Many entrepreneurs refer to their business as their “baby” and rightfully so. Like a child, entrepreneurs nurture their business from an idea through conception, to growth, and maturity. Running a business is much like raising a child. Both require a lot of time, tears, resources, and effort to be successful. People often prepare for what… Read More »
Posts Categorized: Small Business Owner
Tips for a Successful Family Business Succession
Fewer than one-third of family businesses survive into the second generation, while only 13 percent make it to the third generation. Here are some tips to beat the odds and help your business live on for generations to come. The sooner you start the planning process the better The sooner you start planning for succession,… Read More »
The Most Important Legal Tool for Small Business Owners During the Crisis
The most valuable tool for small business owners right now is a “business specific” Durable Power of Attorney (DPOA). General DPOAs are commonly found in most well-crafted estate plans. However, in our experience, a small business owner may have more specific issues that need to be addressed in their DPOA due to their unique needs…. Read More »