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McBrayer Blogs

Showing 9 posts tagged entrepreneurs.

Five Reasons to Consult an Attorney for Your Small Business

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Starting a small business can be difficult. It requires a tremendous amount of passion and dedication, as well as some assistance from professionals such as accountants, insurance agents and others. While you may not need an attorney in the same measure, consulting one at the outset of the business and periodically throughout can get you off to a good start and keep you from falling into common legal traps. Here are five reasons you should consult with an attorney that will greatly benefit your small business. More >

The Office of Entrepreneurship Is Thriving In Its First Year - Can It Help You?

Just over a year ago, on July 22, 2013, Governor Beshear announced the creation of the Office of Entrepreneurship ("the Office") within the Cabinet's Department for Business Development. Since its inception, the overall goal of the Office has been to develop an entrepreneurial climate for new talent in Kentucky; provide guidance and support to start-up operations; assist existing small businesses with growth opportunities; and create a pipeline of business activity that can be streamlined with the traditional growth opportunities the Cabinet already offers. More >

Beshear Launches Kentucky Angel Investors Network

Kentucky entrepreneurs, rejoice! Governor Beshear just announced the creation of the Kentucky Angel Investors Network, a virtual network that links companies pursuing funding with would-be investors from across the state. Those seeking funding can pitch their presentation to potential investors via monthly online meetings through the network. The idea is simple: angel investors provide money to your company in exchange for a percentage of its equity. More >

Did You Notify the IRS When Your Business Moved?

If your business or corporation has changed addresses in the past few years, are you certain the IRS was notified about your new address? If you’re not certain, you should check, or you could find yourself in an awkward situation if you’re ever involved in an IRS tax controversy. As a recent ruling by the U.S. Tax Court underscores, you could lose your right to challenge a federal tax lien if you missed the notification when it was misaddressed. More >

Important Considerations for Buying a Franchise

Operating a franchised business can be a profitable venture. Likewise, it can be a recipe for disaster. The distinguishing factors for success include how well an individual researches the franchise and his dedication to the business. More >

Excitement in Biotech Industry Brings Wave of IPOs, Merger Offers

Large pharmaceutical companies, in the market for profitable new drugs to replace revenue streams from top drugs with expiring patents, are looking to smaller biotech companies for innovative products. That demand, along with a simplified Food and Drug Administration approval process for therapies for important unmet medical needs, has brought a wave of proposed and actual acquisitions of venture capital-backed biotech startups in just the first half of this fiscal year. More >

A To-Do List for Entrepreneurs

I think it was some high school teacher of mine that used to say, "Failing to plan is planning to fail." Of course, back then, those words fell on the deaf ears of a teenager. Only now, after many years as a corporate attorney, have I found myself repeating the statement myself to clients. Starting a business is not a "fly by the seat of your pants" venture. That is, at least if the business is intended to be a successful one. There are some common steps that every entrepreneur must take to get a business up and running. While not fully inclusive, the following checklist is a good place to start. More >

Will US Corporate Taxation Drive Startups to Incorporate Abroad?

The recent revelations that corporate giants such as Apple, Microsoft and Hewlett-Packard have been successful at using certain federal tax regulations to pay extremely low corporate income taxes have brought up a number of questions about the impact of U.S. tax policy on multi-national businesses. More >

Key Man Life Insurance & Purchasing a Member's Interest

Sometimes entrepreneurs get so caught up in the day-to-day operations of their business that they forget to look ahead to the "ifs" that the future may hold. One important "if" that everyone business owner should consider is, "What would happen to the business if one of the owners or a key employee should suddenly die?" Failure to properly plan for the death of an owner or key employee can lead to unintended consequences for the business. For example, the Company could be faced with liquidity issues if it is forced to buy out the interest of a deceased shareholder with a lump-sum payment. Another unintended consequence is the possibility that the deceased owner's spouse could become your business partner if there are no restrictions on the transfer of ownership interests in place. More >

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