Running Your Business
BizFilings provides useful information to help you manage and grow your business.
The 8(a) BD Mentor-Protege Program is a public-private partnership sponsored by the SBA that seeks to grow disadvantaged startup businesses with the help of experienced ones. Qualified mentors are connected with eligible start-ups in an organized effort to transfer the experience of successful business owners to the next generation of budding entrepreneurs.
The HUBZone Empowerment Contracting Program is designed to stimulate economic development and create jobs in urban and rural communities. The program provides contracting opportunities to small businesses located in, and hiring employees from, Historically Underutilized Business Zones. If you and your business qualify, it could help you break into the business of government contracting.
The 8(a) Business Development Program provides on-going personalized business assistance and counseling to certified 8(a) small disadvantaged businesses in expanding their business, fostering profitable business relationships and becoming more effective in both the large business and government sectors.
The Small Business Administration administers several programs that are designed to help small businesses market to both large business and government procurements. One of these, the Small Disadvantaged Business (SDB) Certification Program, is aimed at helping disadvantaged small businesses compete effectively.
There are a variety of special federal programs and initiatives designed to benefit small businesses in the government contracting process. In addition, help is available from a variety of public and private sources, including counseling services.
This case study tracks the entire process of disputing and litigating a disagreement over a government contract.
If the government makes a decision you don't agree with regarding a government contract, you have alternatives. A contractor can use disputes, protests and other forms of conflict resolution to settle the issue.
Almost every federal contract contains a clause allowing termination for convenience or default. Termination for convenience allows the federal government to terminate all or part of a contract for its convenience, while termination for default means the government doesn't think you're performing adequately.
A formal quality assurance program not only helps you meet the government's contracting requirements, it also bolsters your position that you have the ability to meet the needs of the government with your product or service.
With the launch of a new federal website focused on entrepreneurship, business owners now have a wealth of online information at their fingertips. The problem, though, is finding it.
If you are deeply in debt, bankruptcy may be an option to consider. There are several types of bankruptcy, each with different requirements and outcomes. To select the right type, you must consider your situation and the types of debt you have.
In a state without a homestead exemption, or with an extremely small exemption, you may be able to shield your home from your creditors by arranging for someone else to have an ownership interest in it.
Asset protection requires that you understand how liens arise and what property is protected from the reach of your creditors by federal or state law. Many times, the fact that your assets are exempt from seizure makes a creditor reconsider filing a lawsuit against you.
Creditors come in two basic types: secured and unsecured. Although the amount of the debt may be the same, the remedies available to the creditor are very different. Secured creditors have a claim against a specific asset, whereas unsecured creditors do not.
When you hear the word "bankruptcy," it probably means a Chapter 7 proceeding. In a Chapter 7 bankruptcy, your assets (other than your exempt assets) are gathered together and sold. Any unsecured debt that isn't paid off from the sale proceeds is discharged, giving the debtor a debt-free fresh start.
A well-funded retirement plan can be a business owner's best friend. Sure, there is the obvious benefit of having a retirement nest egg. And, many people are aware that retirement plans can save you money on taxes. But, what many people don't know is that retirement plans can also shield your wealth from creditors.
The "homestead" exemption usually is the most important asset exemption, both in terms of amount and significance to the individual. However, the exemption amount varies widely from state to state, so it is important to understand how to maximize the protection offered by your state's law.
Property that is "exempt" is untouchable in the eyes of the law should you find yourself in the undesirable position of having a creditor's lien liquidating your assets.
To understand why asset protection is critical, it is important to understand the debtor-creditor relationship and the risks that you may face.
If you run your own business, you need an asset protection plan. This article provides an overview of why you need to a plan and what factors go into creating and implementing your plan.