Running A Business

2016: Watch Out For These Business Changes

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The year 2016 brings forth a fresh set of commandments for small businesses.  It is essential to look out for these new changes, which when not implemented can prove to go against the business.

A run down on the 2016 issues that need to be handled without delay which when done can result in huge turn-over for small businesses-

  1. Extra working hour rules: An increase in the overtime pay is the highlight this year. As soon as the details are out an urgent action is expected from the employers.
  2. Staff Salary: Around the globe, new laws are being formulated for a raise in the minimum salary of employees, stressing on equal wages and paid sick leaves. These laws have already taken an effect since the 1st of January 2016 in New York City based fast food employees. Equal pay for men and women is being implemented and 5 paid sick leaves are to be allotted by owners having a minimum of 10 staff members.
  3. Confidentiality Issues: Laws of Security and Privacy has gone up a notch this year. The data-security measures that have been functioning in various businesses up till now will require a boost.

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