Michigan small business owners may be wondering if the time to sell their company is now or in the near future. There are many things to take into consideration, decisions to be made and actions to be taken if an owner is contemplating a sale.
Michigan employees may wonder about their options in cases of work-related sexual harassment. Two women who were fired for their complaints about such conditions are fighting back by way of a lawsuit. The 24-year-old and 34-year-old women filed the suit in Vermont in December 2014.
Entrepreneurs in Michigan might be interested in learning more about the different steps involved in starting an enterprise. Conducting a significant degree of due diligence is recommended for anyone seriously considering opening a business. Aspiring business owners may benefit from researching employment laws, tax laws and financial funding, as well as the appropriate industry and business knowledge for the venture. One of the first steps in starting up an enterprise is to draft a business plan.
Those in Michigan who are considering into going into business often must decide whether it makes more sense for them to strike out on their own completely or if they would rather choose to franchise. With a franchise, the owner will enter into an agreement with the corporation that holds the trademark or name in order to do business under it.
Sexual discrimination at work occurs when any employment decision is made based on a person's gender, such as a denial of promotion. Employers who discriminate against transgender individuals are also committing sexual discrimination. These laws also apply to job applicants as well as those connected to outside groups who may be associated primarily with one gender.
Some readers from Michigan are likely to understand how difficult it can sometimes be to achieve a satisfactory amount of work-life balance. Although extended leaves of absence for family reasons can create some hardship for employer and employee alike, there are laws in place to prevent an employee from being penalized in such cases.
Many Michigan residents associate non-competition agreements with senior executives who could damage their employers if they were to take their inside knowledge to a competitor. However, court records indicate that even fast food workers, hotel maids and nail stylists are sometimes prevented from seeking similar jobs elsewhere by this kind of restriction. This trend led some lawmakers to call for investigations by the Department of Labor and the Federal Trade Commission in October 2014.
Michigan entrepreneurs considering making a bold business move with a fresh startup may be looking for guidance regarding how to effectively assemble and launch such a venture. Business planning is an essential component in effectively adapting and growing during periods of uncertainty, but the seeds of success are sown early on in the initial stages.
Those who are considering starting their own business in Michigan may be curious as to how their business should be set up. While it may not be necessary to incorporate, there may be several benefits to doing so. Incorporating a business may make it easier to get a loan while providing protection against liability. Freelancers are generally not required to incorporate, although they may choose to if they so desire.
A Michigan entrepreneur may not think about getting rid of a business at the start of operations. However, experts indicate that this is the very point at which the sale of business should be considered. Planning should continue from this point going forward. As an example of the importance of the issue, statistics indicate that an estimated 12 million small businesses in the nation will be sold over the next 10 years, attributed primarily to the imminent retirement of many Baby Boomers.