Vision and ambition will take you about as far in the food business as they will in any other business. Ask any restaurateur, however, and you will learn that they are not enough. Most food businesses fail within the first year. Success requires a great deal of research, planning, capital, business acumen and perseverance. Did […]
According to the U.S. Hispanic Chamber of Commerce, there are 4.4 million Latino-owned businesses in this country that are responsible for the injection of over $700 billion into the U.S. economy. In the past year alone, the average annual revenue of those businesses spiked by 26.5%, while the number of credit applications jumped 22%. The […]
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 […]
As a business law attorney, I work with a lot of small business owners. It just so happens that I am one as well. Not only is that an advantage in my line of work, but it adds a sense of camaraderie between me and my clients. The day after Thanksgiving is traditionally known as Black […]
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 […]
Building maintenance is not just a matter of keeping your place of business neat and tidy. It is a matter of guarding against loss of business due to property disrepair and inconvenient closures. You must plan for maintenance before something breaks. That is sound business management. There are three major factors to bear in mind when […]
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 […]
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 […]
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 […]
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 […]