When you’re starting a new business, if you’d like to work with a business partner, you need to make sure that you choose the right person. The very success of your business may hinge on this relationship. Choosing the wrong person could mean that the business fails,...
Every business experiences financial difficulties from time to time – whether that comes in the form of sudden changes in the market or a lawsuit. Unfortunately, a lot of small business owners and entrepreneurs don’t make the necessary moves to protect their personal...
As you likely understand, business owners like you must make potentially critical decisions every day. Often, such decisions center on money matters like preserving profits, lowering costs and avoiding financial liability. Perhaps you operated successfully as a sole...
Creating a good business succession plan is going to be critical to the future of your company. It’s also important to do this to give your family stability and guidance. You want to leave the business to the next generation, but you have to be very deliberate about...
Forming a business can be exciting but overwhelming. You will have a lot of decisions to make that can impact the growth of the business. Thus, you need to be careful about every step you take. The following are four crucial decisions to make when forming a business:...
When aspiring business owners start tackling the process of legally forming a new company, they generally begin by choosing a formal structure. As the formation process differs for each formation structure, this approach makes sense. In order to better ensure that...
No matter what, operating a small business comes with a certain amount of risk. Accidents happen, and you may one day be faced with some kind of claim against your company. Creating your new business as a corporation or a limited liability company can help insulate...
Starting a business is a lot like starting a new romantic relationship. It often comes with intense excitement about the future and some degree of personal risk. If you let your emotions dictate how you behave, you might eventually find yourself in a situation where...
There are many benefits of forming a business partnership. A business partnership can help you combine efforts, resources and skills. However, sometimes partnerships can fail. This often happens when partners fail to address some issues when during the formation of...
There are several reasons why someone may decide to dissolve their business, whether due to health concerns, financial hardship, or contemplating life changes, such as retirement. Dissolving a business can be a complex process. Before dissolving your company, there...
