Any Industry
Posted: June 4, 2024
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National Safety Month in June serves as a crucial reminder of the importance of safety in every facet of our lives. The significance of safety plays a significant role in the place where most of us spend most of our week: the workplace. Business owners should prioritize safety as it directly impacts employee well-being, productivity, and overall success. Ensuring a safe work environment reduces the...
Navigating Large Loss in a Small Business
Posted: May 19, 2024
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Having your own business can be an extremely rewarding endeavor. All businesses encounter risks, but successful ones know how to approach those risks in a calculated and strategic fashion. However, even calculated decisions sometimes cannot predict situations that lead to financial loss. Specifically, business losses occur when operating expenses exceed the revenue earned during a certain period. A wide range of variables can lead to...
Strategies to Combat Employee Theft
Posted: May 4, 2024
Employee theft is a major issue that many business owners must unfortunately confront, damaging employer-employee trust and creating an intolerable financial burden on operations. Taking proactive measures to prevent and address instances of theft is crucial to protecting the business community. On average, workplace theft results in a staggering $50 billion in losses each year. The Alarming Scope of Employee Theft The growing prevalence of...
The Cost of Not Having Business Insurance
Posted: April 19, 2024
Running a business comes with many risks, from property damage to legal liabilities. While some business owners may see insurance as an unnecessary expense, the cost of failing to have adequate coverage can far outweigh the premiums paid. It is essential to understand the potential consequences of operating without business insurance. Financial Losses from Property Damage Property damage can occur unexpectedly due to natural disasters,...
A Small Business Owner's Guide to Financial Literacy
Posted: April 4, 2024
Financial literacy is the foundation of sound financial management; for small business owners, it's essential for success. With April being Financial Literacy Month, there's no better time to learn more about the fundamentals of financial literacy that every small business owner should know. Budgeting Basics for Small Businesses Budgeting is crucial for small businesses to manage finances and achieve their profit goals effectively. To effectively...