Can I Provide Services Instead of Capital to a New LLC?
Small business owners put their blood, sweat, and tears into ensuring the success of their company, which, though difficult to measure, are no less valuable than capital contributions. At the same time, if you are investing your time and energy into a limited liability company (LLC), you should establish a method of valuation for your […]
How to Talk to Your Family About Business Succession
Benjamin Franklin famously quipped, “If you fail to plan, you are planning to fail.” From the very beginning, you had a plan for your business to succeed. You set goals and developed methods to achieve those goals. Your business has stood the test of time because you anticipated problems and solved them. But if your […]
What Is a Business Succession Plan?
If you own a small business, developing your succession plan is a critical element of business planning. Many business owners fail to appreciate the complexities and time involved in successfully transitioning a business. Entangled in the day-to-day management of their companies, they neglect this essential element of business planning to their detriment. Transitions in business […]
What Is a Business Succession Plan?
If you own a small business, developing your succession plan is a critical element of business planning. Many business owners fail to appreciate the complexities and time involved in successfully transitioning a business. Entangled in the day-to-day management of their companies, they neglect this essential element of business planning to their detriment. Transitions in business […]
Benefits of Having Your Business Donate to Charity
Giving money to charity might seem counterintuitive to those running a for-profit company. However, it is important to keep in mind that charitable giving can not only make a big difference to the recipients of your generosity, but it can also provide a net gain to your business. In addition to the potential tax advantages […]
Five Considerations Before You Use a Payment Demand Letter
As a business owner, it is almost guaranteed that you will encounter some variation of the following scenario: You engaged a client and completed fantastic work. The products the client desired were delivered on time with practically no issues. To request the money the client agreed to pay you, you send an invoice or a […]
How Do I Obtain a Business Loan?
How Do I Obtain a Business Loan? Small businesses are the backbone of the US economy, accounting for nearly half of the country’s economic activity, creating two-thirds of new jobs, and driving innovation—and business loans are the backbone of small business growth. Lenders provided over $644 billion in small business loans in 2019, according to […]
Mixed Response from Businesses After SCOTUS Ruling on Vaccine Mandates
Mixed Response from Businesses After SCOTUS Ruling on Vaccine Mandates On Thursday, January 13, 2022, the Supreme Court’s ruling blocked President Joe Biden’s vaccine-or-testing mandate for large employers. Meanwhile, the Covid-19 omicron variant caused various business owners to question if this was truly a wise, timely decision after all. _____ “Ed Enoch, partner at the […]
What Is a Promissory Note and When Should I Use One?
What Is a Promissory Note and When Should I Use One? You have probably heard the term promissory note, but do you understand what a promissory note is and when one can and should be used? A promissory note is simply a written promise to repay someone who has loaned you money. More specifically, it […]
Financing a Business: Evaluating Your Options
Financing a Business: Evaluating Your Options Financing is the lifeblood of a business. During good times, business financing can help entrepreneurs purchase assets, expand products and services, add a new location, and hire more staff. During more difficult times, business owners may require financing just to continue their current operations. A business may also be […]