If you own a small business, the chances are good that you fill multiple roles yourself. For instance, you could be a one-person Human Resources department. In this capacity, you may need to take on responsibilities like conducting an exit interview with an employee....
There are some activities we engage in outside of work strictly for personal reasons, with no thought of ever profiting from them. You might, for example, enjoy photography, hiking on the weekends, or collecting classic records. There is no monetary gain—and no...
One significant advantage of organizing your business as a limited liability company (LLC) is the flexibility it affords. The Internal Revenue Service (IRS) allows LLC owners to choose how their business will be taxed. As an LLC owner, you can be taxed as a sole...
The war for talent is heating up. A record number of workers have quit their jobs this year, creating a massive problem for employers. While higher pay can help get new workers in the door of your business, wages alone may not be enough to keep them there. Employers...
Running a family business is a labor of love. And there are numerous benefits to passing a family-run business down to the next generation. However, there are also many challenges. If you are hoping your children will take over the family business someday, your best...
Your family and your business are two of your top priorities. You would not do anything to compromise either one of them. But working with family members in a family-owned business presents unique challenges that can cause lasting damage to both, if not properly...
Technology is an ever-increasing element in most businesses. Companies want to set themselves apart by doing things better, faster and differently, and technological solutions often help them accomplish this. And now, scientists are using technology to predict whether...
You spend a significant part of your life building your business, and it becomes a major part of your legacy. But when you die, everything you have built could fall apart if you have not taken the time to create a business succession plan. Without a plan in place,...
Numerous tools protect proprietary information, from contractual agreements to sophisticated security programs. However, not all tools are suitable for every business. And in some cases, the law could restrict the use of specific solutions. Such could be the case if...
Whether you are starting a business or restarting a business, doing so in a post-COVID-19 world can come with some unique and complicated challenges. In this environment, business owners may want to consider some ways to adapt their operations as the world opens back...