Some people think that because you have a business entity such as a limited liability company (LLC) or a corporation that you don't have to worry about getting sued. In some instances that is true; however, that is not always the case. In this video, we discuss when you can be held personally [...]
We know that working capital (money) is the lifeblood of any business. Too little? You are out of business? Tune in and find out how to get more working capital for your small business.
Looking to hire your first employee? Congratulations! Many small business owners are ecstatic at the prospect of growing and offloading tasks off their plate. Before you do, you need to make sure you are taking care of these crucial steps, so you do not have problems down the road. Watch this video to make [...]
Business contracts and contract law can be confusing. Never fear! Think Legal is here! We think contracts are sexy. They are probably one of our favorite things for businesses.
According to 2018 data provided by SCORE, the largest provider of volunteer business mentors in the United States, 77% of U.S. small businesses use social media for their sales, marketing, and customer service. If you plan to usesocial media to promote your business, a social media policy is essential to protect your business’s reputation [...]
Unfortunately, most businesses must deal with non-paying customers at least occasionally. You can safeguard the time and money you have invested in your small business by taking several steps, both to lessen the likelihood of nonpayment and to obtain the amount owed once a customer has failed to make a timely payment. Be Proactive [...]
Are you considering leasing office or retail space for your small business? Your lease can have a huge impact on whether your business succeeds or fails. Several important provisions should be considered before you sign on the dotted line. Leases of a certain duration (usually one to three years, depending upon the state) are [...]
Small businesses make a huge contribution to the U.S. economy. Nevertheless, starting a new business is risky. Lenders view loans to small businesses, particularly start-ups, as among the riskiest they make, particularly when there is little or no credit history or business revenue on which to base their decision. In an effort to lessen their [...]
An LLC affords its members a certain amount of personal asset protection. Part of this protection hinges on the restricted transferability of LLC membership interests. Restricted transferability protects the non-transferring members from creditors and unwelcome new members, which upholds the integrity and value of the non-transferring members’ membership interests. Most (but not all) LLCs [...]
All successful businesses do their best to save money, improve efficiency, and increase profits when and wherever possible. This is especially necessary for small businesses on a tight budget. While there are numerous ways to save money, these eight cost-saving measures are among the easiest to implement: Bargain. Bargaining with vendors is one way to [...]