Tag Archives: small businesses

Help needed: What can Congress do to help small businesses affected by hurricanes?

October 16, 2011   admin   No comments
Focus-Entrepreneur

Focus-EntrepreneurWhen hurricanes ravaged the southern Gulf Coast, small businesses in particular were hard hit, and many employers in the region fear they will not have the capital to rebuild. Since the hurricane, some small business owners have begun to complain that aid designated for the region is not coming. We talked with our “Point / Counterpoint” team, veteran New York Rep. Nydia Velazquez and Rep. Rick Renzi of Arizona, what Congress can do to help entrepreneurs in the Gulf Coast recover.

ENTREPRENEUR: In your opinion, what programs would best benefit entrepreneurs in the devastated regions?

REP. Renzi: The best type of short-term program is the right combination of grants and loans. However, the federal government must provide the total solution. These short-term programs can come from private, local, state and federal – right after the hurricane hit, donations from private foundations and the Federal Emergency Management Agency helped meet the immediate relief needs of employers. In the long run, the American Bankers Association has recommended that the SBA allow private lenders to offer SBA also backed disaster loans. I’m open to [a] private sector solution backed up.

REP. VELAZQUEZ: The government must play a key role. The SBA has to offer not only immediate disaster assistance, but [also] ensure that these companies are prepared for the long term. We have the [SBA] microcredit program that will come into play here. The SBA has to go back to the drawing board and develop a strategy of how we speed the loan process.

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Employers Liability Insurance and its benefits for small businesses

September 12, 2011   admin   No comments

insuranceAny company, big or small, that employees must have permanent or temporary employers’ insurance liability. Not only necessary but mandatory in the United Kingdom in accordance with the Employers Liability (Compulsory Insurance), 1969. This helps the insurance company to cover unexpected expenses that comes from injury or death of its employees. Especially for small businesses, this is particularly advantageous because of the soaring costs of health and safety needs, which when incurred unexpectedly makes it difficult for business to bear.

The following discussion points will help you know what actually the liability insurance covers employers and why it is important for small businesses.

What responsibility do you cover? Employers insurance liability covers the costs associated with injuries or fatalities occurred to employees on site or off site in the course of their work. In addition to medical costs, lost wages during the treatment of employees is also covered. It also covers legal costs incurred because of the demands made by the employee / his family against the employer for injury or death.

How useful to the employer? Small businesses have limited capital, which is not sufficient to rescue the business of the difficulties. The cover of the employer’s safety is an important part of the risk management business. Thus, by having an employer of liability insurance, small businesses can be assured of timely monetary help at the time of unforeseen financial liabilities. In addition, make sure you create a sense of security among employees. It also shows that the employer cares about employees.

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