What Is a Statement of Requirements?

Category: Business

To operate a business responsibly you must be prepared to meet any and all requirements, whether they are defined by the law, a business contact or your own business procedure manual. You may also have to prepare or request a formal statement of requirements, SOR, at some point when conducting business. A statement of requirements has a very important meaning in business to business, B2B, transactions.

Is Workers' Comp Mandatory?

Category: Business

Workers' compensation insurance helps cover financial losses for job-related injuries and illnesses. Employers buy coverage for their workers to pay for medical benefits and lost income; in return, workers covered by the insurance cannot sue employers over the injuries. Many states make workers' comp mandatory, but even in those states, some businesses are exempt.

How to Obtain a Business License in Kentucky

Category: Business

Most people dream of owning their own business and being their own boss. No matter the business you are planning on opening, the state of Kentucky regulates all small businesses and requires them to have certain documentation in order to operate within the law. Having this information completed will make filing for a Kentucky business license a breeze.

Product Line Vs Product Mix

Category: Business

In a company's marketing efforts, both the product lines and the mix that it uses are important in the long term. While product mix and product lines are similar, they are not the same thing, and each can have a drastic impact on the success of a company. A product mix is potentially comprised of several product lines.