4 Reasons to Maintain a Local Backup of Your Cloud Storage Account

Did you get a cloud storage account to preserve important files, or make them readily accessible to share with others? Most people use cloud storage services for their personal files and for business. If you’re not using this service yet, you’re missing out.

Cloud storage is one of the most convenient tech services of all time. You get a secure space to store your files for a monthly or yearly fee, and you don’t have to maintain any hardware or software. However, you do need to make your own backups.

Even when your account includes automatic backup services, the right circumstances (like a major natural disaster) could compromise those backups.

Thankfully, some service providers make it easy to create your own backups. For instance, when you use Box for cloud storage, it’s a breeze to back up your files right from your computer’s finder window.

Whether you’ve been using cloud storage for a while, or you’re just getting started, there are several good reasons to maintain your own local backup of your account.

1. Natural disasters can wipe out professional backups

Nature doesn’t discriminate. If your cloud provider hosts their own backups – no matter how reliable your provider may be – nature won’t skip those backups during a storm, flood, fire, or tornado.

The chance of your cloud file backups getting wiped out by a natural disaster might be slim, but it does happen. If your backups get wiped out, and you don’t have your own backup, you’ll lose everything.

2. You don’t need to rely on the internet to access your files

Imagine the only backup of your files existing on a cloud server that you access through the internet. What would you do if the internet went down, or you had some kind of technical problem right when you needed to access your cloud-hosted files?

Having a physical backup makes it possible for you to grab any file you need at any time. You won’t be stuck waiting for the internet to come back on just to get someone’s phone number, retrieve a family photo, or review the terms of a business contract.

3. Your smartphone might get stolen

What does a stolen smartphone have to do with keeping a local backup of your files? Everything.

Most people access their cloud storage accounts through their smartphones. When you do this, your login credentials are usually stored on your phone so you don’t need to enter your password more than once. If your smartphone gets stolen, and the thief is able to access your apps, they might get to your files and delete them just to be mean.

You can’t predict how a phone thief will act. If they just want to resell your phone for some quick cash, they might not care about your apps and files. If they’re more organized, they might go through every piece of information they can find to get personal information to use for identity theft.

According to data published by Norton, 113 phones are stolen or lost every minute. Not having a local backup of your files could mean losing your files forever if your phone gets stolen. Considering how easy it is to create a local backup, it’s not worth the risk.

4. Hackers are a real threat

Reliable cloud storage companies operate on the shared responsibility model. In fact, there’s no other way to operate. Security is 50/50 – consumers are responsible for more than they think.

The most secure cloud storage account isn’t secure unless you do your research and make it secure with proper settings and security policies for accessing and sharing your data. If you don’t take the right precautions, one mistake can grant a hacker access to all of your files. If a hacker launches a ransomware attack against your cloud files, you’ll need a local backup to avoid paying a ransom that might not even be honored.

What makes a cloud account secure? Strict policies and caution. For instance, you never want to give a contractor long-term access to your files. They should be given a link that expires in a set period of time, and should only be linked to the files they need to access – not your top-level directory.

You can never have too many backups

If you’re going to create local backups, don’t automatically overwrite your files with each new backup. Create new backups in a separate folder each time.

Try to keep at least 5 backups spread across at least two external hard drives, just in case something goes wrong. There’s no such thing as too many backups.

Take Precautions While Traveling to Canada During COVID-19 Spread

Are you planning to travel to Canada for vacation, travel to relatives, or visit friends? Whatever the reason may be, you need to prepare ahead and take precautions amid the COVID-19 spread.

Traveling to other countries worldwide is a bit more tedious, but you’ll have smooth and safe travels with knowledge and preparation. Here are helpful tips to follow as you head to Canada for your next travel destination.

1. Learn the Travel Restrictions

Before you even make any travel plans and book your flight, be aware of whether or not you’re permitted to head to Canada.

Here are Canada’s travel restrictions:

  • US citizens and permanent residents can travel without non-discretionary purposes, provided they show proof they are fully vaccinated. Those who aren’t vaccinated must travel for a non-discretionary purpose.
  • Foreign nationals don’t have to travel for non-discretionary purposes if they show proof they’re fully vaccinated. Those who aren’t fully vaccinated must meet an exemption or travel for non-discretionary purposes.
  • International flights can land in Toronto, Calgary, Montreal, Vancouver, Quebec, Halifax, Winnipeg, Edmonton, and Ottawa.
  • Immediate family members of Canadian citizens, permanent residents, or those registered under the Indian Act don’t need to travel for non-optional purposes if they stay for over 15 days.
  • Unvaccinated foreign nationals who are extended family members of a Canadian citizen, permanent resident, or person registered under the Indian Act are exempt from travel restrictions. They can travel to Canada, provided they have the required documentation.
  • The standard travel document requirements for flying and entering Canada still apply.
  • You’ll need to have the ArriveCAN app or visit the website to submit your contact and travel information, your quarantine plan (if needed), and a COVIT-19 symptom self-assessment.
  • You will need to go through a health screening by border officers upon arrival in Canada.

