"I have not failed. I've just found 10,000 ways that won't work." That statement has been attributed to Thomas Edison, the inventor of the incandescent light bulb. The same could be said for business formation here in Georgia or anywhere else. Hopefully, it will not take 10,000 tries, but there is no reason to give up on starting a business just because of a past failure.
Up until last year, National Dairy Products LLC and Dairy Smart Inc. had a working relationship with Trader Joe's, a company with which some Georgia consumers may be familiar. The specialty grocer allegedly broke its contracts with the two companies. This was the impetus for the breach of contract lawsuit the two companies commenced against Trader Joe's.
It may be no secret to Georgia entrepreneurs that small businesses -- defined as those having no more than 499 employees -- took a substantial hit during the recession. Estimates indicate that, by 2011, the number of small businesses shrunk by more than 337,000 than those that existed prior to the recession. For those contemplating business formation post-recession, there are some lessons to be learned.
When two parties enter into a contract, each party provides the other with some sort of consideration. That consideration can consist of goods, money or services. When one party fails to provide to the other party what was promised, a contract dispute can erupt and possibly even end up in court. This is a possibility with a contract between the city of Atlanta and the Atlanta Public Schools.