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Message to Queens landlords and residential property developers: Keep building, and quicken the pace. Amazon is coming.
It seemed akin to something like Powerball or a giant sweepstakes contest. And it went on for 14 long months of what one national media report calls “intense jockeying by more than 230 cities vying to take home the glittering prize.”
Owning a business requires you to make a lot of decisions that can significantly impact the success of your business. Negotiating your commercial lease may seem like an easy thing for you to accomplish on your own but should you have your attorney handle it instead?
It is beneficial to have your business attorney review all contracts, including your commercial lease. A commercial lease may include several clauses. Your lawyer will be able to review these clauses to see how they will affect your business and determine if you should agree to the terms of your lease or negotiate a different agreement.
The annual New York City DealBook business conference held last week included an illuminating session involving input from established entrepreneurs regarding commercial challenges and success. The New York Times posed a number of relevant questions to proven business players, soliciting their responses concerning the mindset and attendant strategies necessary to breed sustained company success. Following are a few of the essentially gleaned points.
First things first.
Proponents of a would-be law that would empower small business owners in New York City negotiating new lease terms with landlords object to the legislation being commonly tagged as the Commercial Rent Control bill.
Business creation is a lofty and challenging ambition for any entrepreneur, even one with considerable energy and the smarts to make an impact in a given industry.
And for company principals who seize upon an idea, commercialize it and make it profitable, there are continuous challenges - and, candidly, opportunities - that continue to emerge. There is a reason why only company owners who constantly seek to innovate and who refuse to grow comfortable with the status quo endure as business successes.
Pedigree is obviously an attractive attribute in business, but it must be accompanied by profitability. Although Sears has stood strong on that one anchor for far longer than a century, the iconic retailing giant has failed to deliver on the bottom line in recent years.
And that reality has brought it to commercial bankruptcy, with the 132-year-old chain business making a Chapter 11 filing in a New York federal bankruptcy court earlier this week.
At the established Manhattan business law firm of Rich Michaelson Magaliff, LLP, our deep legal team has "substantial experience covering many aspects of commercial law."
Our practiced client counsel and advocacy spans complex matters and related concerns relevant to a wide universe of transactional issues, leasing matters, dispute resolution, entity formation decisions, employment considerations and more. All of that is "familiar territory" to our attorneys.
Tales of the storied but troubled toy retailer Toys "R" Us' demise might prove to be premature and ultimately unfounded. The once-venerable business that filed for Chapter 11 bankruptcy liquidation last year and was widely expected to be completely shut down might still "have a shot" at resurrection in some form.
So says a Bloomberg article from earlier this week that chronicles the company's decline, takeover by lenders, Chapter 11 filing and recent plan to liquidate intellectual property assets in an auction.
There is a certain sense of accomplishment that comes with owning a business that has grown enough to need employees to get the work done. Of course, it can be difficult to give up some of the control over the process. However, when you can hire committed people to do great work, it adds an element to your success beyond your sales numbers.
As business continues to boom, you may start to wonder when you should add to your staff. Hiring people can be expensive if there isn't sustainable revenue to support it, but you also don't want to sacrifice growth because you don't have the staff to support it.
Here’s the quick and bottom-line response to the subject matter spotlighted above in today’s blog headline from a principal employed by what is reportedly the biggest small business advocacy organization in the country: It’s good.
The U.S. economy, that is.
335 Madison Avenue, 9th Floor
New York,
NY
10017
Toll Free:
877-373-6811
Phone:
646.453.7851
Fax:
212.913.9642
Map & Directions
