According to a new report from the U.S. Census Bureau, new businesses are forming at the fastest rate in a decade. Business applications soared by over 1.5 million in the third quarter, a 77% increase over the second quarter of 2020. Despite the devastating impact of...
Business Law
What’s Your Exit Strategy?
When you start a family business, you need to consider what will happen when you no longer can or want to run it. In other words, you should think about your exit strategy. It might seem unnecessary to think about leaving a business you have just started (or have yet...
Five Types of Risk Businesses Face
Pursuing a business venture naturally involves risk. Eliminating all risk is not an option—there are many factors beyond your control, and it is impossible to prevent every circumstance that might deviate from your plans. Nevertheless, you can decrease the degree of...
How Does LLC Ownership Work?
The limited liability company (LLC) is a popular business structure for new businesses because it provides unique opportunities for customization. But what does it really mean to own an LLC? Here is what you should know about LLC ownership. The Basics The owners of...
Protecting Your Business After You Stop Running It
Operating a business in the current climate has introduced many owners to incredible challenges. Across every state, including Minnesota and Wisconsin, business owners have struggled with temporary closures, shifts in operations, and new regulations and precautions...