Ohio's economy suffered through the last decade, as the period known as the Great Recession took hold of the assets and investments of working-class Americans. The rate of foreclosures on homes and layoffs in different industries left many Buckeyes less able to maintain their independence.
Just like any other type of business, running a construction company is difficult. You have to pay attention to financial factors, interactions with clients, relationships with vendors and suppliers, and the quality of work provided. You may easily feel overwhelmed at times due to the number of responsibilities with which you must contend as a construction company owner.
When starting a business, it's important to carefully consider exactly what type of business you want to run. One of the more popular options these days is the limited liability company (LLC).
If you are a business owner in the state of Ohio, it is important that you equip yourself with an understanding of the law on certain issues. One of the issues that you should have a good understanding of is the law regarding breach of contract.
You've outgrown your Cincinnati facility and need a new place to conduct your business. There's a lot to consider beyond size and location, though. Think about your lease.
You run a small business in Ohio, and things are going well. You can make payroll for your few employees, keep the inventory stocked and pay yourself too. Friends have recommended you should incorporate your business, but why? Things are good.