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BOSTON & SAN FRANCISCO--(BUSINESS WIRE)--Audax Private Equity (“Audax”), a capital partner for middle and lower middle market companies, announced today it has completed the sale of GovOS, a provider of transaction and compliance software for state and local governments to Neumo, a provider of integrated administrative, revenue enhancement and payment software. Terms of the transaction are not disclosed. Based in Austin, Texas, GovOS’s platform provides a suite of cloud-based transaction and co

Small business leaders seldom think their enterprise can operate without them. Most never consider what must be done to ensure smooth continuity when a small business founder and/or owner becomes incapacitated   it can significantly affect the business, often leading to operational disruptions, financial strain, and more. But, having a plan in place, such as designating someone to manage the business, preparing necessary documentation, and considering insurance options, should mitigate these challenges.

Impact on the Business: The incapacitation of the  founder/owner can have a devastating impact, especially without a contingency plan.

Potential consequences include:

·   Operational disruptions: If the business founder and/or owner is incapacitated due to a serious accident, illness, or other debilitating reason, critical tasks and decision making may be left undone, disrupting daily operations, leading to delays, missed deadlines, frustrated clients and lost business.

·   Financial strain: The founder’s and/or owner’s incapacitation can create financial pressure, especially if they are the primary income source.

·   Loss of institutional knowledge: The founder and/or owner often holds critical knowledge about the business, its customers, and processes that may be lost without proper documentation.

·   Employee Loss: The resulting instability of the business can cause key, valuable employees to leave and make it difficult to attract new talent.

·   Succession disputes and loss of control: If there’s no clear succession plan, internal conflicts regarding leadership can arise, further destabilizing the business.  The business could be at risk of mismanagement or even closure.

Mitigate the Risks: Plan for incapacitation.

• Succession Planning, temporary or longer-term: Identify a trusted individual (family member, employee, or trusted friend) who can step in to manage the business during the founder’s and/or owner’s absence. This person should be granted the necessary authority to make decisions, plus have access to financial and operational information.
• Legal agreements: Formalize agreements with the designated individual, outlining their responsibilities and authority, plus compensation.
• Power of attorney: Consider granting a power of attorney for business matters to ensure seamless handling of financial operations and other key aspects of the business. Without proper planning, a court may need to appoint a conservator to manage the owner’s affairs and the business, potentially leading to delays and loss of privacy.

·   Corporate documents: Regularly update corporate documents (e.g., articles of incorporation, bylaws) to reflect current business structure and ownership arrangements.

·   Buy-sell agreements: For businesses with multiple owners, a buy-sell agreement is essential to manage transitions in the event of an owner’s incapacitation or death.

·   Develop a contingency plan: Create a written plan detailing how the business will operate in the founder’s and/or owner’s absence, including who will manage daily operations, finances, and client relationships.

·   Seek financial and legal advice: Consult with a financial advisor and legal counsel to ensure the contingency plan aligns with the founder’s and/or owner’s wishes and legal requirements, plus are strategies are tailored to the specific circumstances of the business as well as its founder and/or owner.

·   Financial management: Ensure there’s a plan for managing the business’s finances and securing sufficient funds to continue operations, including payroll and debt payments.  Set aside an emergency fund to cover an increase in expenses and/or potential loss of income during incapacitation.

·   Document key processes, client information, and financial details: Record crucial business processes and procedures as well as critical client and financial information to ensure continuity of operations, even without the founder’s and/or owner’s direct involvement.

·   Communication: Establish a communication plan to inform employees, clients, and other relevant parties about the situation, provide updates on business status, manage expectations and potential impacts, and expected timeline for return of the founder and/or owner.

·   Get disability insurance: Review existing insurance policies, including disability coverage, Disability insurance can provide a portion of the owner’s income during a period of illness, which helps alleviate personal and business financial strain, offset potential financial losses.

·   Consider key-person disability insurance: This type of coverage benefits the business, safeguards the business financially, if the founder and/or owner or other key employee becomes disabled.

·   Explore federal and state assistance programs: Programs like state-mandated disability insurance programs or Social Security Disability Insurance (SSDI) may provide some financial support.

Addressing Challenges in times of uncertainty.

·   Build a support network: Don’t go it alone, and don’t hesitate to ask for help from trusted friends, family members, or professional advisors.  Develop relationships with industry peers, freelancers, and mentors who can offer assistance, encouragement, and guidance during a crisis.

·   Seek expert advice: Consult with medical professionals, as well as financial and legal advisors, for guidance and support.

·   Automate and outsource: Leverage technology to automate routine tasks and outsource non-essential business functions to free up time and resources.

·   Delegate responsibilities: Empower and train employees to take on additional responsibilities; ensure they are familiar with key processes and client interactions.

·   Prioritize health:  The founder’s and/or owner’s return to good health should be the top priority.  Returning to work too early can prolong recovery and potentially lead to further setbacks or incapacitation.  Consider seeking professional mental health support to address the emotional and psychological challenges of managing a business while incapacitated.

·   Consider the long-term: Reflect on the business’s long-term viability and make adjustments as needed.

By proactively addressing these considerations, small business founders and/or owners can better prepare for and navigate the challenges associated with unexpected incapacitation.

