Category Archives: Legal

Know More About PR Crisis

A PR crisis can be challenging to navigate, but these six steps can help your brand recover. A PR crisis occurs when negative events or reviews thre ditoraten to impact your brand reputation slot online. Bad PR is likely at some point, but how your company responds can determine how detrimental the impact becomes.

These six tips can help you navigate a PR crisis, limit the damage to your brand and emerge the other side unscathed. This article is for small business owners interested in strengthening and protecting their brand reputation. Public relations is a concept every small business has to deal with at some point. From online reviews to general customer satisfaction, if you run a business that has to deal with the public, you’re in the public relations business.

Part of public relations is effectively dealing with negative news and events related to your business. Accidents happen. Problems pop up. Your business can never be fully safe from potential negative events that could impact your relationship with your customers. What’s important, however, is understanding how to handle these problems when they occur, so you can mitigate damage and ensure your business weathers the PR storm.

 

Why is it Difficult for Small Businesses to Get Loans From Banks?

Capital is difficult for small businesses to access for several reasons. It’s not that banks are against lending to small businesses – they want to – but traditional financial institutions have an outdated Situs Nonton Movie Sub Indo, labor-intensive lending process and regulations that are unfavorable to local shops and small organizations. The difficulty of accessing capital is exacerbated because many small businesses applying for loans are new, and banks typically want to see at least a five-year profile of a healthy business (for instance, five years of tax data) before extending an offer.

Alternative financing is any method through which business owners can acquire capital without the assistance of traditional banks. Generally, if a funding option is based entirely online, it is an alternative financing method. By this definition, options such as crowdfunding, online loan providers and cryptocurrency qualify as alternative financing.

Why might small businesses seek alternative financing?
There are several reasons why small business owners such as yourself might turn to business loan alternatives. Here are three of the most common:

Lower credit requirements. Traditional banks are almost certain to decline loans to borrowers with credit scores below a certain threshold that, though different for each loan provider, is often between 600 and 650. Easier qualification. Not all small business owners meet the additional requirements to apply and be approved for traditional loans. In these cases, business loan alternatives are helpful. Faster approval. Traditional bank loans can take weeks to be approved, whereas some business loan alternatives give you access to funding in as little as one week.

Difference Between Cash & Accrual Accounting Method

Small business owners are often confused about the difference between judi online cash and accrual basis accounting. This might sound like something that an accountant should show but this information is useful for business owner as well. In this article, we’ve explained how each of these accounting methods work. Find out more which accounting method is best for your business.                 

Introduction to Cash method

Cash method is an accounting system that identifies income (or revenue) only when payment is accepted and expenses only when payment is done. The cash method is straight forward in sense that the business’s books are maintained on the basis of the real flow of cash in and out of the business. In this case, income is logged as soon as it is received, and expenses are reported when they are truly paid.

The cash method is implemented by several sole proprietors and trades with no inventory. The cash basis is generally practised by small companies and users because it is comparatively easier and less costly. Cash basis accounting does not follow with the rules of generally accepted accounting principles (GAAP) and it often leaves a time gap between recording the source of an action (purchase or sale) and its result (disbursement or receipt of money).

If in certain situation, a client pays you in advance, cash accounting method permits you to account for those funds on your income statement when they are accepted instead of waiting till you truly earn them. Cash method also offers a lot of inventive freedom to handle what you own in the bank to suit your own style of accounting and context at any time. This makes the accounting process easier for tracking internally.

Introduction to Accrual method

The accrual method of accounting is the theory of recording revenues when received and expenses as gained. Accrual method of accounting is the normal approach to recording and maintaining transactions for businesses.  This method logs revenues on the income statement when they are received even if the client will pay after period of 30 days. In the situation when the revenues are earned the business will credit a revenue account and will also debit the asset account Accounts Receivable. In this case, when the customer pays after 30 days passed when the revenues were earned, the company will debit cash and will also credit Accounts Receivable.

The accrual method of accounting is supported under both generally accepted accounting principles (known as GAAP) as well as international financial reporting standards (known as IFRS). These accounting frameworks offer sufficient guidance on how to account for revenue and expense transactions in the devoid of the cash receipts or expenses that would activate the recordation of a business under the cash base of accounting.

In terms of accounting, the accrual method and the related adjusting entries will outcome in a complete and precise reporting of a company’s properties, equity, liabilities, and remunerations during all accounting process.

