AP Story featuring Rob Basso published in The Washington Post

Time and Attendance

Unpleasant surprises: Buying a company can bring challenges
By Joyce M. Rosenberg | AP

NEW YORK — When Matt Barber and Joel Doub bought a fishing rod manufacturer two years ago, the plan was for previous owner Tom Morgan to stay with the business for five years to mentor them. But six months after the deal closed, Morgan died unexpectedly.

“It forced us to sink or swim and accelerated our learning curve,” says Barber, co-owner of Tom Morgan Rodsmiths in Bozeman, Montana. “My approach was, OK, here’s a setback, let’s put our heads down, stay positive and persevere.”

Small business owners can face unexpected challenges after buying a company, whether they’re impossible-to-foresee events such as Barber and Doub experienced or problems that weren’t apparent or that prospective owners didn’t investigate. Among them: defiant staffers, outdated technology and shaky finances. In each case, an owner must regroup and figure out how to overcome the obstacles.

Read entire article from The Washington Post

Minimum Wage Increase Brings Maximum Difficulty for Small Biz Owners

By Rob Basso

Every eligible American worker is, by law, entitled to fair pay. The challenge is what we as a nation deem to be fair is constantly up for debate and generally arguments ensue. Political parties, unions, employee rights organization and business owners have been wrangling over the merits of higher minimum wage for low skill jobs for as long as organized labor and wage laws have existed.

No one should ever diminish the plight of hard working men and women who fill lower paid jobs. There are countless reasons why individuals find themselves in minimum wage. These include lack of education, a recent loss from a current and higher paying position and lack of training or skills or even lack of better opportunity are just a few. For others minimum wage is simply a starting wage.

Rarely do I hear an outcry from our elected officials when it comes to the plight of the small business owners that keeps this country flush with jobs to fill. Business owners risk their own capital and expend tremendous effort and energy with only the hope that their will and determination, along with a solid business plan, will provide them with not just a job for themselves, but a long-term sustainable asset. The seemingly innocuous $1 per hour minimum wage increase to Long Island employers adds significant cost to the running of their enterprise and lowers profit as they cannot continually add cost to the consumer to pay for the increase.

Let’s take a fictional company called Bobby’s Bobbleheads, LLC. Bobby has 10 employees that each work 40 hours a week and all now received the additional $1 per hour increase that took effect 12/31/2018. With estimated employer taxes that are required to be paid solely by the employer in addition to the $1 increase, the total cost to the employer is $449.40 a week or nearly $23,388.80 per year. Bobby could always use inferior material for his bobbleheads, but then heads would certainly roll. Customers would stop buying or buy fewer products and this would force Bobby to lay off employees or even worse close his doors.

For small business owners to continue to take risks there must be a commensurate reward. In the scenario above, the business owner most likely will have to take a personal haircut of their remuneration. Many Long Islanders believe that business owners are big earners; this is simply not the case. They made a choice to be in the most control possible of their hopes and dreams. They choose to pursue the American dream.

However, the continuing pressure on small business to perform and provide jobs for the nation is now jeopardy. Rapid and unchecked government mandated minimum wage increases and other burdens create maximum difficulty on those who drive the regional and national economy. Now as we enter 2019, it is the ideal time to create an environment that will allow small business to thrive, grow and create good paying jobs, well above minimum wage.

Rob Basso, CEO and Founder, Associated Human Capital Management, Plainview, NY

Office sharing startup aims to transform vacant space

For landlords that have some un-leased spaces, Graham Beck says he may have a solution.

Called DropDesk, the concept converts under-utilized commercial real estate into shared offices. While it creates flexible work environments for freelancers and other entrepreneurs, DropDesk also provides landlords with a solution to derive revenue from formerly vacant space.

Beck is no stranger to the shared-office sector. In 2015, he co-founded Long Beach-based Bridgeworks, which provides work space inside a renovated commercial building for startups and other small business owners who can’t afford or don’t want to commit to leasing a permanent office.

With DropDesk, Beck is taking that idea on the road to other building owners. He already has co-working locations in Plainview, Manhattan and Hoboken, N.J. and is currently seeking several more, with a goal of establishing at least 30 locations by the end of the year.

Click here to read the full article on LIBN.com.

NYS Paid Family Leave updates for 2019


Extension of the leave period and an increase in employee contributions will affect payroll deductions and business planning.

A heads-up for employers: The new year has brought some key changes to the state’s law on an important employee benefit.

The New York Paid Family Leave Act provides for partially paid, job-protected leave for eligible employees under certain circumstances, and in 2019 the leave period has changed from eight to 10 weeks.

Another key change is an increase in employee contributions, so employers should make sure payroll deductions have been updated and have a contingency plan to cover for employees taking a leave.

Click here to read the full article on Newsday.com.

Basso: Compromise needed as small business tries to climb Trump’s wall

By Rob Basso

A strong immigration policy is an absolute necessity to keep America safe and to preserve our core values. A wall, a fence, drones, lasers from space; nothing will keep people from their desire to be part of something special we have in this nation.

The promise of America is irresistible and also something to be protected. While fortune at times favors the bold, I am in favor of discourse, debate and compromise in this matter. The new Congress and the President must give this issue their full attention now. Each day that they don’t take action, small business owners and the economy as a whole suffers.

Click here to read the full article on LIBN.com

 

Associated HCM CEO, Rob Basso, featured in LIBN Who’s Who

Long Island is comprised of companies that provide services to other companies. Regardless of what service they offer, they keep their clients on top of their game so they can compete in today’s business environment.

LIBN featured Rob Basso, along with some of Long Island’s other business services leaders in their latest edition of “Who’s Who.” Click here to learn about our CEO!  

Rob Basso on Profit Express: Pursuing Your Passion

PART 1  |  PART 2

Pursuing Your Passion

You have no doubt heard that Pursuing Your Passion is the way to go when starting a business. Maybe it is – maybe it isn’t.

Let’s face it starting a business requires a series of gut wrenching decisions to get it right. What happens if Pursuing Your Passion doesn’t pay? My guest, Founder and CEO of Associated HCM, Rob Basso pursued the right business model. Find out how he is now running his 2nd successful startup after just having sold his 1st which he created 20 years ago.

Does Pursuing Your Passion Pay the Bills?

Rob Basso didn’t necessarily see the payroll industry as a sexy industry or a passion he was pursuing. He did see payroll as a great business model that offers a critical service that can help so many other small businesses grow. As a goal driven, motivated entrepreneur, Rob pursued his dream of owning a successful business and created Advantage Payroll.

When I asked Rob how do you know which is the right company to start he said, “Investigate industries that interest you and that make money!” It’s not always about pursuing passion – especially if it doesn’t pay.

Time to Sell

After having built a successful company over the last 20 years, the time to sell was right. This past April Rob sold Advantage Payroll to the $3 billion dollar giant! It turns out his passion was for his people. When he sold, it ended up being a very emotional time for him as he was saying goodbye to some of the people he worked with since day one.

Motivation is Key

Rob is motivated to capitalize on his payroll experience and reach the growth he did with Advantage in half the time! I asked Rob what he felt was more important – motivation or confidence. Rob said, “If I had to choose one I would say motivation is more important. It is what gets you up in the morning. It gets you out of bed and puts a smile on your face to close the deal.”

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