It’s no secret that the economy is undergoing a massive correction. Inflation is high, interest rates have gone up and many businesses are struggling to stay afloat. As fears of an even bigger recession loom large, is it time to diversify your existing client base?...
Month: August 2022
Why do I need to diversify my company’s supply chain?
Businesses all across America are doing their best to stay active and relevant as our country faces the current recession. One of the ways in which they are doing this is by diversifying their supply chains. While this is a great way to make suppliers compete for your...
Potential benefits of buying an existing business
Many business owners start their company and build the entire business from the ground up. You hear a lot of stories about major corporations that started in a garage or a basement. But you have another option if you’d like to be a business owner. You don’t...
What happens to your commercial lease when ownership changes?
It can be jarring to find out that the owner of the commercial building where you lease space is selling the property. You likely have questions about what this means for your lease agreement and your business. Property owners should notify their tenants of a sale so...
Can my business partner force me to sell?
When you started your business with a partner, you hoped that you would build the company for decades until it was incredibly valuable. But now it’s only been a few years and your business partner wants to sell the company. They think the value has gone up enough to...
Why you need an attorney when setting up a new business
As an aspiring entrepreneur, you may not like the idea of sharing your concept or revenue with anyone else. However, you simply cannot identify and address every possible concern while planning a business without support, nor can you truly evaluate your own ideas and...
Tips for avoiding contract disputes with your suppliers
Establishing and maintaining good supplier relationships is essential for doing business. Unfortunately, even with the best intentions, contract disputes can occur. It is in everyone’s best interest to resolve any contract dispute quickly and avoid legal intervention,...
Simplicity is key to positive business relationships, not tricks
When you find a supplier who can reliably import a material that is hard to come by, you may want to solidify a verbal agreement in writing. Contracts help businesses make their expenses and schedules predictable. A well-written contract protects your company and...
My commercial lease is complex. Do I need a lawyer?
You're looking to lease a commercial property for your new business. You found a space that looks promising, and you think that you can afford the rent. But then you're handed the lease, and it's more complex than you expected. It’s important not to sign anything...