Browsing Tag
incorporation
46 posts
Why the Beginning of the Year is the Best Time to Start a Business
The beginning of the year has always been a popular time to start a business. If you’ve been considering forming an LLC or incorporating, but are curious about the benefits of starting up in January, look no further. We’ll catch you up on the biggest reasons why entrepreneurs like forming new business entities in January....
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...
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 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...
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...
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...
3 Ways to Protect Your Freelance Business
What does the state of freelancing look like in the U.S.? According to a report from online freelance marketplace Freelancer, freelance job openings increased over 25% between the months of April through June 2020. This study revealed that, in a COVID-19 landscape as well as post-COVID landscape, the state of work and how we work...
LLC or Corporation: Which Entity is Best For My Business?
Two of the most popular entity formations for business incorporation are limited liability companies (LLCs) and corporations. Both entities provide startup owners with certain benefits, and one of the biggest benefits is limited liability. This creates a separation between the assets of the business and the owner, and protects the owner’s personal assets in the...
What Makes Pop-Up Retail a Viable Option During a Pandemic?
Traditionally, when we think of starting a business, we tend to consider a handful of options. There’s the brick-and-mortar storefront, or online visibility through e-commerce storefronts hosted on platforms like Shopify or Etsy. What about the pop-up shop? Pop-up shops are often referred to as "temporary" retail spaces. Many are seasonal storefronts that show up...
What You Need to Know About Taxes for Your E-Commerce Side Hustle
E-commerce sales have been on the rise in the U.S. over the past couple of months due to the realities of the coronavirus pandemic. According to a new SpendingPulse report from Mastercard, U.S. online retail sales jumped by 92.7 percent in May and consumers spent more than $53 billion via e-commerce in April and May....
Starting a Business with a Partner? Here’s What You Need to Know
Opportunities to start a business can happen at any time, even during a pandemic. Amid COVID-19, many individuals spent their time in quarantine practicing a side hobby or developing a new offering that meets the needs of their target audience. As more people lean into entrepreneurship, some have decided not to go it alone. Instead,...
Why a Certified B Corporation is the Secret to a Sustainable Business
In 2019, the Business Roundtable issued an open letter called “Statement on the Purpose of a Corporation,” in which 181 CEOs signed the letter, stating that they pledged to lead their companies to the benefit of all stakeholders. Who makes up all stakeholders? This group compromises more than just a corporation’s shareholders; it also includes...
5 Business Industries Thriving During the Coronavirus (and How to Start One)
In Saint Louis, Missouri, a boom in puzzle sales has enabled Puzzle Warehouse, the largest distributor of puzzles in North America, to hire 10 more employees. Rancho Gordo, an heirloom bean supplier in Napa Valley, California, is seeing a massive surge in beans sales, from canned to dry beans. The Party Source, a liquor store...
How to Become Incorporated and Why to Incorporate Your Business
On your small business journey, you will encounter many forks in the road. Choosing the right direction for your company as it matures may seem daunting at times. One of the “forks” you must consider is whether or not to move your business from its default sole proprietorship status to another type of legal entity....
How to Foreign Qualify Your Startup to Do Business in a Different State
What happens when a small business has incorporated in one state, but wants to obtain the authority to do business and conduct operations outside state lines? Generally, most small businesses must file an application to foreign qualify. A foreign qualification, if you’re unfamiliar with the term, allows businesses to legally do business in states outside...
S Corp vs. C Corp: What’s the Difference?
When you start to develop how you want your business to be set up, you have a few different options to choose from. Some will go with an LLC, while others will look into an S Corporation or C Corporation. While they only have one letter difference, how they operate aren’t exactly the same. Here’s...
5 Reasons Why You Should Form an LLC for Your New Business
Many entrepreneurs initially start a business as a sole proprietorship instead of a limited liability company (LLC). Why do they pick this entity? Forming a sole proprietorship allows entrepreneurs to exercise total control of the business. It’s also affordable to form and getting started requires little paperwork. However, the drawback is that sole proprietorships do...
Which Legal Entities are Best for Main Street Businesses?
As local storefronts prepare for Small Business Saturday tomorrow, entrepreneurs with an unincorporated business may be considering forming a legal entity. We’re in favor of this decision, especially since incorporated businesses are able to establish credibility quickly with consumers. However, many entrepreneurs may feel confused when it comes to business formation. Limited liability company or...
Ready to Become an Entrepreneur? Ask These 5 Questions First
Entrepreneurship, to an outsider looking in, may appear exciting and glamorous. Business owners get to set their own schedules, work at their own pace and follow their dreams. It’s so appealing that many envious individuals (with an idea and an entrepreneurial mindset!) may feel like it’s time to ditch their 9 to 5 jobs and...
Which Entity Should You Incorporate Your E-Commerce Business As?
You’ve drafted a detailed business plan, identified your unique selling proposition (USP), and defined your business model. It’s almost time to launch your e-commerce business! Before you open your virtual doors and begin taking orders, however, you’ll need to structure your business by incorporating or forming an LLC formation. Why do businesses, whether they are...