Statistics show that approximately 35% of Fortune 500 companies are family-controlled. At some point, these were all small start-up enterprises who kept it in the family while getting things off the ground. But at some point those mom-and-pop ventures must take on a more professional face, presenting themselves as competition for the big guys. This can be a tough …
As the summertime school vacation season approaches, young family members may be looking for a job — and having a hard time finding one. Hire them in your family business, and you get a double benefit: helping the kids gain valuable experience and garnering tax breaks for your company.
Starting and running a business is rarely a safe or simple process, and doing so with one’s spouse creates an additional layer of complexity. Whether that complexity will have a positive or negative effect depends on several factors. Here are some of the questions you need to discuss before going into business with your spouse.
As a business owner, you’re used to making tough decisions. Yet there’s one you may be putting off: How to transfer your business to new owners when you’re ready to move on.