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Starting a new business this year? Whether you're looking to start your own business in retail, business services, or any other industries, follow the checklist below to ensure your business is off on a flying start for long term success and profitability. Setting up Your Business Register business name and company: Depending on the country you're in, it's generally essential to register your newly formed business name and company. This is particularly important to ensure your business name doesn't already exist. Register your domain name: Whether your new business is a retail shop or offer business services, a website is key to acquiring new clients/customers online. Whilst developing a website can take at least 3 weeks, you can register a relevant domain name as quickly as possible. The key for an effective domain name is to keep it short and relevant. Register for taxation purposes Business identity: Logo, business cards, letterhead/fax/invoice templates - Personal...

Over the past several months, I have attended several presentations, forums and discussions centered around the idea of sustainable business practice. And although I have only just begun to get some sort of a grasp of what the industry of sustainability fully encompasses, I have come to one very important conclusion. If you are a business owner, and you haven't already started to get a grip on the issues surrounding sustainability, you are in serious danger of falling victim to what I've called the eighth reason the bank won't back your business. So what do you do about it? Is it even a problem that you'll have to worry about in the next couple of years? Is it really worth it to "go green"? Let's look at a couple of aspects of this massive issue. Sustainability - What is it? The term in all its modern day complexity defies dictionary definition. There are numerous factors included under the banner of sustainability. Climate change, water, energy, air qua...

You are thinking about selling your business. You may have uncertainty, angst, worries, trepidation, fear, unknowns, and sleeplessness nights. I believe you are not alone. My approach as a business broker in Florida is from a perspective of a former long term business owner. I truly feel some of the feelings I experienced as a business owner are very similar or the same of the business owners I work with as a business broker. While at this stage of my professional life I am "sitting on the other side of the desk" I feel I do understand the concerns, fears, thoughts of the person on the other side of the desk. There are many qualified experienced business brokers that are not former business owners and these quality brokers bring various valuable perspectives and experiences that benefit their clients. My choice to pursue my "2nd career" as a business broker comes from my recognition as a business owner of the value a business broker can bring. If I sell my business...

Selling a privately held business is often romanticized as face-to-face negotiations over business valuations and purchase price. Whether small or large, business transactions can be extremely complex and require a great deal of work behind the scenes. As the size and/or complexity of a transaction increases, the need for innovative structuring options also increases. Deal structure, financing, and tax management must be a proactive process that is addressed at an early stage. In many cases the Seller and Buyer often place all of the focus on the transaction price at the expense of the 'net results' of a business transaction. By carefully negotiating the terms and structure of the transaction, a business seller could walk away with a deal that provides a significantly larger economic benefit than a transaction that provides 100% of the proceeds at closing. For asset sale transactions, the 'allocation of purchase price' can become another area of negotiation after the pr...