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How Important is Your Business Credit Score?

Business credit ratings have become more important over the last few years. While they have always been crucial to the success of a business, the recent financial crisis has made managing your business credit rating even more important. Your credit rating will now be used in almost every aspect of your business. Vendors, even ones you currently use, will now review your credit standing periodically to determine if they are going to continue offering you terms on your purchases.

Government agencies offering contract opportunities will now review your credit standings to determine if your company is qualified to complete the contract. They believe if your company has a less-than-perfect credit rating, you will be unable to make purchases necessary to complete the project.

How To Keep Your Business Credit In Good Shape

There are several things that you can do to improve your credit rating or keep your credit standing in good order. Many of these suggestions are also things you could do to manage your personal credit:

• Pay Invoices On Time Regardless of the “grace period” stated on many of your invoices, it is crucial to pay your bills on or before the original due date. While using the grace period may not negatively impact your credit score in a large way, each incident will have a small impact that will quickly impact your credit.
• Watch Balances You want to remain at 35 percent or less of your available credit balance to maintain a good score. While some credit scoring agencies will allow businesses to go up to 50 percent of available without a negative impact, you should try to remain in the 35 percent range. When your debt-to-credit ratio goes to high, the credit rating companies view you as a risk.
• Use Credit Repair Services Many times it takes a “different set of eyes” to see a problem in your finances. You may believe that everything you are doing should have a positive effect on your credit, but your score remains low. A professional agency using business credit repair software can help you manage your debts in a way that will improve your overall credit rating.
• Go To Auto Pay Bills that can be automatically deducted from your checking account each month should be enrolled in auto pay. This simplifies your bill paying process, guarantees your bills are paid on time, and helps you improve your credit rating with little effort.
• Overextension Is Bad Yes, it may seem like a great idea to have accounts established with every provider in your area under the pretense of always being able to get supplies, but this can also impact your credit. As more vendors pull your credit record before establishing an account, or randomly check your record while you are their client, the more inquiries are posted to your credit record. Just like personal credit reports, every time your credit report has an inquiry placed against it, your credit score will drop a few points. If you have an excessive amount of vendors, you could possibly have an excessive amount of inquiries.

Little steps like these can make a huge difference in the success of your company. Sadly, business owners involved with every other aspect of their company often forget how important managing their credit standing can be to their success.

Author Catherine Stephens is a small business consultant and offers this article to help college student avoid heavy debt load. DebtPayPro is one of the best providers of business credit repair software systems within the finance industry. These important tools will help your lender to determine eligibility and assist them in doing necessary common repetitive actions faster and more accurately, which is important when it comes to your financial history.

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Most Common Employee Injuries and How to Prevent Them

There are certain occupations that automatically bring up visions of accidents and injuries by simply thinking of them. These jobs are often industry specific, and they can range from roofing to highrise building construction. It’s important to know, however, that an individual can be injured in absolutely any type of workplace. This fact becomes quite apparent after considering some of the most common workplace accidents and injuries.

Automobile Accident Injuries

While everyone knows the inherent dangers of traveling on America’s highways, those who drive for a living face this danger on a daily basis. Sadly, accidents on the open road can lead to broken bones, whiplash, traumatic brain damage and even death. On top of this, personal injury laws usually mean that the driver and their employer will wind up in court in one way or the other.

Avoiding these accidents is imperative. The most important advice anyone can take is to pay attention to what they’re doing. Recent data shows that nearly 20 percent of all auto accidents are caused by distracted driving. By simply putting the phone down and paying attention, employees on the road can minimize their chances of being injured.

Lacerations and Cuts

Cuts and lacerations are a common injury in industries where employees use sharp objects. Luckily, most of these injuries are minor, but on occasion, not wearing protective gear can lead to serious accidents involving these dangerous objects. Whether working with meat slicers, butcher knives or even perforating cutting tools, wearing the appropriate safety gear can prevent otherwise infrequent accidents.

Slips and Falls

Slip and fall accidents are one of the most active areas of personal injury law in the legal system. Oftentimes, when these accidents occur in the workplace, they are covered under workers’ compensation insurance; but certain employees, such as seamen in the shipping industry, actually retain their right to bring personal injury suits against their employers.

In addition, when reckless negligence leads to a workplace accident in any industry, most employees have the right to sue. Between the injury and the possible settlement, both the employer and employee are going to be hurt in this scenario. This is why it’s important to immediately mark and cleanup liquid spills, correct any landscaping problems that present a tripping risk and also ensure that slip-resistant shoes are being worn in slip prone industries (ie. food service).

Sprains and Strains

Sprains and strains can occur easily when a person overexerts themselves. Overexertion is actually the leading cause of workplace related injuries. This means that there should always be proper techniques in place to minimize these risks. Workers who must move large or heavy objects, for instance, should always have help. It’s also important to not try to lift a heavy object that is over one’s head; a person should get on eye level with it, especially if on a ladder, before attempting to lift the object.