Jeff Bezos announces first beneficiaries of Earth Fund

The world’s richest man, Jeff Bezos, the Founder, CEO and President of Amazon, has announced the first situs slot online beneficiaries of the Bezos Earth Fund.

The announcement of US$791 million, as part of Bezos‘ US$10 billion Bezos Earth Fund treasure chest, makes the 56-year-old the world’s biggest backer of climate activism. In one day, Bezos single-handedly boosted the total amount of climate-related philanthropic funding available in the US by around 11%, Quartz reported.

Bezos Earth Fund’s money is equivalent to more than 7% of his net worth. It is also 10 times as much as philanthropic foundations gave globally in 2018 to efforts to slow climate change.

“I’ve spent the past several months learning from a group of incredibly smart people who’ve made it their life’s work to fight climate change and its impact on communities around the world. I’m inspired by what they’re doing, and excited to help them scale. Today, I’m pleased to announce the first Bezos Earth Fund recipients —16 organisations working on innovative, ambitious and needle-moving solutions. This US$791 million in donations is just the beginning of my US$10 billion commitment to fund scientists, activists, NGOs and others. We can all protect Earth’s future by taking bold action now,” Bezos said on his Instagram page.

The organisations represented in the investments all have solid reputations for climate activism. The largest individual grants (US$100 million) go to top Washington DC environmental groups including the World Resources Institute, Environmental Defence Fund and Natural Resources Defence Council.

“This generous gift from the Bezos Earth Fund enables Natural Resources Defence Council to move even faster on achieving the climate solutions we need at the federal, state and local levels to protect people’s health, strengthen nature’s ability to help fight climate change and grow the clean energy sector and all the jobs that come with it,” Natural Resources Defence Council administrator Gina McCarthy said in a statement.

The full list of recipients of Bezos’ largesse is: The Climate and Clean Energy Equity Fund, ClimateWorks Foundation, Dream Corps Green For All, Eden Reforestation Projects, Energy Foundation, Environmental Defence Fund, The Hive Fund for Climate and Gender Justice, Natural Resources Defence Council, The Nature Conservancy, NDN Collective, Rocky Mountain Institute, Salk Institute for Biological Studies, The Solutions Project, Union of Concerned Scientists, World Resources Institute, and World Wildlife Fund.

The Bezos Earth Fund is Amazon’s answer to its own record on carbon emissions. Amazon has pledged to reach carbon neutrality by 2040. Its most recent sustainability report showed that its carbon footprint, for now, is rising quickly —up 15% in 2019 compared to 2018, when the company disclosed its emissions for the first time.

What Small Businesses Need to Know About IRS Form 1099

A 1099 form is a tax form that Agen togel businesses use to report certain types of non-employee compensation – such as payment for professional services, royalties, interest, and awards or prizes – paid to other businesses and to individuals who aren’t full-time employees of your company.

Businesses submit Form 1099 both to payees and directly to the IRS. However, the form only reports business-related compensation for intangibles like interest or services to other companies and people who are not your company’s W-2 employees. It is not used to report payments for purchases like inventory or office supplies.

Types of 1099
When most people think of 1099s, what comes to mind is Form 1099-MISC – the form used to report miscellaneous payments for freelance and other contracted services provided to companies that don’t employ the workers full time. But there are many types of 1099, each reporting different types of payment.

Here are five of the most common types of 1099:

1099-MISC: Businesses file this form for each individual they have paid during the year for miscellaneous services.
1099-INT: Financial institutions file this form to report the interest they paid account holders.
1099-DIV: Financial institutions file this form to report dividend payments and investment distributions.
1099-LTC: Insurance companies and government agencies file this form to report long-term care and accelerated death benefits paid out on life insurance policies.
1099-SA: Health insurance administrators file this form to report distributions from health savings accounts, Archer medical savings accounts or Medicare Advantage medical savings accounts.
The types of 1099s you complete (or receive, in the case of a payee) depend on the type of organization you have and the type of compensation you issue or receive throughout the year.

Social Network Entre Promoted as a LinkedIn Competitor

Freelancers and entrepreneurs searching for an alternative to LinkedIn should take a look at a new social network called Entre. It’s been designed to supply everything needed on idn poker online to kickstart your enterprise in one spot.

Small Business Trends contacted Michael Marra, the CEO/Founder at Entre, to find out how this product folds into The Future of Work.

