According to CPApowered.org, as much as 70% of family-owned businesses will not survive a transition to the next generation (SOURCE IN MINUTE ONE OF VIDEO). Considering that small and mid-sized businesses are the backbone of the American economy, that number is quite staggering. If you are planning on getting into business, you already have a lot on your plate. Thinking about the future may not be on your mind but it should be.
Not every business owner has to be a lawyer, but you are expected to have a basic understanding of laws and how they may affect your business.…Continue reading