Tag Archive | Small Business

Graffiti Prevention for Businesses

You see it everywhere you go. It doesn’t matter what city, state, or country…..graffiti is EVERYWHERE. And it looks like crap and if it’s on the wall of your business or building! Not only does it look like crap, but graffiti contributes to reduced retail sales, a decline in property values, and citizen fear. Not what you want when it comes to running a thriving business. Or owning a successful commercial building.

A business littered with graffiti is less likely to be patronized. Citizens feel less safe and secure entering a storefront where graffiti is present.

Graffiti Prevention: Tips for Businesses

If you have any questions about the following:

  • How can a business prevent graffiti?
  • How might a “graffiti ordinance” affect a business?
  • What should a business do if it’s hit with graffiti?
  • How should graffiti be removed?

Then check out this Tips for businesses fact sheet

Hopefully with enough businesses on board to prevent graffiti, we don’t have to see it everywhere we go. Pure and simple, it looks like CRAP! More importantly, it contributes to reduced retail sales, declines in property values, and community fear.

What measures are you taking to prevent graffiti on the walls of your business or building?

-JK

Is California the Most Litigious State in the United States?

Although many people view California as the most litigious state in the United States, it is actually the sixth most litigious, according to the Employment Opportunity Commission (EEOC).

Texas had more than 7,482 charges filed in 2018; followed by Florida with 6,617; then Georgia with 4,919; then Pennsylvania with 4,463; followed by Illinois with 4,444; and then California with 4,344.

Considering that California is the most populous state and has the most protections for employees, the number of complaints, just based on employee population, is a head-scratcher unless you believe that California employers are better at preserving employee rights or that population and employee rights are not good indicators of employment practices risk.

Source: Travelers

-JK

Professional Liability vs General Liability Insurance For Technology, Computer & IT Services

I’m working on an insurance policy renewal for a Technology, Computer & IT Services based small business. This is for their Professional Liability / Errors & Omissions insurance coverage.

The insured wants to know the advantages of keeping this E&O insurance policy and the coverage differences compared to General Liability insurance.

Here’s a nice two-minute explanation from The Hartford to address this exact question:

If you ask me, all Technology, Computer and/or IT Services based businesses should carry both professional liability (E&O) and General Liability to protect their risk exposures, without question.

Your clients can sue you for a wrongful act in providing professional services, which can be the result of an act, error or omission; very often, it is not the result of a mistake, but rather displeasure with the outcome, and even frivolous lawsuits will incur defense costs

The best part is that both coverages can often be packaged into a single policy together.

-JK

Small Businesses Are Opening Faster Than They Are Closing

Yesterday, the Small Business Administration (SBA) Office of Advocacy published a fact sheet by research economist Daniel Wilmoth that indicates more small businesses are opening than closing. In 2017, the number of businesses in the U.S. increased by about 118,000 with various levels of growth depending on the region. In all, 975,000 new businesses had opened by the end of 2017. The number of businesses that closed fell from 859,000 in 2016 to 857,000 in 2017. Business openings have exceeded business closings for 28 consecutive quarters, Wilmoth noted. California accounts for nearly one-third of the net increase of businesses in 2017, with 38,000.

Source: Long Beach Business Journal

-JK

Summer Dress Code For The Workplace

Summer is in full effect and it’s been hot and muggy in So Cal. Another heat wave is on the horizon this week. We spend our summer weekends at the pool and the beach and when it’s 90+ degrees outside, the last thing we want to do is slip into our wool suits or heavy dress clothing when we go to work. As an employer, how do you treat the dress code standards at your workplace? Do you have a dress code?

Click here to read the California Chamber of Commerce Human Resources Department’s thoughts on the subject that employers should consider – especially during these hot summer days.

-JK

Why Employment Practices Liability Insurance Coverage Is So Important

Quite honestly, I am floored by how many small businesses do not purchase Employment Practices Liability Insurance (EPLI). For those who are unaware, Employment Practices Liability is coverage against claims by employees alleging that they suffered damages as a result of the employer’s discrimination, wrongful termination, sexual harassment, or various other employment-related offenses.

man in brown long sleeved button up shirt standing while using gray laptop computer on brown wooden table beside woman in gray long sleeved shirt sitting

Photo by rawpixel.com on Pexels.com

When saying I am floored by how many small businesses do not purchase EPLI, I am basing that off my own experience in helping businesses with their various risk exposures and insurance needs.

I understand there’s a price tag associated with the coverage, but there’s a reason why premiums can be hefty in California for EPLI.  Statistics show businesses are more likely to face an employment claim than a property or general liability claim.

Check out these statistics:

  • The average amount paid for out of court settlement is $40,000.
  • Defense of an average EPL case, through trial, costs over $45,000.
  • The median compensatory award for EPLI cases is $218,000.
  • 67% of all employment cases that litigate result in judgment for the plaintiff.
  • 41% of all EPLI claims are brought against small employers with 15 to 100 employees.
  • Six out of ten employers have faced employee lawsuits within the last five years.
  • 91,503 charges were filed in 2016, slightly higher than the past two years.

Most importantly, buying an EPLI policy provides defense coverage in the event of a claim or suit regardless of the legitimacy of the claim. A simple allegation cannot be ignored. When you receive that summons in the mail, you cannot just throw it away. It must be addressed and defended. EPLI provides defense coverage to protect your business.

Also, when buying EPLI, you have 24/7 access to Human Resource professionals and Employment Law attorneys to consult with if you need guidance on how to address an employment issue. Carriers don’t want to pay claims, so this offering is pushed on their part to help mitigate the potential of a more serious matter.

In my opinion, Employment Practices Liability Insurance is a must for any business with employees in California. The annual premium cost will seem like pennies on the dollar compared to the cost of a claim. Don’t believe me? Take a second look at the statistics above. You should act today before it’s too late. You can’t buy a policy for an Employment Practices claim or incident that already happened.

-JK

Free, Three-Day Webinar For Small Businesses 5/1 – 5/3

In honor of National Small Business Week, the United States Small Business Administration and the SCORE Association are hosting a three-day virtual conference on topics such as consumer behavior, discrimination, and harassment, gaining repeat business, marketing and more. The free conference for small businesses is from 9:30 a.m. to 3 p.m. each day from May 1 to May 3. Click here to register.

The webinars include the following topics:

5/1/18

  • How Changing Consumer Behavior Impacts Your Business
  • Addressing Discrimination and Harassment in the Workplace
  • Get New and Repeat Business On Autopilot with Email Marketing
  • Creating and Sustaining a Strong Social Presence

5/2/18

  • The U.S. Economic Outlook and Its Impact on Small Businesses
  • Managing Your Finances in the Cloud
  • Grow Your Business in 2018
  • Simple Steps to Choosing the Right Financing

5/3/18

  • Simple Steps to Choosing the Right Financing
  • Sharing Your Story Through Video
  • Pop & Play: How Opening a Pop-Up Shop Can Help Launch Your Retail Brand
  • Fusion Marketing: The Next Generation of Marketing

-JK

%d bloggers like this: