Your employees need to know what you expect of them. Moreover, they need to know what you expect them not to do. You need policies and procedures in place to handle a variety of issues, some of them legally required. Your employees also need a clear indication of what they can expect in terms of compensation, which can encompass more than just payroll.
This blog has covered the need for business owners to have an estate plan in place. Many people might not realize that the will has to meet specific requirements if it is going to be considered valid under Arizona law. There are many factors that business owners need to think about since the will can impact the company and their family members.
Discrimination is one action that can quickly ruin a business. When you are the one who is in charge, you need to ensure that none of your employees are having to deal with this type of behavior. There are several forms of discrimination that can occur in the workplace, so knowing a bit about this atrocious behavior might benefit you.
When a business opportunity presents itself, you don't want to pass it up, even if it is a venture you know you cannot handle on your own. Searching for the perfect partner to invest in commercial real estate, sell your product or offer your service is not as easy as scrolling down your social media friends list. You must reach your choice through careful consideration, long conversations and diligent investigation.
Choosing a business structure is one of the most important decisions you have to make because it can affect your company and your personal life. One thing that people don't realize is that if you start a company as a sole proprietorship, disgruntled people can come after your personal assets. For this reason, many people opt to use a limited liability company (LLC) as their business structure.
Around 30% of business owners haven't taken the time to create an estate plan. These individuals might not realize that they are putting the company, their employees and their family members at risk by overlooking an estate plan. The reasons for not creating a plan vary greatly. They may feel they have plenty of time, or they might think that nothing will happen to them. Some think that it will take too long to get the plan established. None of these are good reasons. The bottom line is that every business owner should have an estate plan in place.
Owning and operating an Arizona business means having to be ready to handle conflict. Though you may enjoy your job the majority of the time and have found ways to handle more common issues that arise, you may still end up in difficult predicaments in which resolutions are not so easily found.