An employment contract refers to the understanding of things such as job responsibilities, duration of employment and pay rate between an employer and an employee. Many employers have new hires sign a contract for various reasons when they come on board. Here are some...
3 common causes of contract disputes
Businesses of all sizes use contracts. While the process might seem routine, any party entering into a contract should remain mindful of the potential for disputes to arise. Contract disputes typically occur when one party fails to fulfill their end of the agreement...
Important lessons for businesses from the past two years
The past couple of years have forced business owners to contend with numerous challenges. Taking proactive measures to strengthen management practices and key relationships has helped businesses withstand tough times. Here are some ways that businesses have persevered...
Business plans serve as a guide during economic change
The economic situation can change greatly during the lifespan of your company. A business plan can help ensure that you adjust to new developments. The Houston Chronicle says that studying the market can be a good business strategy. However, this requires you to...
Alternative Financing Options for Your New Business Venture
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...
