Federal law has a large section of interstate commerce laws called the Uniform Commercial Code (UCC) which, among other things, provides for lenders to see what other lenders have secured as collateral for a business loan. Normally this is all collateral other than real estate. There are several forms within the UCC that business owners should understand because they affect their ability to secure future loans.
The cash flow cycle in a business can be a lot like the workings of a four-cycle engine. Before an engine can produce any power, it must first consume energy. The fuel mixture must first be compressed in the cylinder. Similarly, a business needs an input of capital and labor before it can produce any profits.
Many municipalities face challenges when depositing funds due to the Texas Public Investment Act. To ensure that public funds remain safe, the Act places restrictions on how government entities invest their money. Cities, counties, school districts, municipal utility districts (MUD), special districts, river basin authorities, hospital districts, and emergency service districts (ESD) are all subject to these regulations.
Last summer we penned an article outlining concerns over GoPro—the super action camera/video company which had just brought itself public. At the time, the demand for the stock was red hot sending its price from the low 30s in late June to more than $93 per share by the end of September.
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Corporations and LLCs are required to keep their minute books up to date. Document important business decisions on an on-going basis. Oftentimes, this can be handled by a unanimous written consent signed by the business owners rather than holding an actual meeting.
When it comes to workplace dynamics, most employees would likely agree that office politics can play a significant role within the company. Everyone is competing for special recognition or a big promotion, and many will do whatever it takes to achieve it. This self-serving mentality is often at the core of office politics, and as much as employers and employees alike want to avoid them, these nuances are a fundamental part of any organization.
The start of the New Year is the ideal time to implement one of the most powerful financial management tools in business: a reliable financial forecast. It’s a tool designed to help you answer questions like:
As you may have heard, Congress recently passed, and the President signed into law, the Tax Increase Prevention Act of 2014. This extended many popular tax provisions that significantly impact individuals and businesses. This legislation renews, at least for tax year 2014, a retroactive extension of business and individual tax provisions that expired at the end of 2013, and comes just before taxpayers and the IRS gear up for the 2015 tax filing season.
It’s hard to get what you want in life if you haven’t taken the time to figure out what you really want. The same thing applies in business. You need to clearly define exactly what you want to accomplish financially in order to be successful in business.