Mar 24, 2022 | Business Law
According to N.C. Secretary of State Elaine F. Marshall, “new business creation filings for 2021 grew 40% over 2020 to total 178,300 new North Carolina businesses.” If you are one of these new business owners, you know how challenging it may be to work with business partners. Here are three steps you can follow to avoid conflict with your business partner. 1. Do Your Research If you are starting a new business with a partner, there are a few things you should be doing to help with any conflicts that may arise. The first is conducting your own research on your potential business partner. Taking the time to research your partner’s work experience, business knowledge and other determining factors that may show their level of expertise is important. Launching a business or company is not easy. Putting in the work to not only find a credible, trustworthy, reliable, and dependable business partner is not something that happens overnight. The initial step of finding the right partner is not a process that should be rushed. The success of your business or organization depends on you doing your research. 2. Communication The key to developing and maintaining a business relationship is communication. Having an open line of communication between you, your business partner and even your team is an important part of preventing or dealing with conflict. Do you know the communication style of your business? Do you the communication style of your business partner? These are questions you should know the answer to. A 2021 article from Indeed lists four communication styles that may impact a work environment. The four...
Feb 22, 2022 | Business Law
The “Great Resignation” continues to be a hot topic for both employees and businesses owners. It’s no secret the traditional workforce as we know is changing. New business startups and established organizations are experiencing the “growing pains” of an evolving workforce. As your business continues to grow, here are three things to keep in mind or know while navigating the “Great Resignation.” 1. What is “The Great Resignation?” The first thing you should know as a business owner is an accurate definition of “The Great Resignation.” If you’re a little confused about “The Great Resignation” and what it really means, here’s some background on where the term came from. According to Anthony Klotz, associate professor of management at Texas A&M, the “Great Resignation” is referred to as the “widespread trend of a significant number of workers leaving their jobs during the COVID-19 pandemic.” Klotz, who coined the term in a 2021 Bloomberg article, forecasted the rise in employees quitting their jobs. In the original piece, the associate professor says, “When there’s uncertainty, people tend to stay put, so there are pent-up resignations that didn’t happen over the past year.” In December of 2021 alone, 4.3 million Americans quit their jobs, according to the U.S. Bureau of Labor Statistics. It’s easy to see why business owners are struggling to keep and recruit new talent. While no one can predict the future of what the workforce will look like in the next few years, it’s important to be well-informed and knowledgeable of all things that will impact your business. 2. Self-care Now that you know the proper definition for “The Great...
Jan 27, 2022 | Estate Planning
We have updated our Estate Planning guide for 2022. As your life changes, so should your estate plan. Our attorneys answer some common questions in this updated article. Find out the new gift and inheritance tax limits; learn how to avoid probate; discover whether a trust might make sense for you; and more. LEARN...
Nov 22, 2021 | Employment Law
By Attorney, Bradley Hunt The landscape of traditional employment is changing. Whether you’re a traditional employee or a contract one, you should know what type of employment agreement you are signing or adhering to. Understanding the difference between an employee and an independent contractor is important. Traditional vs. Contract According to the Internal Revenue Service (IRS), there are three categories that must be examined to determine if a person is an employee or an independent contractor. These three categories include: Behavioral Control – covers facts that show if the business has a right to direct and control what work is accomplished and how the work is done, through instructions, training, or other means.Financial Control – covers facts that show if the business has a right to direct or control the financial and business aspects of the worker’s job.Relationship of the Parties – covers facts that show the type of relationship the parties had. Unlike behavioral control, relationship of the parties may include details related to but not limited to written contracts, employee benefits, and permanency of the relationship. Independent Contractor While there are many differences between being a traditional employee and a contract worker, there is one main element that applies to contract employees. For a contract worker, the IRS states that “An individual is an independent contractor or 1099 employee if the payer has the right to control or direct only the result of the work and not what will be done and how it will be done.” As a contract worker knowing what state or federal laws, rules, or guidelines are applicable to your line of work...
Oct 30, 2021 | Just Great Info, News
According to the National Domestic Violence Hotline, “More than 1 in 3 women and 1 in 4 men in the US will experience rape, physical violence, and/or stalking by an intimate partner.” This is just one of many frightening statistics related to domestic violence. Domestic violence impacts everyone, not just the victim. From lost days at work or underperformance to the impact on children who may see and mimic and perpetuate this behavior, we all pay the price. That’s why since 1987, October has been designated as “Domestic Violence Awareness Month.” What began as a way for organizations to shine a spotlight on domestic violence issues has now turned into a movement to develop and advance resources for victims and survivors of domestic violence on a national level. Domestic Violence Statistics According to the North Carolina State Bureau of Investigation (NCSBI), “There were 134 victims of domestic violence-related homicide in 2020,” with 77 victims being classified as female and 57 being identified as male. Additionally, the NCSBI reports six commonplace relationships between victim and offender. These relationships are: Current or former spousesPersons who are living together or have lived togetherRelated as parents and children, including others acting as parents of a minor child or as grandparents of grandchildrenHave a child in commonCurrent or former household membersPersons who are in relationship or have been in a relationship Signs of Domestic Violence Abuse often starts with small things and escalates. Abusers often apologize and promise never to hurt you again, but without professional help, they will likely repeat this abuse. Just a few signs of domestic violence include: Trying to distance...
