David Deeds

In the News: David Deeds on New Entrepreneurs Expanding Their Staffs

Schulze School of Entrepreneurship Professor David Deeds commented for Next Avenue on the challenges that new entrepreneurs often face as they hire new employees and expand their staff.

From the article: "This is always a kind of a delicate balance for entrepreneurs at the early stages: Making sure you meet your responsibilities to your clients and people you may bring in," said David Deeds, Schulze Professor of Entrepreneurship at the University of St. Thomas Opus College of Business in Minneapolis, Minnesota, and editor-in-chief of the (EIX) Entrepreneurship and Innovation Exchange, which is a funder of Next Avenue.

Deeds confirmed that the challenge is real for new entrepreneurs as they allow time to manage additional staff as well as their own responsibilities at their startup business. Another key element, noted Deeds, when it comes to bringing on staff, is whether they are classified as W-2 employees or 1099 contractors, because the taxes withheld differ and so does the employer's control over their work practices.