For the love of your business
For the love of your business
New business owners must weigh the pros and cons of the choices they make when it comes to choosing the right business entity for a new enterprise; Entrepreneur recently posted 7 myths that could get in the way of selecting the best business entity: An LLC saves taxes. The Limited Liability Company (LLC) is designed […]
Read MoreDisciplining and/or firing an employee is one of the most dreaded tasks for CEOs and small business owners. Sometimes the trauma of termination can be just as bad for the boss as it is for the employee. But in this litigious society, bosses need to take extra care when disciplining or firing an employee to […]
Read MoreAccording to the Wall Street Journal, litigation over noncompete agreements has risen 61%in the past decade – a number that may be low considering most cases are settled out of court and not reported. Long considered the standard for senior management employment contracts, noncompetes are becoming increasingly common at all levels of employment as a […]
Read MoreOne of the most common business disputes involves a breach of contract, where lawsuits are filed because one party believes another party has failed to deliver on the terms of a written –or sometimes oral – contract. If your business is ever involved in a breach of contract suit, you need to be aware of […]
Read MoreIt’s been said that into every life a little rain must fall, and for small business owners, that shower (or storm) can come in the form of a customer or client’s bankruptcy. Here are some tips on what you need to do to improve your odds of getting paid: Stop contact. Bankruptcy law prohibits creditors […]
Read MoreA new Small Business Administration rule implementing part of the Small Business Jobs Act of 2010 provides more protection for subcontractors in their dealings with primary contractors, according to a Washington Post report. The rule, which goes into effect in mid-August, requires a prime contractor to notify the contracting agency if it decides not to […]
Read MoreBeing the owner of a family business can complicate your personal estate planning, since no doubt much of the wealth you want to pass on to your heirs is tied up in the business. Being able to do so in a tax-advantaged way – and in a way that won’t cause a family feud – […]
Read MoreAccording to the Kauffman Index of Entrepreneurial Activity, approximately 300 of every 100,000 U.S. adults started a business in 2012. The Index found that over 514,000 new firms were started every month in 2012 – but how many will succeed? Of course, in business –as in life – there are no guarantees. According to the […]
Read MoreThe Obama administration unexpectedly announced in late June that it was delaying the implementation of new health law penalties for at least a year, leading many small business owners to wonder what the reprieve will mean for their companies. Firms with more than 50 full-time employees would have been penalized $2,000 per uninsured employee starting […]
Read MoreA recent post in the New York Times’ “You’re The Boss” column reflected on lessons learned from difficult company successions that were made that way because there was no plan in place to follow. Susan Parker owns Bari Jay, a bridesmaid dress company that she and her sister inherited from their father. Parker had never […]
Read MoreAs the U.S. population ages, so does its workforce. According to the U.S. Dept. of Labor, one-third of the American workforce will be over the age of 55 in just three years. As a small business owner, chances are you have plans to retire some day. If you are not planning to sell the business […]
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