A lot of people dream about owning their own business, so you can hardly be blamed for getting excited about an opportunity to take over an existing business that you admire.
You may have dreamed of passing the family business down to your children and your grandchildren, hoping your enterprise would grow. However, that's often not how it works. Many family businesses that survive their founders don't have any clear heir to take the place of the original owner.
Around 500,000 existing businesses hang up the "under new ownership" sign every year after changing hands -- mostly because it's often easier to buy an existing business than to start one from scratch.
A Subchapter S (Sub-S) corporation is a type of business that meets specific requirements laid out by the Internal Revenue Service (IRS). In essence, it allows small companies with a limited number of shareholders (under 100) to enjoy the benefits of incorporating while still keeping the same tax rate as a partnership.
Misleading mailings? What exactly is that, and how could it be a big legal problem for a business?
You don't want to start a business without a business plan. In fact, you probably won't get very far when it comes to getting a bank loan or investors at all unless you know how to craft a solid plan.
When two companies merge, everybody gets nervous. That goes double (maybe even triple) for the employees of those companies because they are the ones who are often most directly affected by the changes, least prepared to make adjustments and most out-of-the-loop about what's actually happening.
What do you do when you suspect that one of your employees is reaching for "liquid courage" throughout the day at work?
In a nation where the "gig economy" has become the norm, independent contractors are all over -- and smart businesses are taking advantage of all the wonderful talent out there.
If you own a medical marijuana dispensary in Michigan that hasn't yet been licensed by the state, you have a tough choice you have to make: Close up shop until you can get through the process or give up on the chance to have a license forever.