Blog

Steve Saunders, CEO of Tempo Mechanical, started his business as spin off of a department of the building company for which he had been working. Though the beginning stages of business were stressful, 2001 was looking like a good year. The company had outgrown its space and was searching for a new home. Then, September 11 hit and business stopped. The week after moving into its new location, a customer refused to pay Tempo Mechanical $750,000 he owed. Despite the crisis, Saunders kept all his employees, applying increasing pressure to the builder by threatening legal action. Tempo got little pieces of what was owed and eventually recouped the entire $750,000 over a period of 10 months.
(Taken from Business Week)

Make sure you have the right legal structures in place for your business. Read more.

Please login to post a comment (or register for an account if you don't already have one)