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Bookkeeping at a Small Business

You are passionate about your small business, but every time you finger through your financial records, your eyes glaze over. Bookkeeping does not have to be an intimidating or boring chore. Even small businesses have several options on how to get this vital task completed. Sure, you can learn to do it yourself, but you can also hire some help—whether it’s from a full-time employee, or an out-of-house temporary bookkeeper.

DIY Bookkeeping

The primary advantage to DIY bookkeeping is that it’s inexpensive, although it will cost you time. You will also erase any worries that the person looking over and organizing your books is untrustworthy. On the other hand, you may not trust yourself with such an important task. It will become your responsibility to track every receipt, invoice and expense. Overlooked details could lead to confusion or even financial catastrophe. Doing your own books is typically only recommended for very small businesses that don’t require a lot of time for tracking the numbers, and it should only be attempted by business owners who know the ins and outs of financial record keeping.

Out-of-house Bookkeeping

Hiring temporary help for keeping the books may be more expensive than doing it yourself, but in the long run it could save money by giving you back the time to work on what makes your business profitable in the first place. An out-of-house bookkeeper may seem risky if it is someone you do not know or trust. Cut down on the risk by finding suitable help through a temp service that screens applicants before placing them in a position.

In-house Bookkeeping

Some businesses hire a full-time bookkeeper. For most small businesses, a year-round in-house employee is an unnecessary and expensive option for keeping the finances organized. Remember, a full-time staff member will be paid whether you have enough work for them or not. Additional insurance, vacation time, and sick days will also cut into the budget. However, if your small business is rapidly growing and you want the assurance of working with someone who knows your company inside and out, these extra expenses may be worth it.

If you decide that hiring a bookkeeper in house may be your best bet, you may want to explore our personnel services at Labor Systems Job Center. We can provide you with basic bookkeepers, office assistants and more. Visit us online or give us a call at 877-836-7527 for more information.

Sources:

Small Business Bookkeeping (Small Business Finance Tips)

Small Business Bookkeeping and Accounting (SweetHaven Publishing Services)

In House versus Outsourcing Bookkeeping (Winters Associates)

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Managing Safety on the Construction Site

Although a vital industry to the community, construction work ranks as one of the most dangerous jobs in America. Workers face the possibility of injury or death while they climb, build, or use heavy machinery. Construction managers face a heavy responsibility to make sure their workers are well trained and safe while they build on the job site. Many accidents can be prevented by a careful foreman who anticipates dangers before they arise.

Environmental Safety

Arizona construction workers automatically face two safety concerns before they even pick up a tool: extreme heat and dangerous outdoor critters that can hide amidst the chaos of a construction site. The foreman should carefully observe the environment his workers will be performing in before the job begins. To prevent heat-related illnesses, plenty of water should be available to keep the team hydrated, and a regular schedule of breaks should be set up to give team members an escape from the heat.

Head Protection

A universal rule for any construction site is “cover your head.” Mandatory use of a hard hat should be in effect whether the worker is on the ground or in the air. This can protect them from falling objects, head bumps, or exposure to electrical hazards while on the job.

Preventing Falls

Falling is the most common cause of fatality on construction sites. The foreman can help protect his workers from this threat by consistently using guard rails, safety nets, and fall arrest systems where there is potential for a dangerous fall. A foreman can tell where to use extra precautions by looking out for high, unstable surfaces, where the majority of falls will take place.

Workers’ Compensation Insurance

In Arizona, worker’s compensation insurance is mandatory on construction sites. Your policy will cover any injury or illness that results from the work environment, without question to who is it at fault. Sometimes workers’ compensation will also provide a temporary or permanent income for those who cannot come back to work after an accident. Policies can be provided by a licensed insurance company or employers can apply to become self-insured by contacting the Industrial Commission of Arizona.

Hopefully, your site will remain accident free. Nothing troubles an employer more than the potential of staff injury on the job. If you would like to bring on staff who have already completed some general safety training, visit us online and find out more about what we can offer.

