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Retirement Services & Financial Advisors​ - Serving Columbus & Beyond

Why Your Start-Up Needs a 401(k) Plan

Submitted by Life, Inc. Retirement Services on September 15th, 2019

401k for Small Business Owners Attracting employees Business Owner Retirement Plan Start-Up 401k Plan

Most business startups are focused on selling their products or services.  That's understandable.  If you're not selling, you're not generating revenue, and without reliable cash flow, your company struggles to survive.   But not too long after launching a business, you're looking at hiring your first employees.  You want to make sure you get the right employees from the beginning.  Employee turnover is a costly proposition, especially for a fledgling business. It is estimated that it costs 2.5 times a person's salary to replace a lost employee. That's as much as $75,000 for an employee making $30,000 per year. 

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