When you created your LLC, you likely did so in the hope of protecting yourself from personal and financial liability related to your business operations. Provided that you avoid commingling and other major mistakes or misdeeds, the incorporation of your business...
Year: 2021
Renegotiate your lease with Chapter 11 business bankruptcy
As a business owner, there is nothing tougher than having to make the decision to go into bankruptcy. Even though Chapter 11 bankruptcy allows you to restructure your debts and keep your doors open, it may seem like a failure. Set aside that feeling, because the...
Selling your business? Get it appraised and prepare to transition
As you’ve gotten older and closer to retirement, you decided that you don’t want to continue on with your business. Since that’s the case, one thing you may want to consider is selling your business to someone else. There are different people who might be interested...
2 common reasons business partners wind up fighting in court
Becoming business partners with someone means putting a lot of trust in that person. Depending on the language in your partnership agreement and the way that you form your company, you could take on some liability for their decisions or make major investments that...
My business is losing money fast — what can I do?
As a business owner, your business will feel to some extent like your child. You built it from scratch, and you have invested your time, money and soul into it. To see it struggling can be heartbreaking and very worrying. If you have a business that has been...
Chapter 7 bankruptcy for business is an option when you close your doors
As a small business owner, you wanted your business to succeed. However, with the dip in the economy and changes in how you had to run your business, there doesn’t seem to be a way to move forward. If you’re ready to shut your doors for good and to get your finances...
How Chapter 7 bankruptcy helps when you close your business
Businesses fail for all kinds of reasons. Maybe you had a supplier who retired or went out of business, and you can no longer source crucial materials for a product that you make. Perhaps demand for the services your company provides has declined as the industry has...
4 things you should know when buying a business
Building a business from scratch is a process that takes months, if not years. It also requires a much different skill-set than the successful management of an existing company. If you find yourself wanting to run a business without needing to build it from the ground...