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Thanksgiving Through the Years
The first Thanksgiving in Plymouth Colony which is now Massachusetts was in 1621. The last Thursday in November was declared a national day of thanksgiving by Abraham Lincoln 200 years later. In 1941 Congress made Thanksgiving an official national holiday. A day of “thanks” and “giving”.
Thanksgiving has traditionally been a day of family and friends getting together for a meal and fellowship. A day to stop and reflect on all of the blessings we share. In 1876, football was introduced as a tradition. Yale and Princeton played the first American Football game on Thanksgiving day. People were off from work and were able to go see football. It was not until 1934 that the first football game was broadcast. The Detroit Lions played the Chicago Bears at University of Detroit Stadium and a new tradition, which later became a television broadcast.
Thanksgiving has changed over the years. While many of the original traditions remain, new ones were born. Black Friday became a big tradition for many families. Getting up at early hours to go Christmas shopping for the best deals. The idea came from retailers showing losses seeing a surge in sales on discounted merchandise on Black Friday, often bringing their revenues back in the black. Retailers started opening early on Black Friday and advertising big sales. In the last decade, lit has become a Thanksgiving evening tradition with stores opening on Thanksgiving evening and staying open 24 hours. People have made their own traditions as well. Many take vacations and skip the big meal and the shopping, although most still incorporate a game of football in the plans.
Thanksgiving is celebrated in many ways. However you celebrate, remember to give “thanks” and “give” to those in need.
American Receivable is thankful for our customers and our relationships in the financial industry. We wish everyone a safe and happy holiday.
In the words of the late Erma Bombeck:
“It takes 18 hours to prepare a Thanksgiving meal,
It takes 12 minutes to eat it. Half-times are 12 minutes.
This is not a coincidence.”
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Business Partnerships: A Necessary Risk
Starting a business is an exciting venture. Sole proprietorship allows you the freedom to Implement your own ideas, business procedures, and schedules as you wish. The decisions you make will not impact anyone except you.
Working alone can be difficult when trying to jump-start a new business. Most people need help in some areas, especially with the financial aspect. Some people may be better suited for a collaborative effort. People have different strengths and weaknesses which is beneficial to the business.
There is always a risk in a partnership. You have heard the saying “nothing is forever”. Many problems can arise when working with other people. Many people go into business with someone who initially seems to have the same mind-set and goals for the business. At some point during any partnership, egos, differences in opinion or direction may cause a rift in the partnership. When the partnership dissolves, there are often claims of ownership and property that can cause disputes. Partnership agreements can eliminate legal disputes that may arise from the split. If one partner is going to keep the business, legal disputes can be expensive and result in the business being forced to close. Different skill sets, temperaments, and ideas can create diversity. However, the necessity for financial help, implementation of business procedures and creative ideas are worth the risk is you are protected.
Business partnerships are often necessary and have the potential to make the business a success. However, a partnership agreement is unquestionably critical in making sure both parties are protected in the event the partnership dissolves.