Once your business has opened its doors, the pace and demands as the owner increase rapidly.
When your company opens, you need partners who will help with key business functions that, while necessary, may be time-consuming and unfamiliar.
As seen in the recent post, Entrepreneurial Dilemma: Do I Have Enough Money to Start My Own Business?, many business owners are laser-focused on securing the funds necessary to launch. Once the business is operational, those same business owners are going to need to shift their focus on core business needs such as attracting customers, sales and marketing, training employees, creating and delivering products and services, and building a business network.
That is why your new business needs to think beyond the opening day to the support services that will help your business grow. These behind-the-scenes functions are critical for your employees and customers.
Here is a look at how Benetrends can support your new business in six core areas.
1. Retirement Plan Services
Every Benetrends Rainmaker Plan® is a qualified retirement plan, and once you’ve received your funding, our ongoing and primary role is to help you manage your retirement plan. Not only do we help design the right plan for you and your employees, but we maintain regulatory compliance with DOL and IRS regulations, provide financial reporting, and communicate about the plan to your employees.
Our customized retirement plan solution will meet your business needs and can help you evolve your plan offerings as your business changes. Your plan design may include one or more of the following:
- Traditional 401(k) plans
- Roth 401(k) plans
- Profit-sharing plans
- Defined benefit plans
- Safe Harbor Option
- Company Match
Benetrends will assist with all of the administrative components of your retirement plan, guiding you through the decision-making process, thereby giving you the freedom to focus on other areas of your growing business.
2. Credit Card Processing
Nearly every business today relies on credit and debit cards to offer customers an easy payment option. Managing credit card processing allows you to offer your customers more buying power and flexibility.
Benetrends has a partnership with T|SYS|® that provides credit card processing services, allowing you to accept all major cards, including American Express, Discover, MasterCard, and Visa. Benetrends clients benefit from specially negotiated low processing rates, simple cost management via a single monthly fee, and easy invoice reconciliation and financial reports.
And, these processing services keep your customers’ payment information secure and PCI-compliant.
3. Business Insurance
Another important area for business is insurance. As a Benetrends client, you can find great rates on all types of business insurance, including:
- Individual health insurance
- Commercial insurance
- Business owner insurance
- Workers’ compensation
- Property and liability coverage
4. Section 105 Health Reimbursement Arrangement
A Health Reimbursement Arrangement (HRA) is an employer-funded account that helps employees pay for qualified medical expenses not covered by their health plans. Benetrends has partnered with Total Administrative Services Corp (TASC) and their BizPlan. BizPlan enables qualified small business owners to deduct 100% (of federal, state and self-employment taxes) for family meedical expenses. This benefit plan is an ideal way to maximize the benefits of being a small business owner.
5. Legal Services
It’s best to protect your business by obtaining legal services before they are needed. As a vendor partner of Benetrends, LegalShield offers protetction for you and your business.
For over 35 years, Benetrends has helped entrepreneurs meet their small business funding and business support needs. To learn more about our business services, contact us today.