How to Properly Handle a Business Tax Audit

May 25, 2022 by First Federal Bank

Receiving a letter from the Internal Revenue Service informing you your business is being audited is enough to stop you cold. But if you have taken the proper steps to prepare and work with your auditor to the best of your abilities, you shouldn’t have anything to sweat about.

Topics: Small Business, Entrepreneurship, Taxes

Do You Understand Your Customer Base?

May 20, 2022 by First Federal Bank

Whether you’re a retailer or a service provider, every entrepreneur needs to have a solid grasp of what customers need and want. By knowing your target demographic’s problems, pain points, interests, and inclinations, you can better market your company and broaden your audience. Here are a few strategies to help you better understand your customer...

Topics: Small Business, Entrepreneurship

Should You Get a Startup Business Loan for Your Entrepreneurial Venture?

May 16, 2022 by First Federal Bank

You’ve had a dream of going into business for yourself, and now you have a product or service you could turn possibility into reality. When you’re looking to get a business venture off the ground, you need startup capital. That’s where business loans can come in handy.

Topics: Small Business Lending, Small Business, Entrepreneurship

How to Protect Your Small Business from a Data Breach

May 11, 2022 by First Federal Bank

Cybersecurity breaches threaten every company, from the smallest family businesses to the largest corporations. That’s why it’s essential to know how to protect your data from prying eyes. Here are some simple steps you can take to keep your company safe from cybercrime:

Topics: Technology, Small Business

Establishing a Trial Period for New Employees

May 04, 2022 by First Federal Bank

Hiring a new employee is a big commitment, especially when it comes to cost. This includes the time it takes to procure interview questions, create job listings, communicate with potential hires, conduct the interviews, and train a new associate — all on top of adding a salary to your business budget. A trial period for new employees is a great...

Topics: Small Business

Should Your Business Hire a Social Media Manager?

April 27, 2022 by First Federal Bank

For many small businesses, properly administered social media is no longer an optional extra — it’s a must-have for effective marketing. However, every business is different, so it’s important to weigh your specific needs as you decide whether it’s time to hire a social media manager.

Topics: Small Business

How to Reduce Recruitment and Hiring Costs (Without Losing Applicants)

April 20, 2022 by First Federal Bank

When you’re looking to hire employees, the process of recruitment can be quite daunting. According to career website Glassdoor, it costs $4,000 to recruit a new employee in the U.S., on average. Here are some effective ways to reduce hiring and recruitment costs while still getting high-quality applicants:

Topics: Small Business, Entrepreneurship

Ways to Build Camaraderie Among Remote Employees

March 28, 2022 by First Federal Bank

As more work teams move to a remote setting, it can be difficult at times to promote camaraderie between associates. Here are a few ways you can build teamwork, even when most of your employees are working from home:

Topics: Small Business, Entrepreneurship

Event Sponsorship and Marketing

March 23, 2022 by First Federal Bank

Marketing is a great way to increase awareness of your business and to ensure you are reaching the right customers. One method of marketing is event sponsorship, which offers a more unique way of advertising.

Topics: Small Business, Entrepreneurship

Does Your Business Need an App?

March 11, 2022 by First Federal Bank

As an entrepreneur, you know the importance of having an online presence — and an app may feel like the natural next step in your company’s growth. While having your own app comes with benefits, it’s also critical to understand the costs and drawbacks of the endeavor. Here are some factors to help you decide whether an app is a good fit for your...

Topics: Technology, Small Business

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