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May 23, 2022

In this issue:

  

  

  
  

Key Considerations on How to Sell Your Business

Nicholas M. Oertel

No matter the reason, when selling a business, it is important that the business owner and advisors understand the broader reasons for the sale to ensure that the deal is structured to achieve the seller's goals.

What are the most important steps that should be taken prior to selling a business?

1. Get the right team of advisors in place

In a business sale (or purchase), it's important to have three main advisors involved...

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   Nick Oertel

Nick Oertel

Oertel Email  Oertel Phone

  

  

  
   Filling Out Report   

Implications of the Forthcoming Corporate Transparency Act

Robert A. Hamor

The Corporate Transparency Act (CTA), signed into effect in early 2021, is set to dramatically change reporting requirements for many small and medium-sized businesses and organizations.

For the first time ever, the legislation will mandate that qualifying businesses self-report information about the people who created, own, lead or have influence over them, as well as information about the business itself. All the information will be added to a federally managed database with criminal penalties for violations...

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   Business Women Sharing Ideas   

Benefits of Women-Owned Small Business Certification 

Amanda J. Dernovshek

In an effort to educate women leaders stay up to date on the laws, regulations and other resources that may benefit them, Foster Swift business attorney Amanda Dernovshek kicked off the Legal Strategies for Women Leaders webinar series by discussing the process, requirements and benefits of Women-Owned Small Business Certification (WOSB).

In the following video, Amanda discusses:

  • What is the WOSB?
  • What are the requirements of WOSB?
  • How the certification can benefit women business owners...
  

  

  
  

Resources for Businesses on the Corporate Transparency Act

What effect will the Corporate Transparency Act (CTA) have on your organization in 2022 and beyond?

In an effort to further educate businesses and organizations on their obligations and implications regarding the CTA, our team has put together the following resource page that will be periodically updated to include additional CTA-related tools such as articles and videos to assist entities in being better prepared for the days ahead:

  

  

Lansing

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Southfield

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Grand Rapids

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Detroit

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Holland

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St Joseph

  

Foster Swift Collins & Smith, PC E-Newsletters are intended for general information for our clients and friends. This newsletter highlights specific areas of law and is not legal advice. The reader should consult an attorney to determine how this information applies to any specific situation.

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