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BusinessHub

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

 

Three Benefits of Business Exit Planning

Through my work as a business advisor, I've seen firsthand that business owners have plenty to do. You're running your business, taking care of your home and family, and trying to attend to other responsibilities. Often, this existing to-do list is the reason business owners give for not pursuing exit planning. You may be unsure if it can help address important issues without taking up the little time you have remaining.

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How Employee Diversity Benefits Your Business

Companies strive to stay competitive either through the products they sell or through superior customer service. But, with stiff competition, particularly on the recruiting front, there’s another way companies across America are trying to stand out—hiring a diverse workforce. So, what does a diverse workforce look like and how can your company benefit from it?

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[Case Study] Hill Country Pain Associates

Laura Paredez, Director of Business Services for Hill Country Pain Associates (HCPA), manages the day-to-day operations and activities, and ensures that the business is run financially sound. In her role, Laura oversees all matters from vendor management to payroll administration. With a practice of 27 full-time employees and one part-time employee, HCPA brings with it its own set of employee considerations, of which by no means falls short of HR-related inquiries.

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6 Signs You're Overpaying for Property Taxes

It's the time of year when consumers and business owners alike are turning a blind eye to the pending date on the calendar: April 15. In the case of business owners with commercial property tax bills due, that date you may be shielding your eyes from is May 15—the deadline for filing property tax protests. If you own commercial property, your annual tax bill is likely a substantial expense. Unfortunately, according to the National Taxpayers Union Foundation, around 30-60% of taxable properties in the United States are over-assessed, which—you guessed it—equals higher tax bills. Sadly, even though most consumers and businesses are overpaying due to inaccurately calculated properties, it’s predicted that less than 5% of taxpayers are challenging the assessment. Are you curious if your business is overpaying? Check out the list below that features 6 sure fire ways to help you determine whether our not you're overpaying on your commercial property taxes.

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5 Steps to an Effective Benefits Communication Program

Offering your employees competitive health benefits is only half the battle. After you’ve shopped around to find a plan that works for your business, your employees, and your budget, the next obstacle you face is effectively communicating the plan benefits to your employee base. It can be a time-consuming task so we’ve compiled a list of helpful tips and best practices to help you streamline the success of your benefits communication program.

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Every Bit of Information Counts

The terms cyber security and cyber breach have become quite the common business "lingo" these days. It’s hard to browse the internet without reading a story about another company or retail establishment being hacked with millions of customer data points compromised. And, no matter if you’re a small business, big box retailer, Marriott or even a Manufacturer—you’re not safe.

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Death Can Ruin Your Business Plans

Imagine building your business over several decades, starting to plan your business exit, then dying unexpectedly before you can implement your plans. Business owners rarely think about how an unexpected death or permanent disability can derail even the most carefully created plans. When you think about it, this makes sense: if you were always worried about what could go wrong, you probably never would have started your business in the first place.

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5 Ways to Improve Your Hiring and Onboarding Process

Do you find it difficult to find the right candidates for your company's open positions? Well, you're not alone. Finding the right talent can seem like you're on the losing end of a never-ending battle because you're competing against comparable businesses looking for the best talent and other larger corporations that have more resources to utilize in the quest to find the perfect employee. But, by evaluating a few hiring tactics within your business, you can increase your chances of finding top-notch job candidates.

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The Importance of Sexual Harassment Training

Sexual harassment in the workplace is nothing new, but with the recent focus on the #MeToo and Time’s Up movements brought front and center to the internet, television, and social media platforms, many companies across America are more aware about this sensitive topic and the impact it can have on their employees and customers. According to a 2017 study conducted by CNBC, at least one in five Americans has reported experiencing sexual harassment in their place of work, with women alleging incidents more often than men, 27% to 10%, respectively1. If you haven’t already taken a good look at your own company’s sexual harassment policy, training, and insurance coverage, or lack thereof, now is a good time to take a look to ensure you and your employees are properly protected.

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Make Financial Education Part of Your Employee Wellness Plan

As you probably know, one of the most valuable and popular benefits you can offer employees is a company-sponsored retirement plan. Assuming you provide your employees with the opportunity to save for their future through a corporate retirement plan, there’s just one problem: according to the Pension Rights Center, only about half of American workers are participating in an employer-sponsored retirement plan. Unfortunately, many U.S. workers feel so overwhelmed by existing debt, bills, and household financial obligations that they are unable to find funds to save in their company’s retirement plan.

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