A strong business credit report is important to running a successful business. Traditional and even some non-traditional lenders use business credit reporting agencies such as FICO Small Business Scoring Service to determine a firm’s creditworthiness when evaluating an application for a loan. Yet because many woman and minority-owned businesses have limited access to credit, they […]
On Sept. 5, 2019, Manhattan District Attorney Cyrus R. Vance announced the indictment of an unlicensed labor broker, Alvador Almonte Jr., and his insurance broker for conspiring to avoid nearly $1 million in worker’s compensation insurance premiums. Almonte and his broker, Steven Asvazadourian, were charged in a seven-count indictment that included Insurance Fraud in the […]
Each year, Fit Small Business names the top U.S. states for female entrepreneurs, using criteria such as how business-friendly the states are and the number of female-owned start-ups already operating there. Historically, coastal states like California and New York have dominated the list. But with so many start-ups gravitating towards the coast, middle America and […]
Despite advances in workplace safety and the best efforts of employers, on-the-job accidents happen all too frequently in the United States. According to data from the U.S. Bureau of Labor Statistics, there were 2.8 million non-fatal workplace injuries reported in 2017, which translates to 2.8 cases per 100 private-industry FTEs. There were 5, 147 fatal […]
The Minority Business Development Agency (MBDA) just announced the winners of its prestigious Minority Enterprise Awards. The awardees will be formally recognized at a ceremony held at the Washington D.C. Intercontinental Hotel on Monday, Sept. 9, 2019. The awards ceremony will be the kick-off event for Minority Enterprise Week, which runs from September 8 through […]
The state of Texas is about to usher in some significant changes to its workers’ compensation laws. The statutes significantly impact first responders, including firefighters and peace officers, who will have broader protections under the new rules. Other changes include expansion of the role of advanced practice nurses and clarification of the rules around injured […]
The Department of Defense has announced new funding opportunities through its Small Business Innovation Research (SBIR) program. The funds will be made available to selected small businesses based on proposals submitted between Sept. 24, 2019, and Oct. 23, 2019. The Army, Air Force, Defense Health Agency, and the Missle Defense Agency are all participating. A […]
If you’re a minority entrepreneur just starting out in business, there are many things you need to do. Choosing a business name and legal structure, creating your business plan, developing a marketing strategy, and setting up accounting and record-keeping systems are just a few priorities that should be on your list. You’ll also need a […]
Over the past decade, the direct cost of workers comp claims has increased significantly, in large part due to the rising cost of prescription drugs. According to the National Council on Compensation Insurance, the average direct cost of lost-time claims in 2015-2016 was $39, 424, up from an average of $26,400 in 2009. The highest […]
The State of California boasts the country’s largest economy, with a state GDP of over $3 trillion in 2018. And within the state, the largest economy by far is Los Angeles County, which had a population of over 10 million and a gross economic output of over $700 billion in 2018. Not surprisingly, the area […]
