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Thinking about starting a new business? Running a company can be an incredible adventure, and it can even give you more security than a regular day job. Being your own boss may sound like heaven on earth, but what you have to remember is that it’s still a lot of hard work. It’s easy to feel ready much earlier than you actually are, and it’s equally easy to let fear hold you back long after you should have jumped. Here are 8 signs that show you might be ready to start your own business: You have a passion for your new venture. Passion is often overhyped. It’s not enough on its own, but it is essential. Make sure you have something you’re excited about starting, rather than just frustration with your current job. You’re a true believer in your idea. You’ll face a lot of closed doors and “no”s as you start your new venture. You need to have a tenacious belief in your product or service to give you the ability to weather the storm. You have a product or service with a good market. A great business exists where what you love meets what other people will pay for. Before you leave your day job to start a new company, be sure that your product or service has a market. You have a plan. Expecting a new venture to suddenly appear is not a great idea. Before you leave your day job, make sure you have a plan for your new business. Whether that involves a full business plan or a rough outline. You have a good brand idea. Your brand is the way your company connects with the world. Are you irreverent, funny, professional, or classic? Make sure you know your brand and how it connects with customers before taking the leap. You can face the fear of failure. Being afraid to fail can paralyze you in business. We all feel it to some extent, but if you can’t face it, you aren’t ready to start a new business. You can face the fear of success. It sounds strange, but many people are also afraid of success. Success brings higher expectations, more work, and more visibility. If you aren’t ready to deal with these things, you aren’t ready to launch. You have some cash available. While there are businesses you can start with very little capital, the fact remains that it takes time to be successful. If you have some cash saved up or have another way to access the money you need while your company grows, you’re more ready than somebody who’s deeply in debt and counting pennies. #business #startup #idea #startyourbusiness #businessideas

Business owners spend considerable time and energy trying to promote their company value by developing growth plans with well-defined goals.  These plans are targetted to maximize value over time, but it’ is difficult to achieve those goals without knowing where to begin. Not only do business owners need to understand what their business is worth; they also need to know what supports and drives that value. Many times, the owner's over-confidence or apathy causes this step to be neglected, or at a minimum, based on incomplete data or conjecture. In this case, a valuation usually serves as a reality check for owners with a biased or uninformed viewpoint on what their business is worth. Why would a business owner want a valuation? The traditional answer is that valuations are needed to resolve tax or legal issues. However, valuations are actually performed for a myriad of reasons, including but certainly not limited to selling or acquiring a business.  In the cases of death, disability, disaster or divorce, valuations are needed to equitably determine the business assets according to terms spelled out in legal filings. Valuations are often needed when gifting or donating company stock as part of a charitable contribution, in resolving IRS or shareholder disputes, or when converting a C-corporation to an S-corporation.  There could be requirements in a buy/sell, partnership or shareholder agreement that necessitates a business valuation. In addition, owners would generally perform a valuation when attempting to raise strategic capital or obtaining a Small Business Association (SBA) loan.  Implementing an Employee Stock Ownership Plan (ESOP) would certainly necessitate an initial and annual valuation. Moreover, a formal business valuation can help to reconcile perceived opinions on value, and coupled with a marketability analysis, it can help a business owner determine relative value in the marketplace. How does the business valuation process work? The assessment of value is indeed an art form as much as it is a science.  Business valuation is a process and a set of procedures used to estimate the economic value of an owner’s interest in a business.  An accurate valuation of a closely held business is an essential tool for a business owner to assess both opportunities and opportunity costs as they plan for future growth and eventual transition. It provides either a point-in-time assessment of relative value for an owner, or perhaps the price a buyer would be willing to acquire the business. On its face, business valuation is actually a relatively simple and straightforward concept. A qualified professional first analyzes the subject company’s financial statements and considers comparable transactions, industry ratios and other quantitative and qualitative information. Then, applicable adjustments are made to align the subject company to an industry standard or benchmark. Despite the benefits, however, many business owners are apprehensive about what to expect when going through the valuation process. In some cases, valuations can expose areas of the business which actually take away from value, such as weak financial and accounting controls, under-performing assets, and weaker operating ratios relative to its peer group.   