Employee handbooks are great for laying out your small business’ policies, employee expectations, and they can be particularly helpful if (for some reason) your business is ever sued. The most important thing is that these handbooks will clearly communicate your expectations and rules by which employees will be governed. Below are some tips for putting together an employee handbook for your small business.

What should you include in your employee handbook?
There are certain essential topics that all employee handbooks should cover. Here are some of the essential topics that we recommend you include in your employee handbook:

Company overview: By stating your overall philosophy and vision for the company will set the tone for the entire handbook. You can also make clear…

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Today, limited liability companies (LLCs) are one of the most popular types of business entity. Entrepreneurs and small business owners find LLCs appealing because they offer limited liability, pass-through taxation, flexibility in management, and have relatively simple requirements. Today’s post provides some additional insight into each of the reasons LLCs are appealing.

Limited Liability
Like corporations, limited liability companies offer business owners protection against personal liability. If you are the owner of a sole proprietorship or general partnership and you get sued, your personal assets, including potentially your home, may be subject to the lawsuit. This means that your personal assets are on the hook and may be taken away from you because of a lawsuit against your business. I’ve probably gotten your…

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When forming a small business and creating your small business development strategy, many entrepreneurs and business owners forget one of the most important considerations: the exit strategy, i.e. how you will one day exit your business.

Especially in the beginning, it’s not easy to think about how your business will end, or how you will transition out of managing the business. However, when your business is just starting out is often the best (and least complicated) time to discuss your exit strategy.

In the beginning, your business is small (in number of employees and cash), there aren’t significant liabilities, and the business has only a few contracts with individuals outside the company. It becomes increasingly difficult to discuss exit strategies as your…

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I recently read an article that discussed the best places in the world to start a business. Initially, I was drawn in by the headline “Best Place in the World to Start a Company.” The article went on to describe a Yale professor’s argument regarding geography and its importance in the success rate of businesses. It seems as though best startup locations has been a hot topic in the media lately, however, this article gives a markedly different opinion.

Most articles boast the success rates from Silicon Valley or New York City, or  international startup communities like India and Greece. The recent study out of Yale found a different “ideal location” to start a business: your hometown.

Professor Olav Sorenson told the…

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