Starting a successful business normally involves performing research and due diligence to gain an understanding of the particular industry with an eye towards taking the proper steps to ensure that your presence in the marketplace is adequately protected from unfair competitors.
I wish that it was as easy as just filing a form with the State and you have magical tax savings and bullet-proof asset protection, but that’s simply not the case.
Having an Employee Handbook can make a huge difference in deterring a future lawsuit with employees. It can also help you tremendously in creating a more positive work atmosphere and increasing efficiencies. A properly drafted Handbook sets forth the guidelines, expectations and most importantly the policies of your business.
Many don’t realize the it can even be harder for an entrepreneur to get back on their feet when both their business and personal belongings are destroyed in a disaster or emergency.
Some business owners who want to save on employment taxes treat employees like contractors and 1099 them rather than set up payroll with a W-2. BEWARE!!
The main purpose of this type of company is to provide a sort of ‘public awareness’ that your company is different and better than others. As such, your company will need to exemplify various practices and policies that show you are more concerned about benefiting the public through social or environmental causes than simply making profit.