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June 2017 Archives

What to know about selling a company

North Carolina business owners who are thinking about selling their companies are urged not to do so on their own. This is because the process of selling a business is stressful, takes time and involves a lot of paperwork. At a minimum, anyone transferring ownership of their company should have a financial, legal and tax professional on their team. It may also be a good idea to have a business broker or investment banker facilitate the sale.

Business brokers bring buyers and sellers together

North Carolina business owners have a great deal of loyalty to their enterprises. Those who establish and operate businesses in the state devote much of their time to the endeavors, and when it comes time to sell, they want to get fair value for their efforts. Selling a small business, though, is not always easy. In many cases a business broker can help facilitate the sale by bringing buyers and sellers together. There are several things a business owner should consider before hiring a business broker.

New regulations set national standards for truck driver training

Prospective truck drivers in North Carolina and around the country will receive training according to standards set by the Federal Motor Carrier Safety Administration. The new rules became effective on June 5, 2017 after a five-month delay imposed by the Trump administration. The training standards will apply to applicants who receive their commercial driver's licenses on or after Feb. 7, 2020.

Ways to finance the purchase of a business

Anyone looking to purchase a business in North Carolina will naturally have concerns about financing. On top of the upfront capital costs, there may be requirements for real estate leasing or purchase, capital improvements and costs to keep on employees and maintain inventory. There are a few typical methods of financing the acquisition. The choice of these can rely as much as on the seller as the buyer.

Annual commercial truck inspection focusing on tie-downs

North Carolina truck drivers likely know that the annual International Roadcheck inspection conducted by the Commercial Vehicle Safety Alliance is to run from June 6 to June 8. The inspections were taking place in all states as well as across Canada. Prior to the beginning of the inspection event, the CVSA released a flyer that provided tips for proper cargo securement.

Market research can be crucial for small businesses

Most major companies spend large amounts on market research and testing prior to launching new products or services, but entrepreneurs in North Carolina and around the country often devote little time and few resources to these efforts before opening their commercial ventures. Market research is basically due diligence for business ideas, and it can provide entrepreneurs with inspiration and insights as well as valuable data.

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June 2017 Archives | Blog