Business partnerships are a lot like a marriage. Ideally, the partners work together for years, perhaps many years, aiming toward a common goal. As the business grows, the partnership proves to be prosperous, and each partner contributes equally to that success. Also...
Some issues to consider when courting venture capital financing
Those who plan to launch or grow a business may need to secure funds. Fortunately, there are many options, from obtaining a loan to crowdfunding. Some business owners turn to venture capital financing, but there are some key issues to consider if the owner decides to...
Starting a business takes effective planning
Anyone who started their own successful business will talk about its difficulty. There are millions of details to handle, capital to raise, and countless hours of work keeping it all moving in the right direction. While many dream of opening their own shop, creating...
Buy-sell agreements often used for partnership changes
Even the steadiest of businesses go through partnership changes during normal times, often due to death, retirement, divorce, bankruptcy, or leaving to pursue other interests. But these are not normal times, which means that partnerships are shifting at a much higher...
A 10-step guide to starting a business
How do you start a business, anyway? As we continue to work through the pandemic, opening a new business has been a popular way to make headway. The pandemic came with plenty of downsides, but it allowed many businesses to identify market trends and opportunities –...
What do you need for your startup to thrive?
If you’re starting a business these days, you’re going to need a robust website. Due to the pandemic, a great deal of the U.S. economy has gone online, and people may not be willing to work with you if you don’t have a website. What else do you need for a startup to...
Older entrepreneurs may be in a better position to succeed
Older Americans have been starting businesses during the pandemic and making them a success. In fact, they are the most active new business owners in the country, according to nextavenue.com. About 80% of small business owners are over 45, according to the New York...
Need an angel investor? Here’s what they’re looking for in startups
An angel investor is someone who brings an investment to an early-stage startup company. In exchange for that investment, they get a stake in the company. Understanding that startups are risky, they typically bring between $25,000 and $100,000 to the table in the...
Building a new business? Working for free may be a mistake
When you start a brand-new business, you have to make sacrifices. You’ll be working a lot, naturally. You’ll be networking and building up the connections that will serve you in the long term. There may not be a lot of money at first, even if you secure significant...
What’s the best business entity for a general contractor?
The choice of a business entity involves consideration of your immediate and long-term goals. Choosing to operate as a sole proprietorship, a general partnership, a limited liability company (LLC), a corporation or some other entity has legal, risk and tax...