Britton Law, P.A.
It’s business and it’s personal call: 910-401-3356 ~or~ 888-811-9738 Representing the injured and local businesses since 1992

April 2017 Archives

Using a ROBS to fund a business

North Carolina residents who are interested in buying a business may be unaware that they can use retirement funds to do so. The Rollover for Business Startups program allows a person to use money from a traditional retirement account, a 401(k) or an IRA to fund a business. However, there are disadvantages, and the risk of losing retirement savings is one of them.

Getting the highest sale price for a North Carolina business

Many people start businesses with the goal of eventually selling them so that they can retire early. To get the most benefit from a sale, owners should ensure that their company is as valuable as possible to interested parties.

The steps in buying a business

Some North Carolina entrepreneurs might decide that they would rather purchase a business than start one on their own. Their first step should be to consider what kind of business they would like to have. They should take into account location, lifestyle, size and industry. Once they have a clearer picture in mind, they can begin researching the type of business they are interested in. They may want to begin with immediate contacts, such as friends and people they have worked with, and expand their networking from that point. The internet should be used with caution since while there are some legitimate sites, there are also a number of scams.

What to consider before selling a business in North Carolina

Many people start a business with an intent to eventually sell it for a profit. The goal in these cases is usually to collect enough money from the sale to retire. However, some people may also decide to sell a business because they no longer want to be in charge of running it. Whatever the reason for a sale, people should be sure that they are ready to make a sale before listing their business.

Federal data shows alarming increase in fatal truck accidents

North Carolina truck drivers may be alarmed to learn that the year-over-year number of large trucks in fatal crashes around the country increased by 8 percent in 2015 according to figures released by the Federal Motor Carrier Safety Administration. The data reveals that 4,050 trucks weighing more than 10,000 pounds were involved in 3,598 fatal accidents in 2015. Increases were observed in both the total number of fatal crashes and the number of deadly accidents per 100 million miles traveled by large trucks and buses.

Selling a business in North Carolina

When North Carolina entrepreneurs launch a new venture, they may plan on selling it one day. This is something many people opt to do especially if they intend to use the money from the sale of the business to retire. Some experts recommend considering who potential buyers might be from day one to base the direction of a business on the preferences of the company or person that might be a prospective purchaser.

  • Super-Lawyers
  • AV - Peer Review Rated
  • The American Trial Lawyers Association - Top 100 Trial Lawyers
Send us an Email. We’ll Listen.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

News & Media