If you have been exposed to someone with COVID-19 or show symptoms of it, do NOT travel. Quarantine yourself first and get yourself tested. Once you have gone through the 14-day quarantine and test negative, that is the time it’s safe to travel.

2. Get Tested and Quarantine

Understandably, no one wants to spend most of their vacation in quarantine. While the quarantine requirements have eased in Canada, you should isolate yourself at least 3-5 days after landing in your destination, monitoring for symptoms. And if possible, do have yourself tested before and after traveling to ensure you are not a carrier of the virus, even if you are vaccinated.

For those who are unvaccinated, you must self-quarantine after traveling for seven days if you have a negative test result or ten days without a test. You also need to get tested 1-3 days before you travel.

3. Follow Safety Protocol Wherever You Go

Regardless of where you go, you must follow Canada’s safety protocols.

This means wearing a mask at all times and practicing social distancing. Make sure that your nose and mouth are covered when wearing the front to prevent spreading any viruses. The only time you can remove your mask is when you’re eating or at home.

Furthermore, you must stay at least 6.5 feet apart from others when outside. Avoid entering places with large crowds or attending events with large gatherings. Even if Canada is slowly easing their restrictions, it’s best to stay safe for now and travel to areas with more open spaces.

4. What to Expect in Canada

When you’re traveling to Canada, you can head to amazing sights and enjoy safely! You can go to the Rockies for skiing and snowboarding, bear-watching in Ontario, or head to Vancouver, Quebec, Montreal, or Toronto for their food and culture.

Research on the city and province you plan to visit, as each province has varying mask mandates. Furthermore, some provinces have relaxed their rules in traveling, indoor dining, and social gatherings, while others remain strict. For instance, Canada’s smallest province, Prince Edward Island, has the most stringent COVID-19 prevention measures, and you will need to apply for a pass before you can visit.

Wrapping It Up

No matter where you plan on traveling to, you have to follow protocol and be aware of your surroundings. This will prevent catching and spreading the virus as you go to Canada. Happy and safe travels!

Effective Industry Use Cases for Two-Way Radios

In every industry, communication is the key to building a successful business. Effective communication between managers and operational employees without any gap or loss of information is critical.

A simpler route for intra-business communication

Dedicated work phones have problems with mobility and require elaborate connection systems. On the other end, mobile phones though portable, need delicate handling and have limited functioning in areas of no service and basements.

Most industrial set-ups such as manufacturing units, factory floors, etc. are loud, chaotic, and located on the outskirts. Retail business establishments though located in town centers are also crowded and tend to have underground floors. Two-way radios are, therefore, the perfect solution aided with the latest technology.

Two-way radio has business benefits

Two-way radios, like the ones from Ace Comms are built with all industries in mind with features that provide a simple, one-step solution, making communication easier and cheaper.

  • They provide reliable and consistent reception.
  • They are sturdy and durable.
  • They are a cost-effective investment with a long life.
  • A distraction-free channel of communication in the smartphone-addicted era.
  • They are safe from external attacks such as hacking and pose significantly less risk of information leak.

Thus, two-way radios can streamline the usually complex functions and processes of any workplace with their straightforward communication method. It can greatly enhance work productivity and make any workload much more efficient.

Two-way radio has effective industry use

Depending on the industry, implementing two-way radios bring a multitude of benefits such as the following:

Better coverage

Two-way radios have the potential of higher penetration in large work areas that are spread through acres of vertical height. Therefore, multi-story venues such as the hospitality industry, high-rise buildings, and hotels or spread-out resorts in the wilderness areas can coordinate much more effectively. Similarly, large factories, manufacturing units, construction sites can also benefit from their use.

Clarity

They are equipped for noisy, challenging environments apt for professionals in the security business operating in crowded venues related to event planning such as concerts, fairs, parades, sports. Providing security and surveillance services without the use of two-way radios is almost unthinkable.

Consistency

Industries that operate in remote locations such as mining, oil rigs, research explorations work in difficult environments require a reliable communication mode that is not dependent on external factors.

Dependable

Emergency operators such as police, fire, and rescue depend on wireless channels that do not fail even during natural calamities. Modern technology has also allowed for enhanced battery life and other upgrades such as ‘emergency interrupt’.

Efficient

Two-way radios have made immediate customer service and support possible in the retail industry. Throughout the workday, radios make response coordination a reality in all situations.

Are you using radios to serve customers and eliminate inefficiencies?

Almost all industries use two-way radios in some of the other segments of their everyday tasks. Ace Comms wireless communications technologies expertise has provided two-way radio solutions for many operations. Contact them to know how you can incorporate two-way radio communication in your industry.

Top 6 Benefits of Tailored IT Solutions

If you check industry news frequently, you are probably aware of how huge IT solutions have gotten over the past few years. It went from being a ‘nice thing to have’ kind of service to a vital component of every company’s operation. As a result, IT solutions underwent all sorts of changes. Now, you’ll find various agencies offering different types of IT solutions, such as database management, hardware support, cloud computing, network security, and more.

