Building Your Roadmap: The Basics of a Small Business Plan
By DeAnn Chase December 22, 2020 Category: Corporations, LLCs, & Partnerships
Your business plan is a roadmap to your business’ success. It is the basis—the foundation—for creating a business that will beat out those SBA statistics, that will survive beyond year one and beyond. For you, the business plan is your guideline. For potential investors or venture capital providers, your business is insight. People who are considering whether to invest are going to be looking for an exhaustive outline of where you plan to take the business and how. And although banks and investors may have specific requirements when it comes to what’s in your business plan, below you will find... READ MORE
Be Prepared for California Family Rights Act Leave Beginning January 1, 2021
By DeAnn Chase December 16, 2020 Category: Employment
Last month’s blog post and newsletter set forth new employment laws coming in 2021, including SB 1382 which provides that effective January 1, 2021, the California Family Rights Act (“CFRA”) will be expanded to apply to smaller employers (with 5 to 49 employees) and not just employers with 50 or more employees. The following sets forth basic information related to CFRA leave. You should consult with an employment attorney to discuss any questions you have about implementing a CFRA policy at your organization and to ensure that you are in compliance with this complex law. What is CFRA and Who... READ MORE
Article written by Gabriela Lamond, Associate Attorney, Chase Law Group, P.C. SB 1159 became effective on September 17, 2020 and created three (3) different rebuttable presumptions with respect to an employee’s claim that he/she contracted COVID-19 at the workplace. The third presumption, which only applies to employers with five (5) or more employees, also imposes additional employee tracking and reporting requirements. Additionally, SB 1159 requires that employees must exhaust any special COVID-19 related sick leave benefits before receiving any temporary disability benefits, however, employees are not required to exhaust any regular sick leave benefits. 1. March 19 – July 5, 2020... READ MORE
Article written by Gabriela Lamond, Associate Attorney, Chase Law Group, P.C. On September 17, 2020, Governor Newsom approved of changes to the California Labor Code with respect to an employer’s tracking, reporting, and record-keeping requirements for COVID-19, as well as new rebuttable presumptions for employees submitting workers’ compensation and disability benefits claims related to COVID-19. These changes were presented in California Assembly Bill 685 (AB 685) and California Senate Bill 1159 (SB 1159). Effective January 1, 2021, AB 685 imposes new COVID-19 notice, reporting and record-keeping requirements for California employers. Notice Requirements for Potential COVID-19 Exposure If an employer receives notice... READ MORE
By Scott Liner Employment Law Attorney This year was a very challenging year for employers to say the least. With 2020 almost in the books, there are a number of new employment laws that employers should be aware of and can prepare for moving into next year. The following are key new laws that will impact California employers next year. Increase in Minimum Wage: Effective January 1, 2021, the state minimum wage increases to $14.00 per hour for employers with 26 employees or more and to $13.00 per hour for employers with 25 employees or less. Note that if an... READ MORE
Options for raising capital for your small business (part 2)
By DeAnn Chase November 13, 2020 Category: Business Law
You’ve worked out your business idea, but how do you move on to the next step and get your business off the ground? Access to capital is cited over and over by small business owners as one of their biggest challenges. Understanding your options for funding is the first step toward securing it and in this article we’ll cover several options. Before we dive in, though, it’s good to know that most small businesses piece together their funding from several different sources over time. So take stock of where you are and what you need for the near future knowing... READ MORE
Raising Capital for Your Business Without the Bank
By DeAnn Chase October 30, 2020 Category: Business Law
Every entrepreneur knows that having enough money to start the business is mission critical—everything needed to turn ideas into a viable business requires money. The good news is there are many resources and options for business owners when it comes to business capital, and several don’t require setting foot in a bank. Personal Savings In business, “bootstrapping” means starting a business without external help or capital. Using personal savings as business capital is one form of bootstrapping that allows you to avoid relying on third parties, investors, or a financial institution for funding. While using your own savings may have... READ MORE
Small Business Failure – What to know so you can succeed
By DeAnn Chase October 13, 2020 Category: Business Law
According to the Small Business Administration (SBA), 80% of businesses survive the first year, but almost half of the businesses fail by year five, so it's a progressive downslide from year one. However, successful entrepreneurs are increasingly encouraging new generations to start a business. Entrepreneurs and professionals that support small businesses are building a community of legally savvy entrepreneurs, sharing legal knowledge and information that entrepreneurs need to know right from the start and at every stage of their business development. To prevent failure, it’s important to know what can cause it. The reason that many small businesses fail is... READ MORE
Solid legal structures, which include a business entity and customized contracts, are essential for business success. There are several types of business structures in the U.S. Each structure has different tax, income, and liability implications for businesses owners and their companies. Accountants are a good resource when determining the type of business entity. Sole Proprietorship Sole proprietorship is the simplest organizational structure available for businesses. A sole proprietorship is just a single person who does business through a fictitious business name. Businesses that typically form sole proprietorships are home-based businesses, shop or retail businesses, and one-person consulting firms. Partnership A... READ MORE
Employers: Avoid Discrimination Claims Due to Coronavirus
By DeAnn Chase March 19, 2020 Category: Business Law
The coronavirus pandemic is forcing employers to make tough decisions that could lead to legal consequences, including a rise in discrimination claims. As in all employment-related decisions, it is important to tread cautiously when considering how your business will respond to COVID-19. Crucially, it is important to follow CDC guidance, and avoid "mak[ing] determinations of risk based on race or country of origin," in order to avoid "stigma and discrimination in the workplace." Instead, when deciding whether to send someone home from work, make sure that your focus is on individuals who demonstrate symptoms of potential COVID-19 infection (fever, cough,... READ MORE