by Royer Advisors | Dec 11, 2024 | Business Plans
Let’s say your Maine-based small business provides a service that involves servicing products that your customers own. Maybe you fix broken construction equipment, make alterations to clothing, frame customers’ art or a repair computers. You provide the service,...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, IRS Regulation
Employers can see advantages from hiring independent contractors for their Maine-based small businesses. They can be hired on a per-project basis and then let go when the project is completed. Also, independent contractors tend to be more experienced workers and...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning
Many small business owners would like to expand, in order to generate higher sales and increase profits. But before making moves to buy new equipment, expand your plant or implement a new business idea, you need to fully understand how the profit angle works. Many...
by Royer Advisors | Dec 11, 2024 | Business Plans, Debt & Financing, Financial Planning
Most lenders require the individual owner of a Maine-based small business to personally guarantee loans made to their business. This shows the owners’ commitment and helps ensure that the loan obligation is fulfilled. The problem is that the personal guarantee...
by Royer Advisors | Dec 11, 2024 | Business Plans
When signing a contract, make sure to check the “notice” clause or provision. It lays out how you and the other party will communicate during the term of the contract. It states who the notice should be sent to, how it should be sent and delivered, and...
by Royer Advisors | Dec 11, 2024 | Business Plans, Debt & Financing, Financial Planning
Receivables aren’t really useful if they aren’t turned into cash. Your Maine-based small business really needs to keep tight control of its outstanding invoices so you are fully aware of the receivables situation and can take steps to improve the turnover of those...
