Most people don’t venture into the idea of opening their own business with plans of closing, selling, or liquidating it. But sometimes, it is wise to develop an exit strategy for your small business beforehand. It can only benefit you to prepare for every future...
Starting a business has always been very easy, and today’s business climate is making it even easier. But it’s a fact that most small businesses don’t survive a full year of working. This is due to a lot of factors such as competition and the local market; however,...
Running a business requires a lot of skill and planning. So, it should come as no surprise that a solid business plan is the foundation of your money-making efforts. However, is it enough to craft a masterful business plan and never bother with it again? The reality...
Nothing defines success more than reaching a point where you can expand your business. Unfortunately, it is not always clear when your company has reached the point where expansion is warranted. Opening a new shop in a new location will always carry risks, and no...
Due Diligence: What does it mean to the Seller? As a seller, it’s important to be prepared for the due diligence process that will take place once an offer has been made on your business. Due diligence is a crucial step in any business sale, and can often...
Business owners today face significant challenges when it comes to selling their businesses. The process of selling a business is complex and stressful. No one wants to get a bad deal when selling a company they’ve worked so hard to develop. With that comes the...
The Short-Term Squeeze You start your firm with a small amount of cash and an abundance of great notions and ambition. The sales activity has been enough to produce a net profit. You underestimated the quantity of inventory you’d need by about half. Accounts...
It’s vital to have a tax and business plan in place for the success of any company, especially one that is family-owned. Here are some critical concerns that family business owners should consider. 1. Do you have a plan? Without a strategy, your company has no...
Figuring out whether or not to sell your family business isn’t an easy thing to do. There’s no way anyone will disprove that. However, there comes a time when the option of selling your family business seems like the only reasonable thing to do. In other...
There are a few different options for who could own the building the business occupies. The most common option is for the business to own the building, but there are other options as well. The business could rent or lease the building from another party, or it could...
