Ask SmallBizClub

How do I know if and what type of liability insurance is needed for my business?

Essentially every business needs some amount of property, liability, and vehicle insurance depending upon the business activities and other factors. Business insurance is generally based on the business activities and risks and not whether, for example, it is home-based or located in an outside office.

What is the best way to implement electronic signatures?

Technology | Rick Gossett

Under federal and state law, electronic contracts and electronic signatures are just as legal and enforceable as traditional paper contracts signed in ink; however, most companies are still entering into most of their agreements on paper. The norm for most businesses is to print, sign, scan, and email contracts. In large or important agreements, companies typically also exchange multiple sets of originals, so that each side as well as their legal counsel has original copies.

Is there a way to switch from a C Corporation to an S corporation or LLC?

Legal | Jason White

C corp to S corp conversion: An S corp is a tax status election only, so converting from a C corp to an S corp is a fairly simple process. An S corp is created by forming a subchapter C, or regular, corporation with the state and then electing subchapter S corporation tax status for the corporation by filing Federal Form 2553 with the IRS. A business can also operate for a period of time as a C corp before it elects for S corp tax status.

B2B Sales Proposals and Scripts?

Sales | Chris Barnes

Cross-marketing, client referral arrangements, and client list sharing are common B2B marketing practices; however, you can encounter resistance to sharing client lists and other objections in these B2B marketing activities.

Is there a way to best determine which number we should list for withholding on our W-2?

Tax & Accounting | Rick Gossett

Determining withholding allowances: If you and your spouse have W-2 jobs, then it is advisable for both of you to complete Federal Form W-4 and its worksheets and your state’s Form W-4 at the start of every tax year to determine the proper number of withholding allowances to claim.

What are some resources to meet Angel Investors for funding a business?

Starting a Business | Fran Tarkenton

Of course, the angel investor category can include family, friends, and business associates. Also, the type of business venture and amount of capital needed can influence where to look for angel investors. For example, your local accountant, lawyer, banker, or another business contact…

What are the rules for Firing an At-Will Employee?

Human Resources | Rick Gossett

As you know, we are not lawyers and do not provide legal opinions. The comments that we offer on legal topics are not based on any legal qualifications and should not be considered as anything other than general feedback. Our ability to find information that is directly responsive to legal and regulatory questions is limited to referencing documents published by the government or other sources. If you are uncertain of your obligations under federal and state labor laws with respect to a particular employee termination or other employment matters, you should consult a local labor lawyer to ensure compliance.

What blog topics would be beneficial to increase customer traffic?

Marketing | Edwin Bevens

A business blog has two basic purposes: promoting a business and networking to build and retain customer relationships. There are various ways to distribute or publish a blog to increase your blog viewer traffic with common website design and technical trend topics and other web design and industry articles and information that would be useful for your existing customers and other readers. As to increasing sales (buying customer traffic), you can use your blog to introduce new products or services, offer price discounts or other promotions, and include other call-to-action content that may be of interest to new or existing customers.

Price Increases and Strategy?

Marketing | Bill Wortman

You are correct that competitive prices can be critical in an economic recession in order to maintain customers and market share; however, you still need to maintain adequate profit margins and profitability. We do not know how long it may have been since you increased your prices; however, businesses must continually monitor their profit margins and operating costs…

Hiring Sales Staff?

Human Resources | Angela Cordle

As you have experienced, it is very difficult for startup and other small businesses without predictable sales and/or with limited capital resources to attract and retain skilled sales staff on a 100% commission pay structure. While you may be able to recruit sales staff in this high unemployment environment, you will have difficulty retaining 100% commissioned employees unless they can quickly generate sales and commission income.