Tag Archives: Business Tips

Workers Compensation Insurance

What Does Workers Compensation Insurance Cover

Have you ever fallen ill at work and needed to take time off as a result? Have you ever suffered an injury while you were working? Many have and don’t realize that they’re entitled to workers compensation. It’s important to know your rights when something goes wrong. Let’s take a look at the basics of workers compensation insurance, what it is and who is covered.

What Exactly is Workers Compensation Insurance?

Workers comp is a type of insurance payment, which is issued to employees who become ill due to their work or get injured while they are on the job. Different payment terms may be stipulated in different circumstances. Some of these include:

  • Regular payments (weekly or monthly) to cover your loss of income while you are unable to work.
  • One, lump-sum payment in cases where the employee was left with a personal disability.
  • The costs of medical care.
  • Rehabilitation expenses to allow the individual to get back to work.

What Does Workers Compensation Insurance Cover?

This type of insurance is known as “no-fault cover,” which means that the cover applies no matter which party is at fault. Workers comp aims to cover both the employer and the employee should an injury occur on the job. If this happens, then the employer is legally required to pay out compensation to the employee. The workers compensation insurance also provides protection for the employer against costly claims for compensation.

These insurance policies are designed in such a way that they don’t just cover the one who is entitled to the work comp claim but also the legal fees and damages which are awarded to the injured or sick employee.

Who is covered?

All of the employees at the company are covered, regardless of whether they are full-time, part-time or casual workers. Contractors and sub-contractors are also covered, as are task workers and any workers on commission.

About the author:  If something has happened to you at work and you think you are entitled to a claim, get in touch with Peter Green Insurance today. Our experienced team will be able to tell you what your next step should be.

Get Those Operating Costs Under Control with the Right Merchant Account Provider

Is your small business struggling under the weight of operating costs? Even those owners with a history of business experience and acumen can find that the tools they need eat too much into their profit margins. Payment processing, for example, seems like a system of fees you grudgingly must pay in order to provide your customers the convenience of debit and credit payments. In the modern market, you can’t forgo digital payment processing, either, but you can ensure that your retail merchant account is providing you the best and most affordable card processing solutions. Our AVPS team will help you determine if you can reduce those operating costs by giving your current payment processing a serious check-up. By taking a second look, you may find out that you are eligible for better rates.

Card Processing is Not “One Size Fits All”

Card processing set-ups that work for some businesses may not necessarily be right for yours. From mobile processing to retail storefronts, we specifically connect with our clients to understand their needs. When you partner with us, we’ll look at any factors to ensure we are giving you exactly the solutions you need:

  • Business type—Are you a wireless merchant/e-commerce business or do you have a physical brick and mortar location? (Or both?)
  • Customer volume—Will you need multiple payment terminals to accommodate your customers in a timely manner? If you have a website, how is your check-out process set up?
  • Physical location requirements—How your physical operations work may make some card processing equipment too large or restrictive. Mobile processing may be better for you.
  • Financial goals—Do you anticipate needing a merchant cash advance? We can help you better understand how your merchant account fits into your financial future and growth.

About Author: AVPS believes that, when you accept credit cards, your business should not feel like you are overburdened with hidden fees. Let us show you why businesses across the nation trust us with their retail merchant account needs. To learn more, contact a representative today!

How Can Benchmarking Improve My IT Contractors Business

It’s a curious problem: You worked your way through the corporate maze, amassing experience, expertise and praise to the point that one day, the confidence swelled inside you and you realized, I could do this better on my own. So you ventured out into the world as an IT contractor, a scary proposition, the lack of a safety net and all. But you found your first clients quickly. Rather, they somehow found you. And your instinct was right; you could do this better on your own. Some of those very satisfied customers referred you to friends’ companies and opened up inside tracks to a few open contracts. The pieces are falling into place so easily, much easier than you ever had a right to expect. Yet, you have no idea just how well you’re doing. Your attention was honed on building your business, so much so that you never paused to consider what you were building it toward

Because of the nature of the work, IT consultants and contractors are especially prone to isolation from their industry, much like a Michelin-star chef. Gastros and peers may be in awe of her ability, reservations a logjam for the foreseeable future, but her world, for all practical purposes, is contained to that kitchen. Success, to her, is measured by perfect execution and a depleted inventory at the end of the night. Not to imply that they’re insignificant, because they by no means are, but they are shortsighted. By not knowing her audience or her peers (friendly and otherwise), she’s missing opportunities to capitalize. And, worse, she could also be blindsided by inevitable shifts in taste.

What Is Benchmarking?

All of this is to say, it’s critical to know where you stand. It was a blind spot that we began noticing soon after our start, over 25 years ago, as we nurtured a client base largely comprised of small businesses, a large share of which became IT contractors and consultants as tech took over our lives. In response, we developed a process we call Benchmarking. Basically, we take a snapshot of a your particular segment of the industry to establish revenue and expense baselines. From there, we can tell you where you fall and even if this surge in business is a result of your practices or a budding need in the region. In other words, is it sustainable?

Where accounting advice can feel like a one-size-fits-all template, as accountants for IT contractors, we’ve learned to anticipate your particular needs and craft relevant, nuanced strategies for filling them, because the trickiest part about knowing where you stand is that the ground’s always shifting.

Author: CA4IT has  30 years of experience supporting IT professionals, independent professionals and project managers