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BOSTON--(BUSINESS WIRE)--PureTech Founded Entity Vedanta Biosciences Announces Phase 2 Study of VE202 in Ulcerative Colitis Did Not Meet Primary Endpoint

LOS ANGELES--(BUSINESS WIRE)-- #business--The Greater San Fernando Valley Chamber of Commerce will host its 11th Annual State of the Valley Luncheon on Thursday, September 4, 2025, from 11:00 a.m. to 1:30 p.m. at the Hilton Los Angeles/Universal City. This highly anticipated event brings together business, civic, and elected leaders from across the San Fernando Valley and the greater Los Angeles region for an in-depth conversation on the most pressing policy issues affecting the local business climate and

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP reminds investors of the upcoming September 30, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Lineage, Inc. (“Lineage” or the “Company”) (NASDAQ: LINE) common stock pursuant and/or traceable to the registration statement used in connection with the Company’s July 2024 initial public offering (the “IPO”). IF YOU SUFFERED A LOSS ON YOUR LINEAGE INVESTM

WAKE FOREST, N.C.--(BUSINESS WIRE)-- #Brokers--Yokley Entitlement Services (YES), a land entitlement consulting firm offering a full suite of land project guidance services, has announced the official launch of its proprietary high-level screening report system, YES QuickCheck. The system, developed by YES founder and leading land entitlement expert Charlie Yokley, AICP, helps brokers and land owners, developers and investors swiftly and effectively decide whether a piece of land is worth pursuing prior t

NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA assigns a rating of BBB to HPS Corporate Capital Solution Fund's ("HCAP" or "the company") $150 million 5.860% senior unsecured notes due August 13, 2028 and $200 million 6.200% senior unsecured notes due August 13, 2030. The rating Outlook is Stable. The proceeds will be used for to repay indebtedness, to make investments in accordance with HCAP's investment strategy and policies and for general corporate purposes. Key Credit Considerations The rating is support

NEW ORLEANS--(BUSINESS WIRE)--A longtime New Orleans, Louisiana, resident is rebuilding nearly two decades after Hurricane Katrina damaged her home, thanks in part to a $15,000 Disaster Rebuilding Assistance (DRA) grant from the Federal Home Loan Bank of Dallas (FHLB Dallas). The DRA grant was awarded through FHLB Dallas member Gulf Coast Bank & Trust to provide a new storm-resistant roof for Gail Micken. Ms. Micken, a retiree, moved into her home in April 2005. Just a few months later, Hur

MINNEAPOLIS--(BUSINESS WIRE)--Bobby Singh has joined Dorsey & Whitney LLP as a Partner in the Firm’s Regulatory Affairs group, the international law firm announced today. Bobby joins Dorsey from the Tennessee Valley Authority (TVA), where he led the Regulatory Law Group for the Office of General Counsel and prior to TVA was Deputy General Counsel at Duke Energy Corporation, where he led all transactional, litigation, and regulatory matters for Duke Energy’s regulated wholesale business, com

SAN ANTONIO--(BUSINESS WIRE)--SWBC Mortgage Corporation's continued success of its Homeownership Expansion Loan Program (HELP™).

BLOOMFIELD HILLS, Mich. & ISELIN, N.J.--(BUSINESS WIRE)--eGrowcery and Birdzi announce a partnership aimed at integrating their technologies to deliver enhanced value for grocery retailers nationwide.

OLDWICK, N.J.--(BUSINESS WIRE)-- #insurance--AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of “aa-” (Superior) of WestGUARD Insurance Company, AmGUARD Insurance Company, EastGUARD Insurance Company, NorGUARD Insurance Company and AZGUARD Insurance Company, which operate under an intercompany pooling agreement. These companies are members of Berkshire Hathaway GUARD Insurance Companies (GUARD) and domiciled in Omaha, NE. The outlook of these Credi

NEW YORK--(BUSINESS WIRE)--Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of LifeMD, Inc. (NASDAQ: LFMD) resulting from allegations that LifeMD may have issued materially misleading business information to the investing public. So What: If you purchased LifeMD securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rose

MINNEAPOLIS--(BUSINESS WIRE)-- #EngagementSolutions--The Incentives & Recognition Insights 2025 research project offers a comprehensive global perspective on geographic markets and industry segments.

WASHINGTON--(BUSINESS WIRE)--An affiliate of the US industrial technology investor Anzu Partners has been approved by a US court to acquire EnvisionTec GmbH (“EnvisionTec”).

LAKE OSWEGO, Ore.--(BUSINESS WIRE)--Jensen Investment Management ("Jensen") today commemorates the one-year anniversary of the Jensen Quality Growth ETF (JGRW), which launched in August 2024 to provide investors with additional access to the firm’s well-established, high-conviction investment strategy. Built on more than 30 years of investment discipline, JGRW applies Jensen’s time-tested investment philosophy, rooted in an unwavering commitment to investing in quality businesses. JGRW targets

SEATTLE--(BUSINESS WIRE)-- #POS--Lumen Field, home of the Seattle Seahawks, selected MyVenue's point-of-sale solution to power its concession transactions.

NEW YORK--(BUSINESS WIRE)--Marsh, the world’s leading insurance broker and risk advisor and a business of Marsh McLennan (NYSE:MMC), today announced the launch of BrokerSafe, an exclusive insurance facility for US freight brokers seeking access to more stable and affordable freight broker auto liability coverage. Freight brokers play a vital role in the supply chain by connecting cargo owners with trucking companies, but their intermediary position exposes them to significant contingent auto li

MANCHESTER, England--(BUSINESS WIRE)--Manchester United plc (NYSE: MANU) is delighted to announce a new three-year partnership with The Coca-Cola Company, naming Coca-Cola as the club’s Official Carbonated Soft Drinks Partner in the United Kingdom and Europe. The partnership will see Coca-Cola headline across matchdays and fan experiences, offering fans the perfect refreshment at Old Trafford and beyond. The agreement includes pouring rights for Coca-Cola, Coca-Cola Zero, Diet Coke, Fanta, Fant

AUSTIN, Texas--(BUSINESS WIRE)-- #Branding--KW has appointed Sandra Howard as chief marketing officer (CMO). The appointment is effective on August 18.