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Choosing to become an entrepreneur can bring with it a lot of excitement. That said, it may not always feel like a simple path. Although it can be very rewarding, entrepreneurship often brings with it long hours working in a field that few, if any, others have worked...
One of the first things any new business owner must do is choose what type of business entity is best for the business. Each type has advantages and disadvantages. Forming your business as a limited liability company or corporation can be beneficial for several...
When you and your business partner launched your company, you remained had high hopes and aspirations. Success would come if you worked hard, understood the changing market and relied on a little bit of luck. Well, it worked out like that for a while, but not as long...
Succession planning is a critical component in preserving the longevity and continued success of an organization. Business owners can identify personnel weaknesses, training needs, staffing needs and which managers should be slotted into expanded positions....
As a skilled businessperson who understands markets, the need to be a visionary and relationship builder as well as how to succeed and knowing when to fold, you are used to calculated risks. You see solid growth on the horizon for your company, and, now, you consider...
In general, Connecticut is a great state for a business. The workforce is generally well educated and reliable and there are numerous growth opportunities. In fact, US News has ranked us as a top ten state for businesses. However, the Connecticut Unfair Trade...
If you’re starting a new business, you’ve probably realized that you have to become well-versed in an incredible number of subjects now that you may have no experience in. You’re starting your business because you have an excellent idea for a product or service, so...
If your business does not have a succession plan in place, you are not alone. Recent estimates find less than 55% percent of businesses are training a successor and 39% have no viable candidates for the role. Unfortunately, this lack of proper preparation for the...
Business owners are wise to actively plan for the transition of business ownership from the current owner to the next. But what does this mean? Although the exact answer should be different for each business, there are some generalities that hold true across the...
The current coronavirus pandemic has impacted every facet of our lives. In addition to changes in how we socialize, the pandemic has also had an impact on our finances. This has made it difficult for many to pay their bills, Are contracts still enforceable? In...
