Cbr Powerpoint2

True/False

50% of new businessesfail within the first year

True/False

50% of new businessesfail within the first year

TRUE

True/False

You need a local, state, and federal license to start your

business?

True/False

You need a local, state, and federal license to start your

business?

TRUE

True/False

You have to have a lawyerto start a business?

True/False

You have to have a lawyerto start a business?

FALSE

You don’t need one but it comes highly recommended.

True/False

INA stands forInternational Non-profit Act?

True/False

INA stands forInternational Non-profit Act?

FALSE

INA stands for Immigration Nationality Act

True/False

An example of an I-9 acceptable document is a

passport?

True/False

An example of an I-9 acceptable document is a

passport?

TRUE

True/False

A micro loan is a small loan available to small starting

businesses?

True/False

A micro loan is a small loan available to small starting

businesses?

TRUE

True/False

An employer does not have to file

an I-9 if the person has a passport ?

True/False

An employer does not have to file

an I-9 if the person has a passport

FALSE

In Arizona you must do this. Laws in your state may be

different

Facts

Employers with more than 10 employees are required to

maintain a record of injuries on the OSHA 200 form, which must be available for inspection for a

period of five years.

Facts

3 out of 4 businesseshanded down to family

members fail within one year.

Facts

Facts

The 4 P’s of any marketing plan include product, price,

place, and promotion.

Facts

Facts

Types of insurance for small businesses: Property Insurance,

Liability Insurance, Product Liability Insurance , Automobile Insurance, Workers’ Compensation, Disability Insurance, Business Interruption

Insurance, Health Insurance, and Life Insurance.

Facts

Facts

The following are four ways to protect your business as an

entrepreneur:

Facts

• Patents• Copyrights• Trademarks• Trade Secrets

Facts

Always verify a potentialapplicant’s employment

historyafter the interview, to check

his/her credibility.

Facts

Facts

The following are the fourmain types of business taxes:

Facts

• income• self employment• employment• excise

Facts

In 2006 72 million dollars in back wages were collected by the US Department of Labor.

Facts

Facts

In 2006, there were 8,650 harassment and intimidation

cases filed against small businesses with the EEOC.

Facts

Facts

COBRA stands for Consolidated Omnibus Budget

Reconciliation Act .

Facts

Facts

The cost to set up aone employee HR department

is approximately $65,000.

Facts

Multiple Choice

How many small businessesare there in the United States?

a. 100 millionb. 1 billionc. 35 milliond. 23 million

Multiple Choice

How many small businessesare there in the United States?

a. 100 millionb. 1 billionc. 35 milliond. 23 million

Multiple ChoiceWhich one of these is NOT

a type of business? a. sole proprietorship

b. limited partnershipc. limited liability corporationd. sole liability corporatione. corporation

Multiple ChoiceHow many fatalities were there in the construction business in 2007?

(per 100 employees)

a. 1, 914b. 10,003c. 808d. 1,212e. 101

Multiple ChoiceWhich one of these is NOT

a type of business? a. sole proprietorship

b. limited partnershipc. limited liability corporationd. sole liability corporatione. corporation

Multiple ChoiceHow many days does an employer

haveto file I-9 paper work upon hiring

a new employee?

a. 3 daysb. 24 hoursc. 1 week d. 7 dayse. no time constraint

Multiple ChoiceHow many days does an employer

haveto file I-9 paper work upon hiring

a new employee?

a. 3 daysb. 24 hoursc. 1 week d. 7 dayse. no time constraint

Multiple ChoiceHow many fatalities were there in the construction business in 2007?

(per 100 employees)

a. 1, 914b. 10,003c. 808d. 1,212e. 101

Multiple ChoiceWhat was the average salary of a

construction manger in 2007?

a. $35,000b. $85,790c. $ 48,500d. $120,500

Multiple ChoiceWhat was the average salary of a

construction manger in 2007?

a. $35,000b. $85,790c. $ 48,500d. $120,500

Multiple Choice

What’s the big deal if my competitor has an EMOD .85

and mine is a 1.15?

Facts

Multiple Choice

What’s the big deal if my competitor has an EMOD .85 and

mine is a 1.15?

