Many businesses in New York fail within the first three years, but those that can adapt and change may have more success than those that stick to their original business plan and structure.
Forming a business can be challenging for various reasons, and there is often a lot of uncertainty. However, there may be various ways you can not only simplify the process of business formation but benefit from a financial point of view. Sometimes taking out a loan is necessary and there may be a number of options in front of you. In this post, we will go over some of the ins and outs of asset-based lending and different considerations that may apply to you. In New York City and across the country, it is essential for those who are starting a business to be aware of all their different options.
Being a business owner in New York can be extremely rewarding, but it also comes with its challenges. If you are a brand new company, or you are a smaller business ready to grow, it may be time to hire. Typically, the options you have are to hire traditional employees or independent contractors. There are benefits to hiring either one, and it typically depends on your specific business and what work you need done.
We know how challenging it can be to launch a business and make key decisions for your company. Other business-related issues can cause a great deal of stress as well, such as mergers and acquisitions. If you are considering a merger, or have already started the process, it is very important to make sure that you prepare properly. For example, you should go over the process and get answers to any questions that you have. With such a potentially complicated transaction, it is crucial to have a solid understanding of your options before moving ahead.
For those who are preparing to launch a business, there are many decisions to make. However, it is essential to identify the most sensible type of business during the entity selection process. At Codispoti & Associates, we know how vital it is for entrepreneurs in New York to make the right decision during this crucial stage and for some, a C-corp will make the most sense. In this write-up, we will examine some of the reasons why C-corps can be so beneficial for business owners. However, it is crucial to thoroughly compare all of your options before moving forward.
You are running a thriving business in New York, but you do not want to work forever. If you were retiring from someone else's company, they could simply replace you, but as the owner, this transfer is not so straightforward. We at Codispoti & Associates, P.C., understand that part of a business's continuing success is in creating an effective succession strategy.
Whether you are starting a company or your business has been established for years, there are various business agreements you may have to sign. From employment contracts to an agreement with one of your suppliers or a shareholder agreement, you may have questions related to any number of contracts. If so, it is pivotal to understand how crucial it is to draft effective agreements. Our law office knows that these contracts can be tricky, but you need to ensure that your business is protected.
If you are planning on launching a business, such as a limited liability company, you may have many different concerns and questions about how to move forward. You may find it helpful to break down the process step by step and focus on individual aspects of the business formation process, such as the creation of an operating agreement. When putting together this contract, it is pivotal to carefully go over the details of the agreement and make sure that you have a document which will protect your business in the years to come. At Codispoti & Associates, our firm knows how crucial it is to draft these agreements properly.
Business owners in New York who are debating on the best formation for their company should know the advantages and disadvantages of a limited liability company. A popular formation, an LLC is a great choice for many business owners, but it comes with some drawbacks.
Making the decision to start your own company in New York requires dedicated talent, time and commitment to realize long-term success. For many entrepreneurs like yourself, getting past the start-up phase and onto further growth can be the most difficult part. At Codispoti & Associates. P.C., we are familiar with the unique challenges faced by business owners.