Employees vs. Independent contractors
There’s a distinction between employees and independent contractors. If you’re a business owner, you would usually prefer to have independent contractors rather than employees. When services are provided by a true independent contractor, you don’t have to provide reasonable notice of termination and you can’t be sued for wrongful dismissal.
But there’s no magic in labelling someone as an ‘independent […]
Obtaining financial information on a franchise
One of the things that might encourage someone to buy a franchise are expectations about earnings associated with a particular franchise location. It makes sense as a buyer that you would want to see projections for your location based upon the actual performance of other franchise locations (ideally, other stores that are similar to the […]
Buying a business- what about employees?
It is important to find out whether the business you are buying has any part time or full time employees. If so, you will become liable as a successor employer for obligations to these employees, including salary, vacation pay, unemployment insurance premiums and worker’s compensation premiums. Because of these obligations, and the difficulty of determining […]