The type of managed IT solutions you must choose would largely depend on your company’s IT needs. However, if your company is a bit sophisticated, selecting an IT solution might prove difficult. If that’s the case, tailored IT solutions might be what you are looking for.

Tailored IT solutions refer to the implementation of a unique IT infrastructure only after taking into account the organization’s requirements, goals, ideals, and needs. With such a brief explanation, you might still have doubts as to whether the said service would fit your company. With that in mind, this article will discuss the six essential benefits of tailored IT solutions.

1. You are Not at the Mercy of Software Developers

Before anything else, you must understand that tailored IT solutions not only refer to managed IT services. It may also involve custom software with all kinds of functionalities. In the case of the latter, if you choose to have custom software created exclusively for your company, you no longer have to worry about waiting for updates on the apps your employees use.

Since you now have your own software, you are no longer at the mercy of software developers. Of course, you still have to maintain your custom software with the help of your IT partners.

2. It is Easier to Develop a Close Relationship with the IT Agency

When opting for tailored IT solutions, you’d most likely have to partner with an IT agency. During the custom IT solution implementation, you’ll need to collaborate with the agency very closely. Moreover, you have to disclose all sorts of info about your company. With this much interaction, developing or establishing a close relationship with the IT agency would undoubtedly become a lot easier.

3. Employees Will Find It Easier to Adapt to the IT Solution

Tailored IT solutions are designed to meet your company’s needs. It takes into account the company’s as well as your employees’ needs. Furthermore, there’s a good chance the IT agency used some of your employees’ ideas to contribute to the custom IT system’s development. For these reasons, your teams would be more confident when using the infrastructure, which can potentially boost productivity and efficiency.

4. You Gain Access to Better Customer Support

Customer support is a vital component of an IT solution. After all, you are bound to face some difficulties during the early stages of your new system, so a support staff is a must-have.

With that said, another reason why custom IT solutions are objectively better than most options available is that customer support provided from the said solutions is typically more personalized. When opting for tailored IT services, the members of the customer support staff are most likely also a part of the development team in charge of your company’s custom IT system.

5. Tailored IT Solutions are Comparatively Secure

Most IT solutions are available for everyone. These include solutions concerning cloud computing software management, troubleshooting, and more. Due to its general accessibility, hackers are most likely familiar with its structure. Moreover, since many companies utilize off-the-shelf IT solutions, they’re an appealing target to hackers. Meanwhile, if you are implementing a unique IT system for the company, you are the only one who can access it, reducing the security risks.

It is also worth noting that when partnering with a custom IT agency, they’re often responsible for any issues you’ll face due to the system’s inadequate security. For that reason, it is safe to assume that they’ll use the highest security technologies and standards when implementing your IT system.

6. Custom IT Systems are Scalable

Growth is what most people seek, and it is the main reason entrepreneurs and business people start the company in the first place. However, there are cases where growth can obstruct business operations, such as when too many customers are looking for services. IT systems are also affected by this growth. Alas, most IT systems aren’t capable of scaling with companies.

However, since a custom IT system is created according to the company’s needs, vision, and requirements, it should be able to evolve along with the company.

Conclusion

With this article, you should now have a basic idea of what you can potentially get by opting for tailored IT solutions. Unfortunately, since it caters exclusively to your company, tailored IT solutions are generally more expensive than other options. Hence, you may still have second thoughts regarding the matters. However, considering the long-term benefits of custom IT solutions, it is pretty understandable, and it may as well be worth the higher cost.

Tips To Help You When You Are Expanding Your Business

Expanding your small business is not only about making a decision, but you will also have to evaluate every detail about profit and loss, you have to deal with sales and marketing and most importantly, you have to build the whole plan outlining every financial and strategic risk and ways to counter it. Even though you would have to work very hard to expand the company, once your brand or company gets recognition, you will achieve popularity and success. However, you will have to focus on the customer base and marketing techniques to get your product trending and visible in the spotlight. Since the world has completely shifted to online working and social media campaigns, to make your product a success, you will have to target the local buyers of your company through different online marketing platforms. Besides marketing strategies, there are other ways by which you can expand your business and get benefits in the long term. So, here are some proven ways that can help you expand your business in the long run.

Hire the Right Team

One of the most important elements on which a company depends is its employees and staff. The qualification, experience, and working strategies of your workers are what determines how smoothly your company functions and gets success. They must be able to decode your orders and work accordingly because if they are fast learners, your work can get easier. Moreover, you must train them to stay united and dedicated to the goal you are working towards.

Develop a Reliable Sales Funnel

Setting up the right sales funnel can help you automate the marketing process and sales. It helps to drive traffic and customers to your page where some people buy your product and others read and think about it. Subsequently, you add those customers to your target customer list and send them emails of your special offers to persuade them to buy your product. This way, within a short period you will gain several new customers. To elaborate the process of the sales funnel, here are five steps that you need to ensure:

  • Create awareness in your audience about your product by implementing various marketing strategies.
  • Build interest in your customers by email campaigns, blog posts, lead magnets, chatbots, retargeting campaigns, and other deals for customers.
  • Evaluate your customer’s interest and add testimonials, pricing pages, case studies, discounted offers, live demos, product comparisons to help your customers evaluate your product or service quality.
  • Engage with customers who are about to buy your product using follow-up emails, product success stories, and other special offers.
  • Provide your customers with easy and efficient payment methods and platforms like Paypal, Stripe, Snipcart, or the card payment method.

