What does 2025 hold for Long Island businesses?
Leo K. Barnes, Jr. of Barnes & Barnes P.C. was among several prominent business leaders recently invited to share their new year’s predictions with the Long Island Business News. Among his expectations, an improving economy accompanied by an uptick in business litigation.
“With likely economic improvement bringing the breathing room and financial means to “clean house,” we expect businesses (especially closely-held entities) to put a magnifying glass on the profitability of co-owners, as well as any wrongful conduct which might have occurred during—or exacerbated—the lean times,” Leo explained. “As businesses look to replace less-than-ideal personnel, or even where partners that were economically bound together look to get out, litigation almost inevitably follows.”
Read more insights from Leo and check out the predictions from other top Long Island business leaders here.
