Law firms face equity partnership drain when partners depart or retire. How can firms prepare for this inevitable situation?

Using legacy equipment presents a number of risks and challenges, including the potential for work stoppages or injury. Staying ahead of breakdowns by keeping detailed notes can not only help your business keep running — it may help you form a business case for funding replacements.

While partnering with your competitors may seem counterintuitive, "coopetition" may have its benefits. From creating new products and services to offloading excess space, working together can lead to fruitful partnerships between rivals.

While the effects of a trade war can be hard to predict, business owners managing their cash flow do have options. Working with trusted financial partners while watching what competitors do may provide a path for successfully navigating tariffs.

While fintech companies offer quick access to cash, many loans come with considerable processing fees and exorbitant interest rates. Don't overlook your Certified Public Accountant (CPA) and their ability to connect you with a commercial banker interested in lending at competitive rates and terms.

An increasing number of firms are turning to a trusted local financial institution to establish a term loan arrangement to help new partners fund their investment in the firm.

There are any number of payment systems out there, and using more than one can lead to administrative headaches. Rather than navigating so many platforms, stakeholders should consider switching to one option while also getting their vendors on board. Doing so should make the process easier for everyone involved, while also saving time and money.

In a bygone era, technology may not have been a top priority for small businesses. That's certainly not the case today. In the manufacturing sector, in particular, the rush to embrace and embed new manufacturing technology to break down the barriers between the physical and digital world, known as "Industry 4.0," is the latest example of how organizations are increasingly becoming more sophisticated in order to compete.

Manufacturing has been ahead of the curve with automation — at least in terms of production. But when it comes to business process automation, the industry has been slower to adapt.

How to Keep Your Cash Management Processes Optimized—and Safe.