When you are starting up and running a business, there seems to be an endless number of choices to make. For instance, should you buy or lease the equipment you need to run your business? This choice can have significant impacts on your business finances and flexibility, so it is important...
Do You Have a Business Succession Plan in Place?
We pour ourselves into our business. Our time, our money, and so much more goes into building up a successful enterprise and seeing it thrive throughout the years. For all that we put into our businesses, it is surprising that so many people continue to operate their businesses without a business...
What Is a Noncompete Agreement?
In setting up a business for long-term success, there are various agreements that you should consider putting in place. Some employers, for instance, use noncompete agreements to protect operational secrets, marketing strategies, and more. Noncompete agreements, however, do restrict an employee’s ability to seek other employment and, thus, due to the...
What to Include in an LLC Operating Agreement
Have you decided to structure your business as a Limited Liability Company (LLC)? It is a popular choice because it is simple to set up and has minimal compliance requirements. You can also rest easy knowing that your personal assets are protected by the LLC structure. To set up your LLC,...
Setting Your Start-Up On a Path to Success
Planning to launch a start-up? It can be one of the most exciting endeavors to take on. When the entrepreneurial spirit takes over, it can make you want to barrel forward at a rapid pace. Setting your start-up on a path to continued success and growth, however, will require a significant...
What Are the Benefits and Disadvantages of Owning a Franchise?
Have you considered owning a franchise? Many entrepreneurs do as it can be a great opportunity to buy into an existing business that already has a solid foundation and structure in place. It is important to know, however, that success in owning and operating a franchise is by no means guaranteed...
What to Consider Before Buying a Business
Buying an existing business can be a great investment and entrepreneurial adventure. As opposed to starting a business from the ground up, buying an established business can come with trained employees and an established base of customers. It can also come with existing cash flow which means you can start earning...
Should I Have a Buy-Sell Agreement in Place?
There may seem like an endless number of legal documents to consider, have drafted, and executed for your business. Yes, there can be a significant amount of paperwork, but there is also a great deal in business that you will want to protect, including the business itself. Planning for contingencies, for instance,...
What is an S Corporation Versus a C Corporation?
Named for the respective parts of the Internal Revenue Code that they are taxed under, C corporations and S corporations have similarities and both can be solid choices for business incorporation. While they may share some important similarities, they also have important differences. Prior to selecting a C corporation versus an...
Selecting the Right Business Structure
When you start a business, it can be an exciting time, but also one filled with important decisions to make that will impact your business for the indefinite future. One such decision will be how to structure your business. There are a number of significant factors you should take into account...