Business Insider says the top two issues negatively affecting these small family-operated companies are taxes and structural conflicts. Seventy percent of small companies do not make it through the handoff from one generation to next. Estate taxes...
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Benetrends Blog
How to Help Your Family Survive and Thrive as Entrepreneurs
Entrepreneurs starting a small business quickly learn their loved ones will be impacted, even if their start-up plan doesn’t roadmap the venture as a family business. Starting a small business is time and labor-intensive, sometimes emotional, and always a...
Should You Go into Business with a Life Partner?
Family businesses, or those companies that have two or more related family members at the helm, are a common denominator across the business landscape. These companies are as small as the corner grocery and as large as the global enterprise. At both levels,...
What to Discuss as a Family before You Start a New Business
If you are considering starting a small business, the implications stretch beyond the impact on your life and will also touch the lives of the people you love. Your becoming an entrepreneur affects your family in a variety of ways, even if they are not technically...
Big Changes for Retirement Plan Savings: The SECURE Act of 2019
On December 20, 2019, President Trump signed into law the most comprehensive pension reform legislation since the Pension Protection Act of 2006. As part of the budget funding bill for the remainder of the current fiscal year, the Setting Every Community Up for...
New Business Owners Ask: How Much Cash Should My Business Keep in Reserve?
If your small business has begun to make a profit, it is tempting to funnel the extra cash into your pocket. It is difficult to know how you can keep enough cash on hand to avoid small business funding, or, as an owner, to decide if it is time to finally draw an...
How Much Money Do You Need in the Bank Before Launching a Business?
For years the saying, “You have to spend money to make money,” has helped justify the debt portfolio of entrepreneurs around the globe. For most Americans, starting a small business assumes that debt is a natural part of the process. Many times, this might even be...
5 Cost-Saving Hacks for Your New Business Venture
It may sound counterintuitive, but one of the entrepreneurship tips you can glean from the countless start-ups that have come before you is to not overspend. This means not being tempted to overspend investor money or small business funding and stay within your budget...
7 Top Small Business Trends for 2020
It has been an interesting year for small business. We have seen the stock market go from the highest of highs to the lowest of lows, affecting small business funding and bottom-line profits. However, according to the latest quarterly Wells Fargo/Gallup Small...
How to Finance a Service Business
It is sometimes harder to define the deliverable when you own a service-related company. Selling tangible products is easier both to market and to finance with small business funding options. Here are some tips for small business funding for...