There are three types of partnerships: general partnership, limited liability partnership and limited partnership. The type of partnership determines the amount of liability you can potentially face. Depending on which describes your business, you can define your responsibilities accordingly.General Partnership General partnership is the most common type of partnership. No formalities are required for a […]
Proper planning is key to the survival of your business. Eventually, employees will return to the workplace, and it is up to you to make sure they feel safe and secure. These are a few essential components that will ensure an effective plan.RearrangeSocial distancing, along with mask-wearing, will still be necessary for the foreseeable future. […]
Business interruption (BI) insurance is just one avenue being explored by businesses currently assessing any current or future losses caused by COVID-19. Another possibility is Civil Authority coverage, which could address the restrictions placed on certain businesses by the government. Finally, a third option is called Contingent Property or Dependent Property coverage, which pertains to […]
Funding for the first phase of the New Jersey Economic Development Authority’s Small Business Emergency Assistance Program was exhausted within a month of the start of the economic shutdown, followed by a second phase, which was also met with an overwhelming number of applicants. On October 14th, the NJEDA announced a third phase, the funding […]
Autumn is lovely, but if you own a small business, winter looms large. With indoor capacity still limited to 25%, ideas are in high demand. We came up with some suggested alternatives for a variety of small businesses, and here they are:Home & GardenThis idea is specifically for hardware stores and/or garden centers. Depending on […]
It is expected that more than 100,000 New Jerseyans will soon be receiving letters about a second stimulus package, out of 9 million Americans deemed eligible. The major obstacle blocking the passing of a second stimulus package was the power struggle following the death of Supreme Court Justice Ruth Bader Ginsburg. Congress is unlikely to agree […]
No one has been exposed to the coronavirus more than essential workers such as first responders, nurses or caregivers in nursing homes. Yet, the struggle to clear the path for them to qualify for worker’s compensation benefits continues. A new bill signed by Governor Murphy will remove the burden of proof and will give essential […]
Outdoor dining is by no means a new experience. All types of eateries have been refining the experience for years. In New Jersey, no one in the restaurant business can afford to simply wait for indoor dining to return. Instead, they must consider new ways to enhance the outdoor dining experience for their customers and […]
Business owners cannot afford to think in terms of normal, old or new. They cannot wait for a post-Covid world, whatever that may be. They must survive, and to do so, they must seek new opportunities and adopt new attitudes. Take the following quotes to heart, and keep them in your mind, as you move […]
At the start of 2020, New Jersey was home to close to 900,000 small businesses. It is difficult to say how many remain open, but is certain that many have permanently closed, or are on the verge of dissolution. At this juncture, business owners need to ask themselves if a full dissolution is even necessary. […]