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When starting a business, it is important to consider the different types of business structures available. Two of the most popular options are partnerships and limited liability companies (LLCs). Both offer advantages and disadvantages, so it is essential to...
Family businesses and partnerships have been around for centuries and have proved successful models for many entrepreneurs. However, running a successful family business can be challenging as it involves navigating complex family dynamics and business decisions. Here...
Your business needs may have significantly evolved since you began operations, and you see the need to change its legal structure. Various reasons may be behind this, such as expansion or cooperation with new-found stakeholders. Either way, it is a crucial decision...
Being in a business partnership comes with many advantages, from having a higher borrowing capacity to supporting each other. However, several factors can lead to partnership disputes, affecting a company's intended growth. For this reason, this guide discusses three...
People get into business partnerships for a variety of reasons. But like everything else in life, business partnerships come to an end at some point. When one or more partners decide to vacate a partnership, the exit can be contentious or amicable. However, dissolving...
A will allows someone to designate beneficiaries of their estate in preparation for their passing. When they pass away, their heirs won’t benefit from the testator's estate immediately. Instead, the heirs will have to wait for probate to end before they see any of...
Purchasing a new home is one of the biggest financial decisions you’ll ever make. This can be exciting, but your hard-earned cash is also at stake, so you need to be careful. Most transactions go through without issues, but there are complications in a minority of...
If you’re gearing up to launch a new company, you’ll want to formalize your business structure sooner rather than later. Registering your company will formally alert the state to the existence of your new business and will allow it to operate lawfully within that...
As your business grows, the current business structure may no longer be the perfect fit, and you may find it necessary to adjust and align with the new changes. For instance, a sole proprietorship may have been best for your start-up, but now that you plan to scale,...
Starting your own company takes courage. There is a chance that you’ll make a success of it but there is also every chance that your business will fall by the wayside. In fact, some studies indicate that only around 10% of startups continue to trade after the first...