The entire valuation process can provide an overview of the strengths and weaknesses of the reviewed company. What are the key considerations for a business valuation? The business valuation professional will first consider the purpose and objective of the valuation. They will then look at the nature and background of the business, its products, and services, as well as the industry life cycle, economic and political environment. Unique factors are then considered, including customer relationships, executive compensation, as well as excess assets, working capital, and liabilities. Considerations that could have a profound influence on value include goodwill or other intangible assets, the dependency on an owner or key employee(s), diversity of the customer base, market position, and the competitive landscape of the industry. #evaluation #business #entrepreneur #businesses

If you have a business or are thinking about starting one, it’s going to be in the real world. Not in your mind. Your audience and customers are going to be real people, not imaginary. So why are you validating ideas in your head? What is Idea Validation? Idea validation is the process of testing and validating your idea prior to launching your business name, tagline, product, service, or website. This is like the research and development process big companies use to test product ideas before they’re released to the general public. Idea validation can involve anything from information-gathering interviews to special landing pages on the web. The entire purpose is to expose the idea to your target audience before you build and release the final product. Here are three things to consider the next time you have your next big business idea. Create a prototype If your business idea is for a product, create a prototype of the product. You can create the prototype yourself or hire someone in that industry to create it for you. For example, if planning on producing drone cases, you can buy the material yourself and create a case based on your design. Don’t worry about producing a large quantity; you just want a few items to photograph and show to potential customers. If you are not creating a new product, but reselling another company’s product, purchase a few items for photographs and to show to potential customers. Once you have received the prototype or product you are reselling, you will want to see if customers are interested in making a purchase. Create a Landing Page Once you have your wireframe, it’s time to create a pre-launch page: Your landing page needs to have data on the following: Very clear communication what the product is Who exactly is this for What is the problem it solves e.g. why should anyone care? Transparently communicate that the product is not quite ready yet This gives users the opportunity to enter their email to find out more about the product once it’s ready to go. Product/Service Survey If you want to talk to your own customers, and understand product satisfaction, feature requests or anything else, a survey can be a great tool. You most likely have email addresses for your customers, or can provide a feedback link on your site, or even embed a survey in-product. However, your respondents are likely your biggest advocates who want to help you, or your least satisfied customers, who may want to complain. This isn’t a sales exercise. It’s a great conversation with someone you respect. It’s not win or lose. It’s a win-win! And it’s the best way to take your idea and business to the next level. #business #idea #validation #startup #valuation #survey #test

If you need insurance coverage for lots of different risks in one package, consider a business owner’s policy (BOP). In this post, we’ll cover how a BOP can help safeguard your small business, and how to customize a policy to fit your particular needs. A business owner’s policy is business insurance that combines general liability and property insurance in one package. This insurance bundle usually covers bodily injury and property damage for yourself and others. So, not only are your clients protected, but you are as well. Plus, a BOP is often more affordable than purchasing individual policies, which makes it convenient and cost-effective. For many small business owners, purchasing a general liability (GL) policy by itself is a go-to move. However, general liability insurance doesn’t normally protect you when it comes to your own property. What does it cover? A BOP covers four main things. Bodily injury (operations) Better known as the “fall and slip” scenario, this coverage includes bodily injuries at a job site. For example, let’s say a delivery person slips on leaking water while they drop off supplies. After they sued your company, a BOP would help to cover the delivery person’s medical bills, loss of wages, and other costs. Bodily injury (product) A BOP covers bodily injury claims that arise from using the product from an insured company. One example of this would be a toddler choking on a small object included