Choosing the Right Location for Your Small Business: 8 Deciding Factors
The best strategy follows extensive preparation. In Choosing the Right Location for Your Small Business: Budget & Space, we prepared by determining the budget and space needed to choose the right location for your small business. Now we can focus on eight specific factors in order to make our final selection.DemographicsWho are your target customers? […]
The Basics of Signing a Contract
A sole proprietorship is as simple as it gets. You are the sole owner of your business. You started it. You run it. The profits are yours, minus Uncle Sam’s cut. The moment your business requires interaction with others, contracts enter the picture. Contracts are inevitable but, all too often small business owners fail to ask […]
Pursuing a Property Tax Appeal
Welcome to New Jersey, home to one of the highest property tax rates in the nation. What can you, a business owner, do about it? How can you save thousands of dollars per year? The answer is simple. You should pursue a property tax appeal if the tax assessed value is significantly higher than the […]
What is an Asset Purchase Agreement?
An agreement between a seller of business assets and a buyer is called an asset purchase agreement. It sets the terms of the sale and includes provisions such as payment of the purchase price. All of the business assets, fixtures, furnishings and equipment that the seller utilized for company business are included. This also includes […]
Promissory Notes and Repaying Loans
Borrowing money can feel good when motivated by the goal of starting your own business. The lingering anxiety belongs to the question of repayment. A business attorney will help you understand the ins and outs of the various repayment plans. Those terms are set when you sign a promissory note.What Is A Promissory Note?A promissory […]
Five Challenges Facing the Family Business
Anyone who starts a business will have plenty of hurdles to overcome. The same could be said for starting a family. What happens when you combine the two? Here are five challenges one might face while running a family business:Playing FavoritesEmployees of a family business often get the job because they are related to the […]
How to Avoid Unwanted Liabilities When Buying a Business
Buying a business from someone else can mean taking on both their assets and liabilities. What wording should you look out for if you are the buyer in an asset purchase agreement? A carefully worded asset purchase agreement is necessary to ensure liabilities are left behind and fewer obligations are passed on to you. A […]
Three Ways a Family Business Can Stay Competitive in the Digital Age
How does a family business stay competitive in the digital age? The family business has had to remain competitive long before the digital age and will continue to do so in any age to come. Times have changed and so have families, but these three advantages will help ensure the success of the family-owned business […]
Essential Factors to Consider When Selling a Family Business
Selling a business is no simple task. It is a matter of when to sell, just as much as it is about whether or not to sell. There are still further considerations when it is a family business. If you are the owner of a family business and are thinking of selling, you should take […]
A Guide to Running a Family Business
Employees are always advised to avoid workplace relationships. Yet, family businesses have existed for centuries. One could argue that family relationships are ones you cannot avoid, but there is a certain ironic overlap here worth exploring. A non-family business relationship is strictly business. In a family business, interpersonal dynamics and emotional subjectivity are unavoidable. Owners of […]