“Entre is a social network for entrepreneurs, investors, freelancers, and anyone that is self-employed,” he writes. “Our mobile and web app makes it easier for entrepreneurs to network, start and grow their businesses online.”
Entre Social Network for Entrepreneurs
Like a lot of good products, it was born from personal experience. Marra explains.

“I started Entre from my own struggles finding like-minded people to connect with when I quit my job as a Civil Engineer. There wasn’t a place and easy way to get started as an entrepreneur.”

There’s a free mobile and web app. Marra stresses how Entre brings everything entrepreneurs need together under one roof. That’s a bonus, he says, that was hard to find.

“Entrepreneurship is completely fragmented,” he says. “Entrepreneurs are using 8-12 different platforms to network, start, and grow their businesses.”

This alternative to LinkedIn seeks to streamline the process for startups.

Get Feedback
“If they’re just starting out, they can ask questions, get feedback on an idea and find their co-founders,” Marra says. “Entrepreneurs can also get the support they need from a community of like-minded people.”

Temporary policy change lets visitors with job offers apply for work permits without leaving Canada

Visitors with a job offer can now apply for a work permit and, upon approval, receive such permit without needing to leave the country, care of a temporary public policy change.

Effective immediately, individuals who have a valid status as a visitor, who were in Canada on Aug. 24 and who stayed in the country since, who have a valid job offer and who comply with all the other admissibility requirements can apply for an employer-specific work permit, according to a news release from Immigration, Refugees and Citizenship Canada.

Applications must be submitted by Mar. 31, 2021 and should include a Labour Market Impact Assessment or an LMIA-exempt offer of employment. All visitors who comply with the aforementioned criteria may apply, including super visa holders, business visitors, and persons who entered Canada through a Global Skills Strategy work permit exemption.

Eligible applicants who meet all the criteria and who held a valid work permit within the past 12 months may also start working for a new employer prior to the full approval of their work permit applications by following the required steps.

The temporary policy change aims to benefit both visitors and employers. The government seeks to address the situation in which, following air travel restrictions, visitors could not leave the country. Some foreign workers also needed to change their status to visitor due to the expiry of their work permit and the lack of a new job offer to apply for a new work permit. The change is expected to help these individuals maintain their valid legal status.

“This exemption from the normal temporary work permit requirements is aimed at removing barriers to create a more agile workforce that leverages visitors with the skills and experience to accelerate our economic recovery,” said Minister of Immigration, Refugees and Citizenship Marco E.L. Mendicino.

Employers, notably those providing important goods and services to Canadians and who are experiencing labour and skills shortages amid the pandemic, may potentially also benefit from this change.

Before, those applying as temporary residents to Canada typically had to apply for their work permits before arriving in the country. Visitors to Canada who received approvals for their work permits were also required to leave the country and then return before they could receive their work permits.

Algorithmic policing risks intensifying systemic racism, harm privacy and Charter rights: report

A new report on algorithmic policing technologies is calling for a moratorium on their use until the Government carries out a comprehensive examination of their human rights implications and necessary legal reforms.

The Citizen Lab at the University of Toronto’s Munk School and the International Human Rights Program at the University of Toronto’s Faculty of Law released the report, “To Surveil and Predict: A Human Rights Analysis of Algorithmic Policing in Canada,” on Tuesday. The report states that two police services – Vancouver and Saskatoon – have confirmed they are currently using or developing predictive algorithmic technologies, and other police forces have acquired technologies that provide that capability.

The report warns that these technologies risk reinforcing systemic bias against Black and Indigenous people and threaten the privacy and Charter rights of everyone. The Canadian legal system is currently without sufficient safeguards to ensure algorithmic policing is applied constitutionally and with the proper regulatory, judicial and legislative oversight, states the report.

“The top line finding is that there are algorithmic policing technologies being used and under development and consideration in Canada,” says Cynthia Khoo, a research fellow at the Citizen Lab and a technology and human rights lawyer.

“There’s enough evidence to show that there’s a tremendous risk of human rights violations if we’re not careful about the implementation of these technologies, and in deciding whether you even use them at all.”

Algorithmic policing technology are a variety of different tools which draw inferences from mass-data-processing to predict potential unlawful activity or analyse data through automated surveillance. The technology complements traditional investigative methods and allows police to more effectively allocate resources. Facial recognition, automated license plate readers and social media surveillance algorithms are forms of this technology. In general, its use is more widespread in the U.S. and the UK than in Canada, said the report.

