Take a quiz to see how much you know about HR, and business regualtions, laws etc.

2. True/False 50% of new businesses fail within the first year

3. True/False 50% of new businesses fail within the first year TRUE

4. True/False You need a local, state, and federal license to start your business?

5. True/False You need a local, state, and federal license to start your business? TRUE

6. True/False You have to have a lawyer to start a business?

7. True/False You have to have a lawyer to start a business? FALSE You don’t need one but it comes highly recommended.

8. True/False INA stands for International Non-profit Act?

9. True/False INA stands for International Non-profit Act? FALSE INA stands for Immigration Nationality Act

10. True/False An example of an I-9 acceptable document is a passport?

11. True/False An example of an I-9 acceptable document is a passport? TRUE

12. True/False A micro loan is a small loan available to small starting businesses?

13. True/False A micro loan is a small loan available to small starting businesses? TRUE

14. True/False An employer does not have to file an I-9 if the person has a passport ?

15. True/False An employer does not have to file an I-9 if the person has a passport FALSE In Arizona you must do this. Laws in your state may be different

16. Facts Employers with more than 10 employees are required to maintain a record of injuries on the OSHA 200 form, which must be available for inspection for a period of five years.

17. Facts 3 out of 4 businesses handed down to family members fail within one year. Facts

18. Facts The 4 P’s of any marketing plan include product, price, place, and promotion. Facts

19. Facts Types of insurance for small businesses: Property Insurance, Liability Insurance, Product Liability Insurance , Automobile Insurance, Workers’ Compensation, Disability Insurance, Business Interruption Insurance, Health Insurance, and Life Insurance. Facts

20. Facts The following are four ways to protect your business as an entrepreneur: Facts • Patents • Copyrights • Trademarks • Trade Secrets

21. Facts Always verify a potential applicant’s employment history after the interview, to check his/her credibility. Facts

22. Facts The following are the four main types of business taxes: Facts • income • self employment • employment • excise

23. Facts In 2006 72 million dollars in back wages were collected by the US Department of Labor. Facts

24. Facts In 2006, there were 8,650 harassment and intimidation cases filed against small businesses with the EEOC. Facts

25. Facts COBRA stands for Consolidated Omnibus Budget Reconciliation Act . Facts

26. Facts The cost to set up a one employee HR department is approximately $65,000. Facts

27. Multiple Choice How many small businesses are there in the United States? a. 100 million b. 1 billion c. 35 million d. 23 million

28. Multiple Choice How many small businesses are there in the United States? a. 100 million b. 1 billion c. 35 million d. 23 million

29. Multiple Choice Which one of these is NOT a type of business? a. sole proprietorship b. limited partnership c. limited liability corporation d. sole liability corporation e. corporation

30. Multiple Choice How many fatalities were there in the construction business in 2007? (per 100 employees) a. 1, 914 b. 10,003 c. 808 d. 1,212 e. 101

31. Multiple Choice Which one of these is NOT a type of business? a. sole proprietorship b. limited partnership c. limited liability corporation d. sole liability corporation e. corporation

32. Multiple Choice How many days does an employer have to file I-9 paper work upon hiring a new employee? a. 3 days b. 24 hours c. 1 week d. 7 days e. no time constraint

33. Multiple Choice How many days does an employer have to file I-9 paper work upon hiring a new employee? a. 3 days b. 24 hours c. 1 week d. 7 days e. no time constraint

34. Multiple Choice How many fatalities were there in the construction business in 2007? (per 100 employees) a. 1, 914 b. 10,003 c. 808 d. 1,212 e. 101

35. Multiple Choice What was the average salary of a construction manger in 2007? a. $35,000 b. $85,790 c. $ 48,500 d. $120,500

36. Multiple Choice What was the average salary of a construction manger in 2007? a. $35,000 b. $85,790 c. $ 48,500 d. $120,500

37. Multiple Choice What’s the big deal if my competitor has an EMOD .85 and mine is a 1.15? Facts

38. Multiple Choice What’s the big deal if my competitor has an EMOD .85 and mine is a 1.15? (your competitor will spend 30% less on work comp, making him low bid) Facts

