|June 17, 2016|
Being your own boss is a dream for many individuals. But running your own business also comes with its own set of challenges. You might worry about how to increase your company’s revenue, recruit the best talent, provide benefits to your employees, and meet government regulations. Luckily, there are a number of resources for small business owners to make sure these concerns don’t keep you up at night.
Tips for Small Business Owners
To keep your employees well-managed and happy at work, and to ensure that you’re complying with the latest government regulations, try some of these tips:
- Find the right plan for your business. Healthcare costs and mandates can have a big impact on a business’s bottom line. PA Chamber Insurance can help you navigate the healthcare marketplace and guide you through the many options you have to meet your company’s coverage needs.
- Long-term planning. Retirement is on every employee’s mind. Help your employees plan for tomorrow and they’ll reward you with hard work and commitment to your company today.
- Stay competitive. Networking for business owners is a must — both with fellow entrepreneurs and area employees. Find out what pay and benefits other comparable small businesses in your area are offering so you can stay ahead of the curve and attract the top talent.
- Follow the rules. It can be confusing to stay on top of the government’s latest small business regulations. Make sure you’re protecting yourself and your business from potential pitfalls by taking advantage of resources for small business owners that can explain the ins and outs of these regulations.
Protect Yourself and Your Employees
An often overlooked area of any small business is a human resources department. When you’re just starting out, having a staff member to manage contracts and yearly open enrollment paperwork might seem like an unnecessary expense. But you shouldn’t underestimate the importance of having someone on hand to answer your legal questions and help your employees navigate company policies. If you’re unable to commit the funding to hiring a human resources professional at this time, you can look into purchasing shared human resources services or download key manuals online .
Grow Your Revenue
Your small business’s bottom line is important to both you and your employees. You don’t always have to reinvent the wheel when looking for ways to grow your revenue. Look at what’s worked for other small business owners in similar situations. When you’re able to implement the advice from other business owners and grow your company, you’ll be able to expand your services, hire more help and reward the good work of your current employees.
Networking for Business Owners
One of the best resources for a small business owner is another small business owner. Look for mentors in your community who are established and can offer advice for navigating the highs and lows of running your own business. Consider advice groups for business owners and networking and educational opportunities.
The PA Chamber of Business and Industry provides several valuable events and workshops for small business owners. If you’re a member of the PA Chamber, consider attending our next event and start networking with other attendees who own local businesses. We plan our events with the goal of helping small business owners understand the latest rules and regulations so they can move forward with confidence.
Founded in 1916, the Pennsylvania Chamber of Business and Industry is the state's largest broad-based business association, with its membership comprising businesses of all sizes and across all industry sectors. The PA Chamber is The Statewide Voice of Business™.