Michigan is an at will employment state, meaning that employers are able to terminate employees at any time, for any reason; employees are also free to leave at any time and without notice. However, an employment contract adds obligations for employees and employers alike; while they do away with the "at will" component implicit in contract-less employee-employer relations, they can specify the specific job duties that an employee must perform as well as what constitutes terminable offenses.
Small business owners in Michigan may be interested to learn about transforming a solopreneurship into a different business structure to compensate for growth. As solopreneurs, 18 million people in the United States are responsible for running a business completely by themselves. This means that everything from fulfilling orders to advertising is done by only one person. If the business becomes successful, these solopreneurs may need to expand.
Some individuals find the idea of purchasing an existing business to be easier than starting their own. With an existing organization, many policies, processes and client lists have already been developed, which may reduce the initial costs associated with owning a business. However, it is important for people to do due diligence to ensure that they understand the current state and value of a business before making a purchasing decision.
Michigan entrepreneurs and small business owners are probably energetic, productive individuals. They may not want to slow down long enough to create a plan for their enterprise and their time. However, a plan may be the most important tool they have for making sure that their business is moving in the right direction and that they are focusing their skills and energy on necessary activities.
Before a business is bought or sold, it is essential to the process that both the buyer and seller have a firm grasp of the value of the organization in question. Failure to completely take into account for the worth of a business can lead to a variety of problems, both legal and financial. There are a variety of factors involved in determining the value of a business, including goodwill, a client list, any real property, inventory and other assets, such as machinery and equipment.
Michigan residents who are interested in starting their own business know that planning is essential. Knowing what needs to be done at every step of the way makes it less likely that expensive changes will be needed in the future. Enlisting the aid of an attorney may be beneficial to new business owners.
Michigan entrepreneurs interested in selling their online businesses should be aware of the major factors driving sales prices. As with nearly all enterprises, the most important attribute is profit, but the price that an online business may demand is also affected by concerns unique to the online marketplace.
Michigan entrepreneurs may be interested in learning about the different types of business that can be formed. One type, a partnership, is a simple way to structure a business. They have no formal requirements and do not necessitate paperwork, but in some cases, outlining duties and obligations may be beneficial. There are a number of different types of partnerships. Each type provides varying benefits and restrictions.
Thirty-two migrant farm workers in southwestern Michigan have sued a major seed company alleging unsafe work conditions and poor housing conditions. Seven of the workers' children are also named as plaintiffs in the lawsuit. Most of the workers who filed suit had moved to Cass County from Texas after being hired in 2012. The workers remove the tassels from corn that is still in the ground, an activity that requires intense physical labor.