Focus on Loyal Customers

It is crucial to prioritize your customer’s needs and provide them with special and discounted offers. Since your old customers are already acquainted with your old product quality or services, if you will maintain a friendly relation by using marketing strategies and discounted offers, they will maintain a stable buying experience with you. On the other hand, if you ignore your loyal customers and make special deals only for the new customers, there are chances that you may lose both. That’s why established business owners will always suggest focusing on your established revenue more than acquiring new audiences.

Limit the Internal and External Threats

A business is all about taking risks and evaluating your strategies critically. However, you can decrease the probability of these risks by limiting external and internal threats. For small businesses, it’s necessary to manage their resources to achieve success. So they can get investment from different sources like insurance providers, banks, or other investors. 

On the other hand, to limit the resources, businesses can also opt for local coworking services that are more economical. In Australia, there are several coworking locations around Sydney, Darlinghurst, Melbourn, and Brisbane that largely benefit the start-ups. There are many cases where businesses have expanded from these coworking spaces by using shared resources.

Know Your Competition

Before lining up for a competition, you should always study in advance the challenges you are going to face in the market. Once you know how to set your pricing, marketing strategies, and product quality, you can easily create a more improved product with better features that can be a competition for other brands.

Adapt to New Changes

Expansion of a business comes with adaptation and diversification. The more you will learn from the top businesses in the market, the more you can adapt according to it. For instance, most businesses are now virtually functional, that’s why people also prefer online shopping and services. Therefore, you should create websites with SEO optimization to enhance the productivity of your brand. On the other hand, using several ways to market your services and products can benefit you a lot faster than ever. For instance, you can use social media sites to create websites, blog posts, advertisements, business campaign emails, etc.

Benefit From Global Platforms

Your business can experience new levels if you take it to the global platform. These platforms include Amazon, Upwork, AirBnB, etc. Depending on your budget, the more expensive and high rating platform you will consider, the more your business will be in the spotlight. On the other hand, you can also benefit from FBA service to market your product efficiently and get higher traffic.

To expand your business in the long term, you will have to put in a lot of hard work, dedication, patience, faith, and discipline. Since success is not an overnight process, always remember that the higher the density of your success will be, the greater fall your business may experience in the future. If you take slow and steady steps to build your organization, your business will be more stable for a longer period. Moreover, to expand your business, you should take your decisions analytically and follow some proven tips explained by this article.

How to Start Bitcoin Mining for Under $100

Just in the past 2 years, we have seen a massive surge in Bitcoin price and the attention it grabbed globally. Bitcoin and other cryptocurrencies trading have become common, popular, and profitable. Other than buying and selling Bitcoin, the other more profitable approach is to mine Bitcoin. But the global trend of mining has made it quite competitive and its associated hardware has become very expensive. So, it seems difficult to make a profit from Bitcoin mining if your investment budget is low. In this blog, we will have a closer look at the possibility of earning profit by starting Bitcoin mining under $100 or less.

Bitcoin Mining Process Explained Easy

Before we dig deeper into the hardware and software needs to mine Bitcoin, let’s have a simple and quick look at the Bitcoin mining process.

Bitcoin mining is a process of verifying Bitcoin-related transactions by creating valid blocks and adding those transaction records to the BTC public ledger, termed as blockchain. The ones holding the computing power and hardware are called miners. Miners have to solve complex mathematical puzzles to validate the transaction and earn the reward. The reward is in the shape of new Bitcoins, which can be earned only if the miner solves the puzzle first. Therefore, miners need a GPU (graphics processing unit) or ASIC (application-specific integrated circuit) to solve the puzzle at super-fast speed and increase their chances of getting the reward.

Bitcoin Mining with $100 or Less

Now that you have a basic idea of what Bitcoin mining is, let’s discuss what you need to start mining and whether it is possible under $100 or less.

Purchase a Bitcoin Mining Rig

The profitability chances from Bitcoin mining are linked with the Bitcoin mining rig (mining hardware) and the power cost. Currently, the Bitcoin mining rigs are very expensive. So, with a budget of $100, the only option left for you is to search and bid for used Bitcoin mining hardware in eBay that is under $100. China’s government has recently made a crackdown on Bitcoin miners in the country, which has left thousands of mining rigs for sale online. So, there are chances that you might get lucky and find a reliable mining rig under the $100 price range.

But first, you should shortlist the ones that are under reasonable price and then explore their profitability ratio by searching about them in Google. Elements like hash rate, power consumption, efficiency, and similar other factors should be thoroughly explored. Besides that, you have to look for such mining hardware that does not ask for hefty shipping charges and comes with a power supply because you don’t want to spend extra money on these things.