Sources:

Construction (CDC)

Worker’s Compensation Insurance (Industrial Commission of Arizona)

Construction Worker Safety Series (United States Department of Labor)

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How Manufacturing Jobs Can Help Our Economy Rebound

When the economy has lagged in the past, manufacturing jobs have helped stimulate both local and national economies by creating more wealth for the community. It does this by providing a variety of jobs with livable wages, decent benefits and stability, and helping other suppliers and retailers stay afloat in their businesses.

When many companies are floundering and uncertain, the manufacturing industry continues to create goods that fulfill both personal and professional needs around the country.

A Wealth-Producing Industry

Economists separate industries into two categories: wealth producing and wealth consuming. Although many service-oriented businesses, such as education, insurance, or healthcare tend to consume wealth without providing the stimulation a floundering economy needs, goods-oriented businesses will encourage and create wealth production. Goods can be provided at a cheaper and quicker rate than many services, and a boom in the manufacturing industry opens up more jobs and creates more wealth than almost any other business.

Job Creation

Upon creation of a manufacturing company, a variety of jobs will become available in the community. These jobs can range from factory workers, to transportation positions, to business professionals. Manufacturing will also improve the number of jobs in other industries, as it creates products for retail outlets to market and sell.

Supporting Suppliers

A large manufacturing industry will consistently purchase bulk items such as wood, metals, cotton, and other materials needed to construct their goods. These large purchases spread the wealth from one company to several outside suppliers, stimulating the economy and encouraging growth in other businesses.

Higher Incomes

Manufacturing jobs tend to offer higher wages and better benefits than jobs in service industries. When a community has higher-paying jobs available, the residents will begin distributing more of their disposable income to struggling businesses such as restaurants, entertainment, or media. These ripple effects will travel through the economy and positively affect all local industries.

Facing this tough economy is hard on businesses and individuals alike, but patience and a bit of strategy can help you make it through. Hiring temporary staff may be a less expensive solution to keeping your business afloat while still providing the service that you are known for. If you would like more information on our staffing services, please visit us online at Labor Systems Job Center or call 877-836-7527.

Sources:

No Light at the End of the Tunnel (New America Foundation)

How Critical Are Manufacturing Jobs to the U.S. Economy (Physics Today)

The Economic Overview of Manufacturing (Working for America Institute)

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The Arizona Small Business Association

Everyone needs allies. And when you own or run a small business, you need both allies and resources. One way to obtain both is to look into the various professional organizations that exist. The Arizona Small Business Association is a collection of business owners and business people that has offices in Phoenix and Tucson. It affords business owners such benefits as: networking, political advocacy, and discounts on certain business related expenses like insurance.

Networking

Meeting other business people is a great way to drum up business. You never know which businesses could use your products or services, or if they know another company that could. The more people that you meet, the more opportunity you have to get your name out there and make potential connections. The ASBA holds two forms of networking events. One is similar to “speed dating” in which you have three minutes at a time with other members to introduce yourself and talk about your businesses. Another event is a more traditional “mixer” format held once monthly in both Phoenix and Tucson.

Discounts

An ASBA membership comes with financial incentives. Members get discounts on everything from office supplies at Staples to more cost effective email marketing campaigns from Constant Contact. If you feel that using the ASBA as a distribution channel for your products or services could be a good idea, they are even open to discussing adding your business to their membership discount forum.

Strength in Numbers

Regulation is a huge consideration for businesses. All businesses must adhere to various laws and compliance issues. Banding together with other businesses to appeal to legislators can be a great way to protect your business and inform lawmakers of what is really going on in the business world. The ASBA works towards helping members approach political advocacy correctly.

Labor Systems Job Center is a proud member of the Arizona Small Business Association. We can confirm first hand that this is a great organization for businesses to be a part of. If you would like more information about joining, it’s right here. If you would like more information on how temporary labor can help you and your business that information is here.

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