<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=905697862838810&amp;ev=PageView&amp;noscript=1">

BusinessHub

SWBC's BusinessHub blog is a one-stop resource for business owners and company decision makers.

 

Exit Your Business on Your Terms with a Documented Plan

Planning your business exit can be a daunting task. Between building business value, developing capable successors, and figuring out exactly what you want to do with your life after you sell or leave, business exit planning is an easy task to put off. In my experience, business owners usually need help with exit planning if they wish to exit on their own terms.

Read More

Does Your Business Need Inland Marine Insurance?

Does your business transport goods from one place to another? If you do, then you need to know about Inland Marine insurance and how it can help protect your business and the things you transport. Learn the ins-and-outs about this insurance so you can make an informed decision on whether or not your business needs Inland Marine insurance.

Read More

[Case Study] How One Company Gained Better Negotiation Power on Workers' Comp Rates

In 2002, with just a toolbox in hand, Craig Scott began his quest to create a highly successful residential remodeling firm. He had his sight set on building a business, atypical to your normal run-of-the-mill construction and remodeling company.

Today, with more than 25 full-time employees, Craig Scott continues to expand his business—in both clientele and employees—while focusing on what he’s most passionate about doing—building.

Read More

Workers’ Compensation: Unique Approach in Texas

Workers’ compensation is a state-regulated insurance program that helps people with work-related injuries and illnesses. Employees covered by workers’ compensation get medical care to treat their injuries and illnesses.

Read More

How Student Loan Programs Could be the Key to Employee Retention

Employers are consistently touting the importance of their employee benefits program as a key tool in the recruiting and retention of talent. It has also been reported through the Society of Human Resource Management (SHRM) that 60% of employees consider their benefits an important aspect to overall job satisfaction.

Benefits are no longer a secondary consideration for prospective talent, and employers understand that to keep valuable employees they must focus on providing the right benefits for their employee population.

Read More

How to Determine Business Valuation for Buy-Sell Agreements

If you're a business owner, it's wise to educate yourself on the ins and outs of buy-sell agreements. A buy-sell agreement:

  • Establishes a plan for fair transfer of business ownership to the business' remaining owner(s)
  • Sets a clear path forward for the business
  • Assists the remaining owners with funds needed for the purchase by using life insurance

When we discuss buy-sell agreements, we often talk about what those agreements consist of, what transfer events they cover, why agreements need updating as your shareholders and company grow and change, and how decisions about whether buyouts are mandatory or optional may change. Here, let's talk about a critical component of buy-sell agreements, business valuation, and the three most common valuation methods.

Read More

Understanding Errors and Omissions (E&O) Liability Insurance and How It Can Protect Your Business

Errors and Omissions (E&O) Insurance, also known as Professional Liability Insurance, can be somewhat cumbersome to understand, but we hope this blog guides you in the right direction to break down the complexities of it so you and your business are properly covered.

Read More

Reference-Based Health Pricing

As a business leader who must manage the rising costs of health insurance, what would you say to someone who could offer you a program that provides price transparency while adopting a fair market value approach to costs? Sounds interesting, right? What if that program required a significant up front effort by you, your business leaders, and your employees? Still interested? Reference-based health pricing (RBP) is a healthcare concept that is not particularly new to the industry, but relatively new as a technique that employers can use to help control benefits spending.

Read More

Trends in Professional Liability Insurance

Over the past several quarters, there has been a steady positive growth trend for Professional Liability Insurance. Sometimes referred to as professional indemnity insurance, but most commonly known as Errors & Omissions (E&O) insurance, this type of liability insurance helps protect individuals and companies who provide professional advice and/or a professional service. It helps to cover costs associated with defending against a negligence claim made by a client. Professional liability insurance is an absolute must for business owners that provide a professional service.

Read More

How to Protect Your Business from Ransomware

In the age of information, today's most valuable currency is customer data. Over the years, especially in recent years as cyber breaches have increased in frequency, the public demands that businesses take preserving customer information very seriously. Most companies understand the significance of asking for and storing their customers' data and do their best to safeguard this valuable asset. However, with hackers adapting and finding ways around security features, ransomware continues to be an ongoing problem for businesses and organizations.

Read More