Once you have mining hardware, internet, and computing environment, the rest of the requirements are easy to meet and costs negligible.

1. Get a Bitcoin Wallet

After setting up mining hardware, the next thing you have to do is get a Bitcoin wallet. A Bitcoin wallet is where you will receive your Bitcoins and manage your Bitcoin addresses. Every Bitcoin address comprises of two keys, i.e., the public key and the private key. The public key is similar to a bank account number that lets you receive Bitcoins in your wallet. On the other hand, the private key should remain secret, as it is meant to send off transactions. Losing the private key means losing Bitcoins placed in that address.

Bitcoin wallets are of different types, such as software-based online wallets, secure hardware and paper wallets, etc. As a beginner, it is recommended that you opt for a software wallet, such as Exodus

2. Join Mining Pool

Despite setting up the best mining hardware, it is very difficult to score Bitcoin with just one single machine. It is because you are going to be competing with large mining farms working all across the world, so your single machine is not going to benefit much. This is where mining pools come into action.

In a mining pool, multiple miners give their computing power to the group for a collaborative attempt to verify transactions. Bitcoin rewards earned this way are divided among the members based on the computing power they contributed. Although the income will be low, still it will be continuous. But if you join a mining pool, you have to pay a small fee to the pool operator, which is usually detected from the reward. You can search for the best pool on your own or look through the list provided in Bitcoin Wiki by clicking here.

3. Install Mining Software

The last thing you have to do before beginning your Bitcoin mining journey is to install mining software. A mining software connects you to the Bitcoin and blockchain network. The basic operation of mining software is to provide the work to the miner, deliver the completed work, and add the data to the blockchain. Besides that, it also provides other monitoring statistics, such as hash rate, temperature, mining speed, etc.

There are plenty of free mining software that you can pick from. The one you pick should be easy to use, run on all OS, capable to mine multiple cryptocurrencies, and possess similar other features.

Profitability chances with Bitcoin Mining under $100 Budget

If we had written this blog a year ago, then we could have confidently said that “yes you can make a profitable income from Bitcoin mining under $100 Budget.” But the situation is more complex now. The rapid emergence of large mining farms, expensive but faster mining tools, and complex equations, all have contributed towards making Bitcoin mining more difficult and less profitable via single machines.

If you manage to somehow set up a Bitcoin mining setup under $100, then the electricity cost is another difficulty. On average, US residents pay 0.07 ¢/kWh, which is a high electricity rate in the Bitcoin world. One possible way to turn your $100 Bitcoin mining investment into a profitable one is to look for free electricity. If you manage to purchase a used ASIC miner below $100 and get a free source of electricity, then you can be lucky enough to start earning bucks from mining. Even if you don’t make a profit out of your $100 investment, you will still be learning and experience a lot. This will open up your mind with Bitcoin mining and let you invest more and smartly with a quicker return on investment.

Alternatives to Bitcoin Mining

New technology and new Cryptcurrency has opened an opportunity with Staking instead of Mining.  Staking can earn you as much as 80% APY.  Be sure to check out our Bitcoin Staking Guide.

Different Types of Insurance Medical Practitioners May Need

With the rising cases of medical negligence lawsuits against a medical practitioner, medical malpractice insurance has been prevalent over the years to protect the livelihood and assets of such professionals. Overlooking this important aspect has cost heavily for many doctors so far. 

According to Washington Post, 2016 “The medical negligence payouts in 2014 in the New York alone stood at $690 million”

It has also been observed that there are other forms of insurance which a medical professional is required to cover under the law. But due to the lack of inadequate knowledge, most of this coverage is likely to be missed by them resulting in huge losses at the later stages.

Most of the doctors focus on medical liability coverage, which is the largest premium paid by them on account of medical malpractice insurance. However, they tend to ignore the other types of insurance which are equally crucial in protecting their livelihood and assets.

In fact, under several circumstances, these insurances are required by the law which most of the doctors are unaware of. 

In this article we are going to discuss different forms of medical insurances:

Medical Malpractice Insurance

It is one of the prevalent insurance sought by medical professionals. Medical malpractice insurance carriers are protected against the financial losses that arise due to the lawsuits filed by their patients claiming professional negligence leading to an injury/death of the patient. 

Hence the patient’s claim of negligence is covered under medical malpractice insurance for the doctors.  

Business Auto Insurance

Some medical practitioners facilitate their patients with home visits and require using their vehicle for the commutation. Hence the need for commercial or business auto insurance is imperative. 

Most auto insurance policies do not cover the damage that occurs due to business use. Thus business auto policy is designed to cover the vehicles used for business purposes.

The insurance primarily covers the property damage and medical expenses for bodily injury on account of such accidents. Depending on the coverage, the insurance company will replace or repair your vehicles due to theft, accidents, or any natural calamity.

Professional Liability Insurance

The unfortunate event of lawsuits made by your patients to claim negligence on your part is a re-occurrence when you are practicing as a medical professional privately. 

Due to the lack of a one-size-fits-all policy, this special insurance coverage helps in covering the legal defense cost that can even run up to hundreds and thousands of dollars.

