As Interest Rates Climb, Defined Benefit Plans with Overfunded Benefits Rise

Defined benefit plans have long been used by business owners to maximize tax deferred gains. Depending on several factors beyond the scope of this article, an owner can save up to two hundred and sixty-five thousand dollars ($265,000) in a pension plan. The maximum amount permitted to be saved in these plans fluctuates, as determined by the Internal Revenue Service.

Virtual Team Building Activities For Remote Teams

Even before the pandemic necessitated moving to remote work for thousands of people, it’s been trending upward, growing 173 percent since 2005. Another 2018 study showed that about 70 percent of the entire global workforce telecommutes at least one day a week already. Research has found that employees who worked from home reported “higher levels of job satisfaction and reduced levels of burnout and psychological stress.” Employees that work from home can often struggle to feel connected with coworkers and the organization. By investing in remote team building activities, you can build happy, engaged, and productive remote teams.

Using Digital Marketing to Rebound from COVID-19

Cautious optimism surrounding the recent approval of the coronavirus vaccine may have us hoping for the best, but as the virus continues to rage, it’s still not business as usual. Maybe it never will be. We’ve had to pivot, to flex our agile muscles, to embrace digital marketing as never before.

What to Ask Before Buying a Franchise

If you’re considering buying your own franchise, you probably have a million questions running around in your mind; questions that can make a difference in the success or failure of your business goals.

How to Write and Deliver a Performance Review (With Example Templates)

The performance review. Dreaded equally, in some cases, by the giver and the receiver, but it doesn’t (and shouldn’t) have to be that way. If you’ve never written or delivered a performance review to an employee, or if the thought of doing a review is about as appealing as a root canal, here are a few tips to help you.

How To Get An SBA Loan for Your Company

It’s been a challenging year for small businesses. The need for extra cash may be more pressing than before as many businesses dig their way out of the COVID-19 economic crisis. Many companies, regardless of size, use borrowed capital to fuel growth and fund other initiatives. Long-term, low-interest financing makes SBA loans some of the most affordable business loans on the market, and the process of getting an SBA loan can be lengthy and involved (but worth it).

PPP Round 2 and the December Stimulus Bill

On December 20, 2020, both chambers of Congress announced that they had agreed on a new stimulus bill, which the President ultimately signed into law. Here are the key issues the bill addresses for small business owners.

What to do When Generations Clash

I’ve just returned from the EO President’s Meeting in Dallas, Texas, USA, where one of the biggest topics was the significance of delivering value to members in order to ensure retention. Like most organizations and companies, acquiring a new member (or customer) is very expensive and time-consuming. It seems obvious that, once you’ve acquired them, retaining members should be a heavy area of focus for any leadership team.

Time Management for Entrepreneurs

5 Self-Employed Tax Rules You Want to Know Now

According to Pew Research, close to 15 million Americans are self-employed. Filing your taxes when you’re self-employed means you’re having to deal with a range of new tax rules and regulations that you’ve never dealt with for personal taxes.

Online Tools for Better Business

Despite the economic stranglehold impacting the business world, there are a lot of inexpensive online resources that can help you set your business up for success. Here are a few of the best Web sites I’ve come across, and what they have to offer.

Buying a Business? Start Here

Buying an established business has its advantages. For example, when you buy a business, you take over an organization that’s typically already generating revenues. There’s also usually a customer base, an established business reputation and existing operational procedures. However, just like any kind of investment, there are risks as well. It is important to do the necessary research and understand the factors that may affect the success or failure of your venture.

How Healthy Are Your Books? Here are Six Questions to Unlock Answers

I visited a friend the other day who runs a well-organized business and keeps a meticulous office. Every desk is tidy, every scrap of paper is in a binder or folder, and everything is labeled and filed alphabetically and by year. And yet, despite all this organization, he never quite feels in control of his business.

PPP Forgiveness: What You Need to Know

It’s important to understand the instructions and fill out the PPP loan forgiveness application. While the current form will need to be updated based on the Paycheck Protection Program Flexibility Act, this application needs to be submitted to the PPP lender you are working with.

Are You Using the Best Time Tracking System for Your Organization?

If you have hourly employees, you know how important it is to keep an accurate and compliant record of employee hours. On paper, this is challenging, and it has traditionally created a significant administrative burden for the human resources (HR), payroll, or project management departments.

The Do's and Don't's of Social Media Marketing

Social media is an ideal way to engage with customers and potential customers, and drive people to your business site. But that doesn’t make it simple. There are plenty of potential potholes in social media marketing. Maybe your Facebook page is popular, but your Instagram account isn’t. Perhaps you’ve noticed that your competitors have been amassing followers at a higher rate than you.

Simple Ways to Refresh Your Brand

A brand refresh is critical for all companies, from worldwide organizations to small local businesses. “As businesses grow and change, it’s important for their brands to reflect the current marketplace.

Why Every Startup Needs to Shift Its Focus From the Checkbook to Cash Flow

After 24 years of raising children, my wife and I will become empty nesters soon. When I see a young couple with children, I think, “How the heck did we raise three kids into responsible adults?” That feeling reminds me of what starting a business can be like: It’s expensive.

Should You Fear Outsourcing Your Software Development?

Yes. But only if you are not clear on how to make the correct partner selection. Written by Mike Scott, co-founder and CEO of NONA, a software development studio based in South Africa.

Worried About Regulation? How to Prep Your Business Early for Lifelong Compliance

hortly after the European Union enacted its General Data Protection Regulation (GDPR), France’s regulators fined Google $57 million for violating the privacy law. That fine might not be a huge deal for a company the size of Google, but the message to the world was loud and clear: All companies will be held accountable for compliance.

3 Ways to Apply an Agile Mindset

I admit it. I was a traditionalist. For a long time, I followed a one-step-at-a-time approach to project management.

5 Critical Steps to Solving Your Business Problems for Good

Are you a small business entrepreneur whose leadership team lacks cohesion or focus? Or maybe you’re running a start-up that can’t reach your next revenue goal? Is your company’s leadership team constantly seeing the same issues popping up?

Work On Your Business, Not In Your Business

If you’re like most business owners who often search for opportunities and business advice at odd hours of the night, you’ve probably come across the advice that you should spend more time “working on your business, not in your business.”