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November 2019 Archives

Steps to take when starting a business

Small businesses in North Carolina and around the country provide jobs for about 120 million people, and many of these companies grew from very humble beginnings. Turning a business idea into a thriving commercial venture takes vision, determination and effort, and the first step for most entrepreneurs is assessing the resources they have available and developing a plan. Purchasing a franchise allows entrepreneurs with cash in the bank to avoid the teething pains that nascent businesses usually endure, but the most common path to self-employment in the United States is purchasing an existing commercial venture or starting from scratch.

Truck crashes pose threat on the roads

Truck accidents can cause serious damage to people in North Carolina and throughout the country. These crashes can be especially harmful to individuals in passenger vehicles due to the size and weight of large trucks. An 18-wheel truck can weigh up to 80,000 pounds, which is 20 times as much as a passenger car. There are several common causes of serious collisions involving trucks. Driver error is one such cause. Truckers, like all other drivers, make mistakes behind the wheel. Some kinds of errors are particularly dangerous for the truckers themselves. Truck drivers are limited to specific hours of service, but some face pressure to drive beyond those restrictions.

Helping autonomous vehicles navigate the road with motorcycles

It is likely that North Carolina residents may soon have the experience of sharing the road with autonomous vehicles. Right now, autonomous vehicle companies are testing their vehicles on the road. They need their autonomous driving systems to be able to safely interact with numerous things on the road. This could include bicycles, pedestrians, other passenger cars, delivery vans and trucks, stray animals and motorcycles. The data that these companies are gathering now will prepare their autopilot systems to navigate the roads in the future.

Learn about capital assets and the sale of a business

North Carolina business owners may be interested in learning about how capital gains are handled when a business is sold. Taxes on capital gains will come into play when a capital asset is sold; when a business is sold, capital assets are usually part of the sale.

What to know about selling a business

Business owners in North Carolina and throughout the country may have a financial incentive to sell their companies. While selling a company could be an emotional event, it can also help lock in profits earned throughout the years. It can also be ideal for those who are interested in doing something else with their lives. Older business owners may be interested in selling their companies and using the money to fund their retirement.

Fatal truck crashes rise, but no solution is in sight

There were 4,102 large truck crash fatalities in 2017. This represents a 28% increase from 2009. Of those fatalities, 17% were truck occupants while 68% were occupants of passenger vehicles and 14% were pedestrians, cyclists and other road users. North Carolina motorists should know that this rise in fatalities has led many safety groups to advocate the use of collision avoidance technology.

Why employers may want to consider selling to employees

A business owner who is thinking about selling their company at some point might want to consider setting up an employee stock option program (ESOP). While many small businesses have ESOPs, it may work just as well for companies with more than 100 employees. This makes it possible to spread the cost of the program among a wider pool of individuals. Furthermore, companies will generally go into debt to create the ESOP, which means that they will need to be able to handle the additional liability.

Woman killed at gender reveal party when device explodes

Residents of North Carolina may have heard about a gender reveal party in Iowa where some people accidentally created a pipe bomb, resulting in the death of a woman at the party. The incident is one of several accidents that have occurred at increasingly popular gender reveal parties resulting from attempts to make the reveal creative.

Lawsuit for Lil Peep's death could change music industry

Fans of Lil Peep in North Carolina were likely saddened to learn of the star's overdose death in 2017. The young man, whose name was Gustav ?, was a victim of the opioid epidemic who overdosed on a lethal combination of Xanax and fentanyl at the age of 21. His mother has filed a wrongful death lawsuit against his management company, and some legal experts believe that the lawsuit could change the landscape of the music industry.

How to reduce risk when buying a company

Those who are looking to buy a company in North Carolina may be apprehensive about doing so. However, there are ways to make the process a little easier. For instance, it might be a good idea to work with a business broker to find companies that are worth buying. A broker could also help a buyer structure a purchase agreement in a favorable manner.

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Britton Law, P.A.
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November 2019 Archives | Blog