It takes time to navigate the process of setting up a new business. Owners have to make important decisions that could make or break the success of their company. One of the essential decisions they have to make is choosing which entity is best for their business. And...
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Business & Commercial Law
4 reasons to start a business partnership
When starting a business, you have many options to find success. For instance, you could form a business partnership. A business partner could be someone who shares your ambition and helps your business grow to its full potential. While that may not be enough of a...
Should a business owner wear many hats?
At some point, you may have heard people say that business owners wear many hats. This is a very common sentiment, and it is often said about entrepreneurs. It’s a metaphor, simply stating that they have to take on many different roles within the company. For example,...
Is now a good time to sell your company?
Taking the leap to launch your own business has been one of the most rewarding things you have ever done. You built a successful brand, have made profits and given others employment opportunities. With that being said, there are few business owners who run their...
What does it mean to have a silent partner?
Most people have heard the term “silent partner,” but fewer know what on actually is. It may even seem a bit nefarious – like someone having an influence on a business or helping keep it going financially without any public awareness of their involvement. In...
Do you personally have to pay business debt?
Debt is something that can keep people from taking risks and making business decisions, simply because they worry about having to pay back that debt if the business doesn’t pan out. The amount of money needed to start a business might be so great that the individual...
Tips for protecting your family business
Opening a family business offers several benefits. You can leave your children and grandchildren a legacy and have something lasting for future generations. However, to do this, it is necessary to continue on a path of growth and success. Unfortunately, disputes may...
Reasons to terminate a business partnership
Getting into a business partnership can be an exciting undertaking for any entrepreneur. If you get it right, a partnership can help the parties bring their resources and talents together, expand their production and market base and grow their bottom line. But what...
Do business partners need to enter on equal terms?
If someone offers you a business partnership, you might hesitate because it seems like too big a commitment. Perhaps you cannot afford to invest as much as them. Or maybe you just can't dedicate the same amount of time. The good news is you may not need to, and it may...
Mistakes you need to avoid when selling a business
Selling a business successfully requires adequate preparation and the ability to navigate the complex legal and financial aspects that come with the process. It is not uncommon for mistakes to happen along the way. And if they do, the repercussions can be...