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Have You Made New Year’s Resolutions for Your Business?
The new year brings new challenges to businesses, such as new laws and the looming tax season. Over the past year, you may have also realized that you need to make some changes to yourself and to your business to make it run more efficiently. Now is the perfect time to audit yourself and your business, set new goals, and learn something new.
In January, take time to review:
Your Business Plan.
If you have outgrown your original business plan, it may be time to reorganize, hire employees, or adjust your policies. If your business has changed dramatically over the past year, you may need to consider reorganizing as another type of company. There are a lot of issues that should be addressed when making such a decision. Let me help you with that.
Your Business’s Internal Policies.
I have previously written
about the importance of implementing a sexual harassment policy for your business. Review your existing policies and consider whether you need to add any other policies to your company’s standard practices. If you don’t have a policy, consider one.
The Small Business Administration recently posted
about how to avoid employee lawsuits--reading about others’ mistakes can help you recognize policies you need to implement this year.
Audit your recordkeeping practices; review your withholding and estimated taxes; and keep in close touch with your tax and financial advisors to make sure you begin your year free of any tax issues.
In addition to reviewing your policies and tax documents, you should take some time to learn something new this year to benefit your business practices. Here are some resources you should be aware of:
Regulations for the Affordable Care Act are still being implemented, but that isn’t the only law that will affect your business. Pay attention to the upcoming Georgia General Assembly session, which begins on January 13 and may discuss legislation that might affect your business. For example, Senator Donzella James has already stated her intention
to introduce legislation that would increase the state’s minimum wage.
Local news sites often feature legislative news, and the Georgia General Assembly website has a Bill Tracking page
. For federal laws, the Department of Labor’s website provides assistance for small businesses at its searchable elaws site
Small Business Administration.
The Small Business Administration offers webinars and in-person events in addition to a frequently-updated website
that provides assistance to small business owners.
Massive Open Online Courses.
Massive open online courses, or MOOCs, have grown in popularity over the past year. MOOCs are online courses that endeavor to provide open access to knowledge and to facilitate wide levels of participation.
One popular MOOC website is Coursera
, which offers free courses from more than 80 universities and colleges in nearly every discipline of study. Many of these courses are available for self-study, giving you flexibility to work on the course when you have time. Browse Coursera
or the course list at MOOC-List.com
to find a course that will help you improve your business this year.
Setting and working on new year’s resolutions for your business can help you refocus and increase your company’s efficiency. If you’d like assistance reviewing any of your internal policies, call me at 404-386-9950 or email me
. I can help you achieve your new year’s goals.