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Arlington Heights business law attorneyHuge, multinational companies seem to always be hiring. Proof of this can be seen in a typical Walmart where touchscreen application kiosks have replaced resumes and cover letters. Of course, a large company like Walmart may have a constant need for new employees, but it is also better insulated against hiring mistakes. As a small business owner, hiring the wrong person can be quite costly, and the process itself can consume valuable time and resources. Fortunately, there are some things you can do to prevent expensive mistakes and to make the recruitment process more efficient.

Know the Landscape

You may think you know where to find the best candidates, but are you certain? Before posting a job opening, it is a good idea to do your homework on where to find qualified applicants. This could include various online job posting sites, as well as local colleges, universities, and trade schools. You may be surprised to learn that there are more qualified candidates looking for jobs than you initially thought.

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Illinois business law attorneyOne of the most challenging things a business owner must do is manage his or her employees. Unfortunately, this sometimes means terminating an employee’s job. There is no possible way to eliminate the sting and awkwardness of letting an employee go, but there are some ways to prevent the situation from becoming more painful or dramatic than necessary.

Modify Hiring Practices to Avoid Needing to Fire Employees

One of the best ways to avoid having to terminate employees is to focus on hiring employees who are a great fit for their job. When you hire an employee, be very clear about what the job entails and the expectations you have for the person in the position. The more a candidate knows about a job, the more accurately they can assess if it is the right job for them. Furthermore, doing adequate research about potential candidates can help you determine if they would be a good fit for your business.

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Illinois business law attorneyAfter the Parkland school shooting in Florida last month, many people were shocked and saddened. The shooting, which left 17 students and faculty members dead, has reignited the debate over gun laws in the United States – especially the controversy regarding semi-automatic weapons and accessories like bump stocks. Several corporations have changed their business practices in order to be consistent with their political and social beliefs.

Social Risk Should Be a Consideration for All Businesses

There are many complex factors that a business owner must be worried about. In addition to managing employees, expenses, income, and marketing strategies, businesses now must consider “social risk” when making business decisions. Social media allows people to share information instantaneously. A company who makes an offensive “tweet” on Twitter can expect that tweet to be shared thousands of times within hours. Businesses, whether they like it or not, have been pulled into the political realm. Everything a business does or says is noticed by consumers.

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Illinois small business attorneysAny small business owner knows that it takes a substantial amount of money to start a small business. It is not uncommon for business owners to take out loans or acquire other debt while they are in the process of starting their business. If you are a small business owner, you are probably worried about debt frequently. Unfortunately, going into debt is often an unavoidable part of having a business, but there are some ways to manage this debt so it is less overwhelming.

1. Keep Track of Your Expenses, Revenue, and Credit Report

Before anyone can tackle their debt, either personal or business-related, they must know their current financial status. Although record-keeping is tedious and time consuming, it is critical that businesses keep track of their expenses and revenue. Additionally, experts suggest keeping a close eye on your personal and business credit scores. A credit report from one of the three main credit bureaus will show you what debt you have and to whom. It can also give you a chance to dispute paid or inaccurate debts which may be negatively affecting your credit score.

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b2ap3_thumbnail_small-business-red-tape-regulations.jpgBeing a small business owner is unlike any job in the world. Challenges like finding the starting funds for a business, hiring good employees, marketing your business, and tax compliance are difficult obstacles to overcome. One such obstacle, which according to some is stifling small businesses across the U.S, is the burden of government regulations. The Code of Federal Regulations has grown to an astounding 175,000 pages. Many of these regulations can become quite problematic for small business owners.

Illegal Cookies Could Land Business Owner in Jail

One example of this regulatory burden has been making life difficult for a small bed and breakfast in Wisconsin. The owner of the B&B serves cookies and other baked treats for her guests. She takes pride in her work, but selling the baked goods could result in the owner being imprisoned for up to six months. There is a rule in Wisconsin law which mandates that if she wants to sell them, her baked goods must come from a commercial kitchen. So, if this B&B owner wishes to sell her cookies, she must find a way to finance an entire commercial kitchen. The cost of installing a kitchen of that magnitude would cost the owner an estimated $50,000.

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