with the product because no warning labels were on the product’s packaging. Damage to your property One of the most common “damage to your business property” claims is an office fire, which not only damages your building but causes loss of business too. A BOP would help to cover your costs in scenarios like this. Damage to the property of others in your care Many times, damage to someone else’s property has to do with rented office space. Some companies opt to rent space for their operations rather than buying real estate. In this situation, your business plays the part of a tenant. So, if you cause any damage to your landlord’s property, a BOP would help to cover the loss. But this particular coverage addresses other situations, as well. Who needs it? Most small businesses will benefit from a BOP because well-rounded and affordable. But in particular, you should ask yourself these five questions to decide if BOP is a good fit for you. Do you need a general liability policy? Most small businesses need a GL policy because they face third-party risk, such as the notorious slip-and-fall accident. But think about who covers you should a loss occur to you specifically, such as a fire at the office. Do you own property equipment, such as computers, inventory, printers, furniture, etc.? Dealing with damaged or broken equipment could quickly set your business back financially or put it on indefinite standby. Do you have employees who could potentially act dishonestly? Do you work in an industry with a reputation for employee theft (usually lower-wage jobs)? Or do you have sensitive information that if stolen, would hurt your company? Do you own the building where you conduct business? If you run the risk of having your own property damage, a BOP will be especially useful for you. Do you work with a lot of customer or client data? Being responsible for other people’s information always sets the professional stakes a bit higher. If that information is lost or stolen, you’re held accountable for any mess it makes. #insurance #liability #business #startup #entrepreneur #employee #BOP #action #steps

Social media is among the most effective marketing methods that a small business has at its disposal. However, not all social media channels are created the same. Each platform has its particular set of users with their own quirks as to how they interact with content. Businesses need to be aware of these nuances when deciding to invest in social media marketing on a platform since it could impact how well their marketing efforts do. What Exactly Are You Trying to Achieve? Before dedicating your resources to a social platform, it’s important to define some goals. Your company’s goal might be: More traffic. More sales. More inbound links. A viral marketing campaign to increase visibility. Of course, you might want to achieve all of these things, which consequently work hand in hand: a viral marketing campaign can lead to more inbound links, which subsequently leads to more traffic for your site and ultimately to more sales. How Much Traffic Can You Handle? Different social media sites bring in different levels of traffic, and this can vary heavily according to your company’s niche. As of April 2010, Facebook was towering over other social media platforms in terms of total unique visitors, with 500 million as opposed to under 100 million for both Twitter and MySpace. In less than one year, however, Twitter has increased to 190 million users (nearly doubling) while Facebook now has 600 million users (20% growth). Of course, these are only raw user counts, and they don’t necessarily indicate how much of this traffic will actually see your company. HERE ARE A FEW THINGS TO CONSIDER WHEN CHOOSING THE BEST SOCIAL MEDIA PLATFORM FOR YOUR BUSINESS Consider The Nature Of Your Business It depends on whether the company is business-to-business (B2B) or business-to-consumer (B2C). For B2C companies, Facebook and Instagram help gain visibility, visually engage and interact with customers. For B2B, LinkedIn helps target current and potential clients and builds a personal connection. Also, every business should use YouTube to interact and share. It's Google-friendly and adds authenticity to your brand. Focus On Your Core Target Audience Small businesses can't afford the luxury of failing often, so they need to make sure that their advertising budget is working hard for them. Instead of running after the newest social media property, they should spend time really understanding their audience and where they can find them. In many cases, Google search will deliver the best return; in others, it might be Facebook or Instagram. Research Your Competitors Research all your top competitors. Check each of their social media pages and see what content they are posting, how often they are doing so, and how many users are engaging with that content. Once you conclude which social media platform is yielding the greatest results, choose that one. However, before you start you should set goals and KPIs that correlate with those goals. Understand And Align On Your Social Goals Choosing a platform to focus on is dependent on understanding your goals for social. Prioritizing Twitter to enhance customer care may be beneficial, given it is a top platform for customer feedback. Brands in the travel and hospitality industries may consider Instagram to showcase their offerings and properties in a visually compelling way. Aligning platform benefits with business goals is key. #btheentrepreneur #businesscoach #business #goals #inspiration #entrepreneurlife #blog #socialmedia #smallbusiness #investment #businessowner #investing #personalmindset #charlotteblogger

