Strategies for Recovery from a Business Downturn
Successful business owners do not accept failure or defeat. If their business falls on hard times, they re-think and strategize. When sales and profits are lagging, they are proactive. This is a list of common strategies for consideration:ReinventionCall it reinvention. Call it adaptation. Either way, you must be ready to shift gears when you are […]
8 Cost-Cutting Strategies for Small Business Owners
There are quite a few lists of proverbs when it comes to saving money. They always involve tightening something, whether it be a belt or purse strings. That may be great personal advice, but when it comes time to cut costs for your small business, it is going to take some strategizing. For that, we […]
More Hidden Costs of Running a Small Business
So, you thought you had it all covered. You budgeted wisely, and your small business is up and running. There were even a few surprise costs that emerged, but you rolled with the punches. Now it is time to learn that a small business owner must always remain vigilant because running one is never without […]
Six Simple Tax Questions for the Small Business Owner
Plenty of individuals are comfortable doing their own taxes. That is not the case with new small business owners. It is easy to assume an accountant will handle everything, but it helps to have a basic understanding of small business tax. If you are considering starting your own small business, you can add tax questions […]
Commercial Leases: Maintenance and Repair
Responsibility for maintenance and repair is meant to be shared between the landlord and the tenant in a commercial lease. Rent may be a negotiating tool, but before you sign that lease, be sure that you understand what your obligations are — knowing what you cannot do is equally important. General expectations will always be restricted […]
Understanding Why Small Businesses Need Lawyers
Having your own lawyer always sounds like a luxury that only belongs to large corporations or extremely wealthy people. This is sad because many small business owners fail to understand what a business lawyer can do for them. In order to rectify that, we should probably look at the roles that lawyers play in the […]
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 […]