In recent years, the beverage industry has seen an explosion of new businesses, particularly in terms of breweries. Ohio is home to many of these breweries, whether they have been around for years or have only recently opened their doors. While consumers and brewery enthusiasts generally welcome the growth in this industry, it is evidently taking a toll on individual companies in terms of legal protections. According to a recent article on FoodDive.com titled, “Why beverage industry lawsuits are increasing,” the number of lawsuits filed in the beverage industry has been growing and will likely continue to do so in …

Merging with or acquiring another company can be a huge step for the future of any business. These decisions and negotiations are not made lightly and the stakes can be quite high.  In the best scenarios, both companies benefit from these transactions and the emerging business is successful. However, there are numerous obstacles that can put these deals and the companies involved in jeopardy.  Some of the biggest obstacles facing companies during and after a merger or an acquisition relate to the difficulty of establishing or maintaining effective business practices in the wake of big changes. For instance, many people …

Broadly speaking, a business’ primary focus is on making money and expanding itself, instead of benefiting others. A nonprofit’s goal is to help the community in some way, but often struggles to find the money to make this happen. Somewhere in between these two stereotypical extremes is the social-enterprise business. As described recently by The Cleveland Plain Dealer, social-enterprise business focuses on some social problem, but is not the same as a traditional nonprofit. They provide a product or service to raise money for the owners’ particular cause. In Ohio, a few social-enterprise businesses have gotten off the ground, including …

Starting a new business is a huge risk. There are no guarantees that your business will be a success, no matter how much blood, sweat and tears you and your partners put into it. As a consequence, it is possible to be left with a lot of debt and bills, with no profits to pay for them. Choosing the right type of business organization can help minimize your personal liability and or risks. But it is just one tool in your belt for keeping costs down while your business is in its infancy. An article in Dayton Business Journal provides …

For many people starting a business, the decision of how to organize is relatively simple. For others, the answer is less clear, especially for people who are self-employed, like consultants and freelancers. Should someone setting up a fairly simple business with no employees incorporate? It may not seem like it, but incorporating a solo business may be worth your time in the long run, as the Small Business Administration notes on its website. One advantage of forming a corporation is limiting personal liability. It may seem less likely for a consultant to be sued than a big company, but there …

The way you organize your business can have important tax implications. One structure may keep the tax bill low for some types of businesses, but are not the best strategy for others. One thing virtually every Ohio business owner has in common is a desire to pay as little in income taxes as possible. That is why many small business owners are closely following efforts in the Legislature to reform the two-year budget. A section of the budget that WOSU-FM implies was poorly written could inadvertently raise taxes on some businesses. Currently, the budget would allow small business owners to …