Many of us are very impulsive when we have a new business idea. The lightning bolt of inspiration strikes us, we get excited and we get to work! We buy the domain, start designing the product, begin to build a website, and imagine the promotions and partners we’ll connect with. The ball starts rolling. Then, a day, a week, or a month later, we wake up and start to see the holes in our plans. Or we see the competitors who are already dominating in our space (and actually have some pretty good ideas we hadn’t thought of). Or we realize that we don’t know if anyone really wants what we’re selling. If it has happened to you, then you may want to do these four things: Collect your ideas in one place and document why you were excited about them Sit on them for a few hours or days before starting to invest and work on them Get feedback from people who have some understanding of the customer Evaluate each idea against the same set of questions to help you think through the true business potential 15 Questions to Vet Your Startup Idea Is the solution well-defined and easily understood by the target customer? Is the solution, as you dreamed it up, going to be clear for your target customer? Is it clear what it will do for them, how they use it, or why they need it? If not, define! Is the solution aimed at a very specific customer profile? Are you aiming for a specific customer, or are you going broad? Having a very defined persona helps you get input from them, develop features for them, and find them (when you want to market). Going too broad can mean that you’re building a swiss army knife to solve everyone’s problem and makes it very hard to market. How motivated will customers be to buy and use this product or service? Is the problem you’re attacking a major pain point for your target persona? If it’s just “nice to have”, chances are they won’t pay for it. Is this solution 10x better than all other alternatives on the market? Most startups will have some form of competition in the market. In fact, the competition can show that the market has potential, especially if people have been around for a while. You’ll have much more success if your solution isn’t just slightly better than those of the incumbents. Is your solution within the budget of the target market? One problem with some ideas is that, while they are 10x more effective, they are sometimes 2x-10x more expensive than current solutions. It’s like comparing an LED bulb to an incandescent bulb. If people can’t stomach the upfront investment (even though the long term savings are there), then you can have a problem scaling up. Is the sale complex, requiring buy-in from several people in the target company? In the past, software companies that started selling to larger and larger companies would need to build out bigger and bigger teams to close the transaction, to implement the solution, and to support the enterprise client. These large, multi-year contracts with heavy implementation and support costs would require untold numbers of people to be involved in closing one of these deals. Today, some SaaS startups can get traction and grow but selling first to one person in an enterprise or to just one team. From this beachhead, they spread into other departments and eventually (based on evidence of internal demand) can move from multiple smaller deals in an enterprise to a larger deal. If your sales process requires fewer people to sign off, you’ll have a better chance of scaling fast within companies. Has there been a test or example of customer willingness to pay for a similar solution? Has there been proof that customers are willing to pay for this (or a similar) solution? Talk is cheap, so if pilots have been run or if competitors are able to sell their solutions, then this helps validate the fact that there’s a willingness to pay. Is it clear how you’ll make money? Is there a clear business model? Is there a clear way to make money? Or is this another social network where “you’ll figure it out after your massive”? Is the purchase one-time, recurring, or periodic? Is this a product or service that lends itself to periodic and ongoing billing (e.g. security software, storage, analytics, insurance)? Or is it a product or service that is a buy one-time thing (e.g. wedding photographer, home purchase, TV, banquet hall rental, etc.)