For many business owners and executives, filing Chapter 11 bankruptcy seems like admitting defeat. It shouldn’t be that way. The bankruptcy code exists to provide second chances. Chapter 11, which covers business reorganizations, allows struggling companies to right themselves so that they may once again be profitable engines of the nation’s economy. No provision in the...

Termination is always painful whether it’s for cause or part of a business slump. Employees who are fired or laid off often have negative feelings about the company and some could act out their anger in damaging or violent ways. Of course, you can try to ease the pain by handing out generous severance packages, outplacement...

With today’s technology, many companies and their employees have figured out that at least some work can be done from home. The idea seems an ideal solution for some work-related problems. Working from home eliminates commuting time and expense, reduces day-care problems and requires less office space. But along with the benefits come some challenges: It’s...

Top employees are like gold-medal athletes — motivated, well trained people who are willing to make personal sacrifices for the team. Certainly a competitive nature is important, but it doesn’t work well for your company unless it’s accompanied by a deep sense of loyalty and responsibility. If you want to infuse your company with a gold-medal...

They say little things mean a lot. And relatively small expenses can add up to a huge amount of money your company could be wasting. By cutting costs, you can enhance your bottom line in several ways. Here are 10 ideas: Improve cash flow.If your business is seasonal, ask your biggest vendors to let you stock...

Need a loan to start or expand your business? Nearly a decade after the financial crisis of 2008, many banks remain hesitant about loaning money to start-ups and small business owners. Stricter lending policies often make applying for financing a nerve-wracking and time-consuming process. Here are some ways to give your loan application a leg up...