We have all heard about corporate social responsibility and we all know how important it is to give back to the community. In fact, there are various initiatives led by large companies such as HSBC, IBM and yes, even American Idol has joined the fray.
One might say that it’s all good for businesses who earn big money to lend a helping hand to the community but should small business owners be exempt from participating in this noble and worthy cause just because we aren’t in the same financial boat? Should social consciousness be calculated based on how much a company is earning per capita?…
Continue reading
In any business – small or large, good or bad economy – internal theft or employee fraud can occur. Actually, in my experience, I have seen more employee fraud occurring in small to medium-sized businesses because there is a greater level of trust, a less formal process at times, greater familiarity with each person in the company, and a greater breadth of duties for each employee.
So corporate life isn’t cutting it and you decide to become an entrepreneur. You translate your idea into a business plan, raise a little capital and start executing your plan. You quickly learn that growth takes longer than anticipated and costs are more than budgeted. So to keep your net profits as high as possible, you take on more and more responsibility for the day-to-day execution of the plan.
