The number of part-time jobs in the United States has generally increased over the past few decades. As of June 2022, there were approximately 25 million part-time workers. Although some part-time employees would prefer a full-time position, many people choose to work fewer than 40 hours per week. Employing part-timers can provide financial and operational  Continue Reading »

The balance sheet — a company’s assets and liabilities — is a logical starting point for valuing certain types of businesses. The cost approach focuses on this part of a company’s financial statements. Here’s an overview to help you understand this valuation technique. How Does It Work? When valuation professionals apply the cost approach, they  Continue Reading »

In today’s tight labor market, small businesses — including restaurants, delivery services, retail stores, and manufacturers — struggle to hire and retain top-quality staff. The conditions are likely to worsen in many sectors as demand ramps up during the summer months. To be competitive with other employers, you’ll need to be proactive in identifying candidates  Continue Reading »

How would you feel about taking a cross-country road trip without knowing the amount of gas in your tank, engine temperature, or oil pressure? That’s why you have an instrument panel on your vehicle’s dashboard. Your business can have a dashboard, too, that features critical performance indicators (KPIs). However, if they’re too complicated to create  Continue Reading »

A price increase is sometimes unavoidable — and now might be one of those times as many businesses are dealing with cost increases, supply chain bottlenecks, and labor shortages. The key to implementing a price hike with minimal loss of customers is timing. It’s hard to be the first one in your industry to raise  Continue Reading »

Special purpose acquisition companies (SPACs) provide an alternate route for start-ups to access public markets instead of initial public offerings (IPOs). Roughly 200 SPACs debuted in 2020, drumming up close to $64 billion in funds. In 2020, there was as much capital raised through SPAC offerings as in the prior 10 years. That momentum has  Continue Reading »

As COVID cases spike to record-setting levels here in Maine and across the country, mass immunization likely months away and talks of financial relief still a work-in-progress at the federal level, many businesses in the state may be facing challenging times and difficult choices — including laying off employees. If your business finds itself in  Continue Reading »

The COVID-19 pandemic has impacted nearly every facet of life — including our relationships. Some reports indicated the stress of the crisis, combined with people’s close and constant contact with their spouse might be to blame for some recent divorces. A divorce is a stressful and complicated issue. The emotional toll it takes can oftentimes  Continue Reading »

The IRS compiles and shares a list of common tax scams each year. This year, with the COVID-19 pandemic complicating tax matters in numerous ways, scammers are becoming more aggressive and sophisticated in their methods. Here are some of the scams you should look out for in 2020. Phishing Phishing is a practice that’s been  Continue Reading »

In about a month, on July 1st, the United States-Mexico-Canada Agreement (USMCA) will take effect. This new, far-reaching trade agreement updates many of the provisions of the North American Free Trade Agreement (NAFTA), which has been in place now for 26 years. While much of the conversation around the USMCA has been around its impact  Continue Reading »