How Your Small Business Can Thrive

Nearly half of all new small businesses close down within the first five years. About two-thirds of new establishments aren’t able to make it passed a decade.

These stats aren’t the most motivational numbers for future entrepreneurs or small business owners, but if your business is able to survive the first five years, you will have a much better survival rate.

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The 3 Surprising States Perfect for Retirees

Nearing the age of retirement? Ever thought about moving to a different location to get the most out of your retirement fund? Well if you are, I know that there are a lot of things to consider like health care costs, living expenses, weather, and much more.

Ensuring that you have enough money to live comfortably is essential for any retiree. The last thing anyone wants to do is spend all of his retirement money and resort to going back to work. Therefore, you need to make sure that the place you decide to live isn’t just a vacation home, but a permanent residence that you are going to live for the remainder of your life.

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SURPRISE! Small Businesses Matter!

Did you know nearly 25 million small businesses account for about 60% of all US jobs [1]? Small businesses are an important asset to our country’s growth, and you’d be surprised at how much of these local businesses contribute to our economy.

Small businesses are officially defined as a company or firm with fewer than 500 employees [2]. Although 500 employees may seem like a lot, compare that number to a large corporation like Wal-Mart or Apple who have tens of thousands of employees across the United States. Don’t get me wrong, these large corporations also have tons of benefits and serve a high purpose when it comes to our economic growth; however, small businesses should not be overlooked just because they are lesser known.

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Why Company Culture Is So Important

A lot of businesses underestimate the value of workplace culture, and I am here to tell you NOT to do the same. You’ve probably heard of the unique culture behind various tech companies like Google or Facebook. Notice how everyone would love to have the opportunity to work at either one of these companies. Although you won’t have the same versatility or budget as these large corporations, you can still create an atmosphere that would want employees to work for you.

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Why Businesses Should Use a PEO

So what is a Professional Employer Organization or PEO?

A PEO is a company that provides a service in which an employer can outsource employee management tasks [1]. How? Well PEOs co-employ with different businesses to adopt and pool all of their employees together, so they can receive better rates on health insurance, workers’ compensation, and state unemployment [2].

With that being said, why should your business utilize the services of a PEO?

Well, a PEO handles all your HR needs like payroll, administration, employee health and retirement benefits, workers’ compensation insurance, state and federal compliance issues, and even worker training.

Therefore, you can leave these administrative responsibilities to a PEO, so you can focus on your core business like finances and customer retention. You’d be surprised at how much time you spend on employee management, and the amount of profit your business can make from outsourcing these tasks.

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The New Trends in HR

The HR department has drastically changed over the last decade or so. With the constant fluctuation in our economy and the new developments in technology, businesses have been modifying HR tasks and the way they function.

So how are companies utilizing their HR department now? Well, you’d be surprised at the various duties and priorities that have businesses have adopted in hopes of a better ROI. Business leaders are trying to find ways to create a better business and to keep their employees satisfied.

But what are the new trends that business owners are using? Well, luckily for you I have a thorough understanding of the direction most companies are heading towards in terms of human resources.

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