Most times, the normal challenges to starting a business which might include setting up a good plan, locating the right opportunity and financing the enterprise, are not the only things you will be faced with as a new entrepreneur. There are lots of potential disasters tagged alongside with businesses and most times you may not even be able to avoid these disasters irrespective of your smart approaches. (more…)
Taxes are seen as one of the most constant evils we encounter in our lives. If it is possible for many people, they will do without it but it is a necessity when cannot do without. More so, it is one of the most misconstrued concepts. However, if you learn the tips and how it works, you will realize that the processes are not as difficult as most people think. Do you have some puzzling questions about taxes, below are some of the answers and tips that might help you. (more…)
Employers are often apt in protecting their businesses from employees who would want to take undue advantage of them or those who come to spy out information from them and use it to their own benefits and to the employer’s demerit.
Most employers require employees to sign “noncompete” and “nonsolicitation” covenants as a measure of checkmating this danger. The employee agrees in the covenant not to be involved in similar business or one competing with the company within a stated geographic region in a defined period of time after leaving the job. (more…)
I declared personal bankruptcy in 2002. I was advised by my lawyer that the only way I could get out of the $80,000 lien on my personal bank account was to declare a bankruptcy. I got into the debt because of the infidelity of a former business partner and my own ignorance and blind trust. He might be defaulted his own part of the credit and the entire burden of the loan fell on me. This occurred because I did not read through the papers years earlier when he handed the agreement over to me to sign because I trusted his judgment.
I suffered lots of shame and humiliation for declaring bankruptcy. Although I tried my best to forget about the entire situation but this proved difficult especially when I have something to do with the bank. Robin Hardy of The Moosey Group Inc described it correctly. She said the main emotion felt at such point in time is failure. The feeling of failure comes from the way the creditors would treat you in such condition. They will make you feel like a failure, a looser and a nonentity. (more…)
Debt is indeed a great word to many small businesses not because lenders reluctance towards extending their credit but because of the effect it has on their purses. Experts say that incurring debt could be a wise decision for some small businesses if it occurs under the right conditions.
It is also quite obvious that small business credits are on the rise. This was made certain in a survey conducted by a financial analysis company, Sageworks, located in Raleigh North Carolina. The survey involved about 159 financial institutions and more than 50 percent of them said that they have a plan to increase their lending to small businesses but only 11 percent said that they plan to reduce it.
Philip Chang of Carbon Publicity, a media firm in Chicago which helps small businesses with financial issues, said that they do not foresee any difficulty with small businesses obtaining financing. (more…)
Before becoming the director of information services at Bush Gottleib law firm, Jose Quintero already have firsthand knowledge about how a lost smartphone can devastate a business. He worked for automated system analyst, a multinational company that has up to 700 attorneys spanning about 15 offices. Without Quintero’s knowledge, an attorney moved his photos, documents and data from his laptop to his iPhone without backing the information up. After a short while, the attorney’s laptop was attacked by virus and he lost the information in it and then he also lost his iPhone, leading to an absolute loss of the data. (more…)