Starting a new business may be the dream of many Richmond residents, but not everyone takes the plunge to open an entity of their very own. That is because opening a new business is complicated and somewhat risky. Though there is no way to guarantee that a new start-up business will have enduring success, there are a number of important considerations that should be seriously weighed before its owners officially open their doors for business.
The merger of two Virginia businesses occurs when one entity buys the other or they otherwise choose to combine their operations into one individual structure. Business mergers can make good business sense when merging financially benefits the parties. Unfortunately, not all business mergers involve adequate research and planning to avoid costly and sometimes devastating outcomes.
Virginia recognizes a number of different business structures that individuals may use when they set up their new entities. From the simple sole proprietorship to the more complex S-Corporation, there are a myriad of structures that individuals may assess before they select the ones that will serve their business's needs. This post will offer information on one popular form of business structure - partnerships - that readers may wish to pursue. However, readers should seek their own legal guidance before committing to a business structure as this post does not provide any legal advice.
Sometimes a business in Virginia falls on hard financial times. Even if a business slashes its budget it could find that it simply isn't making enough of a profit to meet all its liabilities. When this happens, the business may want to file for Chapter 11 bankruptcy. Any type of business, whether it is a corporation, a sole proprietorship or other type of business entity can pursue a Chapter 11 filing.
Business owners in Virginia may spend many years cultivating their enterprise. However, sometimes an opportunity to transfer ownership of the business presents itself. This is known as a "buyout." A buyout is a transaction under business law in which ownership of a business is transferred to one or more individuals or another business. An offer for a buyout may be something a business owner wishing to sell his or her business seeks, or it could come as a surprise from an interested buyer. There are a variety of types of buyouts that Virginia business owners could be presented with or seek out.
The business world in Virginia is ever-evolving. It is not unusual to hear of companies merging, especially large companies. These can be multi-million-dollar deals, so it can help to have a basic understanding of the variety of activities that fall under the umbrella of mergers and acquisitions.
A person can put all their effort into their small business, but sometimes due to market conditions, consumer demands or other unforeseen issues, a business in Virginia can repeatedly fail to turn a profit. If this goes on long enough a business owner may decide that their best option is to file for bankruptcy. In general, there are three types of business bankruptcies. It is important to understand what these are so that informed choices can be made.
Business owners have a lot of stake in their enterprise, financially and personally. They may work hard to see that their business is a success. However, they may also want to be shielded from personal liability for the debts and actions of the business. This can be done by structuring the business as either a limited liability corporation or as an S corporation.
Most employers in Virginia want to ensure they keep their premises safe for their workers. They know that workers have certain rights should they be exposed to dangerous work conditions. In fact, the Occupational Safety and Health Act, outlines the regulatory compliance measures employers must take to keep their workplaces safe for employees.
Many entrepreneurs in Virginia are struck with a fantastic idea for a business. These potential business owners may be in a hurry to set their ideas into motion. However, before the business can open its doors, a number of steps must be taken.