The report warns that because of the use of historical police data, historically marginalized groups may find themselves fed through a “negative feedback loop.” Past systemic bias will be multiplied because the algorithm will read the historic bias as reason to label them a heightened risk.

“There are critical questions to be answered regarding whether algorithmic surveillance technologies should be used at all given known problems regarding inaccuracy, ineffectiveness, and biases in the technologies,” says Kate Robertson report co-author, Citizen Lab research fellow and criminal defence lawyer at Markson Law in Toronto.

Roundup of law firm hires, promotions and departures: Sept. 2 update

Welcome to this week’s roundup of movements among major law firms, in which we sum up significant hires, promotions, departures and other announcements.

bakerlaw

The Toronto-based firm has appointed Kimberly Srivastava as its new managing partner. Srivastava is a litigator who has participated in cases with issues involving human rights, education accommodation, disability accommodation and sexual harassment. She has acted for clients before the Human Rights Tribunal, the Divisional Court and the Social Benefits Tribunal.
Borden Ladner Gervais LLP

Daniel J. Michaluk has joined BLG as a partner in its Toronto office and as a member of its corporate commercial group. Michaluk has experience in the fields of privacy, cybersecurity and freedom of information.

“Our clients will also benefit greatly from his education and public sector expertise, as well as his nearly 20 years’ experience,” said Frank Callaghan, national group head of the firm’s corporate and capital markets group.

Fogler, Rubinoff LLP

Tim Duncan is a partner in the insolvency and restructuring group of the Toronto-based firm. Duncan is a litigator who has advised debtors and creditors under operational and financial distress and who has experience in the areas of commercial re-organizations, bankruptcies, receiverships and restructurings proceedings under the CBCA, CCAA and BIA.

More healthcare deals to come under Investment Act scrutiny in wake of Covid-19: Stikeman lawyer

The federal government’s intention to scrutinize foreign investments in the Canadian healthcare industry in a post-pandemic world underscores the importance of assessing any potential national security concerns early on in the deal making process, says Michael Laskey, a partner in Stikeman Elliott’s Competition & Foreign Investment Group.

“We’re going to see [the government] take a more careful look at these kinds of situations, situations where critical health production could be moving outside the country,” Laskey says. While he doesn’t think that this will necessarily mean more blocked transactions, it will likely mean “longer reviews, more questions being asked and ultimately more commitments” from potential acquirers when it comes to things like maintaining jobs in Canada, capital expenditure in Canada, where production will be based, and access to the products or services for Canadians.

The Investment Review Division of Innovation, Science and Economic Development Canada said in a memo released in April that while each investment will continue to be examined on its own merits, it will scrutinize foreign direct investments of any value, controlling or non-controlling, in Canadian businesses that are related to public health or involved in the supply of critical goods and services to Canadians or to the government. As well, the memo says the Innovation Minister could also requesting additional information or extensions of timelines for review as authorized by the Investment Canada Act, in order to ensure that the government can fully assess these investments.

Even non-control transactions that typically are not subject to a filing requirement, or where the parties involved may not consider national security to be a material factor, could be examined.

In its memo, the IRD specifically raised concerns about Canadian businesses seeing valuations decline because of the pandemic and worries that these declines could lead to “opportunistic investment behaviour.” The Minister may request additional information or extensions of timelines for review as authorized by the ICA, to ensure that the government can fully assess these investments.

Despite this new scrutiny, the federal government is expected to continue to strongly support foreign direct investment, Laskey says, but concerns of national security regarding the country’s healthcare sector will take more priority. He said that the government, and Canadians, are sensitive to the need for Canada to have the healthcare capacity to deal with situations such as the Covid-19 pandemic. He points to the shortages of Personal Protective Equipment in the early days of the pandemic in Canada, and statements from governments like the U.S. saying they want to ensure that their own populations have access to vaccines and other coronavirus-related healthcare products and treatments which could hurt Canadians.

Laskey adds that in his experience, there is “always a compromise to be reached,” and that the appropriate balance of national security concerns and net benefits to Canada can, and likely will, be achieved. However, investment by State Owned Enterprises, or investors seen to being tied to foreign governments can expect greater scrutiny. Sensitivity around SOE investment in Canada has regularly been an issue, whether it comes to technology, resources, and now healthcare.

“Foreign investors will have to be respectful of the process,” Laskey says, and will have to build into the planning and preparation, but ultimately we’ll see successful outcomes. “I don’t see a wave of blocked deals, or a wave of deals where the requirements are so burdensome that they are uneconomical.”