A CEO’s Guide to Personal Guarantees

When exploring finance options for your business, the provider of a business loan or other source of funding may ask you to provide a personal guarantee. Although a personal guarantee is not uncommon, there seems to be a lack of understanding from small business owners about exactly what it means.

CEO personal guarantee

Research by an SME loan provider found that more than half (55 percent) of 510 SME senior decision makers did not know what a personal guarantee was. 21 percent of those thought it was a commitment from the business owner to repay the money to their best of their ability, while 61 percent believed personal guarantees related to business rather than personal assets.…

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Catching Workers Comp Fraud Committed by Employees

Workers compensation is a federal program that requires employers to pay for medical and compensation benefits if their employees become injured or disabled while working at your place of employment (each state has its own set of workers’ comp laws). Work injuries can be anything from carpal tunnel syndrome from repetitive mouse/computer use to hurting your back during a fall on company property.

Worker comp covers back injury

The workers’ comp laws were put in place to provide the injured workers with fixed monetary awards to help prevent litigation and give the employees and their dependents a chance to stay afloat financially while being out of work.…

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The Importance Of Notarization

Some wonder what the fuss is all about when it comes to getting a legal document notarized; what it is and why it is important. Getting a document notarized by a notary public means you are getting a document verified for its identifying authenticity and its purpose. Essentially, the notarized document will protect the signer and the purpose of the document.

Legal document notarization

Today, we will discuss some examples of legal documents that need to be notarized and why it is important to do so.

Affidavit

Affidavits are statements that are confirmed by oath or affirmation. Affidavits are one of the most common legal documents that need to be notarized.…

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5 Ways to Avoid a Personal Injury Claim

When you launch a business, general liability insurance might seem an unnecessary expense. But you may soon discover it’s an essential component for every business.

Preventing workplace injury

It protects you against risks you didn’t know you would face when you started. For example, if someone gets injured on your property, he or she has a legal right to pursue compensation through a personal injury claim.

Your liability insurance will help to protect you against such claims, but you surely don’t need the hassle of a lawsuit or record of an injury to someone on your conscience. Take the following proactive steps toward prevention of personal injury incidents on your property.…

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4 Risks All Workers Are Most Frequently Exposed to Working in Construction

America’s landscape is changing. While natural disasters are partially responsible for the transformations taking place, manmade alterations are primary factors here as well. New homes and commercial buildings are continually going up across the nation. Though progress is necessary, it often comes at a price for those on the ground fostering those construction projects.

4 common dangers faced by construction workers in Philly

Looking at the Numbers

According to a 2016 report from OSHA, the Occupational Safety and Health Administration, more than 20 percent of that year’s private-sector worker fatalities occurred in the construction industry. In other words, about one in five work-related deaths was the result of a construction site hazard during that year.…

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3 Tips For Protecting Your Small Business When Going Through a Divorce

While running a business in and of itself can be challenging, this task can become even more difficult if you have personal issues that are bleeding over into your professional life. Although you might try your best to keep things separated, big personal issues are bound to creep into your business life on occasion.

Divorcing small business owners

One of those occasions where there’s likely to be some overlap is a divorce. But not only could this make this messy with your business, but it could also cause irreparable damage if you’re not careful.

So to help ensure that this doesn’t happen to you, here are three tips for protecting your small business when going through a divorce.…

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How Police Officers Keep Businesses Safe

Businesses need to be safe and secure in order to properly serve their customers, and protect employees from harm. Many have registers full of cash, and other expensive items like computers and other valuable equipment. It’s vital that businesses are protected from thieves, burglars, and other criminals. Thankfully, we have law enforcement agencies which provide trained police officers to safeguard these businesses and maintain order.

Police help keep businesses safe

In order for the police to properly do their job, a variety of tools, equipment, and training are required. This includes uniforms, badges, weapons, handcuffs, and much more. They also undergo costly and intensive training to most effectively perform a broad range of responsibilities and duties designed to keep businesses safe.…

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Driving While Impaired – Meaning, Standards, and Penalties

Are you using vehicle for running your business? If so, make sure you’re paying close attention to what you and your staff is doing on the road.  Specifically, your compliance with the laws and regulations related to DWI and OUI.  What are those, and why complying to those matters?

DWI and OUI

Driving while impaired (DWI) is a serious crime in the state of Massachusetts that carries with it some harsh punishments. The reason being, driving while impaired due to alcohol, which is referred to as operating under the influence (OUI) under Massachusetts law, claims the lives of over 10,000 Americans every year according to the National Highway and Safety Administration.…

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Identifying All Responsible Parties in Car Accident Injury Claims

When you think of a car accident, you are might be tempted to believe that there can only be one at-fault person, but this is a common misconception. Oftentimes, more than one individual is been at-fault in an accident. Failing to identify each at-fault party can be a very costly mistake in many instances. If you’re uncertain about the fault, a car accident attorney can review your case.

Car accident

Why Identifying All Parties is Important

Florida law requires an owner or operator of a vehicle to carry at least $10,000 worth of personal injury protection (PIP) insurance coverage, pursuant to F.S.627.733(1), but $10,000 dollars of PIP coverage will only pay for a fraction of the medical bills incurred by an injured driver in a serious auto accident.…

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3 Mistakes to Avoid When Selecting Your Business Entity

Starting a new business venture is extremely exciting. However, if you are like most entrepreneurs, setting up the legal structure of your new business is less than thrilling.

Choosing the right business entity

You may be tempted to avoid the issue completely, or to choose your legal structure based on a friend’s advice. The problem with this is that they may not really know what they are talking about.

As a small business owner, you may hurt yourself and your new business if you don’t fully understand the basics of business entities and how to choose the right business structure.

If you want to make sure you choose the right business entity, then be sure to avoid the mistakes listed here.…

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