If your business is a Limited Liability Company (LLC) or corporation, you must appoint a registered agent to accept service of process for your company. Assigning an authorized registered agent is necessary for keeping your business legally compliant and maintaining good standing in the state(s) in which you operate. Your registered agent is the entity—an individual or business in the state(s) in which your company conducts business—that will receive legal documents on your behalf. Examples of the types of mail that goes to your registered agent include: Tax notices Federal and state correspondence Notice of lawsuits Summonses to [...]
What Is a fictitious name? A fictitious name is a name other than your proper legal business entity name that you formally get permission from the state (or county) to use when conducting business. You may also see a fictitious business name referred to as a “Doing Business As” (DBA), “assumed name,” or “trade name.” Throughout this post, I will use the terms “fictitious name” and “DBA” interchangeably. At CorpNet, we help business owners throughout the United States file DBAs. Fictitious names can benefit businesses of all types—from sole proprietorships to LLCs to corporations. At CorpNet, we help [...]
At some point, growing businesses need more hands on-deck. But that doesn’t necessarily mean you have to invest the money to hire full-time employees—yet. Before you hire full-time employees, there are other staffing options you can explore. Bring on Extra Help With Our Six Flexible Staffing Options 1. Family and Friends Starting a business requires long hours and time away from family and friends. You can avoid the separation issue (and create new bonds) by hiring family and friends to help run your business. Family businesses account for 64 percent of the U.S. gross domestic product and create [...]
All the pieces of your entrepreneurial dream are finally falling into place. You have a name for your business, a product or service that makes you super excited, and you’ve even started noodling designs and logos. Before you can go much further, however, you’re going to need funding. And in order to get funding, you will need to decide what type of structure is best for your business: a sole proprietorship DBA (doing business as); a C corporation or S corporation; a professional limited liability company (PLLC) or a limited liability company (LLC). Let’s take a look at [...]
Big plans come with a big price tag. As most entrepreneurs and small business owners know, there are times when the cash you have on hand can’t cover the expenses essential to growth. It’s at this point that you’re confronted with the question of funding: Do you go with an SMB lender, or do you try credit cards? The Case Against Lenders SMB lenders know that you’re in a jam and that you want your money as fast as you can get it. This is why you’ll see many lenders emphasize the amount of money you can get [...]
Sunday, April 30, 2017, marked the start of National Small Business Week. From that day through Saturday, May 6, the U.S. Small Business Administration (SBA) has organized a variety of events to celebrate small businesses and the impact they have on our national and local economies. According to the SBA National Small Business Week website, “More than half of Americans either own or work for a small business, and they create about two out of every three new jobs in the U.S. each year.” I say that’s reason to celebrate! Don’t you agree? We're celebrating at CorpNet.com by [...]
If you’re a CPA or an accountant, the transition from working for someone else to being your own boss has probably crossed your mind. When you start an accounting firm, you'll soon see that self-employment offers an opportunity to have more control over your own schedule, allowing you to better balance your professional endeavors and personal life. It also enables you to manage your firm the way you want to manage it. But where do you start? How can you start an accounting firm and make sure you are checking all the boxes for compliance? Seven Steps to [...]
As a small business owner, it’s important to which illegal job Interview questions you need to avoid asking your future hires. Laws at the federal and state level exist to protect people from being discriminated against during the hiring process. As an employer, you need to carefully formulate the questions you ask during a job interview. In our office, anyone interviewing a potential job candidate must follow a standard set of best practices for interviewing job candidates. Such practices are critical for avoiding a job discrimination lawsuit that could tear down the business success you’ve worked so hard to achieve. Top Illegal [...]
As you plan and set goals for your small business in 2017, one area to look at is financing. Will you need additional funding at some point in the New Year? If the answer is yes, how will you raise the money? Take a closer look at the two primary means of raising capital — equity financing and debt financing — and what you need to know about each. Equity Financing In equity financing, you give up a piece of your business (equity) in return for an investment of capital. Equity investors may be private investors, venture capital [...]
Ghosts, ghouls and goblins—oh my! While children clad in Halloween costumes may fear witches and zombies, many entrepreneurs are equally terrified of failure. But since failure is an inevitable part of launching and growing a small business, fear of failure could be holding you and your business back from success. Whether your business is already underway or just getting started, here are six ways to overcome your fear of failure: Go step by step. When we’re scared, it's easy for fear of failure to paralyze us and we end up doing nothing. Instead of taking an all-or-nothing approach, break [...]