Struck by an Object

The Liberty Mutual Research Institute for Safety compiled some of the most common workplace injuries and accidents, and being struck by objects landed in the top five. This usually occurs when an object falls and strikes a person. This can lead to head, neck and other bodily injuries. Luckily, there are a few ways to minimize these risks as well.

Many industries have an inherent risk of objects falling on people. In these industries, proper safety gear (ie. hardhats) and warning signs should be utilized. A premises liability attorney, such the North Carolina law offices of Powers McCartan, can offer valuable advice about safety issues. It’s important for workers to receive proper safety training to learn how to avoid accidents, such as not walking under ladders, keeping a clean work site and, in certain industries, properly securing loads before they’re moved.

The simple truth is that anyone involved in any industry can be injured on the job. These injuries can lead to high medical bills, increased insurance rates, personal injury lawsuits and lost productivity. Only responding to these incidents in reactionary terms is a huge problem in every industry that can make the occurrence of the aforementioned consequences more likely. When proper safety measures are adhered to however, plenty of heartaches can be prevented for both the worker and the employer.

A former news writer, Ann Bailey encourages small business owners to be aware of these top employee injury areas. The law offices of Powers McCartan are experienced in all types of employee injury cases, and have valuable information for any small business in North Carolina wanting to avoid potential employee safety hazards.

Photo Credit: http://www.flickr.com/photos/carbonnyc/3993866642/

Your Business Website: Will Clients Like What They Find?

The purpose of a business website is to promote a company in some fashion. Whether a company is selling products or providing services, the site needs to incorporate all of the technical aspects that make it both web-visitor and search-engine friendly. The ability to do this is no small feat. That’s why serious businesses utilize professional web builder and SEO services to ensure that they can receive the best possible results.

Everyone has heard, time and again, that the customer is always right. The way that this is applied to web design is that when people arrive at the site, they need to feel welcomed. If not, just like in a brick and mortar store, they will leave. Added to the challenge is that web visitors are impatient – they simply are not going to stick around if there is nothing worth looking at on the site. Because there is so little time to engage them, every second counts when visitors arrive at a website.

What are Customers Expecting?

First, what are they not expecting? There is nothing more annoying to a web visitor than a poorly designed website. An ugly or outdated site is not fun and it wastes time. Therefore, your website simply must be designed properly – and that is best done by an expert web builder. Secondly, the site must be user friendly. The layout should be clean and simple, with links that make sense and work properly.

Who’s Looking Anyway?

There are generally three types of people who could arrive at a website for any given reason:

1) Random strangers – People who know nothing about the business have landed on the page due to a related search. Theoretically, they could still be converted to customers or refer the site to others they believe would find it useful. Therefore, the site should contain something of value to the average person, if possible, such as current and relevant articles that solve a problem.

2) Friends of Yours – They like your cause or business. These are people who probably know your URL and may visit on a regular basis. To keep these people engaged, there should always be fresh content to lure them in. One great way to accomplish this is by encouraging people to visit the site through a newsletter or membership.

3) Fans – These are more avid web visitors who regularly come to the site for — you guessed it – the same thing that friends come there for and more. These are often consumers who make regular purchases, so it is very important to ensure that they stay loyal.

Do You Have Fresh Content?

The one thing that all three of these types of web visitors have in common is that they want great, fresh content to be inspired for repeat visits. One added bonus about fresh content is that it also makes the website more search engine friendly. So it’s a win-win for everyone! Customers get something of value, the site stays at the top of the search engines and you have far more potential to:
-Keep customers engaged
-Engage new prospects
-Attract new customers
-Make more sales

Because websites are on the Internet and available for most everyone to see, it is important for serious business owners to ensure that their sites present the most accurate and relevant picture of their offerings possible. When a site is is visually appealing and constructed well by a professional SEO company, such as www.eversparkinteractive.com, it is more likely to attract, and keep, all kinds of visitors.

Since there is only one chance to make a first impression – a site really must make those clicks count! Professional web design is the only way that businesses can ensure that their sites will include both technical and marketing best practice techniques. This is absolutely critical in order to consistently gain and keep a loyal following and attract target markets.

As a writer in the arts and business fields, Ann Bailey sees the beneficial effects of good web design daily. The professional web and SEO builders at www.eversparkinteractive.com put every client’s web design on the cutting edge of internet business presence.

Photo Credit: http://www.flickr.com/photos/chasingdaisy/5843303770/

Could Your Employee Medical Records Be Needed in Malpractice Lawsuits?

Most small business owners and other entrepreneurs never fully contemplate all of the issues that they’ll face once they start running their own business. Some of the most unforeseen outcomes are those related to the legal world. These issues can include liability insurance, personal injury claims and even environmental damage lawsuits. One legal issue that many business owners are likely to come across, however, is subpoenas for medical documents related to their employees. These are sometimes needed in medical malpractice lawsuits, and unfortunately, they can sometimes leave employers in a little legal trouble of their own.

