One of the most common ways that a small business can be disrupted is when an owner wants to sell or transfer his or her interests the company. As a result, small businesses usually restrict the transfer of ownership in their companies.
Business relationships end for many reasons, sometimes unexpectedly. It is highly probable that there will come a time when of your partners will want to sell his or her shares or interest in the company either to a third party, to the company, or the remaining owners. It is important for business owners to address these issues early on, when the owners can reach an agreement on how to structure these transactions.
Topics: Legal
A common challenge for small businesses is finding the right leadership resources for key roles. Do any of these scenarios sound familiar?
Topics: Technology
The startup atmosphere in Austin, Texas is considered the best in the United States, according to Inc.com’s article on surge cities. The article cites the reasonable cost of living, loads of sunshine, well-educated people, the “Live Music Capital of the World” and the city’s fun streak as reasons people flock to Austin. The city is growing four times faster than most of Silicon Valley, drawing talent and startups from all over the country.
The Tax Cuts and Jobs Act (TCJA) created a new opportunity for business owners and taxpayers with capital gains to shield taxes on those gains if the investment is made into a Qualified Opportunity Zone.
Learn how others do it. Download our guide to growth.
When it comes to running a business, too much infrastructure is a waste; so is too little. In either case, it’s tough to maintain stability in uncertain times and grow when the time is right without the right supports in place.
Between December 3rd and the 24th the stock market fell more than 15%. The headlines were bold:
“US stocks log worst year since 2008.”
“Worst December stock performance since 1931.”
“Worst Christmas Eve performance ever!”
“Corporate Profit Crunch Looms.”
One person I know liquidated their entire portfolio December 23rd exclaiming they analyzed the “charts” and everything was going down. They added that a recession was guaranteed to happen in 2020. The media chimed in with unending dramatization on the end of times as we know it.
This article is Part 2 of a two-part series focusing on selling your business. Read part one here.
An estimated 70% of the businesses listed for sale do not close. It takes significant planning and preparation to successfully exit a business. The more transparent you are about any major business decisions, the more likely you are to build trust with a potential buyer. This can, in turn, result in obtaining a better price for your business. There is no guarantee that the right buyer will be interested in buying your business when you want to sell it, but here are some practical steps you can take to better position your business for sale.
Kay Oder has owned six companies, has been a resource to thousands to businesses and brought solutions to help business owners minimize risk, improve business performance and navigate today’s highly regulated and complex “business of being an employer”.
Today, Kay uses the insights gained throughout her career as a speaker, business owner and business advisor. Audiences enjoy her candid, informed perspective on HR related topics as well as her razor-sharp southern wit.
Kay is also a Certified Business Performance Advisor with Insperity, the $2.6 billion business performance solutions provider she has called home since 1993. Kay has consistently been among the company’s top producers during her 20 plus years with the organization, earning Insperity’s highest honors, including the Top Volume, Circle of Excellence and the Chairman’s Club awards.
Prior to Insperity, Kay was the President and Co-founder of Texas Valve Specialists, a supplier in the oil and gas industry. She has also owned companies in the construction, demolition, machining and promotional apparel arenas. She spent four years as a client of Insperity and upon selling her last venture, joined the Insperity team.
From an early age Kay demonstrated an entrepreneurial spirit, beginning at age six when she sold cantaloupes from her parents’ front yard, which she offered three for fifty-cents, with a free puppy.
Kay and her husband, Dale, relocated to Austin from the Houston area in 1996 when a theft occurred in their family: their granddaughter was born and stole their hearts, so they had to follow.
Insperity, a trusted advisor to America’s best businesses for more than 30 years, provides an array of human resources and business solutions designed to help improve business performance. Insperity® Business Performance Advisors offer the most comprehensive suite of products and services available in the marketplace. Insperity delivers administrative relief, better benefits, reduced liabilities and a systematic way to improve productivity through its premier Workforce Optimization® solution. Additional company offerings include Human Capital Management, Payroll Services, Time and Attendance, Performance Management, Organizational Planning, Recruiting Services, Employment Screening, Financial Services, Expense Management, Retirement Services and Insurance Services. Insperity business performance solutions support more than 100,000 businesses with over 2 million employees. With 2016 revenues of $2.9 billion, Insperity operates in 61 offices throughout the United States. For more information, call 800-465-3800 or visit www.insperity.com.
The holiday season can bring a host of social gatherings, gift exchanges and visits with family and friends. While these things make this “the most wonderful time of the year” for many people, they can create a dilemma for businesses, leaving workplaces sparse or with sidetracked employees.
To avoid a lull in productivity, employers may consider implementing the following tips this holiday season:
Topics: Human Resources
As we move through December, students will start taking final exams. Think back to your school days; were you a crammer or a planner? Imagine studying and preparing all year for an exam on material that is completely new to you. You are told you can study for twelve months and the exam will begin after a one month wait. This is the situation we find ourselves in with the new tax law. The time for studying will end this month, and after about another month to approve tax forms, update tax software, and provide tax information, the final exam will begin. Will you receive a passing grade on your tax return exam?
Ten years ago this month, Bernie Madoff’s Ponzi scheme unraveled in front of the world. Like a bad nightmare, the swindler made $65 billion evaporate from people’s lives. With the benefit of hindsight, we can identify some legitimate questions investors should have asked of Madoff that are just as relevant today. There will always be another con-artist. You cannot prevent someone determined to commit crimes—but you can hold them at arm’s length.
Topics: Accounting & Finance
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