Assume incorporating a business is too complicated for your lil ole company? Think again. There are really only six steps to incorporating, and you can do them yourself or let the professionals at CorpNet handle them.
For many new entrepreneurs, their start in running a small business comes in the form of buying a franchise. The benefits are many: you’ve got support provided by the franchisor, and you’re buying into a proven business model. Here, Joel Libava, The Franchise King, gives us the lowdown on everything you ever wanted to know about franchises.
If “form an LLC” is on your list of goals for the year, listen up. There are plenty of benefits to setting your business up as an LLC, but you’ll need to weigh those against the benefits of incorporating and decide which is best for your business.
Once you start a business, it seems like every time you turn around, you’re getting another notice to renew a license or pay a business tax. It’s hard to know what they’re all for, but keeping them straight is a necessity if you want to stay compliant with your business.
Many startups can literally be run anywhere in the world. With the cloud, both sales and support functions are virtual — a top-notch software company no longer needs a large local sales force to sell its product via tons of in-person meetings. This opens up the possibility of launching your startup anywhere from Bozeman, Mont., to Tampa, Fla. To find the best entrepreneurial hotspot these days, you might look at the top locations for venture capital investments or where the cost of living is lowest. But where’s the best place foryou to launch your startup?
Social media often blurs the lines between personal and professional, and nowhere is this truer than the very public world of Twitter. If you’re like many users, Twitter is a space to connect with friends and develop your online brand.
As a professional dancer, Richard Giorla was passionate about dance. But after sustaining a career-altering injury 10 years ago, something had to change. Richard sought a form of exercise he could do without impact and injury. When he discovered a studio that offered ballet-based exercise, he was hooked. And when the owner of the studio went bankrupt and put the studio up for sale, Richard knew fate was calling. "I saw this as an opportunity," he said.
Do you know the difference between an S Corp and a C Corp? Have you ever wondered if you should form an LLC for your business or where you should incorporate? Or maybe you’re not sure if you need to create a non-profit for your activities? These are just a few of the frequently asked questions about incorporation.
Introducing CorpNet's B.I.Z. (Business Information Zone) Free Business Compliance Monitoring Service
Money is the key to keeping your business going. You may be in an early stage, just planning or incorporating your business, but you should have thought through the issue of money, including how you're going to make it, keep it coming in, and keep that cash flow increasing over time. In the past, banks were a natural choice for loans, as most people had their own personal accounts in a bank and had relationships with the bankers there. While some of that has changed, there's still a lot to the idea of creating a relationship with your [...]
If you're ready to dive into starting a business, but can do without some of the risk you have starting one from scratch, consider a franchise. Owning a franchise takes a lot of the initial work out of the equation, as the franchisor essentially hands you a business solution you simply unpack and put to work.
If you're looking to get into the cleaning business, there's plenty of opportunity to go around. In fact, the role of professional cleaning specialist is slated to be the fastest growing occupation for the next ten years. Whether you plan to buy an existing franchise cleaning service or go out on your on, there are a few things you need to take care of before you can start accepting clients.
Many of our CorpNet readers looking to incorporate or start a business are doing this for the first time. Way before you're ready to have a full outside Board of Directors, you may need some good advice, on a regular basis, from people you look up to or value in business. An advisory board is a group of people who want to see your business succeed, and who believe in your idea. They could easily be called your "sounding board."
Warren Rutherford is the owner of The Executive Suite, President of Rutherford Advisors Inc and Director of Coaching programs at Innermetrix. An impressive CV, I'm sure you'll agree. With such a wealth of experience I knew that an interview with Warren would uncover a minefield of great information that all companies, bosses, employees and entrepreneurs would find useful. He explains how he manages his time, where he got his experience to become a coach, provides franchise and start-up advice and tells me about his blogging activities too.
If you've recently started a restaurant business, congratulations. I wish you much success. However, allow me to share a cautionary tale. Corporations serve as their own business entity, which means if your business is sued, your personal assets (home, cars, boats etc.) can't be touched. If have not incorporated your business as a corporation or an LLC, incorporate your business or form an LLC for your business today to avoid having your personal assets are at risk. It's simply not worth it to me when it's so easy to incorporate a small business.
Even if you're based outside of California, if you do business in the state, you're subject to California's tax and filing requirements.
According to a recent survey of CEOs, if you’re trying to decide which state to start or expand a business, California is rated as having the worst business climate in the U.S. due to factors such as business regulations, tax policies, cost of doing business and workforce quality. Texas was rated as the #1 state in the U.S. for doing business, due to its perceptions as a business friendly state with low costs of doing business, ease of regulations and low taxes. Regardless of which state you’re in, the most important factors in the success of your small business are your own hustle, dedication, energy, ingenuity and love for your customers and your industry. The most important business climate is inside of you. Ready to start a business and create a more profitable climate for your financial future? Talk to CorpNet for a free business consultation on how to incorporate a business. CorpNet’s free tools, advice and guidance can help you choose a business structure, form an LLC, set up an S-Corporation or other corporate entity to protect your assets and attain the corporate tax benefits and financial advantages of doing business as a corporation.
While incorporating a business may be straightforward, small business owners often make a few common mistakes that can have a significant impact on their business. Of course, the biggest mistake of all is never forming an LLC or Corporation in the first place and putting your personal assets (savings account, retirement fund) at risk. Even if you’re putting in 80-hour weeks to drum up new business, make some time this year to incorporate. You’ll be able to scale far more smoothly and securely for years to come.
Incorporating a business or forming an LLC is a relatively quick and painless process. However, while it may seem straightforward, there are some common mistakes that business owners make that can have a significant impact on their business as discussed in this blog post.
Many questions invariably arise throughout the process of incorporating or forming an LLC for your business. By far, one of the most common questions is…where? And more often than not, the question is framed as, “Should I incorporate in Delaware or Nevada?” These two states are hot choices for incorporation; and for good reason. However, as a general rule of thumb, if your corporation or LLC will have less than five shareholders or members (a condition which applies to the bulk of small businesses), it’s best to incorporate or form an LLC in the state where your business has a physical presence. In other words, unless your business has a physical office in Delaware or Nevada, it's going to be much easier and less expensive in the long run to incorporate or form an LLC in your home state.