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Agricultural Diversification: Don’t Put All Your Eggs in One Basket

For hundreds of years, Americans and the world have benefitted from farmers working their land. Over the same centuries, farmers have lived through many boom and bust cycles, dry and wet seasons, and fluctuations in commodity prices and input costs. They’ve had to diversify their income streams by working smarter – not harder. Through it all, the American farmer has learned the validity of the age old lesson of ‘not having all of your eggs in one basket’.

Applying this old adage to their everyday lives, farmers have diversified their income streams in a variety of ways. For example, many…


Protecting Your Business from Social Engineering Fraud

Fraud has been around for thousands of years, probably since the existence of man. As technology continues to advance, thieves are adapting as well. The FBI has identified more than 14,000 U.S. companies that have been plagued by social engineering fraud. This type of attack is on the rise – since January of 2015 incidents have increased more than 1300%.

Thieves use social engineering fraud to attack businesses that send wire transfers on a fairly regular basis, typically targeting CFOs and controllers who pay the bills. The fraudsters will hack into an email server to see who requests these wires…


Is an SBA Loan Right for Your Business?

Are you looking to start a business or is your small business poised for growth? Access to capital is often one of the biggest challenges facing small businesses, however an SBA loan could be the solution.

What is an SBA Loan?  

The Small Business Administration provides a number of financial assistance programs for small businesses that have been designed to meet key financing needs, however, the SBA does not lend the money directly to business owners. Instead it provides a guarantee to banks and lenders for the money they lend to those businesses owners. This guarantee protects the lender’s interests by…


Increase Business Efficiency and Mitigate Fraud

Business owners and their bankers often spend time talking about how to obtain the best loan, interest rates and terms, but it is also important to discuss the fundamentals of running an efficient operation. Cash management services are a key component to improving the cash flow process and they can also be a valuable tool in fraud prevention. Here are a few cash management services to consider that can help increase efficiency and mitigate fraud.

E-services – Online banking services have valuable tools to streamline the payable and receivable process such as Automated Clearing House (ACH) transactions. ACH times are becoming…


What Changes to Obamacare Could Mean for Employee Benefits

In the midst of the national debate surrounding what will happen next with the proposed replacement of the Affordable Care Act (ACA), there are some key trends that have emerged regarding the options and strategies that all employers face at benefits renewal time each year.

As the benefits industry braces itself for inevitable changes, there is certainly a feeling of uncertainty. Employers and advisors who embrace change and have strategies that incorporate these emerging trends will be prepared regardless of what happens next. Any employer offering health benefits plans should be aware of these key topics:

American Health Care Act: The…


Human Capital Trends Businesses Need to Watch

All business leaders, not only HR executives, need to be focused on human capital as an integral part of their business plan. As the HR field has evolved, it has become clear that a smart human capital strategy can create a solid competitive advantage. Some exciting things are expected to unfold this year including compliance driven trends and shifts in the areas of engagement and culture.

Compliance

Employment law is a constantly changing landscape, and with the Trump Administration forging ahead with its agenda, the next four years should be no exception. The possible changes may ease the burden on businesses…


Want to Win More Sales? Lead with a Payment Option

Purchasing needed equipment for your business can be tough. While improved equipment can cut costs, increase sales and help create a healthier bottom line, strict budgetary constraints make it difficult for business owners, both small and large, to buy or upgrade equipment that will allow their companies to operate more efficiently.

A great way to avoid budgetary objections is to lead with a monthly payment option. It’s simple, if you make your equipment easier to purchase, more people will buy it. Even though it is necessary for their business, owners are often nervous about spending tens of thousands of dollars…


Is Your Business Ready for a Growing Economy?

The state of the economy has challenged businesses for several years, but we are starting 2017 with positive economic momentum. The last year ended with many economic indicators pointing towards a growing economy. It is thought by many economists that if we achieve lower taxes, less regulation and expanded trade, our economy will grow even faster. Is your business ready for that growing economy?

To ensure you are prepared, consider these three things while there is time to create plans and strategies to achieve growth:

Working Capital

Will you have enough capital to support your growth? Now is the time to evaluate…


5 New Year Resolutions for Your Business

As business owners look toward the new year, there are certain things that can be done to help make 2017 better than 2016. I chatted with Richard Capasso, CPA, CFP and PFS at Clairmont, Paciello & Co. to create a list of five things to help set your business up for a successful year ahead:

Make a Plan: It’s been said, “People don’t plan to fail; they fail to plan.” This year, take the time to develop a financial plan for your business. It can be simple or complex – you decide; but make a plan. To start, identify your…


Does Your Business Qualify for PA Construction Credit?

The Pennsylvania Construction Classification Credit is a program that provides a workers compensation premium credit (discount) for up to one year. This credit is in addition to your current workers compensation rates and should not be mistaken for a safety credit. A company that contains one or more construction classifications is eligible to apply for the credit. The best part, it only takes a few minutes to complete the forms and it is free to apply.

The program was first designed to give a credit to union contractors/company’s due to their higher payroll exposure, and the higher workers compensation premiums…

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