The COVID-19 pandemic has had some government contractors at a standstill and uncertain of what their next move should be. The current unprecedented market has imposed new challenges for which the federal government has struggled to provide defined solutions and guidelines. Prior national crises and federal government shutdowns have provided government contractors with tools and [..]
After evaluating options, many businesses will make the tough decision to close down due to the negative effects of COVID-19. Before making this decision, business owners should consider if they should file for bankruptcy, or simply dissolve the business. They may also consider maximizing the value of their business by selling it. If these are [..]
As businesses prepare to reopen their doors, they must consider the implications brought by a fickle, and uncertain economy. Before making the decision to reopen your physical locations, consider the approach of other businesses in your industry. What has changed in the local, state, or federal laws due to the novel coronavirus (COVID-19)? How has [..]
Last month we discussed some basics of government contracts, including contract types. This month we will explore the topic further looking specifically at negotiating contracts with the government (federal and state). Like large commercial entities, the government definitely appears to have the upper hand. For many small businesses that translates into a reluctance to fully [..]
The Esquire’s Letter So you have a useful good or important service that the government – local, state, or federal – is buying and you want the government as a customer. And why wouldn’t you, the federal government spends over $400 billion a year with federal contractors; states like Maryland spend nearly $8 billion a [..]
On January 20th we will have a new President. I will personally mourn the absence of the Obama family at 1600 Pennsylvania Ave, but at noon on 1/20/17 the guard changes. How will this guard change effect your small business? Many are unsure of what to expect because Trump did not offer up a plethora of [..]
Funding, credit, cash flow, and access to capital. Most business owners, no matter what stage of business they may be in, have and will spend countless hours pondering the money question. For good reason, many business owners, especially those helmed by women, count a lack of access to capital as their number one hurdle to growth [..]
April is home to two important dates, my birthday, and tax day which traditionally falls on my birthday (4/15). While my birthday is a day of celebration, as a small business owner dealing with taxes is one of the most undesirable parts of business. Many of us come from a 9-to-5 where taxes are straightforward [..]
We’ve all heard the expression “It’s Greek to me!”- the old saying that people use when they don’t have a full (and sometimes even partial) understanding of a certain concept or thing. I often hear this sentiment when it comes to understanding the meanings of certain contract terms and phrases. Like this one: “Upon such [..]
The Esquire’s Letter Securing enough financing to start a business is often the main concern of many small business owners. Banks are often unwilling to take the risk and lend to a new or relatively new small business. For many small businesses and startups crowdfunding has filled the financing void. Crowdfunding involves the solicitation of funds [..]