Business Essentials

Q.: I recently got laid off from my full-time job. My small business only makes enough to cover my business expenses. Can I still collect unemployment from my full-time job even if I have a sole proprietorship? A.: Generally, you cannot get unemployment coverage if you are a small business owner.  The purpose behind unemployment […]

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Q.: Am I required to have workers compensation coverage if I am the sole employee/owner? A.: Generally, if you are self-employed, you are exempt from the requirement to have Workers’ Compensation coverage to cover yourself.  However, the minute you add an employee, get that in place – pronto! Some states do allow you to “opt in” […]

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Q.: I will be providing a maid service as an independent contractor and will start with one or two maids but don’t know how surety bonding works. If I am an independent contractor for a maid service, do I have to bond each maid, or just have one bond for the company? Also where, and […]

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Q.: I wanted to start an automotive maintenance course to teach people how to change a flat tire, do their own oil change, etc. However, the downfall here is I am concerned that I could be held liable for any mishaps. Do I actually need to have business liability insurance? I know it is probably […]

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The Associated Press reported that there was little sign (from its analysis) that former New York state Gov. Elliot Spitzer used taxpayer money or campaign funds to subsidize his visits with prostitutes. His state-issued credit card also showed no outward sign of having been abused for extracurricular pursuits. I can’t say whether he used public […]

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The article screams “ICU Nurse Finds Joy (and Money) Launching Skin Care Line!” Alright, maybe it doesn’t scream, but it is 4am and I can’t sleep. My mind revs like a car in neutral. I go into the bathroom, where I keep my stash of light reading (“light” as in not hard news, law, or […]

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Here’s a helpful post by Chris Flett, author of What Men Don’t Tell Women About Business, outlining four important steps in developing a profitable venture.  To summarize: Set expectations Develop a style of management that all can work with Make it easy for contributors, staff, and vendors to work in the model Find a way to marry […]

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I’m full-out body length in squishy, watery mud, groveling on my elbows and knees to squirm through a tunnel. If I didn’t know better, I’d think this was Tim Robbins’s workout for the prison break scene in The Shawshank Redemption, minus the stench. At first, I’m tempted to squeal and jump out, but it’s warm […]

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“We’re like lobsters,” said Nancy. “If we don’t grow, we die.” Nancy and I are at a speaking workshop in Orlando, led by world-renowned speaker Les Brown. We’ve been through 8 straight hours of drills, one-on-one coaching, and partner feedback in a cramped conference room. I’m worn out. It’s taking all of my energy just […]

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Q.:  We are in the process of selling our C Corporation. What kind of small business insurance can I get to make a stock purchase attractive to our buyer? Also, what kinds of small business insurance are available to the buyer to protect against liability? A.:  Generally, when a buyer purchases your company stock (and, […]

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