Small Business Tips

Bonuses & Incentives: Good for Retention or Hype?

October 3, 2024

I recently wrote an article for HVACR Business diving into the effectiveness of bonuses and incentives in the HVACR industry. With retention being a critical challenge, it’s time we ask: Are these perks really working, or are they just hype?

Innovative Benefits Solutions Help Small Businesses Keep Key Employees

September 19, 2024

Millennials and members of Gen z in the workforce are looking for flexibility and meaningful work in addition to health coverage and retirement contributions. Equity-based bonuses such as phantom stock are one effective way for small businesses to address the evolving expectations of the modern workforce.

ESOPs, ESOs, and ESPPs: What’s The Difference?

May 12, 2024

ESOPs, ESOs, and ESPPs: the acronyms might look confusingly similar, but there are major differences between the workplace offerings.

What Is Nonqualified Deferred Compensation?

May 5, 2024

Nonqualified deferred compensation can be a great way to reward and incentivize key employees.

How to Navigate a Partial Company Sale as a Small Business Owner

April 2, 2024

Selling a fraction of your business has its upsides. Read on for considerations and impact on phantom stock allocation.

What Is the SECURE 2.0 Act and How Does It Impact Small Businesses?

February 19, 2024

SECURE 2.0 may be the biggest enhancement to Americans' retirement savings we've ever seen. While not specific to small businesses, the legislation will have significant impact on this segment in particular.

5 Employee Bonus Plans For Small Businesses

February 15, 2024

There are several types of bonuses available to small businesses and their employees. Some are performance-based and some aren't, but they all need to be carefully structured and communicated.

Navigating Psychological Contracts in Small Business

February 12, 2024

Small business hiring and employee retention is tougher than ever. By understanding the psychological contract made with employees, owners are more likely to recruit great workers who want to stick around.

Choosing The Right Small Business Structure

February 8, 2024

Picking a small business structure has many implications on your business, including tax, liability, company hierarchy, and fundraising. There are five main types of business structures: sole proprietorship, partnership, limited liability company, cooperative, and corporation (which comes in several varieties).

Small Business Valuation: What Is Your Company Worth?

February 1, 2024

How much is my business worth? It's an important question to consider, even if you're not selling any time soon.

The Right Way to Think About Employee Compensation

January 18, 2024

Whether you employ one person or hundreds, all small business owners face the same issue: balancing attractive benefits with financial feasibility.