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Saint Paul Estate Planning Law Blog

Could your growth eat you alive?

 

Managing growth is always a difficult proposition for most businesses. Growth is often seen as an unalloyed good, with bigger always being better. More sales, more customers, more stores should equate to more dollars in your pockets at the end of the day.

Former CEO returns to Twitter

Next to speculation over what is going on in some Hollywood marriages, watching and speculating on the outcome of the shakeouts of major corporations' boards and their upper management makes great sport. Who is up, who is down, who is in and who is out can be amusing and sometimes instructive.

Everything old is new again

 

Bloomington has become a hot area for luxury hotel development. The 21-year old Mall of America is again driving much of the growth, with the latest announcement of a new 180-room hotel that will be attached to new retail space that would also target the luxury market.

Vikings have ambitious development plans for Eagan headquarters

 

If you own a business, you know that most of the time, there is no resting on your laurels. If you are successful and have developed a product or service that is in demand, there is a good chance that someone else with think, "I can do that better." And one day, they will become your competitor and if you sit back and do not react correctly, at some point your competitor may force you out of the business.

What is a letter of intent?

 

The closed Macy's store in downtown St. Paul may finally see a new use, as the St. Paul Port Authority has announced that it has a group of prospective tenants ready to move into to the redeveloped location. The Port Authority has signed eight letters of intent with potential tenants for the building.

What form should your business take?

The excitement of turning your dream of a business into a reality is tremendous. You are your own boss, and you get to make all of the decisions, large and small. At times, during the start of phase of a business, the sheer number of decisions may seem overwhelming.

If this is your first time in a new business opportunity, even you have a great deal of practical experience in the same line of business, creating your own entity from scratch is different. While you may understand how to furnish the rooms, you also need to create the superstructure of your building in the first place.

Twin cities commercial real estate market remains hot

Commercial real estate market in the Twin Cities in 2015 has been very strong for the first half of the year and is expected to remain strong throughout the remainder of the year. The strength of the overall market, including multi-tenant commercial, office, medical industrial and even retail, suggest the doldrums of the real estate crisis are finally past.

Perhaps the most impressive statistic is the fact that in spite of 1.75 million square feet of multi-tenant projects becoming available during the first half of 2015, the vacancy rate only increased 0.6 percent. The absorption rate for all of this new square footage has been keeping pace with new construction and the article notes more real estate was absorbed in the first six months of the year than in all of 2014.

The proper balance of management

Choosing the form you business will take is important. That framework will form the superstructure that you use for support and growth of your business. It will determine how you pay your taxes and how you share your profits.

As important is developing a management structure. If your business begins small, you may have a flat management. In some cases, you may have a very vertically integrated business, where you perform all activities as both the manager and worker. However, even if you begin very small, you could grow and add employees and inevitability, managers.

Do you need help with compliance and formation issues?

When you start your business, you have a great many things to deal with, from choosing the legal form of your business, such as limited liability company (LLC), partnership or traditional corporation, to purchasing or leasing commercial real estate and dealing with various legal compliance issues.

Compliance issues may include topics such as meeting health department standards for a restaurant or ensuring all of your employees have proper financial services industry certification before they deal with your clients.