Company Finance

Tips on Enforcing a Noncompete Agreement

Tips on Enforcing a Noncompete Agreement

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…)

How to Survive Bankruptcy

How to Survive Bankruptcy

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…)

Tips on Driving Your Business Further with Debts

Tips on Driving Your Business Further with Debts

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…)

Mobile Security Blind Spot that Requires Attention

Mobile Security Blind Spot that Requires Attention

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…)

Most Wonderful Startups of 2013

Most Wonderful Startups of 2013

We rummaged over 300 entries, examining various recommendations and proposals submitted by Forbes writers, investors and founders on the search for the most wonderful startups of 2013. Each of the nine companies selected in the outstanding startups were really producing outstanding results in its sectors and achieved substantial progress or were established in the last 12 months.

Recommendations and proposals from various organizations came to our desk while compiling the list. Among these enterprises are restaurants, PR agencies, franchises and nonprofit organization. This made the definition of term “startup” to become unclassified as it is being associated to different kinds of enterprises which may range from small businesses to apps and from profit making organizations to charity organizations. This led us to begin making researches and asking questions on the actual meaning of startup.  (more…)

Things to Avoid For the Success of Your Startup

Things to Avoid For the Success of Your Startup

Most startup enterprises do not live to the dawn of the day. I have been privileged to mentor over 500 startups and I realized that the problems facing these startup enterprises are recurring. You can avoid the problems faced by the faulty startups to achieve maximum success in your business. Below are highlights on these flaws.

Unscalable and small ideas

If you are notable to account for the number of potential customers you can boost for in your business, investors will be biased in investing in your startup. Investors will rather support the next Google and startups whose products will be accepted by the masses than they would a small business whose product is accepted by few people. (more…)