We recently discussed how, if you are starting a business partnership, you should use a partnership agreement. This can help you avoid disputes and conflicts. It also protects your rights as a business owner and can help to define your role at the company. But before...
Business Formation & Planning
What are LLCs and sole proprietorships?
A person who’s starting a business will have to determine what type of business structure they plan to use. This decision directly impacts various aspects of the company’s operations, so it’s critical that they fully understand their chosen option. For a new small...
The importance of creating an employee handbook
An employee handbook is a document that outlines company policies, expectations and workplace rules. It serves as a guide for employees and helps businesses operate efficiently. Many employers overlook the importance of having one, but a well-crafted handbook can...
Reasons to use an official partnership agreement
When you start a business with someone else, you may be tempted not to get an official partnership agreement in place. After all, you know this person and you are comfortable working together. The two of you may be friends, family members or coworkers, so you are just...
What are the benefits of acquiring a franchise?
When thinking about business, the aspect of building the business from the ground up can seem daunting. Market factors, competition and the uncertainty of establishing a brand can present significant challenges for aspiring entrepreneurs. Acquiring a franchise is,...
5 tips for contracts with social media influencers
Social media has become irrevocably interwoven with modern life, and social media influencers can really change a company’s prospects – for good or bad. It’s not unusual for even small companies to partner up with popular influencers since the right influencer can...
What makes a strong business partnership?
A business partnership is a legal arrangement between two or more parties with the purpose of sharing business operations. The typical intent of a business partnership is to provide opportunities that would not have been available without the arrangement. For example,...
3 things that could derail your business
When you set up a new business, it is important to remove any rose-tinted spectacles you may unwittingly have put on. While a positive attitude is crucial to getting a business off the ground, it can sometimes cloud people’s judgment. Staying aware of what could go...
The mistake entrepreneurs make that leads to personal liability
When starting a new business, many entrepreneurs specifically create limited liability companies (LLCs) to shield themselves from personal financial risks. They do not want to be financially responsible for the business's debts or leave their assets at risk if someone...
3 risks to address when forming a Florida startup
Starting a new business is exciting and rewarding, but it may expose you to unexpected financial and legal risks. For example, failure to comply with Florida employment laws can land you in hot water. Knowing about some of these risks in advance can help you address...