All too often, small businesses imagine compliance with federal and state rules and regulations are the concerns of the big fish in the pond, that their noncompliance will go unseen, that sound compliance procedures and policies are not an essential part of the...
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small business law
What is an LLC operating agreement?
The initial and most important decision for prospective business owners concerns business structure. For numerous reasons, the most popular type, the limited liability corporation (LLC), melds the advantages of a partnership with those of a corporation. Despite that,...
The advantages and disadvantages of an LLC in New Jersey
If you just beginning to form a new business, undoubtedly, you will have done your research and have learned about the process for starting a new business and the steps that you should follow to establish your business and in what specific order those steps need to be...
What options should I consider as I try to finance my business?
Even the best business ideas will be limited in their reach if there is not adequate financing. In New Jersey, every business must have some form of capital to either get off the ground or to grow once it is in operation. This is a frequent obstacle that prevents...
Tips for business succession planning
Business founders and owners are like the rest of us and do not work forever. Businesses, especially smaller businesses, should plan and prepare for future leadership. Succession planning is important to assure that the business evolves, stays relevant and...
Small businesses need a continuity plan
According to researchers, 90% of small businesses that undergo a disaster and do not reopen within five days go out of business forever within one year. Natural disasters, health emergencies and cybersecurity threats to small businesses underline the need for...
Six issues to consider before signing a franchise agreement
Buying into a franchise can be a great way to satisfy your entrepreneurial streak. It can give you the well-established brand that you need to make a splash in the community while also providing you with the training, resources and equipment that you need to set...
What to do if you can’t pay your business income tax
As a small business owner in New Jersey, you know the importance of paying your business income taxes on time. However, running a business is unpredictable and various things can happen that make you unable to pay your taxes. What happens if you don’t pay your...
Navigating tough economic times in your small business
The economic upheavals of the past few years have left many New Jersey small business owners struggling and worried about the future of their business. As a small business owner, you must try to find a balance between keeping your business afloat, while not...
Using a trust in business succession planning
Working for one’s family may seem like an easy career to maintain; however, even small family-owned business can face the same complex matters that major corporations do. The longevity of a business is continually monitored, and if a business in New Jersey or...
