How to Prepare Your Business for the Next Year
The beginning of the year is a time to reflect and refocus on what you want to achieve over the next twelve months. Optimally, entrepreneurs spent part of December on small business housekeeping tasks that helped them finish the year strong, and at the beginning of January, they prioritize setting themselves up to look ahead […]
What Small Businesses Should Know About Email Marketing
When it comes to getting the most marketing bang for the buck, email marketing is at the top of the list. A well-crafted email message will not only keep your audience engaged, but it will also generate valuable feedback that will enable you to fine-tune future campaigns. Effective email marketing requires that you cut through […]
Advertising Laws for Small Businesses
Having a great product or service is not always enough. If customers are not aware of your business, it is difficult to build brand awareness, create demand, grow a customer base, and increase sales. Word-of-mouth marketing can be highly effective, but most small businesses also dedicate a portion of their budget to advertising. Whether you […]
What US Businesses Should Know About the GDPR
The European Union’s General Data Protection Regulation (GDPR) is a privacy law that protects the personal information of individuals (or as the law refers to them, “data subjects”) in the European Union (EU). Although the GDPR is a European regulation, the law is extraterritorial in scope and applies to any business that handles the personal […]
Starting a Short-Term Rental Business
Short-term rentals are nothing new. For decades, homeowners have been renting out their properties in touristy areas to earn income. But with the advent of platforms such as Airbnb and VRBO, there has been an explosion in short-term rentals, including many in areas that were not previously considered travel destinations. The growing demand for short-term […]
Legal Considerations for Creating a Cooperative
A cooperative (co-op) is a business entity owned by—and operated for—the benefit of its members. There are several types of co-ops, and they are found in a variety of industries, from agriculture and the arts to finance and electricity generation. While their operations resemble traditional businesses and they seek to make a profit, co-ops are […]
Purpose and Profits: A New Emerging Business Structure
It is a long-held capitalist axiom that businesses exist solely to make a profit. Typical for-profit corporations are legally required to act in the best interests of their shareholders, which means maximizing profits—often at the expense of other considerations. In fact, failure to focus strictly on profits can expose corporate leadership to shareholder litigation. But […]
Legal Considerations for Buying an Existing Business
Some entrepreneurs love the challenge of starting a new business and creating everything from scratch. However, that may not be the best approach for everyone. Buying an existing business can eliminate the initial legwork of establishing a customer base, training employees, and securing start-up funding, but it is not without its own challenges. As a […]
How to Resolve Deadlocks in Your LLC
Membership in a limited liability company (LLC) may come with voting rights. Member voting rights are addressed in the LLC operating agreement, which typically provides that LLC members must vote on several issues that are material to the continuance of the business. A unanimous or majority vote may be required depending upon the nature of […]
Personal Guarantees: What They Are and When They Are Required?
Your new business needs a capital infusion to get off the ground. The only problem is that a new business is not established enough to have generated a business credit report. It may also be lacking assets that can be used as loan collateral. Without a business credit report or business assets, lenders cannot judge […]