Succession planning is one of the most critical decisions a business owner can make for their company’s future. Having a mindful and well-thought-out succession plan can help ensure your business stays in good hands no matter what happens. Not only does it ensure that...

Many people want to start a business, but not necessarily on their own. Instead, they will seek out a business partner to enter into this venture with. In some cases, this may be a spouse or a close friend, but they may also want to try to search for the ideal...

Choosing the correct business entity is one of the key decisions to make when starting a business. Many people choose a sole proprietorship because it is easier and cheaper to set up than the alternatives. However, are good reasons many choose other ways to register a...

It is crucial to have a solid partnership agreement that defines your working relationship if you are thinking of partnering up with a friend or relative to start a new business venture. Otherwise, you risk running into trouble with not just the partnership venture...

Taking on a business partner means having practical and financial support at every stage of development for your company. It also means you have access to experience or resources that you don't possess.  A partner can be a major asset, but a partnership can also lead...

No matter the size of your business or what industry you operate in, cash flow issues can cause big problems. With the country seemingly in a downward spiral to a recession, now is the time to plan and anticipate potential issues that may arise. When you think about...

Starting a business is a huge undertaking. Once you have things “up and running,” you can’t slow down.  You must look ahead and set goals for the coming year to ensure your business continues on a trajectory of success. If you don’t have ongoing goals, there’s no way...

One of the most important decisions you must make as an aspiring business owner is picking the ideal legal structure for your business. Should you start off small under a sole proprietorship, partner with a close friend, or form a limited company? While it all depends...

As a successful entrepreneur, you know that a business is only as good as its key employees – and that fact alone can give you nightmares when you realize that a key employee is starting to look at other opportunities. If you have an employee that matters that much to...

Most everyone has heard the term “silent partner.” However, it’s important to understand what their role is in a business and how that role needs to be detailed in a partnership agreement. Basically, a silent partner is a person whose role is to invest capital in the...