Starting a family business or passing down an existing business to children is a dream many Ohio residents share. At times, however, you and your family may disagree about how a business should be run. When these types of disputes arise, it is important to handle them appropriately and effectively.
How do you manage business success? How do you make sure you can keep meeting your financial goals and insure your employees' future? Many businesses look to expand by acquiring other companies to diversify their services and reducing competition. If you are considering this approach for your business, think about the legal requirements of buying a business.
Cincinnati City Council passed its new Salary Equity Ordinance on March 13 with a vote of 6-2. It's set to go into effect in March of 2020. Once it does, all employers will be prohibited from asking prospective employees for a salary history when they respond to job ads, on applications and during interviews.
In recent years, many entrepreneurs have chosen to offer their talents to others on a freelance basis as opposed to holding a traditional role with just one company. Consultants who do this should remember that by taking on work on a project basis, they're not anyone's employee. Protections extended to a company's workers don't cover them. This is why it's important that they have a consulting agreement in place with each client.
As you grew up, you may have known that you did not want to sit around helping others achieve their dreams while yours sat by the wayside. As a result, now that you are an adult, you want to become the entrepreneur you always wanted to be and set yourself up to achieve your career dreams.
One of the most difficult things to do as a business owner is to make a decision as to what type of entity you want to incorporate as. Setting up a limited liability company (LLC) is the go-to choice for many entrepreneurs. They appreciate how easy it is to set one up, how it provides them with built-in liability protection and the tax benefits it affords.