Browsing Category
Select a Business Structure
123 posts
The Value of Home-Based Businesses to Economic Recovery
The challenge of America’s economic recovery, in the wake of the COVID-19 pandemic, is to spread it to every community – and especially those that have been historically excluded. The key to meeting that challenge is to appreciate the civic and economic value of an overlooked resource: home-based businesses. There are about 16 million home-based...
This Entrepreneur Shares Key Takeaways from Launching Her Direct-to-Consumer E-Commerce Brand
As a child, I watched my mother’s generation attempt direct-to-consumer business in a, shall we say, clunky fashion. They held Tupperware parties and loaded up the car with Avon deliveries. Before I knew what direct-to-consumer was, I wasn’t interested. However, technology has changed virtually every aspect of business in this day and age—and revolutionized the...
The Secrets of a Strong, Successful Cofounder Relationship
Starting a company from the ground up is an exciting time. You have an opportunity to build a business from scratch and turn it into a legacy for your descendants. If you’re an entrepreneur working with a cofounder, there are some things you can do now to ensure you have a long-term, successful relationship that...
WJR Business Beat: Franchising is Hot (Episode 382)
On today’s Business Beat, Jeff Sloan explains why franchising increases your odds of success in small business. Tune in to today’s Business Beat to learn the fastest-growing markets for franchising: Tune in to News/Talk 760 AM WJR weekday mornings at 7:11 a.m. for the WJR Business Beat. Listeners outside of the Detroit area can listen...
Minority, Women Entrepreneurs Find More Opportunity in Franchise World
Barbara Brixton believed she had two strikes against her as she planned her business career: She is a woman and she is African-American. What’s more, she knew she wanted to do something in the food service industry. Her years as a teenager waiting tables at a local diner taught her the pleasure of serving people...
Stop Doing These 4 Things if You Want Your Business to Last
We’ve all seen the statistics on how many businesses fail within the first few years of operation, and the current pandemic may accelerate that struggle for some startups. After fielding literally thousands of questions from small business owners during the past few months at Nav, we’ve identified four ways businesses are setting themselves up to...
5 ‘Boring’ Startup Responsibilities You Can’t Afford to Ignore
Starting a business is thrilling. You’re finally taking your business idea and turning it into a reality. And to do that, you have to check some exciting tasks off your list, like thinking of a name and decorating your office space. Unfortunately, not all tasks are going to be “fun” ones. There are a number...
Ready to Exit Sole Proprietor Status? Consider These 4 Entities for Incorporation
A new year means a clean slate for business. If your business is still in sole proprietor status, now is the perfect time to start thinking about incorporating as a registered entity formation. What registered entities should entrepreneurs incorporate as? Here are a few popular options for entrepreneurs planning to exit sole proprietor status. Limited...
Why You Should Buy an Online Business Instead of Building One From Scratch
Good news. You can purchase an existing online business. Whether you’re using an online marketplace, personal network or broker, there are many avenues to purchase an online business. Some business owners no longer have the passion to run a business or a new venture may lead exiting business owners to a fresh journey. Whatever the...
A 6-Step Checklist to Structure Your Business
You’ve decided to take the plunge and start your dream business. You’ve decided what your new company is going to do and have formulated your overall strategy. Now it’s time to complete a checklist of necessary tasks to set up and structure your business: Name your business You want to have a unique name that...
The Advantages, Challenges of Building a Multi-Founder Startup
Running a successful startup is ultimately a team game—irrespective of whether you follow the single or multi-founder approach. At the end of the day, success depends on how efficiently you allocate resources to solve problems. At a multi-founder startup, this is an art form. As one of the four cofounders of Capchase, we were able...
The 7 Benefits of Forming a Corporation
Whether you are just starting your business or you have already been operating as a sole proprietorship or general partnership, you may be wondering about the benefits of forming your business as a corporation. Often, business owners think that incorporation is too costly or too time-consuming, and neither is the case. The benefits entrepreneurs gain...
Forming a Partnership? Check Out These 4 Partnership Structures
Did you know there are several partnership structures you can choose from when forming a partnership Partnerships are a popular business structure to form if you plan to go into business with another person. You might choose a trusted family member, friend, colleague or even a mentor. Two or more people enter into a partnership...
The Fastest Growing Businesses You Can Start From Home in 2021
Starting a side hustle or turning a passion into a career is becoming more popular, but how can aspiring entrepreneurs ensure there is demand for their services as well as growth potential in their field? LegalZoom analyzed some of the most profitable small business ideas from the Bureau of Labor Statistics’ Occupational Outlook Handbook, and...
How Startups Can Achieve B Corp Status (and Why it’s Important)
The idea of starting and running a business for any reason other than profit may seem counterintuitive to some. But a growing number of businesses around the world are turning that idea on its head, and showing that business can — and should — do more. During 2020, a 23% growth in global submissions to become...
The Best Loans for Franchises
Opening your own franchise is a smart decision if you're an ambitious entrepreneur. Being the owner of a franchise offers the flexibility to be your own boss, yet with the security of owning an already established brand. Like with any business, though, the costs of starting up can be pretty high and you might need...
4 Factors to Consider When Choosing a Business Structure
Structuring your business is one of the first—and most important—decisions you make in your entrepreneurial journey. Your business entity impacts everything from taxes to daily operations. But if you’re just starting out, you might not know what to look for in a business structure, and that’s OK. We have your cheat sheet right here. StartupNation exclusive...
WJR Business Beat with Jeff Sloan: Consider the Legal Entity Known as a B Corp for Your New Business (Episode 201)
Are you looking to start a business with a social mission? If so, creating a B corp might be the right fit! By harnessing the power of business, B corporations use profits and growth as a means to a greater positive impact for their employees, communities and the environment. Tune in to the Business Beat...
How President Biden’s Tax Reform Could Impact Your Small Business
Information about tax changes the Biden administration is considering have recently leaked, creating some big headlines in media. “First major tax hike since 1993,” according to Bloomberg. As a fractional CFO, my first reaction to any tax reform is: what does this mean for small business? Although we do not have an official White House plan yet, I...
3 Dangers of an Unincorporated Business (and How Incorporation Can Resolve These Problems)
Often, one of the first pieces of advice an entrepreneur receives when they start a business is to incorporate or form a limited liability company (LLC). When you incorporate a business, you are able to select an entity formation that provides structure to the business. This ultimately impacts everything about the company, from how much...