? With the one-time purchases, you need to find a new customer to make another sale (which is where referrals and increasing the total deal value for each sale become very important). With periodic products or services, retention and increasing customer lifetime value (e.g. by upgrading or adding services) become important. Is there a massive market opportunity for this solution? Is this a large market? Is the market growing? If it’s massive and you have a much better solution, the potential is obviously huge. Is there a possibility to be the top player in this space? Is it within reason that you could (at some point) become the top player in this space? Can you be one of the tops, with the right investment? Or, will you be one of many players fighting for your small share of the market? How defensible is the product or service? Do you have any unique intellectual property (IP) related to your solution? Have you (or will you) made significant investments that will help create a barrier for competitors? Do you have a unique market position due to partnerships, contracts, or geographical location? The more defensible your solution, the better. If competitors (especially big, well-funded ones) can quickly replicate your products or services, then you need to think about how you’d counter that. Are there major technical, design, adoption, or manufacturing hurdles to be solved? If there’s one major miracle that needs to happen to make your solution a reality, that can be overcome. If there are two or three miracles, then you really need to consider this idea very deeply. For example, if there’s a major technical hurdle, that’s one. If there’s a government approval or exemption needed, that could be another miracle. If there’s the need to get millions of people aware of your solution to make it work (e.g. a social network), that’s the third miracle. This may be too many for you to overcome. How dependent are you on partners, providers, regulators, manufacturers, or other companies? On a related note, are you dependent on a particular partner, regulator, customer or manufacturer for this business? Do you have clear ways to reach your target market? If you have a clear customer persona, that may lead you to very obvious ways to reach your customer base. For example, if you’re selling toys or games, there are buyer’s conventions that would need to be a key part of the distribution of that product. If you have alliances with companies that are already reaching your target customer (e.g. selling software through a big IT consulting company), that can also be a way to reach your market. If you’re selling to everyone (e.g. “small business”), the path to the individual customers is less clear. Did the questions help you evaluate your idea more deeply? Are there other questions you would add? #business #validation #valuation #startup #idea #market #entrepreneur

When it comes to hiring a person for performing tasks, there are two options available, before the business person, i.e. employee or independent contractor. An employee is a person who provides services to the employer in exchange for adequate consideration, i.e. salary. On the contrary, an independent contractor is a person, or an entity, which provides services to the clients for a definite fee. Making a choice between these two would be difficult as both have their pros and cons. However, if you learn the differences between employees and independent contractors, then the selection is quite easy. These two terms differ in some aspects, like the degree of control, the permanence of relationship, independence, ability to subcontract, the extent to which the work performed is integral to the employer’s business. Does an independent contractor have the same rights as an employee? The importance of defining your status, prior to employment, cannot be overemphasized, as an employee who is misclassified as an independent contractor loses all the rights and privileges of an employee and vice versa. Who is an independent contractor? An independent contractor is a self-employed person, that is, a consultant, lawyer, accountant, engineer, or any other person who provides services to other organizations for a fee. Common law principles further define independent contractor status by the method of payment. If a person is on an employer’s payroll and receives a steady pay, clearly that the person is an employee and not an independent contractor. An independent contractor is free from any control or influence of the client. He can apply his discretion concerning the manner and method of completing the task and whatever the outcome of the task, the independent contractor is responsible for it. Who is an employee? An employee is a person who works for the employer on a regular basis, in return for a remuneration called ‘salary’. The terms and conditions of the employment are described under a contract known as a ‘contract of employment’. An employee gives up elements of control and independence, is eligible for certain benefits, and works within the constraint of the workplace. Why is it important to know a worker’s status? The distinction between an employee and an independent contractor is very important. Apart from the fact that there are incentives for employing labor, an employer must withhold Federal and State income taxes, Social security/Medicare from employees, but not from independent contractors. If an individual is working as an independent contractor, the “employer” does not make any of these deductions and the independent contractor must pay his or her own taxes along with income tax on earnings. #employee #contractors #busness #startups #employer #status #workers