Why Medical Records May Be Subpoenaed

There are numerous reasons why, in a medical malpractice lawsuit, an employer may be asked to hand over certain information about their employees medical health. The main reason, however, is to prove whether or not an employee had any illnesses or injuries before their medical mishap. Interestingly enough, several employee documents can help in these situations, including:

Employee insurance plans
Documentation related to sick days taken
Previous workers’ comp claims
Documentation of other issues at work

As previously mentioned, these documents can go towards showing whether a person had prior injuries or illnesses, and this can be vital during a medical malpractice suit. This type of suit, whether you consult a Montana lawyer or a Maryland medical malpractice attorney, must show that a doctor provided a sub-par level of care when compared to others in his field. In addition, this sub-par level of care must be what contributed to the harm that a patient received.

All of this simply means that even if a doctor was negligent in his level of care, he won’t have to pay compensation if he can prove that a patient was already having issues in relation to the alleged damage caused by the neglectful care. Similarly, these documents can go towards proving that an employee had been perfectly healthy before undergoing treatment from their doctor. In a medical malpractice suit, these records could be detrimental for either party to the suit.

When Employers May Disclose Info

Unfortunately, whenever parties of a medical malpractice suit decide to drag an employer into the mix, it puts that employer in danger of being held legally liable for certain acts as well. This usually makes it pertinent for an employer to get advice from a medical malpractice lawyer on what their rights and responsibilities are in this specific situation. Since these specialized attorneys work in this world every day, they know what may or may not get a business owner in trouble.

One major issue employers can run into is the Privacy Act of 1974. This law prohibits certain information from being disclosed about an employee short of having that employee consent to its release. This isn’t a problem when it’s the employee requesting the information, but when a medical institution instigates the request, this can lead to trouble. There are twelve exemptions that would require employers to disclose this information anyway, such as having a court order (not necessarily a subpoena), so it’s important to have someone knowledgeable about this specific area of law on hand.

Medical malpractice is a complex issue, and usually only experienced lawyers in the field know all of the system’s nuances. This means that even though an employer may never be a party to a medical malpractice suit, they should at least speak with an attorney who specializes in it. This will ensure that they avoid any liabilities in the sometimes likely event that they’re approached for these employee records. It can literally mean the difference between simply handing over a few documents and ending up in court themselves.

A former TV news writer, Ann Bailey posts these pointers for business owners regarding their employee medical records. The Maryland medical malpractice attorney group at Price Benowitz, LLP conscientiously represents victims of medical malpractice and is also able to advise employers about medical recording for personal injury claims.

Photo Credit: http://www.flickr.com/photos/buba69/2383197884/

Owning a Piece of the Apple: How Small Businesses Get Started in New York

New York City presents a lot of opportunities for small business owners, but it can be daunting to navigate through the world of commercial real estate. Although the city has vacancies just like anywhere else in the country, it also has a higher concentration of new businesses starting every day. Due to this, you will need to be patient and dedicated if you are going to find the perfect place within your price range.

Tips for Finding the Right Place

1) Use a Real Estate or Rental Agent – Whether you are looking for a commercial rental or purchase, it will be much easier to navigate through all of the current listings with the assistance of a professional agent. Not only will they be able to help you avoid looking at places that are not suitable for your new business, but they will also have the inside track on any new properties that become available.

2) Set Flexible Guidelines – In order to find the right place, you definitely need to have guidelines such as the price, general location and size. However, if you are not at least somewhat flexible with your guidelines, it might be impossible to find a location for your business. Therefore, you need to determine what the property absolutely must have and what you are willing to live without.

3) Be Prepared to Move Forward – Even though it is always a good idea to look at multiple options before you commit to something, it is also imperative in New York City to be willing to move quickly. For example, if you are looking for a rental property and you find one that fits all of your guidelines, it would be unwise to leave without filling out an application. In order to do this, you will need to have all of the necessary verification paperwork with you. Keep in mind that a rental application is not a contract, so you will not be locked into anything by simply filling one out.

4) Get Pre-Approved – If you are planning to buy a piece of real estate for your new business, you will want to obtain mortgage pre-approval. By doing this, you will not only know exactly how much money you can spend, but you will also look like a much more viable buyer to the individual or business that is selling the property. In fact, whether you ask a Brooklyn Realtor or a Manhattan real estate lawyer, you’ll hear that some people will not even accept a real estate offer unless a pre-approval letter is attached. Therefore, it is in your best interests to obtain that before you begin seriously looking at your options.

5) Hire a Real Estate Lawyer – There are two main reasons to work with a real estate lawyer in New York City: to review the contract before you sign it and to resolve any disputes that arise after the contract has been signed. By hiring a lawyer who specializes in real estate, you will be able to avoid a lot of the issues that have caused other businesses to fail before they even get a chance to greet their first customer.

Even though it can take a while to find the right place within the city limits, there are definitely prime real estate opportunities available for both buyers and renters. Therefore, you simply need to utilize the tips above and take the time to visit every property that matches up with your guidelines.

Ann Bailey, a business advice contributor, shares this list to help small business owners in their quest for commercial space in New York. The Manhattan real estate lawyer group at Canfield, Madden & Ruggerio LLP has thirty solid years of experience assisting clients in all aspects of business property purchases, leases and dispute resolutions.

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