If you’re starting a small business, you’re going to face some challenges right out of the gate. Fortunately, you can plan for some of these things in advance and take proper steps to address them. This is why it’s so important to draft a business plan, – and a...
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Business Formation
What are the potential downsides of a business partnership?
If you are considering teaming up with a friend or relative as business partners, it’s important to understand the potential downsides of this business structure before going ahead. It can help you avoid a lot of unexpected trouble, down the line. Sharing certain...
What is an anticipatory contract breach?
In many cases, a contract breach happens at a specific time. Maybe a parts supplier is supposed to make a delivery at noon on Friday. But when that time rolls around, they don’t show up for the shipment, costing your business a lot of money in lost productivity. An...
3 common reasons new businesses go under
If you’re thinking about starting a business, you probably don’t even want to think about what would happen to cause that business to fail. However, it is important to consider why other businesses fail so that you can better safeguard your own company against such an...
Should you form a business with a family member?
Going into business with a family member is not uncommon. It offers different benefits, including that the parties involved already have an existing relationship, they understand each other's strengths and weaknesses and they get to spend more time together. So,...
Why vacation time should be included in a partnership agreement
If you’re starting a business partnership, it is important to have a partnership agreement in place first. This can help to define some key areas, such as the roles you and your business partner will have, how much money you earn, your ownership percentages, dispute...
3 reasons an LLC may not be the best entity for a startup
A limited liability company (LLC) offers benefits like some protection from liability and flexible management. It is a popular option for many new business owners. However, it may not be the best choice for every situation or company. A critical early step when...
3 areas to consider when starting your small business
If you’re interested in forming a small business, it’s important to take the proper steps in advance. You need to know how to structure this business, what type of paperwork you’ll need to file, if you need a specific license or permit, and much more. But it’s about...
3 important steps for those hoping to create an LLC in Georgia
Entrepreneurs in Georgia have numerous options when they want to start a new business. They could form a partnership with someone they trust or a sole proprietorship that they want to run on their own. Other times, possibly because they worry about legal and financial...
Does your business have a succession plan?
You’ve spent time and money growing your business from the ground up, and now it’s successful and thriving. Now is the time to plan for your company’s continuity and lay the groundwork for its long-term success. An effective succession plan can help ensure your...