Consultant’s Corner: Funding a New Small Business

Question: What is the best way to go about getting a loan from the SBA? Contrary to popular belief, the Federal Small Business Administration or SBA does not provide loans but merely provides loan guarantees on funding offers made by its lending partners (Banks, Community Development Organizations, Microlending Institutions and other lenders). There are several […]

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Consultant’s Corner: How Do Government Contracts Work?

Q. What does it take to win government contracts? Government Contracting Pros and Cons Government contracting can be a reliable and profitable revenue source for a business; however, there a various considerations with government contracting. For example, the paperwork and other administrative burden and extended payment terms are unattractive to many businesses. To help determine if […]

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Consultant’s Corner: Establishing a Simplified Employee Pension Plan

Question: What is required when establishing a SEP Plan? A Simplified Employee Pension (SEP) Plan, also referred to as a SEP-IRA, is one of the easiest small business retirement plans to set up and maintain. You can make sizable contributions for yourself and any eligible employees. There’s little administration, any employer—including self-employed individuals—can establish a […]

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Consultant’s Corner: Protecting Your Business Methodology

Question: I’m a professional fundraiser for nonprofit organizations. My clients sign one-year contracts. How do I protect my ideas (e.g., fundraising strategies, event ideas, etc.) when a contract ends and the client implements my methodology themselves? Generally speaking, your fundraising contracts should include terms and clauses that explain the ownership and permitted use of any […]

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Consultant’s Corner: Do I Have to Pay Employees When Bad Weather Closes the Business?

Q. Are employers required to pay employees for days they could not come to work due to inclement weather and the building was closed? While you may want to consult your local labor lawyer to confirm your employee compensation requirements for particular business closure situations, as a general rule, exempt employees will need to be […]

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