Running Your Business
BizFilings provides useful information to help you manage and grow your business.
Once you've decided on the appropriate value for your business, the next step is to find a buyer. Potential buyers may be interested in your company solely for the money it will bring them; others may see it as a strategic fit for their existing businesses and yet others may wish to continue it as is. Preparing a selling memorandum is an important step in getting the message out to these buyers and conveying the important terms of sale.
Valuing your business accurately is essential if you don't want to risk leaving money on the table or scaring away potential buyers. Before undertaking the appraisal, put time into sprucing up your business and its financials. Effort spent at the outside will pay dividends down the road.
In order to get the highest value for your business and to negotiate the selling process effectively and efficiently, it is imperative that you enlist the aid of qualified professionals.
There are many external and internal factors to consider when timing the sale of your business. By evaluating these factors, you can take actions to improve your chances of a successful sale.
At some point, you may want (or need) to sell your business. In order to get the most value and ensure the success of one of the most significant business decisions of your life, you need to determine your priorities, evaluate the timing of the sale, and assemble an expert team to assist you along the way. You also need to understand the ethical and legal duties that you face as you exit your business.
Greening a business doesn't have to be a major or costly undertaking. There are numerous steps a small business owner can take that cost little or nothing to implement, and may generate a financial benefit. Setting goals, creating a plan to implement those goals, and monitoring the results of the plan are invaluable first steps on the road to a green business.
Bankruptcy fraud is a federal offense, but that won't help you if you're left holding uncollectible debt. Mortgage fraud is also a serious problem, particularly in light of the recent revelations of improprieties in their issuance.
Reducing the amount of waste generated by your business, either through changing wasteful business practices or by recycling, can have an immediate impact on both your bottom line and the environment. Paper and other disposable products can be reused, recycled, or even refurbished and used again.
The federal government can be a strong partner for a small business owner seeking to green a business. Many of the incentives are available through the tax system, but other federal agencies, including the Environmental Protection Agency and the Department of Energy are also potential sources of assistance.
Going green can be good for the environment and good for your bottom line. Small businesses can be part of the green movement through cost-effective measures.
The Small Business Set-Aside Program, Very Small Business Pilot Program, and Small Business R Funding Programs are some of the more important federal programs that are designed to benefit small businesses.
Reducing your energy consumption is frequently the most practical way to start greening your business because technological advances, such as more energy efficient light bulbs, offer an opportunity to immediately realize cost savings by conserving electricity. Simple changes in managing energy use, both in the workplace and when traveling, can result in immediate financial and environmental benefits.
The benefits of greening your business include cost savings, as well as psychic and intangible benefits.
Financial state government resources and private resources for greening a small business are available but are not abundant and therefore, can be difficult to obtain.
The government is generally required to pay you for work on a government contract within 30 days, and it usually requires the use of electronic fund transfers.
The use of money laundering to allow illegal money to be run through legitimate and sometimes unsuspecting businesses has grown due to advances in technology.
Transferring your business to family members or other insiders, in an orderly and successful manager, may be the toughest management challenge you face in the life of the business. Not only must you choose your successor wisely, you must thoroughly prepare him or her while confronting and resolving conflicting goals and agendas. Plus, you need to structure the transfer to minimize the tax impact on the business and your family.
No matter how successful your business is or how much you love what you are doing, at some point you must turn the business over to someone else. When that time comes, you will have two options: transferring the business to a family member or insider or selling the business to an unrelated third-party. The best strategy depends on a wide variety of factors.
Ponzi schemes, pyramids, and pump and dump frauds are but a few of the colorful names given to the multitude of ways to separate people from their money through investment scams. A sophisticated investment scam, but a scam nonetheless, involves securities fraud. While some of these schemes have involved billions of dollars, be wary of scams involving much smaller dollar amounts.
Due to the nature of the insurance business, the opportunities for fraud are legion. Pay particular attention to insurance claims relating to autos, health, worker's compensation, and, workplace accidents.