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September 2018 Archives

What to know about purchasing a company

Prospective business owners in North Carolina and throughout the country have the ability to either start a company from scratch or buy an existing organization. However, it is important that an individual conduct research into a company prior to making an offer to purchase it. For instance, it is important to know why the owner wants to sell it. Typically, an owner isn't going to sell a profitable business unless there is a compelling reason to do so.

Regulations urged to reduce truck accidents

Large truck accidents are a growing concern for drivers in North Carolina and across the country. However, as the risk of these accidents continues to increase, many people are calling for greater technological solutions to the dangers posed by commercial trucks. In 2016, over 4,300 people were killed in accidents involving semis and other large trucks. This marks a 28 percent increase over the death toll in 2009, according to reports. Despite the growing risk of fatalities and serious injuries, these types of trucks are not required to include crash-avoidance technologies.

Planning for success when buying a business

When businesses in North Carolina plan mergers and acquisitions, they want to make the most of the potential profits that could derive from a deal. However, a large number of these projects, between 70 and 80 percent, fail to live up to the hopes that business owners have for their profitability. There are a number of factors that can contribute to a disappointing outcome in a business deal. In some cases, the acquiring owner or company may not have known all of the weaknesses of the firm it bought; however, in most cases, the issue is with a lack of planning rather than an inherent flaw.

Inspection blitz puts 12k-plus buses and trucks out of service

Since buses and trucks are among the largest vehicles commonly on the road in North Carolina and many other states, it's understandable for extra efforts to be made to ensure that such vehicles are properly maintained. This is why the Commercial Vehicle Safety Alliance performs annual random inspections, the most recent of which resulted in more than 12,000 trucks and buses and nearly 3,000 drivers being placed out of commission. During a three-day period, more than 67,000 inspections were conducted, with most of them being level I inspections.

FMCSA proposes changes to HOS rules for truckers

The Federal Motor Carrier Safety Administration, as truckers in North Carolina know, is the agency that sets up rules regulating the trucking industry. Among its most important rules are the hours-of-service rules. However, the FMCSA announced in August 2018 that it was considering several revisions to the HOS rules, laid out below. It is seeking input on the proposed revisions until September 24.

What to consider before becoming a franchisee

North Carolina residents and others may believe that buying a franchise is easier than starting a business from scratch. While that may be true for some, a franchise owner still needs to work hard to build his or her location into a profitable one. Generally speaking, a person who buys a franchise is responsible for hiring and firing workers and providing training. He or she is also typically responsible for paying rent and making sure that the building stays in good condition.

Selling a family business to an outside buyer

Many family business owners in North Carolina have dreams of handing off the reigns to future generations. For times when a clear successor who happens to be a relative isn't available, however, owners of family businesses may explore options with outside buyers. Successfully completing this process can present some challenges. According to the Family Business Institute, failing to take outside considerations into account and technical missteps are among the most common issues that may complicate family business ownership transfers.

North Carolina man charged after fatal accident

A North Carolina man has been charged with three counts of misdemeanor death by motor vehicle in connection with a fiery crash in Johnston County that claimed the lives of three people on the afternoon of Aug. 29. A North Carolina Highway Patrol representative said that felony charges were not filed against the man because he was not impaired by drugs or alcohol at the time of the crash and did not attempt to flee the scene. The accident took place on Interstate 40 near mile marker 319.

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September 2018 Archives | Blog