Congratulations on being an entrepreneur!! You are the master of your own ship. You are the decision maker, the employee, the finance department, HR, marketing…You get the point – you are it.
Sometimes, you are fortunate enough to have employees. Whether you are just starting or you are a matured business, it is critical that you are aware of potential fiduciary risks. What’s that you may ask?
It is a business owner’s responsibility to manage policies and procedures according to established regulations that are in place to protect the interest of all those who are employees of their business (even a business of one). This includes but is not limited to :
- Establishing Payroll processing
- Selecting Healthcare providers
- Offering and Managing Retirement Savings
- Preparing and Tracking Records for Audits and Taxes
Fiduciary responsibilities tends to be overlooked quite often and as a result leads to the failure of so many businesses. It is very important to pay attention to the health of your business.
Engage Forward LLC works with business leaders to identify potential risk exposures and correct them before it’s too late.