39. Multiple Choice Some municipalities will not allow you to bid if your e-mod is greater than 1. Facts

40. Multiple Choice Is it a big deal if I am one day late on my employer tax payment? Facts

41. Multiple Choice Is it a big deal if I am one day late on my employer tax payment? (approximately a $8,000 fine, and you are all over the radar) Facts

42. Multiple Choice Sometimes I pay my employees cash, what’s the big deal? Facts

43. Multiple Choice Sometimes I pay my employees cash, what’s the big deal? (no coverage on work compensation; one unhappy employee could start an audit with the Department of Labor that will rock your world) Facts

44. Multiple Choice I will pay my guys as independent contractors to avoid employer tax and insurance. Facts

45. Multiple Choice I will pay my guys as independent contractors to avoid employer tax and insurance. Don’t do this …if they have to be at work they are employees Facts

46. Multiple Choice I’ll pay my guys piece work or salary to avoid overtime. Facts

47. Multiple Choice I’ll pay my guys piece work or salary to avoid overtime. Don’t do this…you still have to track time and will owe overtime if it applies Facts

48. Multiple Choice I use E-Verify as my employee prescreening. Facts

49. Multiple Choice I use E-Verify as my employee prescreening. Don’t do this… it is discriminatory and you will get in big trouble Facts

50. Multiple Choice When I am not sure how long an employee will be with me, I don’t bother reporting them as a new hire Facts

51. Multiple Choice When I am not sure how long an employee will be with me, I don’t bother reporting them as a new hire … .all new hires must be reported within 30 days Facts

52. Multiple Choice I’m a small business and I don’t need an employee handbook. Facts

53. Multiple Choice I’m a small business and I don’t need an employee handbook. Don’t do this… establishing policies and procedures in every decision you make. The median jury award last year was $276,711. Facts

54. Multiple Choice It’s cheaper to code my guys as supervisors for work comp. Facts

55. Multiple Choice It’s cheaper to code my guys as supervisors for work comp. Don’t do this…misclassification in work comp audits allows a three year look back at all policies. Facts

56. Multiple Choice In 2005 the median award for employment cases was $276,711 up from $150,000 in 1999. Facts

57. Multiple Choice $95,000 was the average settlement for suits pre trial . Facts

58. Multiple Choice 8,650 harassment and intimidation cases against small companies filed with the EEOC in 2006. Facts

59. Multiple Choice $172,000,000 was collected by the Labor Department in 2006. Facts

60. Multiple Choice Errors in calculating overtime create a three year look back in audits by the labor department. Facts

61. Multiple Choice In on case a company owed $6,000 in overtime and was fined $1,100 for late payments. Facts

62. Multiple Choice After your first offense it is likely you will be audited again. Facts

63. Costly HR mistakes that small business should avoid Hiring the wrong person 30% of all business failures are linked to bad hiring. Quick hiring and quick firing can lead to a lot of bad situations. Remember your employees are the heartbeat of organizations.

64. Costly HR mistakes that small business should avoid Ignoring government regulations Small businesses with an average of 20 employees or less pay more per employee keeping up with government regulations than businesses with 500+. It is important to keep up with these ever changing regulations rather than pay thousands in fines.

65. Costly HR mistakes that small business should avoid Not having an employee handbook Small businesses with an average of 20 employees or less pay more per employee keeping up with government regulations than businesses with 500+ It is important to keep up with these ever changing regulations rather than pay thousands in fines.

66. Costly HR mistakes that small business should avoid Overlooking the importance of training When a company invests in employee training, continuing education, and advancing their skills a company’s bottom line is bound to increase. Overlooking this could actually be a detriment to a company and their potential for success.

67. Costly HR mistakes that small business should avoid Failing to reward employees In order to retain employees and cut down on costs, increase your bottom line etc. it is important to reward your employees with more than just a verbal compliment. This will boost the overall morale and in return increase productivity.

68. Costly HR mistakes that small business should avoid PEO’s can prevent mistakes Today more and more companies are turning to PEO’s to avoid these mistakes. Since professional employer organizations specialize in stuff like this they can help you with hassles that you don’t want to deal with. Save money and time!