Most of the private small physicians do not have enough resources to cover such claims, thus malpractice insurance for professional liability is a must. 

Practice Overhead Insurance

Individual liability insurance is relevant for the inability to practice medicine due to illness or injury. While this type of insurance is usually kept as a backup to recover the medical expenses on such an inability, the prime concern should be – Who will replace your absence in such an event?

However, when you are temporarily out of office, expenses like salaries, rent, taxes, and utility bills are still in place to handle. Practice Overhead insurance helps in recovering such overhead expenses in the event of loss of income due to injury. 

Worker Compensation Insurance

When you come up with a private clinic, you require employing dedicated employees to maintain it. If anyone gets seriously injured, how to continue with your practice? Most of the states in the United States make it a mandate to such business owners to obtain workers’ compensation insurance if they have more than the prescribed limit of employees. 

This type of insurance helps in paying off the loss on account of wages and medical expenses to the employees who get injured while discharging their duties. In the event of the death of the employee, the insurance companies compensate the employee’s family. 

This insurance is significant for most businesses to ensure the livelihood of employees in the event of accidents. 

Property Insurance

Like every business, opening a clinic requires a lot of time, effort, and investment for the right medical equipment, fixtures and furniture, and other medical supplies. But, in the event of a natural disaster, how will you ensure safety?

Property insurance is the best way to secure your property in the event of unwanted theft and fire. It exhaustively covers the physical building along with the medical equipment and other fixtures used for your practice. Especially in the event of leasing your space, property insurance is a must.

Business Interruption Insurance

Some places are likely to be affected by natural calamities and disasters at a higher rate than others. If you choose to practice in such areas, this insurance is of utmost importance for your business. In the event of a catastrophic event, the business operations will suffer.

A reliable business interruption insurance policy helps in running and getting back on your toes. 

Compared to property insurance, this type of insurance aims at covering the income stream from the business, which is adversely affected due to the disaster. 

The temporary closure of business and structural rebuilding to overcome the adversity of natural disasters are the reason for stagnation in business operations. Business Owner policy is a comprehensive insurance solution to cover the property insurance policy and business interruption insurance. 

Life Insurance

Although it is not directly related to your practice, life insurance is a significant form of insurance that extends financial protection to your family member in the event of accidental death. 

Your appointed beneficiaries receive financial protection in the event of your death under life insurance. Not just your family members, your business partner gets their peace of mind too. It is the best way to compensate for the loss of income to your family members in the event of accidental death. 

Summary

The right type of insurance is the best way to avoid major financial losses to any medical practitioner in case of catastrophic events. The day you begin your medical practice, you are certainly exposed to various liabilities. 

Having suitable insurance in place helps a doctor to protect their practice from the various kinds of potential risks. 

When Does the Payroll Tax Cut Start?

On Aug. 8, 2020—during the first spike of COVID-19 in the United States—President Donald Trump issued an executive order to institute a “tax holiday.” If you’re still wondering when it starts, I’m afraid you’ve missed the mark. The tax holiday started on Sept. 1, 2020, and ended on Dec. 31, 2020. Moreover, it wasn’t a true tax cut, but a tax deferment.

So let’s look at what the tax holiday entailed and how it affected businesses and employees.

The Executive Order

The Executive Order contained three sections that directly affected businesses and their employees. Here is what these sections entailed:

Section 1 & Section 2

These two tie into each other. Section 1 states the COVID-19 pandemic is “of sufficient severity and magnitude to warrant an emergency declaration,” and Trump directed the Secretary of the Treasury (then Steven Mnuchin) to “use his authority to defer certain payroll tax obligations.” In simple terms, it’s like an essay introduction: It states the issue and the way Trump intended to fix it.

Section 2 goes into more detail about Trump’s policy. In it, he directed Mnuchin to defer the “withholding, deposit, and payment” on wages between Sept. 1 and Dec. 31, 2020. In sub-section (a), the order states the deferral will apply to anyone who makes less than $4,000 before taxes per bi-weekly paycheck (or the equivalent, if they aren’t paid bi-weekly).

Finally, sub-section (b) states this deferment will not incur any penalties, interest or other additions to the taxes deferred. In other words, the tax deferment is almost like an interest-free loan.

Section 4

Section 4 is short and to the point. In it, Trump directed Mnuchin to “explore avenues” through which the deferment might become permanent. In other words, Trump asked Mnuchin to look into any methods through which the deferred taxes might be forgiven entirely.

In the end, however, these taxes were not forgiven. Everyone who received the tax deferment was required to pay it back through extra tax withholdings between Jan. 1 and April 31, 2021.

What It Meant for You

If you’re the owner of a private company or one of its employees, it probably never meant much at all. Most private entities opted out of the payroll tax holiday and decided to deduct taxes from paychecks as normal. It was never law, it was never mandatory and most private companies thought it was short-term relief with an impending reckoning.

Think about it: Trump gave the option to not pay taxes for four months, but you’d have to pay double taxes during the next four months to make up for it. At best, it would be a lot of work to accomplish nothing; at worst, it would harm employees by cutting their paychecks during the repayment period.

