If you’re trying to operate a business in this environment, you may be rightfully concerned. The pandemic and the associated economic downturn have made things tough for many going concerns. Surprisingly, however, these events have spelled opportunity for those with...
What is keeping you from starting a new business?
You may believe the time isn’t right to start a new business. The pandemic and the economic downturn have meant immense changes to the business landscape. At the same time, however, there have been many businesses that have survived and even thrived in this...
5 ways to get funding for your business outside of your savings
When your business needs cash to survive, you may expect to borrow from your 401(k) account or other savings. This is called “bootstrapping” and it seems like a straightforward, “do or die” solution. Unfortunately, some people may not have sufficient savings to infuse...
Now might be the time to consider a franchise opportunity
If you have money to invest in a new business, you may be struggling to find a reliable, profitable venture to invest in. Or, you may have an existing business that has hung on so far but faces serious challenges. In an ordinary year, according to the U.S. Bureau of...
How do you shut down your startup?
According to Harvard Business School, 30% to 40% of business startups fail. That means the company liquidates all of its assets and the investors lost much or all of their investment. If you measure failure by whether the company reached its projected return on...
Is it time to consider a new entity for your business?
As your business works to get through these hard times, you may wonder if you have structured your company in the most advantageous way. The question requires attention to the same issues you originally considered: your management style, your taxation preferences, and...
Series LLCs in Texas
The series LLC is a relatively new concept of business ownership and not well understood. However, individuals who own and operate several businesses or who have many diverse investments may benefit from the protections a series LLC affords. Entrepreneurs and business...
Is an LLC structure right for your new business?
Finding the right structure is crucial when building your business. It factors into every facet of operation, from regulation to taxation. Depending on your business’s size and needs, you may want to consider forming a limited liability company (LLC). We recently...
Is an S-corp right for your new business?
As you form your new business, you want to create a business entity that enables you to thrive. You want your company to save as much as possible on taxes while letting you grow successfully. One type of structure that you can consider is an S-corporation, or S-corp....