Once you’ve gotten a list of potential advisors, take one more step before setting up appointments to meet: Find out whether each has ever been disciplined for any unlawful or unethical behavior. When you have your initial interview, here are the questions you want to ask: How do you charge for your services, and how much? If you didn’t see this information on the planner’s web site, ask whether there’s an initial planning fee, whether they charge a percentage for assets under management, or whether they make money from selling you a specific product. Not only should you know how much the service will cost you, but it can help you determine whether they have an incentive to sell you things. What licenses, credentials or other certifications do you have? Of the four main types of financial advisors, the certified financial planner (CFP) designation is harder to achieve than Chartered Financial Consultant (ChFC), because the former requires a comprehensive board exam; the latter, however, uses the same core curriculum. If you want someone to manage your money, then look for a registered investment advisor (RIA). If you have a high income or a small business owner, you’ll probably want a certified public account (CPA), who can offer you advance tax planning. The personal financial specialist (PSF) certification is usually obtained by CPAs who want to demonstrate they can help clients with comprehensive financial planning. What services do you/does your firm provide? Implicit in this question is also what assistance the advisor will not give you. “Some people are just investment advisors and only provide you advice on your investments,” Other people do comprehensive financial planning around retirement, insurance, estate planning, and tax planning.” Go with someone whose offerings suit your needs., What types of clients do you specialize in? Some financial advisors have a niche, says Bera, and if you have a specific interest, such as charitable giving or socially responsible investments or if you’re a newlywed or recently divorced — you’ll want to find one that concentrates in that area too. Could I see a sample financial plan? There is no one set structure for a financial plan, which means there is wide variation. “Some people might give you 50 pages of stuff you don’t understand like charts and graphs, and another planner might provide a five-page snapshot of your financial situation. What is your investment approach? If you have a strong preference for a particular philosophy, ask the advisor what his or hers is. For instance, if you prefer to use low-cost funds, you can ask whether they plan to used actively managed funds or passive investments. How much contact do you have with your clients? “Some planners hold an initial planning meeting and then you see them once a year, and that’s all you get,” says Bera. Others might have quarterly check-ins. “Some clients just want to go over everything once a year and then they’re good. Others are looking for more support, so it depends on the amount you want to pay, and how involved you want your planner to be. Will I be working only with you or with a team? This question will also help you see how often you’ll be in touch with your advisor. Some companies have a team approach rather than an individual approach. What makes your client experience unique? This will also give you insight into whether their strengths are the ones you seek in a planner. This pitch would appeal to some clients, but not ones who, for instance, are out to maximize returns in the market. Did he or she ask me questions and seem to be interested in me? “Does he or she talk 90% of the time? If it’s more like 60/40 and he has asked you how he or she can help you, that’s really important. Financial planning about looking at the person’s individual circumstance instead of punching in some numbers — it’s based on the client’s goals, financial background, what they believe about money, and so on. #action #steps #finance #business #startups #entrepreneur

Businesses that are certified as minority-owned can take advantage of special government programs, including increased access to government contracting opportunities that can help them grow quicker. The process of becoming certified as a minority-owned business for the purposes of participating in special programs like those offered by the NMSDC and the SBA’s are significant, but the benefits of being a minority-owned business with certification are vast. From federal and government agencies to private corporations, there are many organizations that want to do business with minority-owned businesses and would even prefer to do so. Certification may provide your business with opportunities it might not otherwise be able to compete for. Many federal government agencies are even mandated to reward a substantial number of contracts to certified minority-owned businesses. For example, the U.S. Department of Transportation requires that at least 10 percent of the money spent on contracts for certain projects go to businesses that are minority-owned. Government agencies and corporations actually set goals for conducting business and buying from minority-owned companies, so becoming certified immediately increases your business’ appeal. Corporations want to do business with minority-owned businesses because they realize that U.S. minorities have great purchasing power. And needless to say, if they want minorities to purchase their products and services, they have to support their businesses in return. Federal officials support minority-owned businesses because they realize that by doing so, they will help the country grow a sustainable economic climate. So, now that you know the benefits of being a minority-owned business, it’s time to look at how you can officially certify your business as minority-owned.

