Q: If we do not collect customer data on our website, do we need to have a privacy policy? We have provided legal reference information and general business comments below for your consideration; however, since your GSB general business consultants are not lawyers and do not provide legal services, you should plan to consult your…

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Question: What is workers’ compensation insurance and how does it work? Workers’ compensation is a no-fault system designed to provide benefits to employees injured as a result of their employment activities and to limit the liability of employers. Because it is a no-fault system, the employee does not need to prove negligence on the part…

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Business_Entity_Selection

Question: “How should I go about choosing a business entity type?” Many small businesses are structured as unincorporated sole proprietorships and General Partnerships due to their formation and maintenance simplicity and costs; however, the primary disadvantage with a sole proprietorship or General Partnership is that it is not a separate legal entity, even when it…

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Home_Based_Business_Insurance

Question: Would our homeowner’s insurance cover the entire inventory of our home-based business, or do we need additional insurance? In our experience, it is unlikely that your existing homeowner’s insurance policy covers any of your business assets or liabilities, particularly significant amounts. You would have to speak with your homeowner’s insurance agent to determine if…

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Q: I’m looking to start a new mobile auto detailing business. My biggest concern is protecting my business, particularly from employee theft. What can I do in my hiring procedures? Effective hiring procedures are important for every employer; however, since you will have employees taking company assets off premise, handling customer cash payments, working on…

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Do_I_Need_A_Separate_Business_Bank_Account

Question: Medicare and other insurance take direct deposits into my account. Is it better to use a different bank for business and personal so as to limit any errors or confusion? Should I open two accounts: one for direct deposit from the insurance companies and another to pay bills? Regardless of the business structure (sole…

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If you don’t ever take any risks, you won’t get anywhere. But you also can’t take too many risks, acting too rashly. Every small business owner needs to take a smart approach to taking risks, balancing the potential benefits with the potential costs, both of taking action and not taking action. By building a thorough…

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Certain industries experience common workers’ compensation claims. Knowing these common claims in your industry is the first step to taking active steps to improve safety and reduce risks for your employees. Read this article, and the other articles in our series on workers’ compensation insurance, for a better understanding of some of the most common…

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The last thing you want is for your business to make headlines for unethical behavior. Take proactive, preventative steps to keep everything above board and above reproach. Our blog team takes a look at some warning signs of possible ethical violations, and positive steps you can take to stop or prevent these problems, including harassment,…

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