As we approach the end of the school year, school bus operators are already planning work that must be done over the summer months. For most operators, the summer months are the best time of the year to review and revise employee handbooks, as well as other employer policies and procedures. One component that should not be overlooked during this review period is language regarding the company’s drug and alcohol policy (or policies).
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“Working Capital” is an important part of business buy/sell transactions, but it is not a term commonly used or known by most business owners. Working capital is the invisible asset in every business. Basically, it is the ready cash on hand needed for day to day operations. Read further to understand how it is calculated for a buy/sell transaction, and how it impacts the value of the deal.
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A family business is more than just a company; it’s a legacy, or maybe it’s a retirement asset. Yet, without a thoughtful and strategic succession plan, that legacy or that retirement plan is at risk. Statistics show that many family businesses fail to survive past the second generation, some don’t even make it that far. Most often the culprit is lack of formal succession planning. The good news is that a structured approach can ensure a smooth handover, preserve family harmony, and set the b...
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