Business Growth Articles and Tools

Can an LLC Own Another Business? (And Other Common Questions)

If you’ve ever thought about adding another business to your portfolio, you’ve probably wondered whether it’s possible—or even smart—to put it under the umbrella of an LLC. You’re not alone! Many entrepreneurs wrestle with questions like, “Can an LLC own another LLC?” or “Do I need a separate LLC for each business?” The truth is, there are several ways to structure multiple businesses, and each has its pros and cons. Below, we’ll walk through the most common questions business owners ask so you can see which approach may fit your situation best.

How to Structure Multiple Businesses — Legal Entities, Tax Consequences, and Best Practices

Learn how to structure multiple businesses for legal and tax efficiency. Discover key concepts and entity types today.

Is a Fractional CFO Right for Your Business?

Typically, when a business reaches approximately $10 million in revenue, it can comfortably afford a full-time CFO. Until then, hiring a Fractional CFO is a way to access high-level financial support without paying a full-time officer.

A Complete Guide to Understanding DBAs vs LLCs

When starting a business, one of the most common questions entrepreneurs face is understanding the difference between a DBA and an LLC. As one of our business advisors puts it, the difference is “an awful lot!” This comprehensive guide will help you understand these two business structures and make the best choice for your situation.

New Overtime Rule Increases the Salary Exemption Thresholds

On November 15, 2024, the U.S. Department of Labor (DOL) Fair Labor Standards Act (FLSA) overtime pay requirements requiring more employees being classified as non-exempt has been overturned.

When Does Your Website Become Your Greatest Risk?

When Does Your Website Become Your Greatest Risk?

Do you have a website? Do you have images on your website? Do you know where those images came from? Truly, do you? If you didn’t create the images yourself or you didn’t license the images from their owner, you are probably violating copyright infringement laws. It doesn’t matter if you didn’t know; innocent infringement is still infringement!

The True Cost of Debt When Growing a Business

The True Cost of Debt When Growing a Business

Many small business owners borrow money to start and grow their business. And is often the case those same business owners find themselves hitting credit limits established by banks and other lenders causing enormous growing pains for the business. Simply stated, running out of business capital when you’re growing a business is difficult at best.

How Long Does it Take to Get a Patent?

How Long Does it Take to Get a Patent?

When people come to talk with me about patenting their inventive idea, inevitably this question arises: “How long will it take to get a patent?” When I tell them it will probably take close to three years, their jaws drop in surprise. “Really, it’s going to take that long?!??!!?!” YEP.

The Advantages of Buying an Existing Business

The Advantages of Buying an Existing Business

Most individuals who consider themselves entrepreneurs believe they must start their own business to earn the title. However, what some do not realize is that the entrepreneurial spirit can be fulfilled in a variety of ways, not the least of which is purchasing an existing business. The following is a list of advantages for buying a business over starting one from scratch.

Mezzanine Debt: Growth and Acquisition Capital

Mezzanine Debt: Growth and Acquisition Capital

As markets recover post-recession, business owners are presented with growth opportunities. However, a business owner may not have access to the capital needed to execute on a growth strategy. Where does a business owner turn?

Non-Solicitation Agreement | How to Keep Your Best Employees

Non-Solicitation Agreement | How to Keep Your Best Employees

If you’ve grown a valuable business, there is no doubt your employees are a big part of your success. You also know that hiring, training, and managing a great team of productive employees is a difficult task. And keeping your best employees is yet another accomplishment! But the painful truth is your competition would be very pleased to hire away your best employees.

Three Keys to an Effective Performance Management System

Three Keys to an Effective Performance Management System

For most companies, the end of the year is a time when employees and leaders go through the annual review process. This process is designed to rate performance for the year and, if applicable, apply a merit increase. Many companies consider this their performance management system. A true performance management system however is much more involved.