Buying a Struggling Business? What You Need to Know—and Do Differently to Make It Work
The idea of buying a struggling business can feel like standing at the edge of a cliff, trying to judge if the winds will carry you or crush you. It’s not about fixing something broken just for the thrill—it's about inheriting a real mess and turning it into something living, moving, and viable again. The dream? A turnaround that works. The risk? Everything. Here's what you should actually consider before you sign the papers—and how to recalibrate that business for today’s unpredictable market.Know What
FinCEN's BOI Reporting Deadline: Chicago-Naperville-Joliet Businesses Must File by 01/01/2025 to Avoid $500 Daily Fines
The Corporate Transparency Act (CTA) requires many U.S. businesses to submit Beneficial Ownership Information (BOI) to FinCEN, aiming to curb financial crimes like tax evasion and money laundering. As of today, November 27, 2024, Chicago-Naperville-Joliet business owners have 35 calendar days (or 25 business days) left to file their Beneficial Ownership Information (BOI) report with FinCEN—don’t wait, or you could face fines of $500 per day! Action Items for Businesses1. Determine if Your Business
Reviving a Failing Business: Strategic Moves for a Successful Turnaround
Taking charge of a struggling business is both challenging and rewarding. The stakes are significant, but the potential gains are immense for those who can effectively steer the company toward recovery. It requires evaluating the workforce, revamping strategies, ensuring compliance, and making data-driven decisions. With the right approach, a failing business can be transformed into a thriving success. This article explores the key considerations and strategies essential for revitalizing a struggling