A sound business website should be a perfect reflection of your company and values. You only have a few seconds to illustrate what your business is about, so your website must present your message with precision. In this collection of business websites, I’ve found some websites that are suited to different business types. 1. GYM / PERSONAL TRAINER Built by Squarespace Perfect for gyms, personal trainers or any businesses focused on fitness. Striking motivational images will get customers pumped to join your classes. 2. FESTIVAL / CONFERENCE Built by Squarespace Full-page images and stunning gallery pages make this a great example business website to use for artisanal crafts and bespoke design business. 3. AGENCIES Built by Weebly Great for creative or public relations businesses bold design and bright photos show that you aren't afraid to stand out from the crowd. 4. SALON / BARBERSHOP Built by Weebly A gold and black color palette help to bring this business website to life. Works best for businesses operating in the fashion industry or for appealing to style-conscious consumers. 3. CAFE / RESTAURANT Built by UCraft An attractive restaurant business website. Uses an integrated eCommerce store to allow customers to purchase your products directly. #btheentrepreneur #businesscoach #business #goals #inspiration #entrepreneurlife #websites #smallbusiness #investment #businessowner #investing #personalmindset #charlotteblogger #domain

Though many small businesses use the terms "accountant" and "bookkeeper" interchangeably, these professionals actually provide very different yet complementary services. Bookkeeping refers to the process of recording, storing, and retrieving financial transactions, while accounting refers to the systematic process of classifying, analyzing, summarizing, interpreting, and reporting financial data. Working in tandem, these positions can help lend great clarity to the business decision making process. When you start a business, there are many actions you need to take and systems you need to set up to create the foundation for a successful business. The decision to use an accountant, bookkeeper, CPA, or do it yourself is determined by the size of your company, the complexity of your operations and financials, and the demands of your industry. While these services complement each other, only the largest companies with many daily and complicated financials are likely to need the regular services of a bookkeeper, controller, and a CPA. If you're leveraging outsourced bookkeeping services to fill your bookkeeping and controllership needs, requirements for your accountant may be limited. A small business or a new business may simply not need the more advanced service accountants provide. Hiring an accountant when it is time to file taxes or generate end-of-the-year financial reports may be all the accounting help your business needs. Ultimately you should choose the option that is most likely to yield accurate financial results, as these will help you to make informed business decisions and secure the long-term success of your company. Although you can choose to manage your finances on your own, hiring professionals for this job will allow you to focus more on managing and growing your business.

The Occupational Safety and Health Act of 1970 (OSH Act) is a federal law administered by the Occupational Safety and Health Administration (OSHA). The Act is meant to keep employees safe at work. The OSH Act lets OSHA create and enforce safety and health standards for businesses. The primary goal of the Occupational Safety and Health Administration (OSHA) is to carry out the Occupational Safety and Health Act (OSH Act), which Congress originally passed in 1970. The OSH Act has undergone several amendments and revisions since its inception, but it is still in place “to assure so far as possible every working man and woman in the Nation safe and healthful working conditions to preserve our human resources.” OSHA contributes to job safety and health by enacting regulations that forward this ideal. Title 29 of the Code of Federal Regulations (CF), Parts 1902 – 1990, houses all the OSHA standards, though OSHA also states to enact occupational safety and health laws of their own under federally-approved plans. State-run programs are at least as strict, and sometimes more so than federal standards. This ensures a minimum standard of job safety and health that all employers must follow to protect employees. What are your rights as an employer? When working with OSHA, you may do the following: Request identification from OSHA compliance officers Request an inspection warrant Receive a reason for inspection from compliance officers Accompany compliance officers on inspections Request an informal conference after an inspection File a notice of contest to citations or proposed penalties Apply for a variance from a standard’s requirements under certain circumstances Be assured of the confidentiality of trade secrets Submit a written request to the National Institute for Occupational Safety and Health (NIOSH) for information on potentially toxic substances in your workplace OSHA plays a key role in making your facility a safe, healthy place to work. Beyond providing the tools and guidance to work toward an injury- and illness-free workplace, OSHA is important in identifying businesses that are not committed to safety. Employers that do not carefully follow OSHA regulations often face hundreds of thousands, if not millions, of dollars in fines. #OSHACT #employer #employees #rights business #startups #management