Category Archives: News

Washington’s Paid Family and Medical Leave Program.

PFML_Employer_OverviewWashington is soon to be the fifth state to offer paid family and medical leave benefits. All workers will no longer have to choose between caring for their loved ones and making ends meet. They can dedicate their time away from work to be the best caretaker they can be. In return employers have access to an inexpensive benefit, save on payroll costs while the worker is on leave, and reduced employee turnover costs.

Workers can begin taking leave in 2020, but next year employers will have some actions to take.

First, employers need to withhold premiums from paychecks starting with the first check in 2019. These premiums are split between employers and workers. Workers foot most of the bill, but employers with 50 or more employees have a portion to pay also. (Employers with fewer than 50 employees don’t have to pay premiums but are still responsible for collecting and remitting the workers share.) Premiums are paid to the Employment Security Department by employers quarterly, starting in 2019. Learn more about premiums on the Premiums page.  Continue reading

The #1 reason small businesses fail… and how to avoid it.

Cash flow.

Mention those two little words to almost any small business owner, and you’ll see them flinch.

Very few business terms get as cool a response. And sadly, those two little words (both of them four-letter words, interestingly enough), are the #1 reason small businesses fail. They take out more small businesses than any other factor.

In fact, 82% of small businesses fail due to cash flow problemsContinue reading

The Continued Growth of Fitness Franchises

According to a National Health Interview Survey, for the first time, more than half of Americans reported that they got the recommended amount of leisure-time aerobic activity.

Compare that to 2006, when only 43 percent of Americans hit that physical activity threshold.

That means that more Americans than ever are focused on getting/staying fit. And fitness franchise businesses are reaping the rewards.

Could a fitness franchise opportunity be the right one for you?

3 Proven Tactics to Grow Your Small Business with LinkedIn

This article has been brought to you courtesy of Linkedin. 

There are over 30 million small businesses in the United States, but only half of them will make it past five years. Ensure your small business is in the successful half and capitalize on how LinkedIn can evolve your business. Here are three ways to grow your business using LinkedIn:

Create & Promote a LinkedIn Company Page

 LinkedIn members are 50% more likely to buy once they’ve engaged with your business on LinkedIn. But they can’t connect with you if you don’t have a LinkedIn Company Page. Personal profiles don’t have the same marketing, advertising, and recruiting features as Company Pages, making them less effective at promoting your business. As you create your page, think about the kind of impression you want to create among potential customers and employees.  Continue reading

Do you think you might want to sell your business?

The Value Gap

by Kelly Deis of SoundPoint Consulting

business for saleHave you ever heard of it? Well, if you are thinking of selling your business in the next few years, it is a term that you should get familiar with.

The value gap is the difference in price between what the seller thinks his/her business should sell for and what a buyer is willing to pay for it. Bluntly, it is unrealistic expectations on the part of the seller.

Sadly, it is one of the bigger reasons why deals go awry in the lower-to-mid market tier. And, it can be avoided.

Causes of the Gap

There are a variety of reasons why a seller may think that their business is worth more than what others are willing to pay for it.

Continue reading

Washington business registration renewal letter scam.

Misleading Letter vs. Official Letter

Businesses in Washington should be aware of a possibly fraudulent letter claiming to be an official bill for annual business registration fees.

One letter received by an Edmonds-based business directed the business to send $121.86 to a post office box in Olympia. The letter stated, “your state annual report will not be filed until payment is received.”

The misleading letter did not include the Office of Secretary of State logo, as an official letter from the Office of Secretary of State would – see the example pictured above.  Continue reading