Category Archives: Small Business Planning

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Keeping Your Small Business in Business Through a Disability

If you own a business, you know how it feels to live for that business. You also rely on it to support you and your family. So, what would happen if you suddenly became ill or injured and could no longer work? You need to think about the what-ifs.

The fact is, your loved ones may not have the skills or desire to run the business, and your co-owners may not welcome the idea of an unintended partner. Also, imagine the scenario where it is one of your co-owners who becomes permanently disabled and you’re faced with those choices.

That’s where a disability buy-sell plan comes in to play. This is an agreement among owners to buy out a co-owner’s share of the business in the event of a permanent disability. Here are four options for funding that agreement:

Celebrate Organize Your Home Office Day by Reviewing Your Business Insurance

Tell the truth—does your home office look a little untidy, cluttered, disorganized? Do you plan to get it under control as soon as you can find the time, but worry that the “time” will never come? If so, you’re not alone. According to the Bureau of Labor Statistics, 64 percent of self-employed people do at […]

Questions Small-Business Owners Should Answer Today

If I asked you to ballpark the percentage of businesses in the U.S. that are small businesses, what would you say? 25%? 50%? Maybe 75%? The answer is actually astounding: It’s 99.7%, according to the U.S. Small Business Administration. And those businesses employ over half of all private-sector employees. Here are some additional statistics that […]

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