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M&A on the way? Consider a QOE report

Whether you’re considering selling your business or acquiring another one, due diligence is a must. In many mergers and acquisitions (M&A), prospective buyers obtain a quality of earnings (QOE) report to evaluate the accuracy and sustainability of the seller’s reported earnings. Sometimes sellers get their own QOE reports to spot potential problems that might derail…

How to handle evidence in a fraud investigation at your business

Every business owner should establish strong policies, procedures and internal controls to prevent fraud. But don’t stop there. Also be prepared to act if indications arise that, despite your best efforts, wrongdoing has taken place at your company.How you handle the evidence obtained could determine whether you’ll be able to prove the charges brought against…

Choosing a retirement plan for your small business

Most growing small businesses reach a point where the owner looks around at the leadership team and says, “It’s time. We need to offer employees a retirement plan.”Often, this happens when the company is financially stable enough to administer a retirement plan and make substantive contributions. Other times it occurs when the business grows weary of…

Evaluating an ESOP from a succession planning perspective

If you’ve been in business for a while, you’ve probably considered many different employee benefits. One option that might have crossed your desk is an employee stock ownership plan (ESOP).Strictly defined, an ESOP is considered a retirement plan for employees. But it can also play a role in succession planning by facilitating the transfer of a…

6 steps to easing employees’ fears about innovation

Business owners often find the greatest obstacle to innovation isn’t the change itself, but employees’ resistance to it. Their hesitation or outright defiance is frequently driven by fear.Some workers might worry about how the innovation will alter their jobs — or whether it will even eliminate their positions. Others could reject the concept and believe…

Supply chain software can help digitize the dilemma

It’s a dilemma that’s been in the news and on business owners’ minds for a while now. The COVID-19 pandemic, along with other world events, have strained supply chains both global and national. And, throwing gasoline on the fire, cyberattacks have threatened to further disrupt the smooth flow of materials, products and fuel.These heightened risks…

Weathering the storm of rising inflation

Like a slowly gathering storm, inflation has gone from dark clouds on the horizon to a noticeable downpour on both the U.S. and global economies. Is it time for business owners to panic?Not at all. As of this writing, a full-blown recession is possible but not an absolute certainty. And the impact of inflation itself…

Undertaking a pay equity audit at your business

Pay equity is both required by law and a sound business practice. However, providing equitable compensation to employees who perform the same or similar jobs, while accounting for differences in experience and tenure, isn’t easy. That’s why every company should at least consider undertaking a pay equity audit to assess its compensation philosophy and approach.Legal…

ERISA and EAPs: What’s the deal?

In recent years, more and more businesses have increased efforts to support the well-being of their employees. This means not only providing health care benefits, but also offering other initiatives designed to help workers cope with challenges such as substance dependence, financial planning, legal woes and mental health issues.Among the options usually considered is an…

Dodge the tumult with a buy-sell agreement

Businesses with multiple owners generally benefit from a variety of viewpoints, diverse experience and strategic areas of specialization. However, there’s a major risk: the company can be thrown into tumult if one of the owners decides, or is compelled by circumstances, to leave.A logical and usually effective solution is to create and implement a buy-sell…

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