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...
A business plan is critical for the success of a company in today’s competitive market. A written business strategy is as vital for a small firm as it is for a multinational corporation. A strong business plan will assist you to narrow down issues and...
It is pretty understandable why somebody would want to buy a business. Even buying a franchise could be a good option that yields similar benefits. See, it feels like you just skipped over the most challenging steps and instantly got to the sweet spot. Maybe you want...
With the COVID-19 pandemic dominating the news and creating havoc in many sectors of the economy, companies are going to need to be on their “A” game to survive and thrive. Here are five essential tasks to help you do this. 1. Bring financial statements up...
How to take the bite out of the audit sting It is no surprise that states audit their small business community as a productive way to increase revenue for their state coffers. Should you receive the dreaded notice of one of these audits, here are some ideas that can...
The time has come to take that important step. You’re ready to sell. Or are you? See, the problem with this decision is, once the transaction has been made, there is no going back. There’s a lot to think about. Selling always sounds tantalizing. You know...
Succession planning can be one of the most difficult issues faced by a family-owned business. As a business owner nearing retirement, how do you transfer leadership (and perhaps ownership) and keep the business running smoothly? Unfortunately, many businesses...
Of the thousands of new businesses created every day in the United States, many are franchise outlets. If you’ve ever thought about buying a franchise, here are some facts worth considering. A franchise gives the buyer the right to use a trademarked name in...
One of the most perplexing concepts can be understanding cash flow. This is because cash flow is not profits, nor does operating losses necessarily mean poor cash flow. However, cash flow is important. It can be very frustrating when payroll is due and you have no...
Deciding whether to grow your business can be one of the most important steps for an entrepreneur. Do you expand and risk compromising your business? Or do you perfect your product or service instead? Expanding a business means higher investments for rent, employees,...
