According to the NFIB’s Small Business Optimism Index for June 2021, a labor shortage remains the big challenge for small businesses. The numbers tell it all: 46% of all owners reported job openings they could not fill in the current period, 63% reported hiring or trying to hire in June, and 89% of those hiring or trying to hire reported few or no “qualified” applicants for their positions. The report states: “Many firms can’t hire enough workers to efficiently run their businesses, restricting sales and output.” If you’re in this situation, what can you do? A good wage, as well […]

A tax credit is a dollar-for-dollar reduction of tax liability. During COVID-19, much attention has been focused on employment tax credits for paid sick leave, paid family leave, employee retention, and COBRA payments. But income tax credits for small businesses may fit well into today’s economy and business planning, and provide significant tax savings. Work opportunity credit Your business goal: Hiring new employees. The biggest challenge facing many small businesses today is finding qualified employees. According to BLS, as of July 7, 2021, there are 9.2 million job openings. Small businesses aren’t the only ones hiring; large companies are also […]

Living on the Eastern coast of Florida, I have the ability to view many of the space launches from Cape Canaveral. They are easily viewed from my driveway and are especially beautiful at night when the fiery exhausts contrast with the dark sky (being near the ocean there is very little light pollution to reduce the darkness). We now have a new branch of the military—the Space Force. And Sir Richard Branson’s Virgin Galactic Unity 22 flight into space on July 11, 2021, and Jeff Bezos’ Blue Origin New Shepard on July 20, 2021, shows commercial possibilities.  It’s time for […]

Update: On July 27, 2021, the CDC revised the masking guidelines for fully vaccinated individuals. The CDC advised that those fully vaccinated do not have to wear masks. However, this guidance is superseded by any federal, state, or local law requiring masking. The CDC also says that businesses may set their own rules for operations and workplace guidance if they don’t violate government rules. But now, with the advent of COVID-19 variants, concerns about transmission remain prevalent. What’s a business owner to do about a masking policy for employees and customers, clients, and patients? Government rules Absent any government rules, the […]

It feels like the pandemic is over, with businesses opening at regular capacity in most states. But the future is uncertain. There could be another pandemic. Or there could be other unanticipated catastrophes that may befall your business. As part of your recovery strategies from COVID-19, it’s advisable to take the lessons you learned and put them in a contingency plan so your business can know what actions to take to protect itself. What is a contingency plan A contingency plan is a written (albeit on the computer) strategy for handling whatever situation arises. Think of it as “Plan B” […]

Your company information is vital. This information includes financial data, trade secrets, confidential employee and customer information, and more. Recent well publicized ransomware attacks show the vulnerability of just about everyone. Harvard Business Review said ransomware attacks were up 150% in 2020 and are up even higher this year. Recognize where attacks may come from It’s been reported that the most recent big ransomware attacks—Colonial Pipeline, JBS (the world’s largest meatpackers), and the DC Metropolitan Police Department—were done by Russian-based hacking groups (not the same in all cases). So it’s clear that attacks may be from external bad people. But attacks […]

This area of the law is changing rapidly and making it challenging for employers to fix their workplace polices. A year ago, our blog addressed many issued about revising your drug policy for marijuana. Since then, more states permit the use of marijuana for recreational and/or medical purposes. And courts are weighing in on some practical issues for employers when it comes to marijuana and the workplace. So, with rapidly changing laws and court decisions, what are employers to do? Here are some new developments to alert you to what’s happening now. Bumping up against federal law Technically, marijuana remains a […]

The pandemic has created a great need in a number of communities and for a number of special causes and organizations. But charitable giving is a perennial practice with an unending number of people and causes in need. According to an American Express and The Chronicle of Philanthropy report last year, charitable giving by small businesses is on average 6% of their profits. If you want to give, there are many ways to do it. And you may even get a tax benefit from your philanthropic activities. What you can donate The range of things your business can donate are […]

More and more people are working from home. The pandemic introduced many workers and business owners to this environment and, with the ebbing of COVID-19, a great percentage are staying put. The SBA estimates that about half of 31.7 million small businesses operate from home, putting the figure of owners in this position at nearly 16 million. You may have limited space, forcing you to set up office on the kitchen table or the living room couch. But if you have the luxury of a designated separate space to call your office—a spare bedroom, den, or section of a family room—it […]

The journalist’s guidelines—the 5 W’s (plus 6 if you include how)—are useful in covering all your bases for just about any activity. If your business uses Twitter to engage with customers and find new ones, apply these criteria and use some best practices for Tweeting to enhance your results and avoid problems. Who According to Hootsuite, there’s an advertising audience on Twitter of 353 million users. You just have to know how to connect with them. Understand the audience you’re trying to reach—businesses, consumers, their demographics—so you can craft your posts accordingly. Doing this will also attract followers interested in […]