What Small Business Owners Should Know about Business Credit
Friday, August 30
For a small business to grow, it is often necessary to borrow money. In fact, the Small Business Administration reports that the inability to obtain funding is one of the main obstacles that prevent small businesses from expanding their operations. To increase your business’s chances of obtainin...
Record Keeping for Your Business: What's Required?
Friday, August 23
Whether you are just starting up a new company or have a business that has been in operation for a while, good record keeping is an essential part of running your business. You are responsible for establishing an effective system to store and maintain your business records whether your small bus...
Transferring LLC Membership Interests Part 1—An Overview
Monday, August 19
Say you are a member of an LLC. You own membership interests in the LLC. But what if you want to leave the LLC? What if you get a divorce? What if you have creditors seeking immediate repayment? What can you do with your membership interests? The answer depends on how transferable those membersh...
LLC Operating Agreement: Is a Non-Compete Clause Necessary?
Wednesday, August 14
You and several friends start a new business and decide to operate it as a limited liability company (LLC). Now that you’ve completed the first step—choosing a business entity—it is now important to prepare an operating agreement. The operating agreement is a contract which governs the operation...