When preparing a business succession plan, you should keep in mind the various ways that passing your Massachusetts business from one set of owners to another may go wrong. For instance, you could plan to hand off your company to another set of owners, but may want to incorporate a way for your family members in the future to buy
Leaving your lifeblood in the hands of someone else is rarely easy, but the more time and energy you spend on your Massachusetts business succession plan, the smoother you can expect the process to go. At Kajko, Wiseman & Colasanti, LLP, we have a firm understanding of the elements commonly found in a strong business succession plan, and we have
Technology has created many wonderful opportunities for business owners. With a few hundred dollars, you can create an online store and start running your business from your laptop. You can also respond to customer inquiries wherever you are and fulfill orders while you sit on your couch. However, the ease of setting up shop also means your competition has increased.
A part of business succession planning is to think about who should take over your Massachusetts business in the event you pass away or are no longer able to run the company. It seems natural to consider your son or daughter to become your successor. For some business owners, however, the decision is not so clear cut. There are several questions
If a consumer accuses your business of violating the Consumer Protection Law, your company may face serious repercussions. Massachusetts law may inflict punishments on your business and its stockholders that may halt your company’s success. It is essential, if your business finds itself involved in a lawsuit that claims it violates the Consumer Protection Law, that you hire an experienced
As the owner of a Massachusetts family business, you may find that your work offers many benefits. You may, too, have plans to leave your business in the hands of a trusted family member or close confidante once you are no longer able to run it yourself, but you may be unsure about what, exactly, the process of doing so
Business owners could transfer ownership of sole proprietorships in Massachusetts via a sale of the business assets. This type of sale, like almost any other, would require some planning to minimize tax burden. After some analysis, planners might discover that a conversion, such as incorporation, is advantageous from a financial perspective. There are several cases in which a succession plan might
Although it may be difficult for Massachusetts business owners to plan ahead for business succession, experts say it is a good idea. Proprietors may find themselves resistant to the idea, believing that because retirement is several decades away, they can put off the inevitable. The American Bar Association defines business succession in a way that pushes back, framing the process as similar
If you are a Massachusetts small business owner and you want see your business outlive you, there are certain steps you can take to streamline the business succession process and ensure that your desires come to fruition. Though business succession planning can prove relatively complex, you may find that protecting your life’s work is well worth the time and effort.
Getting a business started is hard enough. There’s so much to think about, plan for and predict that Massachusetts executives wear themselves out in the early days of entrepreneurship. If this sounds like you, and you have finally gotten your business up and running, all you want to think about is enjoying the transition into successful ownership. But there’s something else you
When preparing a business succession plan, you should keep in mind the various ways that passing your Massachusetts business from one set of owners to another may go wrong. For instance, you could plan to hand off your company to another set of owners, but may want to incorporate a way for your family members in the future to buy
Leaving your lifeblood in the hands of someone else is rarely easy, but the more time and energy you spend on your Massachusetts business succession plan, the smoother you can expect the process to go. At Kajko, Wiseman & Colasanti, LLP, we have a firm understanding of the elements commonly found in a strong business succession plan, and we have
Technology has created many wonderful opportunities for business owners. With a few hundred dollars, you can create an online store and start running your business from your laptop. You can also respond to customer inquiries wherever you are and fulfill orders while you sit on your couch. However, the ease of setting up shop also means your competition has increased.
A part of business succession planning is to think about who should take over your Massachusetts business in the event you pass away or are no longer able to run the company. It seems natural to consider your son or daughter to become your successor. For some business owners, however, the decision is not so clear cut. There are several questions
If a consumer accuses your business of violating the Consumer Protection Law, your company may face serious repercussions. Massachusetts law may inflict punishments on your business and its stockholders that may halt your company’s success. It is essential, if your business finds itself involved in a lawsuit that claims it violates the Consumer Protection Law, that you hire an experienced
As the owner of a Massachusetts family business, you may find that your work offers many benefits. You may, too, have plans to leave your business in the hands of a trusted family member or close confidante once you are no longer able to run it yourself, but you may be unsure about what, exactly, the process of doing so
Business owners could transfer ownership of sole proprietorships in Massachusetts via a sale of the business assets. This type of sale, like almost any other, would require some planning to minimize tax burden. After some analysis, planners might discover that a conversion, such as incorporation, is advantageous from a financial perspective. There are several cases in which a succession plan might
Although it may be difficult for Massachusetts business owners to plan ahead for business succession, experts say it is a good idea. Proprietors may find themselves resistant to the idea, believing that because retirement is several decades away, they can put off the inevitable. The American Bar Association defines business succession in a way that pushes back, framing the process as similar
If you are a Massachusetts small business owner and you want see your business outlive you, there are certain steps you can take to streamline the business succession process and ensure that your desires come to fruition. Though business succession planning can prove relatively complex, you may find that protecting your life’s work is well worth the time and effort.
Getting a business started is hard enough. There’s so much to think about, plan for and predict that Massachusetts executives wear themselves out in the early days of entrepreneurship. If this sounds like you, and you have finally gotten your business up and running, all you want to think about is enjoying the transition into successful ownership. But there’s something else you
