Small business funding and compensation practices top the list of pressing employment issues for 2023.
2023 is well underway, but employers are still anticipating forthcoming challenges. Many business owners have moved on from inflation-related worries —the growth of which began slowing last summer—and are now focused on upcoming adjustments to the rules and regulations that govern their operations.
As is often the case, the turning of the calendar is expected to bring a steady stream of new guidance, which will touch on matters from worker classification and funding models to retirement plans, anti-discrimination laws, and everything in between. While changes of the magnitude and breadth of those expected in 2023 can be intimidating, understanding what’s coming is just half the battle.
With this in mind, here are new or updated laws and regulations that will impact the way business is done in the coming months and beyond.
With financial pressure at top-of-mind for many, understanding how and where to access small business funds in the new year will be critical. Although it appears there will be no new federal programs in 2023, businesses can still seek out assistance through existing national, state, and local initiatives.
1. The Employee Retention Tax Credit (ERTC). This COVID-era policy is still available on a retroactive basis. While businesses that already claimed the ERTC won’t have access to more funds, those that have yet to file amended...
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