BusinessHub

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.

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.

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.

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.

Protecting your organization is expensive. Leaders are encouraged and sometimes even compelled to provide additional resources to counter threats. As the cost of data breaches rise, regulators and your customers and business partners demand you to protect data you control. In turn, you require your vendors to protect your data. Is substantial investment sustainable and the only response to growing information security risk?

In the wake of Harvey’s punishing blow to the Texas Coast, victims of this record-breaking storm have just begun to comprehend the impact winds and flood waters will have on their ability to recover and rebuild. With initial assessment of damages at $30+ billion, costs can only be described as catastrophic. FEMA is predicting they will reside in Houston for years with the real scope and magnitude of Harvey continuing to unfold with each passing day.

In 2016, the American Institute of CPAs (AICPA) published a survey conducted by the Private Companies Practice Section (PCPS) and Succession Institute LLC. In the report, the PCPS states that less than 10% of sole proprietors and only half of multi-owner firms have a business transition plan in place. Whether you feel ready or not a business transition plan can safeguard your business and give you the power to create a smooth path for your successors. The more thorough your plan, the better.

Business owners rely on a number of partners to help keep their businesses operational, profitable, and protected from potential harm. Commercial insurance provides necessary protection from liability and loss, but how do you know you can trust your insurance agent or broker to make the right recommendations for your company? Here are some tips for finding and evaluating an insurance agent.

If done right, real estate investing can be a great source of secondary income and even become your primary source of income. Starting on the right foot and understanding the process is imperative and can save you time and money in the long run.  If you are currently a real estate investor or thinking about becoming one, here are five essential tips that every real estate investor should know-no matter where you are in the game. 

As a business leader, it is important to protect your company. It is your livelihood. One important thing to safeguard your business from are employment lawsuits. In the past 20 years, employment lawsuits have risen nearly 400%. Most are filed against large corporations, but no company is immune. Whether large or small, employment practices liability insurance policy (EPLI) is one way to protect your business from the potential monetary damages that a lawsuit can bring.