Business owners and hourly employees in Michigan take note: Changes are coming in 2020 to your rates of pay.
Starting a joint venture can be a great way to collaborate and build a successful business. When working as a team, you and your partner will be able to mutually benefit from each others' skills, and you'll likely be more efficient as a result.
Engaging in business acquisition can be a great way for entrepreneurs to create wealth from already established business ideas. Start-ups are becoming increasingly common in today's world, and those who acquire small businesses do so because they see a huge potential for growth.
If you are starting a corporation, you will likely be setting your sights high, and therefore, you may want to do business in multiple states. If you want to start a corporation or a limited liability company (LLC), you cannot incorporate in more than one state. Therefore, you must choose one state to incorporate in, and register in the other states that you do business in.
If you have a business, drafting contracts will be an essential part of creating business relationships. Business contracts should be written in a way that protects your interests while at the same time enabling the relationship to be beneficial for both parties.
When you go into business with another person, it's critical that you're both on the same page in regard to your vision for the company, professional goals and responsibilities.
When two or more parties enter into a contract, they stipulate that they're in agreement on the terms of the contract. If a party knowingly makes false statements, it may be possible to hold them liable. These "statements" don't necessarily have to be in writing. In fact, remaining silent about something could also be considered making a false statement. To rise to the level of fraudulent misrepresentation, however, the false statement must have a material effect on the agreement the parties have entered into.
The entrance of one popular business into an area can attract many more businesses. That's what many in Detroit are anticipating with the announcement by H&M that they'll be opening a store downtown this fall.
One of the primary decisions you have to make when you are starting a business is what type of business structure you will use. This is determined largely by whether you have any co-owners and whether you are planning on hiring employees. There is also the matter of what type of protection you might need for your personal assets. We are here to help you review the possible structures so you can choose the one that meets your needs.
People who are just getting started in business might wonder what type of legal entity they need to establish. This is a complex question that takes many factors into account. For some individuals, such as freelancers and contractors, a sole proprietorship might be a viable option.