Category: Business Owner

5 Common Legal Issues That Affect Business Owners in NY State — With Lee Schwartz (Ep. 63)

5 Common Legal Issues That Affect Business Owners in NY State — With Lee Schwartz (Ep. 63)

If you own a business in New York State, there are five common legal issues you could easily run into if you’re unaware of certain state and federal laws. 

Today, Larry Heller speaks with Lee Schwartz, the managing and founding partner of Schwartz Ettenger, PLLC, a business law firm located in Melville, New York. Together, they unpack the five most common legal issues that New York State business owners face: employee-related issues, owner-to-owner issues, real-estate issues, not having proper agreements in place, and the protection of intellectual property.

In this episode, you’ll learn:

  • The disadvantages of having independent contractors instead of employees
  • Whether business owners are legally required to pay interns
  • What responsibilities are set out in shareholder agreements and operating agreements
  • A cautionary tale about what can go wrong if you don’t have a buy-sell agreement
  • The number one question that most business owners can’t answer about their lease
  • And more!

Tune in now to learn the five common legal issues business owners face so that you can avoid them! 

Resources:  Heller Wealth Management | Schwartz Ettenger PLLC

How to Make Your Business Sellable — With Albert Hakim (Ep. 43)

How to Make Your Business Sellable — With Albert Hakim (Ep. 43)

Your business is likely the largest illiquid asset you own. Have you considered how you will turn it into a liquid asset so you can use it for retirement planning?

Here to shed light on selling your business is Albert Hakim, a Certified Merger and Acquisitions Advisor with Kensington Company. Today, Albert speaks with host Larry Heller about what business owners can do to become exit-ready and how they can make their businesses attractive to buyers.

In this episode, you’ll learn:

    • Why an owner’s insistence on wearing all the hats in their business may make it unsellable

 

    • Why Albert believes it’s a sign of trouble if a business owner can’t take six months off

 

    • Examples of how business owners increased their valuation

 

    • Ideas for practices to adopt now that will make it easier to sell later on

 

    • Examples of what may attract acquirers to a certain business

 

    And more!

Tune in now to learn how to make a smooth business exit so you can retire right!

Resources: Heller Wealth Management | Kensington Company |  Albert@Kensingtoncompany.com: (516) 626-2211