Successfully married and working together in a successful business, Nellie and Philip Akalp share 5 tips on starting a business, running a business, and staying married...Happily!
Every year around Father’s Day, I reflect on the profound impact my own father had on my self-confidence and work ethic. His encouragement and the fine example he set forth have contributed to my ability to succeed in business. And every day, I see Phil—my husband and co-founder of CorpNet—encourage self-assurance within our four children, laying the foundation for their future successes. I imagine many of you have had similar life experiences. Fathers, regardless of whether or not they’re entrepreneurs themselves, influence and shape who we are as business owners. Their values, fearlessness, empathy, and other qualities have [...]
A long-term business loan is a good fit for many small business financing needs. If you’re looking for capital to invest in a new building, a big ticket purchase such as a new lathe for a manufacturing plant, or anything else for business use that will likely be depreciated over several years of useful life, a long-term loan could be the appropriate way to finance those longer-term investments in business infrastructure and equipment. Many times those investments are needed to facilitate future business growth. However, a long-term business loan may not always be the best, or even the [...]
If you are over age 50 and thinking about starting a business, you're not alone. In fact, entrepreneurs age 50 and up are one of the fastest-growing categories of small business owners, according to the Small Business Administration (SBA). At 50-plus, you've got a lifetime of work experience to draw on — not to mention the wisdom that comes with age — in launching your new business. To help ensure your startup success, follow these tips: Tap into your experience. If you're not sure what type of business to start, think back to your past work and life [...]
March has flown by and we are loving the smell of Spring in the air. We were busy this month doing what we love - forming LLCs and helping entrepreneurs incorporate their businesses! Nellie was busy yet again this month sharing tips, leading workshops and chatting on podcasts to inspire and motivate entrepreneurs to go after their dreams and start a business just like she and her husband did! Here's a recap of this month's interviews and contributed articles as well as an upcoming appearance! Want Nellie to speak at your next event or share her tips on [...]
Given that it’s Women’s History Month, what better way to celebrate than to honor female entrepreneurs who have paved the way for other women in the business world? We’re thrilled to announce that our CEO, Nellie Akalp, was recently awarded Woman Business Owner of the Year by the National Association of Women Business Owners Ventura County chapter. This honor is bestowed to one noteworthy female entrepreneur in the Ventura County area annually at the BRAVO Awards. A Deserving Winner The Ventura County chapter of NAWBO chose Nellie because of her hard work and dedication to helping business owners, [...]
A DBA is a fictitious business name, trade name, or assumed business name. This DBA, which is short for Doing Business As, is a filing lets the public know you’re the true owner of your business. Do you need a DBA for your business? You’ll need a DBA if one of the following scenarios applies to you: 1. You’re a sole proprietor or general partnership and want to conduct business using a name that’s different from your own name. For example, if Jane Doe wants to open a gift boutique called Things That Matter, she would need to [...]
Wow - February went by fast around the CorpNet offices. March is already next week and we’re busy helping entrepreneurs start a business making the year fly by already. Nellie has been busy leading us daily and sharing her expertise across blogs, podcasts, webinars and in-person events. Here is what she was up to this month. Want Nellie to speak at your next event or share her tips on your podcast? Contact her today Speaking Startup Weekend Ventura County Nellie and her husband/Business partner Phil Akalp will be speaking on starting and growing a successful business on March 11, [...]
Work/life balance. Thanks to all the hype about it, you might find yourself feeling like a bit of a failure if you’ve yet to achieve it to perfection. My advice to you: Don’t beat yourself up about it! A faraway land where forest animals sing, pumpkins turn into coaches, and where work and home life demand equal amounts of your time every day simply doesn’t exist.
Small business owners who encounter trouble securing traditional loans have an ever-increasing array of alternatives to choose from. Established banks working through the U.S. Small Business Administration offer the lowest interest rates on small business loans, but it’s tougher for entrepreneurs to obtain financing if their business is too new or too risky. Nontraditional lenders have stepped in to provide easier-to-obtain business loans for such entrepreneurs. The terms of this type of financing can vary widely, but expect to pay more for this speedier, easier option.