You can loose sleep over money even on a good day… But when you’re running a small business and the country’s economy takes a hit like ours has in the last couple of years, money problems can take you and your business under in a flash. A few tips to consider on the financial side of your business when money is tight: 1. Remember cash is king. Before you decide to make a capital purchase for your company that will Read More
Is Franchise Ownership All Its Cracked Up to Be?
We have all heard the dreadful statistics about how many new businesses fail within the first year and first few years of business. Franchise owners tout these statistics because the rate of survival for a franchise is much higher. Why? You might ask, we'll it's mainly about the systems. If you are contemplating a new business you should at least consider purchasing a franchise. It may not be a good fit for you Read More
Vendor Contracts – What Are They and Do You Need Them?
A vendor contract is simply a contract between you and one of your vendors. It is always a good idea to have all contracts in writing, for your protection, including these agreements. What is a vendor? First, it is good to understand what a vendor is: A person or company that sells goods or services to your company. This could be a supply of raw materials you use in your business or your coffee supplier. Why Read More
General Partnership Agreement Terms
A general partnership is a flexible form of business entity, however, as discussed in my blog post about general partnerships, it does not afford much protection from liabilities. In order to make the best of your general partnership, if that's the business entity that you are forming, you should have a written general partnership agreement. This agreement should memorialize, in detail, various terms of your Read More
Small Business Lawyer – What should You Look For?
Are you looking for a lawyer to support your small business? Many small business owners that I know have asked me how to do exactly that, find a competent small business lawyer that they can trust with their business. Hiring a lawyer may be more like looking for a confident than you might believe at first blush. When looking for the right small business lawyer for you, you should consider asking the following Read More
Is an S-Corporation Right for My California Business?
An S-Corporation is a form of corporation that operates with many more restrictions than a traditional C-Corporation. Like a Corporation, a California S-Corporation generally provides liability protection to its shareholders, however, to determine the shareholder liability for debts of the business you should look to the underlying entity, which can be a Limited Liability Company or a Partnership, for Read More
Your Independent Contractor Agreement Shouldn’t Be Virtual Even When Your Employees Are
You need to cut costs. Sure, who doesn’t these days? Layoffs and reduced staffing seem to be the order of the day. But you still need to keep your customers happy and that means you can’t afford to cut back on services. Like so many other small businesses, you’ve turned to the internet to find Independent Contractors to pick up the slack without inflating your personnel costs. The “no frills” concept of hiring Read More
Is a Corporation (or C-Corporation) Right for My California Business?
When you think of a corporation you undoubtedly think of a company like Google or Apple. These are both fine examples of corporations but you don't have to be the size and stature of one of these corporations that are household names in order to be a prime candidate to form a corporation. Corporations can be C-Corporations, like Google is and is what we usually think of when we think of corporations, or can be Read More
General Partnership – Is This the Business For Me?
A general partnership is created automatically, and possibly without intent, when two or more persons engage in a business for profit. A general partnership can be quite flexible and simple in its organization and operation and it acts like a sole proprietorship in that it does not offer any protections from liabilities. Of course, there are different kinds of partnerships, to include, limited partnerships and Read More
