Andy Anderson

Andy Anderson

Friday, 05 March 2010 12:42

Partnerships

There are two types of partnerships: general partnerships and limited partnerships. A general partnership is created when two or more individuals agree to create a business and to jointly own the assets, profits and losses. A limited partnership may be created only by following certain steps set out in each particular state's statutes. The primary advantage of partnerships is that they can have more than one owner; the most important disadvantage is that the general partners are personally responsible for the losses and other obligations of the business.

Friday, 05 March 2010 12:39

Determining Value

A realistic business valuation requires more then merely looking at last year's financial statement; it requires a thorough analysis of several years of the business operation and an opinion about the future outlook of the industry, the economy, and how the subject company will compete.

Friday, 05 March 2010 12:07

Corporations

The stock corporation is more complex than the sole proprietorship or the partnership, but it has certain advantages that may make it worth considering as a business form.

A corporation is considered a separate legal entity; because of this, the owners of the corporation (known as its shareholders or stockholders) are not personally responsible for the losses of the business. Although a corporation usually has more than one owner, it is possible for only one individual to create and own 100 percent of a corporation.

Friday, 05 March 2010 12:02

Closing Checklist

It is important during the closing to make sure that you have legal counsel available to review all documentation necessary for the transfer of the business.
The following items should be addressed in a closing:

Friday, 05 March 2010 11:59

Choosing a Business

Finding profitable businesses for sale at reasonable prices can be difficult, as business owners often have an inflated idea of the market value of their business. There are, however, many resources for finding profitable businesses for sale.

Many find the idea of running a small business appealing, but lose their motivation after dealing with business plans, investors, and legal issues associated with new start-ups. "About half of all new establishments survive five years or more and about one-third survive 10 years or more. As one would expect, the probability of survival increases with a firm’s age. Survival rates have changed little over time.”- Source: U.S. Bureau of Labor Statistics, BED

For those disheartened by such risky undertakings, buying an existing business is often a simpler and safer alternative. Less stress and strain: An existing business acquisition does not mean stress free, but it will be significantly less than if you were always wondering and worrying if customers would really come and, if and when, the monetary investment would pay off on a start-from-scratch business venture.

Thursday, 17 March 2016 02:47

How to get started in your own business?

Ready to get going with your own business but aren't sure where to begin? You have a few options if you want to work for yourself and manage your own business. You could be pursuing your own start up, however, there are a lot of drawbacks of starting your own business. Including such obvious issues as having the right financial backing, but also there is no guarantee that your business will succeed. If you aren't sure you're ready to start your own business then perhaps you should opt to purchase an existing business. There are many advantages but the most prominent one is that an established business has numbers behind it that demonstrate whether or not the business is likely to succeed. 

Wednesday, 27 April 2016 02:45

How to get a small business loan

Ready to buy or start your small business? Financing a small business is one of the most common questions new entrepreneurs have when they decide to move forward with their plan. Getting a small business loan is a great option but it is best to be properly prepared before moving headlong into the process. Here's a brief outline and some advice before applying for your small business loan.

There is no set way to know when it's the right time to close or sell your business. however, there are some factors to consider when making the decision.

Sometimes small business owners think that the only real option for them is to close down a business rather than sell it. For some small businesses where the owner is looking to wind down, this may be the only real option. For other smaller ventures it may be more prudent to try to find a buyer. An important fact is, “when you close a business you most likely will not get full value for the business assets.”

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