Why Going Out of Business is a Terrible Idea.

Far too many small business owners confuse their enterprise with themselves, thinking, “I AM the business.” While that belief may motivate the owners to get through the long days while building a business, it may also prevent them from recognizing the value of said business independent of their own, continuous work.  So, when owners consider ending their careers, their business is often be terminated … Read more

Doing Business Across State Lines (What you need to know!)

Let’s say you are doing business in South Carolina and things are going so well, you decide to do one of the following: expand to Georgia; buy a Georgia business; move your business to Georgia. STOP. Those are all terrific ideas, but before you do any of those acts with regard to Georgia or any other state … Read more

Buying a Business: Best Structure for Liability and Tax Planning

Today’s entry in the SouthernBizLaw Blawg is a video I produced for a new site called, LifeForth.com. LifeForth.com hosts free information for people transitioning from lifelong careers who are looking to do something different. So, without further delay, I give you my video on getting the most out of your purchase of a business by first … Read more

The End of Self-Certification in SBA ED/WOSB Set-Aside Program

Four years ago, the Small Business Adminstration (SBA) implemented the Women-Owned Small Business (WOSB) Federal Contracting Program with the goal of awarding 5% of every federal department’s prime contracts budget to qualifying WOSBs in industries women are underrepresented or substantially underrepresented. In 2015, the SBA claims its program finally reached the 5% goal.  But did it?  More specifically, are the WOSBs … Read more

The 6 Different Things You Can Do When You “Retire” (A Comprehensive List)

There are a lot of Baby Boomers (born 1946 to 1964), and about 50 years ago, most of them started their first grown-up jobs.  Now, the oldest of the Boomers have begun to retire with only about 33% of them still working at all and only 16% still working full-time.1 And those 76 million baby … Read more

What’s the big deal about being a certified woman-owned, minority-owned or disadvantaged business?

In short, the big deal is better opportunity.  Diversity business certifications, such as MBE and WBE, are valuable because they permit certified businesses to bid on exclusive contracts to provide goods or services to large or publicly-traded corporations and federal, state, and local governments.  Depending on the bid requirements, these contracts are otherwise unavailable for … Read more

What to Know Before Doing the Deal

Shared from PartnerSimple.com: Private equity financing is booming again after years of sitting on the sidelines. So, what are some things you should know before doing the deal? Pick your investor based on your long-term goals It is important to understand what your exit strategy is before you decide to let in private investment.  Are … Read more

Trouble Finding the Right Partner? Math Can Help

Choosing a business partner is similar to selecting the right spouse. As in marriage, successful business teams generally know they should seek good interpersonal fit and shared cultural values in their team. But business requires (and allows) a few additional things as well. Unlike most marriages, for example, business situations often require partners each to … Read more

Crowdfunding: The Next Evolution of Small Business Finance–Part III

Invest Georgia Exemption  Though the pool of potential investors who might take advantage of the Invest Georgia Exemption is limited to those domiciled within state borders, the Exemption, currently in place in Georgia, is far more permissive than the JOBS Act as an equity crowdfunding mechanism. Georgia’s power to regulate intrastate securities transactions arises from … Read more

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