Companies Can Learn From the Payroll Tax Cut

Even though the payroll tax cut proved to be irrelevant to most businesses, it did provide some value. Most notably, it compelled businesses to think carefully about their processes and how they affect their bottom line.

How to Choose the Best Payment Processor for Your Business?

For most small businesses, selecting your payment process is one of the most critical decisions you can make.  Anyone who has experienced a day or two of downtime knows that network service will break your business if it is not dependable.  Dependability has a cost, and the monthly fees can add up to significant amounts of money.

A payment processor is a company that acts as a go-between allowing your customer to move money from their own account to your account.  Allowing your customer to pay using a credit or debit card requires a payment processor to mediate the transaction.

If we talk about the best payment processor for small and medium businesses, then we are familiar with numerous companies which are offering these services.

Helcim

Helcim is a payment company with high standards for ethics and transparency.  It offers many different types of banking services. They rank highly on Helcim review websites.  Their common products aim to provide quick and convenient services to their customers. 

Helcim was founded in 1993 by two entrepreneurs who had previously worked with the Swiss National Bank. The company has grown steadily since then due to Helcim’s innovative solutions for financing needs.

Today Helcim provides various products and services such as loans, deposits, investments, and credit card processing through their branches in North America and online on the Helcim website.

 Why People Prefer Helcim over Stripe?

Helcim vs. Stripe is a really worthy table talk among the people doing or promoting their small businesses. 

Considering the Helcim, so it is a better choice for merchants based in the US and Canada than Stripe. Let’s compare their differences here: 

 1-Helcim has an easier-to-use API and a lower monthly fee.

 2- Helcim allows you to run your credit card terminal at home without any additional fees

3- Helcim is cheaper and has a more flexible credit card processing plan for nonprofits

4- Helcim allows you to accept Visa, MasterCard, American Express, and Interac debit payment

5- Helcim charges no monthly fee on business accounts with $3000+/month of volume. They do not even charge per-transaction fees

6- Helcim has a higher payout and more payment options than the Stripe

7- Helcim allows you to choose the length of your contracts, while with Stripe, there is no option for this 

8- Helcim’s merchant account signup process takes less time. With Helcim, it takes only one business day to get approved and activated, and you can start accepting payments in your store immediately 

9- Helcim has a real person (like Matt Kaplan) to answer specific questions about their services, while with Stripe, there is no such option. You only get general information that does not apply to merchants like you 

10- Helcim has a higher approval rate (it takes less time for the application process), and there is no need to provide any documents besides ID, which means you can get your merchant account faster. With Stripe, on the other hand, it often takes several days to get approved 

11- Helcim accepts businesses with bad/no credit, while Stripe does not. With Helcim, you can have multiple bad business accounts connected under one Helcim account, and they all work together as a team if needed

12- Helcim gives merchants the ability to manage their statement preferences – this is a very convenient option, especially for Helcim merchants who have to send statements via email instead of snail mail

13- Helcim has a better customer service department by far. With Helcim, if you need help with anything specific, you can call Helcim, and a real person will answer your question. With Stripe, on the other hand, if you need to speak with someone via live chat or email, it takes several minutes until anyone responds

14- Helcim has better sales tools and credit card processing solutions for local businesses than Stripe does. With Helcim, you can use a wireless terminal or buy your own and connect to the Helcim network

15- Helcim’s credit card processing fees are cheaper than Stripe’s. Helcim charges $0.08 per transaction and 0% of the total sale, while with Stripe, it is $0.15 plus a percentage fee.

Summing up all the points, we can conclude that Helcim is the best choice rather than Stripe. We said this based on the pros and cons discussed above.

Other Options for Payment Processor

PayPal

PayPal Credit Card processing means that you can accept all major payment types from your customers right on the site. The checkout process is simple, customizable, and scalable for businesses of any size!

PayPal knows how important it is to offer their clients fast & secure online transactions without compromising their ability to get a great customer service experience – which is why each transaction through this platform comes complete with 24/7 support via phone or email.

As well as auto-reloading funds into an account so there are no delays during peak hours due to lack of cash flow like what often happens when using other platforms.

Paytm Business

Paytm, the fastest growing payment platform in India, and over 17 million merchants are already using it! It’s time for your business to get on board. With a variety of solutions, including eCommerce integration with magneto or eCommerce – Paytm will make accepting payments easier than ever before.

• Get familiarized with all their features like Online Bill Payments & Cheques.

• Send money instantly anywhere around the Indian subcontinent within few seconds by choosing a one-touch option among many other options available at their site. You can also sell goods& services through online marketplaces such as OLX.

Stripe Connects

Stripe offers solutions for web and mobile payments that are built to empower developers. With a set of unified APIs, Stripe enables businesses to accept online payment instantly on any device with iOS or Android apps available at launch in July 2013!

The company provides tools like credit card processing as well, so your customers don’t need another app installed before being able to purchase products from your site – just enter them through the checkout process, which automatically generates invoices based on their shipping address too ensuring no one gets left out when paying over email etc.