(your competitor will spend 30% less

on work comp, making him low bid)

Facts

Multiple Choice

Some municipalities will not allow

you to bid if your e-mod is greaterthan 1.

Facts

Multiple Choice

Is it a big deal if I am one day late

on my employer tax payment?

Facts

Multiple Choice

Is it a big deal if I am one day late

on my employer tax payment?

(approximately a $8,000 fine, and you are all over the radar)

Facts

Multiple Choice

Sometimes I pay my employees cash, what’s the big deal?

Facts

Multiple Choice

Sometimes I pay my employees cash, what’s the big

deal?

(no coverage on work compensation;one unhappy employee could start an audit with the Department of Labor that will rock your world)

Facts

Multiple Choice

I will pay my guys as independent contractors to

avoid employer taxand insurance.

Facts

Multiple Choice

I will pay my guys as independent contractors to

avoid employer taxand insurance.

Don’t do this …if they have to be at work

they are employees

Facts

Multiple Choice

I’ll pay my guys piece work or salary

to avoid overtime.

Facts

Multiple Choice

I’ll pay my guys piece work or salary

to avoid overtime.

Don’t do this…you still have to track time

and will owe overtime if it applies

Facts

Multiple Choice

I use E-Verify as my employee prescreening.

Facts

Multiple Choice

I use E-Verify as my employee prescreening.

Don’t do this… it is discriminatory and you will get in big trouble

Facts

Multiple Choice

When I am not sure how long an employee will be with me, I don’t bother reporting them as

a new hire

Facts

Multiple Choice

When I am not sure how long an employee will be with me, I don’t bother reporting them as

a new hire

….all new hires must be reportedwithin 30 days

Facts

Multiple Choice

I’m a small business and I don’t need

an employee handbook.

Facts

Multiple Choice

I’m a small business and I don’t need

an employee handbook.

Don’t do this… establishing policies and procedures in every decision you make.

The median jury award last year was $276,711.

Facts

Multiple Choice

It’s cheaper to code my guys as supervisors for work comp.

Facts

Multiple Choice

It’s cheaper to code my guys as supervisors for work comp.

Don’t do this…misclassification in work

comp audits allows a three year look back

at all policies.

Facts

Multiple Choice

In 2005 the median award for employment cases was $276,711

up from $150,000 in 1999.

Facts

Multiple Choice

$95,000 was the average settlement for suits pre trial .

Facts

Multiple Choice

8,650 harassment and intimidation cases against

small companies filed with the EEOC in 2006.

Facts

Multiple Choice

$172,000,000 was collected by the Labor Department in 2006.

Facts

Multiple Choice

Errors in calculating overtimecreate a three year look back

in audits by the labor department.

Facts

Multiple Choice

In on case a company owed $6,000

in overtime and was fined $1,100

for late payments.

Facts

Multiple Choice

After your first offense it is likely

you will be audited again.

Facts

Costly HR mistakes that small business should

avoid

Hiring the wrong person

30% of all business failures are linked to bad hiring. Quick hiring and quick firing can lead to a lot of bad situations. Remember

your employees are the heartbeat of organizations.


avoid

Ignoring government regulations

Small businesses with an average of 20 employees or less pay more per employee keeping up with government regulations than businesses with 500+. It is important to keep up with these ever changing regulations rather than pay thousands in fines.


avoid

Not having an employee handbook

Small businesses with an average of 20 employees

or less pay more per employee keeping up with government regulations than businesses with

500+ It is important to keep up with these ever

changing regulations rather than pay thousands in fines.


avoid

Overlooking the importance of training

When a company invests in employee training, continuing education, and

advancing their skills a company’s bottom line is bound to increase. Overlooking this

could actually be a detriment to a company and their potential for success.


avoid

Failing to reward employees

In order to retain employees and cut down on costs, increase your bottom line etc. it is important to reward your

employees with more than just a verbal compliment. This will boost the overall morale and in return increase

productivity.


avoid

PEO’s can prevent mistakes

Today more and more companies are turning to PEO’s to avoid these mistakes. Since professional employer organizations specialize in stuff like this they can help you with hassles that you don’t want to

deal with. Save money and time!