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 single most important piece of advice made available to prospective business owners is a single word, repeated three times. The word is “location”. Where you choose to set up shop is emphasized for good reason. The subject warrants more than one blog post. This is the first in a two-part series. We will start with […]
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 […]
Understanding the type of lease you are being asked to sign can be the ultimate success or failure of your business. If you want to be sure that the final cost you pay is what you expected going into the deal, take the time to learn about commercial leases. Before getting into the three basic […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]