EBiz Charge

Century Business Solutions, a leader in integrated B2B Payments

Is a payment gateway capable of processing payments inside your CRM/ERP or online shopping carts such as QuickBooks? 

The EBiz Charge team is always working hard to stay up-to-date with new technologies and offer full support for all their clients’ needs. They can also provide you PCI compliant mobile solutions so that it will be easy!

Authorize.net

Authorize.net is a payment gateway that helps make it easy to accept electronic and credit card payments in person or online, giving you the freedom to do what your business needs. 

When you need it most, Authorize.net will take care of everything so you can focus on running things smoothly without worrying about whether there will be money left over at closing time because another customer didn’t have enough cash on hand!

BlueSnap

BlueSnap is a payment processing platform that streamlines businesses’ operations for B2B and B2C transactions. By integrating their service, you can accept payments from any angle in just one click! 

BlueSnap supports integrated credit card sales as well as invoice or manual orders through an easy-to-use virtual terminal which gives us complete control over your entire operation, so there’s no risk involved when accepting new customers online today.

The Blue Snap team designed this All in One Solution (AIS) with global retailers at heart – and they know how hard it was before all vendors were separate entities working against each other.

What is Product Liability Insurance? 4 Things You Need To Know

Large business manufacturers produce goods at a massive scale every day, and there are always products that will have defects that cause malfunctions and a decrease in quality. Because of this, production lines always include a quality testing stage in the whole process to ensure that all products are tested and Inspected for any type of defects. After a product passes quality control, it can now be packaged and shipped to outlet stores and distributors. Still, some products get damaged during transport, and these can still make it to the store shelves and the consumers. When consumers purchase a defective product while being unaware of its condition, it may cause serious harm to the user if an accident occurs due to the malfunction of the product. These situations usually lead to lawsuits being filed against the company, and the consumers may sue them for the damages caused by their products. Lawsuits regarding defective products and damages to customers usually lead to million-dollar lawsuits that can greatly affect the company’s sales and reputation, leading them towards bankruptcy. To avoid such situations, manufacturing companies can avail product liability insurance that can protect them from lawsuits and damages to their company’s name and sales. The next part of this article will cover the basic knowledge that one must know regarding product liability insurance.

Several phone manufacturers also avail of product liability insurance packages.

1. What is product liability insurance?

Product liability insurance is a type of insurance package that companies and manufacturers can avail to protect their companies from lawsuits and claims of personal injury or property damages from their customers. Companies take time to set up product liability insurance since this can help them cover the legal costs brought by lawsuits. The insurance package can also cover costs of medical damages and property damage. Insurance companies offer different insurance packages depending on their client’s business scale, which ranges from small business owners to large conglomerates.

2. How does product liability insurance work?

Whenever a malfunction occurs on a product purchased by a customer, the product liability insurance package of the company will help pay for the damages done by the malfunction of the product. An example of this occurrence can be observed on a Samsung Note 7 lawsuit that happened on a flight of Jet Airways.

In October 2017, a female passager was boarded on a flight to India on Jet Airways when suddenly, her phone burst in flames while stored in her handbag. The passenger observed smoke coming out of her handbag approximately 15 minutes after boarding the flight. A flight attendant immediately responded to the situation and tried to use a fire extinguisher on the device, but the fire extinguisher failed to operate. The attendant then submerged the device in a tray full of water to prevent any possibility of fire or explosion. Fortunately, the device stopped smoking, and nobody was harmed during the incident. In the aftermath, the female passenger was furious over the lack of preparation of the airline’s safety precautions and was planning on filing a complaint against the company as well as the phone’s manufacturer.

In this incident, the phone company was expected to pay for the damages caused by their product. This was not the first time that Samsung has encountered smartphone problems as they had to recall some of their products in the past year. The company did not have product liability insurance, and they also had to recall the note 7 series products in the previous year due to other claims of malfunction and exploding batteries, so they were expecting a loss of over $17 billion in total revenue.

Had they availed a product liability insurance for this product, they could have lessened their losses significantly. They could have avoided a product liability lawsuit that could affect their resources and brand reputation.

3. How much is product liability insurance needed?

To decide how much a product liability insurance package will cover, the scale of the business must be considered. A large-scale business will typically produce a thousand units of products in a single day, which means there is a larger possibility of occurrence of defective products. A larger yield will mean more defective products, so the insurance must cover the majority of the price of production to avoid major losses in case of a recall or a lawsuit. Smaller business owners will only need to avail a basic package for product liability insurance since their production rate is less than that of large-scale companies.

Insurance can help secure a business against liabilities.

4. What is the difference between general liability insurance and product liability insurance?

General liability insurance is a type of insurance purchased by businesses to protect their companies from all types of claims and lawsuits that may affect their sales and profits in any way. This type of insurance covers all types of services provided by a company. The difference between general liability and product liability is the range of the compensation that the insurance will provide. General liability insurance can cover all the services provided by a company, which includes consulting, estimates, and customer service. In contrast, product liability insurance only covers the products sold by the company to its customers.