Traditional banks typically turn down loan applications from new businesses that lack an operating history or satisfactory credit score. As a result, many Louisiana startups never develop beyond an idea. Fortunately, these alternative financing options can help your...
What should you look for in a business partner?
When you start a new business endeavor, you may want a partner to share the operational and financial responsibilities. While choosing the right person can support success, selecting the wrong partner can potentially result in conflicts. Keep these considerations in...
The pros and cons of a closely held business
According to the IRS, a closely held corporation limits its shareholders to just a few individuals, often less than 35. Generally, at least half the shares of a closely held business must be under the ownership of no more than five people. Review the pros and cons of...
What should business owners consider in business succession planning?
As a business owner, you know that you cannot oversee and manage your operation forever. At some point, you will have to pass your business over to someone else and hope that your operation continues to thrive. The U.S. Small Business Administration states that as of...
How do you choose the right business formation?
With the new year comes new goals. If this year’s goals involve starting your own business, growing your existing business, or ensuring that your existing business is reaching its maximum potential, there are several important decisions that you will need to make....
3 effective strategies for preventing contract disputes
Business dealings are often highly complex, and unless you take steps to avoid conflicts and misunderstandings, you run the risk of potentially finding yourself embroiled in a contract dispute. Contract disputes, while common, are also typically costly and...
What you should know about wage provisions
As an employer, there are many employment laws that you must follow. If you make a mistake, it can cost you dearly. One area in which you do not want to misstep is wages. Your employees will have no trouble with confronting you about any wage issues they have. The...
A basic checklist before starting your business
Many people dream of starting their own company. Still, very few of those people pursue their passion because starting a business is incredibly challenging and requires a significant amount of time and money. Luckily, there are ways to reduce the challenge and make a...
La. Supreme Court upholds forum selection clause in split decision
Many business contracts between entities in different states contain what are called forum selection clauses. These clauses specify both the state and court in which a legal action between the parties may be brought. A common example of such clauses can be found in...
Business formation can set the tone for success
Whether you are new to starting a business or this is one of many you've started before, each endeavor is a little different. This is because businesses are like snowflakes, no two are exactly the same! On a more serious note, business individuality can potentially...
