Experts say best succession plans prepared in advance, not out of last-minute necessity or tragedy Mylese Tucker never considered having a succession plan for her business, Nature’s Cupboard, until she served on the board of the Independent Natural Foods Retailer Association. One of the group’s first strategic goals was to implement a succession plan. “We […]
Owners usually have two choices when considering how companies will go on without them Succession planning is vital to the continuation of any business. And when there are multiple owners—partners, members, shareholders—no single document is more important than a comprehensive, up-to-date buy-sell agreement. Failure to have such an agreement adds confusion and stress at the
Companies can find wealth of free resources at public libraries A public library might be viewed by business owners and working professionals as irrelevant to their needs. They might even see them as merely a place for young families, students and retirees to borrow books or as a place to hang out. However, hidden behind
Solid succession strategies keep companies growing, prospering Pete Korellis knows his business and those who work for him will be taken care of long after he decides to step away from his company. He recognizes succession plans are vital for entrepreneurs to ensure their businesses thrive in the future. “A well-thought succession plan is one
Tax cuts bring business benefits, accounting complexities On Dec. 22, 2017, President Donald Trump signed the Tax Cuts and Jobs Act into law. Passed by the House of Representatives on Dec. 19 and then the Senate three days later, the bill makes widespread changes to the Internal Revenue Code. Since then, the nation has had
Tailoring an insurance program to minimize risk Proper insurance coverage is an essential component of the entrepreneurial process. “Your insurance agent is just as important as your attorney and accountant,” says Larry Meyers, managing partner of property casualty, Meyers Glaros Group, which has offices in Schererville and Valparaiso. “All provide professional advice to help protect
Considerations when choosing a bank Almost all of us utilize a bank’s business every day. Of the many factors that play into the choice of which bank to use, the following are a few to consider: Location Lending staff – accessibility and knowledge of your business Ancillary services – wealth management, IT and Deposit Fraud
How to make the most of an intern Hiring an intern can be an easy decision but, as any manager knows, how to best utilize one can be tricky business. “Planning is key when embarking on an internship program in order for it to be successful for the employer and the intern,” says Janet Boston,
