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Posts Tagged 'financial'

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The Costly Exit Mistake 76% of Business Owners Make — And How to Avoid It

Exiting a business is one of the most significant milestones in an entrepreneur’s journey, yet many owners reach this point unprepared, often paying a steep emotional and financial price. Research from the Exit Planning Institute reveals that 76% of business owners who sell their companies experience profound regret within 12 months of their exit. Even more concerning, between 70 to 80% of businesses listed for sale will never sell, according to Buy Then Build.  This underscores the importance of planning not only for the sale itself but also for the legacy, personal identity, and lifestyle changes that follow.

How Small Businesses Overcome Inflation, Cash Flow, and Workforce Challenges

Small businesses serve as the backbone of the economy, employing nearly 61.6 million Americans and driving innovation across various industries, according to the U.S. Chamber of Commerce. However, they often face economic challenges that disproportionately affect them due to their limited resources.

Business Owners: How to Avoid $591 in Fines Per Day

All small business owners need to be aware that there is a new federal law known as the Corporate Transparency Act that requires the filing of a “Beneficial Ownership Information (BOI)” form, which must be filed by January 1, 2025.

Beneficial Ownership Transparency Safeguards Businesses and Global Financial Integrity

Beneficial ownership refers to the individuals who ultimately own, control or benefit from a business or legal entity. This can occur either by exercising substantial control or by holding at least a 25% ownership stake according to GreenBurgTraurig. Unlike nominal ownership, which may only be reflected in official documents, beneficial ownership offers transparency regarding who truly benefits from or directs the entity’s activities. This distinction is crucial in preventing the misuse of legal structures for illicit purposes.

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