Monthly Archives: May 2019

Are Group Captives Right for You?

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Group captives are one important form of workers compensation insurance. These options allow members to join together to increase purchasing power and reduce risk. They help to improve cash flow and lead to better income tax benefits. However, this type of insurance option isn’t the right solution for everyone.

It’s important to recognize that there are multiple types of group captives. They are either homogenous, or only open to a specific group of members, and heterogeneous, or open to a variety of members. Within these two classifications, there are many minor differences from one agency to another. How can you tell if this option is right for you?

Determine Your Ability to Share Risks

Each member of the policy should be able to share the same amount of risk. You, as a member, must understand the magnitude of the risk as a whole and also on an individual basis to make …

Items Your Small Business Should Invest in

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Small business owners are constantly looking for ways to grow and improve their business. Saving money wherever possible can really help, but a lot of owners don’t realize how beneficial investing in your business can be. Consider investing in these items to help you with costs later on. 

Employees

It can be hard to find good employees, which is why you need to be competitive with your salary and benefits. Treating your employees with respect and creating a good work environment for everyone can help prevent high turnover. Training people to work for you can be expensive, so holding on to good workers can end up saving you quite a bit of money. It may even be less expensive to raise the salaries for some than continuously having to hire new people. 

Equipment

The type of equipment you need depends on what kind of business you have. Buying is not always …