#globalresources

Global Resources helps put small and medium – size businesses on the path to success.  As we begin 2017, we know many business owners are looking to hire new employees.

Here are the important factors to consider before you select and hire your candidate:

• Review the feedback information from the employees who served on your interview team. It’s impossible for 10-12 people to sit at the table to make the final decision, but their input deserves attention and review. Before a recent job offer, three interview team members gave the hiring manager the feedback that one of the candidates appeared to have a 9 to 5 mindset.

•If you have been able to obtain feedback from former supervisors of the potential employee, you have a goldmine to review. Yes, people change, but not that much, and not that quickly. So, performance feedback, and especially the positive response to the question, would you rehire this employee, should be a powerful factor in your decision to make a job offer.

•The time you spend with each candidate is an opportunity to assess the candidate’s potential to fit within your culture. Does this mean that you select the candidate you like the best? Not if you want to make the best job offer. What you seek when you consider cultural fit is the candidate who will succeed in your workplace. For example, you don’t want to select an employee who prefers to work alone for a job whose holder will only succeed by influencing a larger team.

•You do need to assess whether you are confident that the potential employee, with appropriate training and mentoring, can do the job. In answering this question, you also need to assess your candidate’s relevant experience.

Global Resources helps put small and medium – size businesses on the path to success.  In fact, we utilize our expertise to access the information necessary for growth.   Through our affiliated companies, we can even navigate the way through all of your small business tax challenges.

All business professionals must also remember the importance of personal taxes.  Here are some suggestions to help get you ready for the upcoming tax season:

Maximize retirement plan contributions -If your employer offers a 401(k) or other type of deferred pension plan, make every effort to contribute the maximum amount allowable -- especially if your employer matches your contribution. Otherwise you are leaving money on the table that could benefit you in your retirement. Think of the employer match as an immediate 100 percent return on your money. Even if there is no match, all of the funds are tax-deferred and grow tax-free.

Adjust your withholding - Check your year-to-date withholding and consider changing the taxes withheld if you are expecting a large refund. This is especially important if you are claiming the earned income tax credit, or EITC or the additional child tax credit since the IRS is now required by law to hold all refunds on those returns until Feb. 15.

Get organized and reap a tax break - If one of your New Year's resolutions is to simplify and declutter your life, now is the time to get going. You can make money by donating all of those things you no longer need or want in your life. There are many charitable organizations that accept items other than cash such as clothing, books, electronics and other household items. The deduction is limited to the item's fair market value, and the items must be in good condition or better to be deductible. If the value of the noncash items is more than $500, then you must file Form 8283, Noncash Charitable Contributions and fill it in with some details.

Global Resources helps business professionals navigate the evolving world of business. With a target market including businesses which have a minimum of 10 employees and $1 million in revenue, we specialize in small and medium – size businesses.

During the holiday season, employees thankful for their jobs may want to show their appreciation at the office by giving a gift to the boss. But adding a manager to your list may not be the best career move, and it could end up costing you more than you want to spend.

Employees who purchase a gift for their boss might feel pressured to spend more than they want. There’s also a risk of accidentally buying an inappropriate gift, which could create an uncomfortable atmosphere at the office. In addition, some managers may not want to spread holiday cheer towards their employees but feel obligated to reciprocate. And others are just uneasy when an underling buys them a present, especially when it comes from a worker who’s not a good performer or could be on a future layoff list.

When you’re gift-giving in your place of work, the gesture may be perceived as insincere if you expect something in return, or the gift isn’t as a result of a good relationship that you have with your manager. However, gift-giving can be a great, fun experience in the office.  Just be sure you don’t have ulterior motives when adding your employer to your holiday list. When shopping for the gift, spend extra time making sure any work place gift giving is office appropriate!

Global Resources LLC helps the owners of small and medium – size businesses access the information that is often necessary to grow and thrive. In business today, financing a business may be a huge concern.  However, there are a variety of options when it comes to financing your small business. Our consultants can help you explore your opportunities, including utilizing grants.

Surprising to many, the federal government does not provide grants for starting and expanding a business. Government grants are funded by your tax dollars and therefore require very stringent compliance and reporting measures to ensure the money is well spent.  As you can imagine, grants are not given away indiscriminately.

Grants from the federal government are only available to non-commercial organizations, such as non-profits and educational institutions in areas such as, medicine, education, scientific research and technology development. The federal government also provides grants to state and local governments to assist them with economic development.

Some business grants are available through state and local programs, non-profit organizations and other groups. For example, some states provide grants for expanding child care centers; creating energy efficient technology; and developing marketing campaigns for tourism. These grants are not necessarily free money, and usually require the recipient to match funds or combine the grant with other forms of financing such as a loan. The amount of the grant money available varies with each business and each grantor.

If you are not one of these specialized businesses, both federal and state government agencies provide financial assistance programs that help small business owners obtain low-interest loans and venture capital financing from commercial lenders.

Global Resources LLC helps the owners of small and medium – size businesses access the information that is often necessary to grow and thrive. In modern-day business, cybersecurity is a huge concern for all businesses.

Here are important tips to help maintain security in your workplace:

Protect against viruses, spyware and other malicious code- Make sure each of your business’s computers are equipped with antivirus software and antispyware and update regularly. Such software is readily available online from a variety of vendors. All software vendors regularly provide patches and updates to their products to correct security problems and improve functionality. Configure all software to install updates automatically.

Secure your networks - Safeguard your Internet connection by using a firewall and encrypting information.  If you have a Wi-Fi network, make sure it is secure and hidden. To hide your Wi-Fi network, set up your wireless access point or router so it does not broadcast the network name, known as the Service Set Identifier (SSID). Also, password protect access to the router.

Establish security practices and policies to protect sensitive information - Establish policies on how employees should handle and protect personally identifiable information and other sensitive data.  Clearly outline the consequences of violating your business’s cybersecurity policies.

Educate employees about cyberthreats and hold them accountable - Educate your employees about online threats and how to protect your business’s data, including safe use of social networking sites.  Depending on the nature of your business, employees might be introducing competitors to sensitive details about your firm’s internal business. Employees should be informed about how to post online in a way that does not reveal any trade secrets to the public or competing businesses.  Hold employees accountable to the business’s Internet security policies and procedures.

Require employees to use strong passwords and to change them often - Consider implementing multifactor authentication that requires additional information beyond a password to gain entry. Check with your vendors that handle sensitive data, especially financial institutions, to see if they offer multifactor authentication for your account.