If you’re a business owner, you may have heard of the three-generation rule. It is certainly not an official rule, but more of an observation about how things tend to play out. The rule states that most family businesses will fail by the third generation. This means...
Better Solutions For Your Family, Future And Finances.
Business law
Choosing the right business partner for your company
You established your company a few years ago and it has continued to go from strength to strength. In fact, you hadn’t realized that you would achieve so much success within such a short timeframe. You’re taking your next steps to expand the company further, and at...
What should you include in your partnership agreement?
A partnership can be an excellent business venture if everything is laid out correctly. Knowing exactly what the partnership will entail is one of the most important considerations. As you’re discussing the partnership, consider each aspect of the agreement so you...
Why do businesses face nonpayment issues?
Nonpayment issues can be devastating for a business. In many cases, the services have already been rendered or products have been shipped. You expected to be paid for those invoices, but the payments never came in. Why does this happen? It’s not simply that the other...
2 reasons an LLC is a popular business form choice
There are numerous different business structures that entrepreneurs can use when starting a new company. From sole proprietorships and partnerships to nonprofit organizations, there are structures that work for different business concepts and personal situations....
Can an employer legally rescind a written job offer?
One of the most unpleasant tasks that business owners face is having to terminate someone – whether because of poor performance or as part of a larger layoff. Almost as unpleasant is having to rescind a job offer that’s been made and accepted. That can happen for a...
Strategies for getting customers to pay on time (or early)
One of small business owners’ least enjoyable jobs is having to pester customers to pay them. Some require multiple follow-ups before they eventually pay. However, late payments can cause serious issues with your cash flow. Getting customers to pay what they owe you...
3 reasons to change the legal structure of your business
When you decide to start a business, choosing its formal structure will be one of the most important decisions you make. Based on the possible risks and the way you want to do business, you might create a partnership, an LLC or even a nonprofit corporation....
Consider these factors when enlisting a new business partner
Although you may have done much of the groundwork on your own, there will probably come a time where you need some help with growing your business. There are numerous options open to you at this point, including seeking out a new business partner. Choosing the right...
Top reasons for contract disputes
One of the main reasons to use a contract is to avoid a dispute by getting all of the details in writing. It also provides some level of guarantee that goods or services will be rendered, or that an employee or business partner will act in a certain way. ...