The Recession is Receding!
Good news for business owners and those entrepreneurial souls who are looking to start their own business, either from scratch or by acquiring an existing business. It appears that the Recession—the deepest since the Great Depression—is starting to recede. Bouyed by a loan agreement between the European Union and Greece over the weekend, the Dow Jones average closed Monday above the 11,000 mark for the first time in over 1 ½ years! And the Standard & Poor's 500 index closed a point below its own milestone of 1,200. It is expected that major business will report better earnings than expected. In addition, the jobless rate (expected to increase) has remained flat. Out of this Recession, there is an emerging economy of first-time entrepreneurs. Businesses and would-be business owners in Northeast Florida are realizing that now is an opportune time to consider either expanding their current business or starting their own. For those considering such a move, the assistance of Florida business and tax lawyers could prove invaluable, as there are many factors to consider and, once a decision is make, there are multiple moving parts to a successful transaction. These range from properly pricing the acquisition (which includes the valuation of an existing business) to obtaining proper permits and licenses, insurance, and the protection of intellectual property, such as trademarks.
To speak with a Jacksonville business and tax attorney about starting up a business, please contact Wood, Atter & Wolf, P.A. to set up a consultation.
