Even though two small businesses may seem completely different at first blush, both may actually be quite similar in terms of their business needs and the challenges each faces on a daily basis. Take for example a landscaping business and a small manufacturing company. While for the landscaping business, summer is the busiest time of year, whereas for the manufacturing company seasons do not really impact the company's day to day business operations. However, regardless of whether business picks up or remains the same in summer, one thing these two businesses have in common is that both need to hire summer employees.
You and your business partner started your company 15 years ago. Together you saw your business grow from just a spark of an idea to a fully functioning and profitable company. When you started the business, you had zero employees and only a few loyal customers. Now, your business has a faithful following, a website, and a few dozen employees. You think to yourself, your business is finally on 'easy street'. That is, until your business partner tells you he or she would like to leave the business. A partner exiting a business can be a challenging transition. But it does not have to expensive or litigious. The following is a list of tips that can help ensure a peaceful transition:
As a small business owner, you have likely spent countless hours building and growing your business. With all this time invested in your business, stop and think what you would do if your business suddenly vanished right before your eyes. This scary scenario could easily become a reality if you have not carefully divorce-proofed your business. Whether you are happily single or blissfully married, there are things you can do now to shield your business in the event of a divorce. If you do not think that divorce proofing your business is necessary, think again. Here are just a few of the reasons why any business owner should strongly consider taking steps to divorce-proof his or her business: