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How to Get a Small Business Loan – Finance a Business – Wells Fargo

#getting a small business loan


Financing a growing business

Learn about financing options for small businesses.

Supporting both the operation and expansion of a growing small business often requires some additional financial support. Getting a small business loan or grant can help you bridge the gap when you need to make capital investments, increase your workforce, or move to a larger space. To help you decide which type of funding might be right for you, here are a few great small business-financing options:

Line of credit. Using a line of credit as working capital can make it easier for you to manage your cash flow as your income or expenses fluctuate. It allows you to borrow only the funds that you need giving you more control over the amount of interest you will accrue.

Business loans. For larger investments, it may be time for a term loan. Like a mortgage or personal loan, term loans come with fixed interest rates and monthly payments over a period of years. Unlike a line of credit, a business loan will provide you with a large sum of cash upfront. These loans can be ideal for expanding your space or funding other large investments.

Commercial loans. For established businesses that own commercial real estate, a commercial loan is another option. Like a home equity loan, a commercial loan allows you to borrow against the equity you’ve built in your business property. Depending on the value of the property and the equity you hold, this could mean more borrowing power.

Equipment loans. If you’re specifically looking for cash to fund the purchase of new equipment – including vehicles, manufacturing or production machinery, farming equipment, or other necessary equipment – then an equipment loan or leasing program may be what you need. Like business loans, equipment loans offer fixed interest rates and payment plans over a period of time.

SBA loans. Wells Fargo is the nation’s #1 provider (by dollar volume) of loans guaranteed by the US Small Business Administration – or SBA 7(a) loans. SBA 7(a) loans have longer repayment terms and lower down-payments than most conventional bank loans, and can be used for the purchase of owner-occupied real estate, business acquisition, equipment, or working capital. Wells Fargo also offers the SBA 504 program for larger, fixed asset purchases or construction.

Federal or state grants. Small business grants – money that does not need to be repaid – are limited and harder to secure than loans. State and federal business grants are funded by taxpayer dollars, and the money is awarded through a complicated legislative process. For more information on how to get a small business grant, visit www.grants.gov.

By knowing which small business financing options are available, you’ll have a better idea of where to turn when you’re ready to take your business to the next level.

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Ask a small business advisor #franchise #business #opportunities

#business advisor


Alberta Government

Ask a small business advisor

Small business advisors provide free advice to small businesses and entrepreneurs navigating provincial regulations and business support programs. Use the form or contact information below and a small business advisor will provide information, answer questions, direct you to various resources and, where possible, connect you directly with the experts who can help.


Monday to Friday, 8:30 AM to 4:30 PM (Mountain Time)

  • For your small business needs, contact a Business Advisor at The Business Link

1-844-422-7705 Toll free public number (Canada only)

  • For technical/website questions, contact the Help Desk

    Send Message

    The only information collected that is used to identify you is information you give voluntarily. When you submit a question or comment, you may be asked for your name, e-mail address, or other information. This information is only used to process and respond to your question or comment and is collected in compliance with section 33 (c) of the Freedom of Information and Protection of Privacy (FOIP) Act. This information is not disclosed except to authorized personnel who need it to answer your question.

    Ask a small business advisor

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  • How to Write a Business Proposal #small #business #investment #company

    #business proposal examples


    How to Write a Business Proposal

    Hi there! It looks like you’re new here. Find out how to land more clients with this free guide: 16 Marketing Tactics to Get More Clients .

    Photo Credits: Jomphong / FreeDigitalPhotos.net

    A business proposal is perhaps one of the most critical documents you need to learn how to write. It is what spells the difference between success and failure, whether you re a freelancer or you have a company of your own.

    In today s cut-throat business world, entrepreneurs find themselves spending hours upon hours submitting business proposals to potential clients, and not get any results. On the other hand, there are those that are like snipers, able to get the contract after just submitting one business proposal.

    So how do they do it? Well, this article will teach you show you how to do just that.

    The Basics of a Business Proposal

    Before you even go and start writing that business proposal, you must first understand what it is and learn the basics.

    A business proposal is a written document that offers a particular product or service to a potential buyer or client. There are generally two kinds of business proposals: solicited business proposals (which are submitted in response to an advertisement published by the buyer or client) and unsolicited proposals (submitted or given out to potential buyers or clients even though they are not requesting for one).

    Business Proposal vs. Business Plan

    Quite often, the terms business proposal and business plan are used interchangeably, giving you the impression that they are one and the same. But they are not.

    A business proposal is created to offer a product or service to a buyer or client. On the other hand, a business plan is a formal statement of a set of business goals and how these would be achieved. The latter is only part of what is included in a business proposal.

    3 Ps of a Winning Business Proposal

    The secret behind writing a winning business proposal and one that will just be set aside is the presence of what I call the 3 Ps: problem statement. proposed solution. and pricing information .

    Problem Statement

    A successful business proposal must be one that is able to describe to the client what their needs are in a plain and simple manner. This is extremely vital because how can you expect the client to believe that you can help them solve their problems if you don t even know are these problems?

    Here s an example of a well-written problem statement of a business proposal:

    With the presence of social media in today’s advancing world, Puffin Media Inc. hesitated to make the leap from traditional marketing to social media marketing.

    Their marketing tactics seem to be losing effectiveness and the company feels as if they are missing out on a large segment of their market. In addition, their competition has began acquiring the majority of the business in the market and have brought Puffin Media’s growing revenues to a halt.

    Proposed Solution

    The main objective of submitting a business proposal is to offer a solution to a problem faced by a prospective client. This part should be as detailed as possible, and able to address each and every need you have discovered.

    Here s an example:

    The solution that is recommended for Puffin Media Inc. is to deploy their company on all of the major social media channels; however, there is a major difference in creating social media platforms versus creating a brand you can promote on those platforms.

    A marketing campaign must be created utilizing these media channels and creating immediate engagement with your audience. In order for this to be successful, you know how to make sales. Initially, acquire some fans, followers, subscribers, and connections and invite them to join you in particular discussion or attend a specific event.

    The purpose of this is not only to promote Puffin Media Inc, but also to solicit feedback from the target audience.

    Pricing Information

    For many clients, the pricing information is what will make them decide whether they would offer you the contract or not.

    How to write this part greatly depends on the solution or solutions you included in the previous segment. If the solution proposed will only entail a short period of time, a Fee Summary will suffice. For longer projects, segment these payments to specific milestones in a Fee Schedule list.

    Things to Remember When Writing a Business Proposal

    Now that you know the essentials of a winning business proposal, it s time to go ahead and start writing, right? Well, not exactly.

    The next part is to be able to find out what to put under the 3 Ps so that you can develop a business proposal that gets their attention and awards you that contract.

    Do Your Research

    Not all clients and buyers will give you the explicit details of their wants and needs, especially if you re submitting an unsolicited business proposal. Extend your research to include the competitors of your potential client, and their customers as well. This will ensure that your business proposal will be as comprehensive and as detailed as possible.

    Put Yourself in their Shoes

    Another thing to remember when writing a business proposal is to always put yourself in the shoes of your potential clients. Doing this will help you provide information on things that they would most likely ask, such as Why should we pay you this much amount for the solutions you re offering and How can these changes benefit me?

    Why You?

    If you determined that a company or client has certain needs, chances are others would have done the same. That means that there will be others that have submitted their respective proposals to the company or client.

    That being said, it is important to make sure to highlight your talents, experience and other qualifications to convince the client why they should choose you or your company.

    Writing that Business Proposal

    When you got all of these, then you re finally able to start writing your business proposal. One of the best ways on how to write a persuasive business proposal is to use a business proposal software.

    Business proposal software programs helps you write your business proposal without having to worry about how they should be put together and the content that you need to include. These programs contain two kinds of proposal templates that you can use and re-use, depending on which one you need to write.

    In addition to the stored templates, you can create your own proposal templates through these programs based on previous proposals you ve created, making it even more convenient for you and your business.

    A Final Word…

    Although business proposals present the same information and have the same layout, it s important to take time and make each one unique. Each project is different, even if it s with the same company. Remember, a business proposal must show how you or your company can help a potential client.

    About Ruben

    Free Guide: 16 Simple Marketing Tactics
    to Get More Clients

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    10 Steps For Starting a Car Wash From The Ground Up – Tommy Car

    #car wash business


    10 Steps For Starting a Car Wash From The Ground Up

    As a 40 year veteran car wash equipment manufacturer and site developer, we’ve seen it all. We know what a daunting and potentially confusing process starting a new car wash can be. What comes first? Prospecting site locations? Securing financing? Assessing your market? How soon should you begin marketing? How long will the process take?

    While we certainly can’t cover everything you need to know to start a car wash in a single post, we can take a few words to cover what we feel are the 10 most important steps to launching your own car wash business.

    1) Location is Everything Go Scouting

    Car washes aren’t automatically successful. Great care must be taken when selecting the location on which you want to build. Our Site Model Pages have in-depth descriptions of location criteria to consider (including population, competition, street types, car counts, and more) and our site development services can help you select and approve the best locations available in your area.

    Start by driving around your target area, paying close attention to the relative traffic, types of local businesses, and anything that looks for sale. Get a feel for your potential market. You should also visit a commercial real estate MLS like Loopnet.com or many others. Be sure to take your time and never rush into a purchase.

    2) Review the Competition

    Try to get a feel for the local car washes in the area. How many customers do they have and how aggressively are they marketing? What will they do when you open your wash? Can they afford a multi-million dollar renovation to bring their wash in line with yours? Are they debt free and can they cut prices to outcompete you (with your interest payments) in the short term? Are their customers frequent users and very loyal—or are they waiting for something better?

    Entrenched local competition can be dangerous, even for Totally Tommy buildings, and selecting a location with some elbow room between you and competitors is important. But don’t worry too much about single stall automatic car washes or local fundraisers—you’ll be working in a completely different weight class.

    3) Do the Paperwork

    Find out what local city or county department handles business licenses and request an application, as well as information on local utility usage codes, insurance requirements, tax rates, and other requirements for opening a business. You will also need a Taxpayer Identification Number and you should use the U.S. Patent and Trademark Office’s trademark search tool to check your brand then register to claim it.

    Each area and city has different rules, so make sure you take the time to understand everything and keep your business in line. If you can, also get information on local sanitary sewers (for your waste water), utility prices, water usage limits, and other regulations.

    4) Planning and Approval Process

    Set up a meeting with the city planner. Show them a rendering of your concept and try to get verbal approval of the design—or a list of probable issues to address. If you have approval you can set up a formal meeting to present your plans and have them voted on at a city council meeting. With luck, your Totally Tommy building with its modern style, efficient design, and great investment potential will blow them away! Try to be friendly, optimistic, and down to earth. If the city gets on board with your project it can make the whole process move along more smoothly.

    5) Research Car Washes

    Tour as many successful car washes as possible to see what makes them tick—especially if you haven’t been in the business very long. Check out automatic car washes, partially automatic, express, detailing, and other washes to see how they differ from one another. Operations, promotions, pricing, services, demographics… Try to learn as much as you can and develop as deep a background as you can with operations, staffing policies, equipment repair, and customer management (aka, complaints ).

    To help out, our team has training available to teach you everything you need to know BEFORE you’re trying to run your wash on hot days with long lines.

    6) Operations Decisions

    Will you run your car wash independently or will you have a franchise, LLC, or S-corp? There are many models, each with pros and cons. Franchises offer support at the cost of a residual. Solo operations offer total freedom but deprive you of much-needed backup and brand awareness. How much personal involvement are you looking for? If you plan on hiring a manager instead of handling things yourself, make sure he or she has the necessary qualifications and is heavily invested in your future success.

    7) Make a Business Plan!

    Your car wash business plan (click for outline) should focus on both long term and short term operations. Use a professional service and remember that the more detailed, thorough, and researched your plan is, the better it will look to investors or your bank. Include costs (up front and overhead costs), planning for building to long-term revenue management, and marketing strategies (launch and long-term). Professional proforma companies are ready to help and our team is also standing by with years of experience to back up our advice.

    8) Get Financing

    This is likely the most challenging step, and your success here will largely depend on how well you’ve researched and prepared your business plan ahead of time. A solid revenue model can help convince investors to put up the capital for your new car wash business, so be prepared to demonstrate that you need enough funding for a truly high quality car wash facility and equipment with great return potential. You will also need a convincing resume with business and/or car wash experience, and a solid marketing plan.

    9) Build the Right Wash

    Car washes thrive when they capture the attention of the local market and are designed to make turning in, purchasing a wash, and moving through the tunnel as quick and easy as possible. The Totally Tommy building is the best way to do just this, drawing huge numbers of passing customers with a great looking building, perfected layouts, and a full and fast service menu. Proven in scenarios around the country, every component of this facility design has been carefully thought out to create a single, cohesive investment that pays off. From our towers to our pay system, deceleration lanes, glass walls, stainless steel equipment, and clear roof, everything is designed to project sophistication, professionalism, and value. So why waste money reinventing the wheel, and why risk building a second-best wash when a Totally Tommy wash is waiting for you?

    10) Market your New Business

    Customers don’t know what they don’t know, so don’t just expect them to line up without any effort on your part. Make sure to let the community know about your wash ahead of the grand opening with onsite advertising as well as print, radio, local web, and possibly TV advertisements. You’ll begin to build a curious customer base who will drop buy and tell their friends and family afterwards. $15,000 or $1 / car for initial marketing including billboards, mailings to 5 mile radius, promotional washes, and radio commercials is a good place to start at your launch and $.10 / car is a standard ballpark long-term rate for the future. One or two day Social media campaigns (incentivize customers with free washes for best results) can also be highly successful. Be prepared to collect feedback and adapt your marketing program for the greatest possible effectiveness moving forwards.

    Launching any business, and especially a brick and mortar car wash filled with high-end technology, is a complex and daunting prospect. But don’t worry. The team at Tommy Car Wash Systems has hundreds of washes behind us with thousands of installations and developments. We know the steps you’ll need to take to get your wash planed, approved, built, and operational, and we’ll help you turn a fantastic business opportunity into an even better reality.

    Tommy Car Wash Systems

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    Series: Payroll Information for a New Small Business #business #loans #with #bad #credit

    #small business payroll


    Series: Payroll Information for a New Small Business

    Throughout this series, we refer to links where you can find more information about the topic being discussed. You can find all of these links, organized by segment, by referring to the Related links page – open it in a separate tab or window and follow along as you watch each video.

    We are looking for your comments about this video series. After viewing the segments of the video that are of interest to you, please take a moment to complete our comments form.

    This is the introduction to the video called Payroll Information for a New Small Business.

    This segment will help you determine for tax purposes what is meant by the term “employer.”

    This segment contains information on opening a payroll account with the CRA.

    This segment contains information on paying and hiring new employees.

    This segment contains information on employee benefits.

    This segment contains general information on deducting Canada Pension Plan contributions and employment insurance premiums.

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    Start A Dog Walking, Pet-Sitting Business #business #week

    #dog walking business


    Become a Pet-Sitter or Dog-Walker

    December 28, 2006

    This article was excerpted from Pet Businesses, a startup guide available from SmallBizBooks.com .

    If you are charmed by all things furred, feathered and finned, this is the profession for you. As a professional pet sitter, you will care for people s pets while they re away, either for the day or for longer periods of time like during vacations or business trips. Pet sitters play with their charges, feed them, brush them, and possibly give them medication or injections. They often offer other services to make life easier for their customers, like cleaning up accidents and changing cat litter boxes, bringing in newspapers and mail, watering plants and taking out trash.

    Dog walkers take pooches out for their daily constitutional one or more times a day, either individually or in small groups. In some cities across the United States, like New York, dog walking alone can be a booming business. But it s actually more common for dog walkers to offer additional services, including playing with and feeding pets, bringing in newspapers and mail, and turning lights on and off.

    Both pet sitting and dog walking are still in their infancy as recognized professions. According to an industry expert, only 3 percent of households nationally use a pet sitter or dog walker. Even so, that adds up to 50 million to 60 million visits annually, according to the same source–and that number is on the rise. In fact, the outlook for pet sitters and dog walkers has never been better. Some estimates put the number of bonded and insured pet-sitter businesses nationwide at 10,000 (regrettably, there are no stats on the number of dog walkers).

    Just a few decades ago, these two professions didn t even exist. Instead, people relied on neighbors to watch and water their pets while they were away on vacation, or they dropped them off at kennels. But all that changed in the 70s with a decrease in stay-at-home moms available to let the dog out or to take the cat to the vet. Also, young couples began postponing their plans to have a family in favor of establishing their careers and often adopted pets to fill the void. Finally, an upsurge in business travel that started in the 80s and continues today also contributed to the need for the services of a pet-sitting or dog-walking professional.

    The field is wide open, so now is a great time to jump in with both paws.uh, feet!

    The Low-Down on Dough
    So how much can you earn? It really depends on where you re doing business and how many visits you can make in one day. Here s an easy way to estimate what you might make. Using a figure of $16 per visit, which Jerry Wentz, the president of the board of directors of the National Association of Professional Pet Sitters. says is the national average for pet sitters, determine how many visits per day you think you can handle. Let s say you can handle eight 25-minute visits a day. Here s the math:

    8 visits x $16/visit = $128/day
    $128/day x 5 days/week = $640/week
    $640 x 50 weeks (two weeks off for good behavior!) = $32,000/year

    Bump that up to 10 visits per day at $18 a visit, and you ll earn $45,000 per year. Ad two more visits per day at the same rate, and you re up to $54,000. Incidentally, it s customary to charge an additional $1 to $3 for each extra animal in the same household, which of course would improve your bottom line.

    For more information on starting your own pet-sitting/dog-walking business, plus four other pet businesses, check out our guide on SmallBizBooks.com .

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    What s the Better Buy: a Consumer or a Business Laptop? #business #directory

    #business laptops


    What s the Better Buy: a Consumer or a Business Laptop?

    Laptop makers such as Dell, HP, and Lenovo carefully label and target their laptops for either “business users” or “home users,” which implies that they’ve done their homework for you and selected the best models for your type of usage.

    But even if you’ll be using the laptop in your living room rather than during board meetings, should you skip shopping in the business laptop department altogether? The answer is, well, it depends.

    I compared similarly configured consumer and business laptop offerings from several major laptop vendors, and found several good reasons for home users to consider business laptops–including more configuration options and better warranties.

    But it isn’t always a cut-and-dried decision. Here’s what you need to keep in mind when selecting your next laptop.

    Six Reasons to Consider a Business Laptop

    Lenovo’s ThinkPad T420 business laptop. Better durability and build quality: Business laptops are designed to take a beating, literally in some cases. Lenovo’s ThinkPad line of business laptops are military-spec-tested to endure heat, humidity, pressure, shock, and other extremes so that the laptops can survive anything business travelers and outdoor workers toss at them. (Seriously, Lenovo testers even throw laptops out of airplanes .)

    The company’s IdeaPad consumer laptops don’t get that same extreme treatment, because regular laptop users supposedly don’t torture their laptops as much.

    Even if you don’t plan on working in severe conditions, a business laptop’s more rugged design may help you get more long-lasting value out of your laptop, thanks to the use of premium materials. The HP ProBook 4530s laptop for professionals, for example, might look quite similar to the silver HP Pavilion dv6t in the consumer line, but the ProBook 4530s is constructed of “high-strength precision-formed aluminum” while the dv6 simply has a metallic finish. The ProBook’s aluminum is deeply anodized to be scratch-, smudge-, and wear-resistant.

    The Asus U36S, a high-end consumer laptop. However, high-end materials have started to show up in premium consumer ultraportable laptops, such as the Asus U36S. which has a magnesium-aluminum alloy cover. But business laptops generally are still constructed and tested to be tougher.

    For instance, Asus reinforces its business-oriented B23E laptop with metal hinges and metal brackets to cushion the hard drive, and tests both the hinges and the panels beyond consumer standards. Here’s some information on how Asus tests .

    And the Dell E6520 not only has a spill-resistant keyboard (a protective seal guards against everyday spills), it also comes with a 360-degree bumper around the LCD panel, and even its latch is made of a zinc alloy for durability.

    More build-to-order options: You’ll find many preconfigured laptop models to choose from in the home/consumer site of any major laptop manufacturer, but if you want to fine-tune a laptop’s specifications to a greater extent, head to the business side.

    For example, with the entertainment-focused Lenovo IdeaPad Y470. you can select from consumer models with Intel Core i3, i5, or i7 processors and different memory and hard-drive capacities. But your customization options for those models are limited to adding on more years to the warranty or selecting laptop accessories.

    Select the business-oriented Lenovo ThinkPad T420 model, on the other hand, and you can opt for a higher-resolution display, swap in a discrete graphics card, upgrade the hard drive, add a fingerprint reader, and much more–at additional cost, of course.

    Longer warranties and better support: If you want more protection for your laptop, business laptop warranties typically trump consumer ones. The Toshiba, Dell, and Asus business laptops I looked at, for example, came with standard three-year warranties, versus a one-year warranty on the consumer models.

    The ThinkPad was configurable for up to a four-year warranty, while the IdeaPad warranty only went up to three years. Each year of additional protection and support is worth between $50 and $100 dollars, and gives you more peace of mind should your laptop break down beyond a one-year period.

    Priority service is also sometimes available to owners of business laptops, whether or not you use it for business purposes. HP EliteBook buyers, for example, will soon be getting their own dedicated tech support person to talk to.

    Additional security built in: Because lost business laptops are a huge liability and concern for business owners and IT departments, security features that consumer laptops don’t get are practically standard here. All of the business laptops I looked at offer at least the option to add a fingerprint reader, and many come with TPM (Trusted Platform Module) Embedded Security chips to encrypt your laptop’s data. HP touts its own suite of security tools (“ProtectTools”) that promises to wipe your drive remotely, shred files, check credentials on boot-up, and more.

    More expansion and connectivity options: Want to quickly plug in or unplug your laptop from an external monitor and the many peripherals you own? A business laptop is more likely to have a matching docking station or port replicator, perhaps because business users are more likely to want a setup both at the office and at home, or because they need quick connectivity if they travel often.

    Matte screens: Finally, consumer laptops tend to come with glossy displays that may show vibrant colors but also are subject to terrible glare. Business laptops generally have antiglare displays or at least antiglare options. These screens are easier on the eyes, easier to view outdoors, and have better viewing angles.

    Next: Four Reasons to Buy a Consumer Laptop

    What s the Better Buy: a Consumer or a.

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    How to become a Business Analyst #stock #market #news

    #business analyst


    How to become a Business Analyst

    Business Analysts: Making the world a better place, one office at a time…

    Business Analysts (known as BAs) are responsible for analysing a business’s processes and investigating how they work. They then identify improvements that can be made and present the case for these improvements back to the business.

    Although specific responsibilities vary greatly from specialism to specialism, the role of a Business Analyst will generally include the following:

    • Analysing the business (either one element or the business as a whole)
    • Evaluating all available data
    • Identifying any problems that need addressing or potential improvements
    • Projecting how feasible these improvements are to make
    • Using all of the acquired information to present a business case back to the company which details the solutions
    • Implementing the necessary and agreed-to changes, overall increasing efficiency for the business

    To be successful as a Business Analyst, excellent analytical skills are an obvious pre-requisite. You will need to be objective when evaluating elements within the business, combining your observations with an acute awareness of any developments within the marketplace in order to present any outcome.

    You will be spending most of your time researching processes and extrapolating data, so self-motivation and the ability to work independently are also necessities.

    Other key skills include:

      • Exceptional problem solving skills
      • Superior communication skills, not to mention the ability to be objective
      • Reporting and presentation skills
      • Computer literacy, not to mention proficiency in Microsoft Office (in particular Microsoft Excel)
      • The passion and confidence to justify your suggestions and back them up with solid research and analysis

    Being a BA gives me the opportunity to put my analytical and problem solving skills to good use, as well as witness my recommendations being put into practice on a daily basis. It’s not all numbers and analysis, as it often requires collaboration, which is ideal as I love to bounce ideas off the people I work with.

    Get qualified

    It is not a necessary requirement to have a degree to become a Project Manager. However, it is recommended to have some qualifications specific to the industry.

    This course is for anyone who has an interest in Business Analysis, either to become a BA or to further their current career or qualifications. Ideal for entry level candidates.

    Learn everything you need to know to become a Certified Business Analysis Professional with this reputable and well-recognised qualification, suited to individuals looking to further their ability within business analysis.

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    Incorporating a Company #financing #for #business

    #incorporating a business


    Incorporating a Company

    Articles of Incorporation

    The Name

    The articles of incorporation must set out the name of the corporation. Unless one wishes a numbered corporate name, a name should be approved prior to incorporation. All names must end with “Limited,” “Corporation,” “Inc.”, etc. See Corporate Name Approval .

    The Registered Office

    The location of the registered office must be stated in the articles. The street address need only to be stated in the Notice of Registered Office Form 3. (40 KB)

    Class and Maximum Number of Shares

    The principal function of authorized capital is to restrict the directors’ discretion to issue shares. While it is not necessary to place an upward limit on the number of shares that the directors of a corporation can issue, it is still possible to place a maximum number on them. The shares are to be without nominal or par value.

    • Common shares: this class of shares is usually free from conditions.
    • Preferred shares: this class bears special rights or restrictions with respect to voting, dividends and distributions on liquidation. This may include issuing dividends to preferred shareholders before issuing them to common shareholders.


    There is no limit on the maximum number of directors permitted. Not-for-profit entities must have a minimum of three directors. Directors must be the age of majority which is 19. Form 6. (232 KB)

    Restrictions if Any on Transfer Shares

    Substantial advantages may be available to private companies by indicating in the articles that the corporation shall not have more than 50 shareholders subscribe for shares. This provision is a Securities Act requirement. Other provisions may include pre-emptive rights, restrictions on transfer of shares, etc.

    Restrictions if Any on Business the Corporation May Carry On

    This provision in the articles is optional, with the exception of corporations without share capital, which must file a Schedule A (8 KB) and a Schedule B. (4 KB)

    Other Provisions, if Any

    This section in the articles is optional with the exception of corporations without share capital who must file Schedule “B” which is referenced in this section.


    The articles of incorporation can be submitted by a person known as the incorporator. If a body corporate is acting as an incorporator that company must be in good standing before the new entity can be incorporated.


    By-laws are not required to be submitted with the articles of incorporation.

    Business Taxation

    Newfoundland and Labrador has one of the most favourable business tax climates in Canada. Our Corporate Income Tax rates are amongst the lowest in the country. Refer to the Department of Finance for more information.


    Schedule of fees (70 KB) Prescribed by the Minister of Service NL for the Registry of Companies.

    Adobe® Acrobat® Reader software can be used for viewing PDF documents. Download Acrobat® Reader for free.

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    9 Ideas to Make a Side Income While Growing Your Business #business #careers

    #side business ideas


    9 Ideas to Make a Side Income While Growing Your Business

    February 18, 2015

    Being an entrepreneur is synonymous with being financially unstable at times. While you re growing your company, it s important to be focused. But what if you could get a side hustle that would help bring in a healthy secondary income to alleviate some of that financial stress? And, best case, what if this side hustle could also help you grow your core business?

    The good news is that there are a lot of companies that create opportunities for entrepreneurs that don t require full-time work and can become a great companion to the work you re doing. Better yet, they take out the hassle of having to create a second company to supplement your income because they do the legwork and allow you to plug in your skills and time.

    Here are nine examples of opportunities that might be the perfect side hustle for you as you continue to grow your company!

    1. Invest in real estate.

    There are a lot of methods for making money in real estate, many of which don t require your full time effort. Josh Dorkin, CEO and founder of BiggerPockets says you should consider land lording, flipping houses or wholesaling. His company s website will help you manage and understand all of the different state laws and regulations, as well as leverage the largest worldwide network of real estate investors who come to his site to ask questions and help one another.

    He also recommends finding people in your area with skill sets and expertise that you don t have, and to partner with them or use them as a place to park your investment cash. You can join BiggerPockets for free and he recommends reading its Ultimate Beginner s Guide . a free eight-chapter book on real estate investing for novices.

    2. Drive a taxi.

    Most of us are familiar with Uber and Lyft. the companies that took limo and town car services and gave them riders in their down time, and then expanded into recruiting regular citizens to utilize their free time to become taxi drivers. Have you considered being one of them?

    I ll never forget one of my UberX rides where the driver told me that he uses his spare time to make money driving as well as to leverage the networking he can do with each of his passengers as he grows his new business — genius!

    One of the greatest things about the Uber platform is that it offers economic opportunity for a variety of drivers — full time, part time, teachers in summer, full-time students, military spouses, etc. — in more than 260 cities around the world, says Molly Spaeth, an Uber spokesperson.

    So if you re in one of the 260 cities, you could be making your car into a money-generating experience and a networking opportunity on wheels!

    3. Host the next-gen of tupperware parties.

    There are many companies that do at-home parties and trunk shows where you can utilize the company s products, marketing and operations infrastructure to build a side income by plugging in your network.

    One that has proven to be very successful is Stella and Dot. where you become a jewelry consultant and host parties at friend s homes, local boutiques or events. Other popular brands include Rodan + Fields and Pure Romance .

    4. Outsource your skills.

    Can you do graphic design, data mining, website development, video editing, software development or customer service? Then you can parlay those skills by signing up on sites such as TaskRabbit or ODesk and get hired by their members to do jobs in any of these areas. You can pick and choose how often you want to work and what jobs you take!

    5. Be a temp.

    Long gone are the days of temp agencies and scouring the Internet for part-time or short-term work. Enter Wonolo. which helps people work now locally.

    Wonolo is a company that allows anyone to work for a few hours or a day at real companies doing real work, says AJ Brustein, the company s co-founder. Want to help an ecommerce company fulfilling orders when they are busy, help out at a conference taking tickets, or assist in data entry at a wealth management firm? You can get numerous career experiences around the flexibility of your own schedule.

    You can get alerted of jobs available in your area immediately via Wonolo s app. Sounds perfect for a busy entrepreneur!

    6. Rent out your pad.

    Are you traveling for a business meeting and leaving your home empty? Do you have a spare room or guest house? It s time to put them to work and list them on Airbnb or VRBO and make money on your property when you re not using it!

    7. Rent out your car.

    If you can get on board with renting out your home, you ll certainly understand the model created by companies such as RelayRides and FlightCar. which allow you to rent out your personal vehicle to their users.

    I recently used RelayRides during a trip in San Francisco and had a great experience that didn t require me to find a rental car center, and the cost was right. I even was able to get acquainted with the car s owner, to whom I offered to help find a job.

    It s another way to make money and network when you re not using your car (like when you re parked at the airport thanks to FlightCar)!

    8. Don t just buy on eBay, sell there.

    You can simply sell your own items, or you can make it into a side business.

    I run an eBay franchise in which I teach people how to run a re-sale business on eBay, says Garrett Brustein. I do one-on-one training to show them where to get their inventory and how to list and ship items the same way I do so they can emulate the process and take all of the guess work out of the business. They are then able to do this as a part-time job in their free time.

    Just think — you can unload the stuff you don t want and go shopping to resell items all in the name of making money!

    9. Get paid to network.

    I know this one from personal experience! After founding my first company, a credit card processing brokerage, I began to organize networking events in my city to help young professionals interact in an environment where they wouldn t fear getting sold to or hit on. I quickly realized the events were not only helping those in attendance to make valuable connections, but that there was real money to be made, as well.

    Over time, I packaged the operations of Network Under 40 to enable entrepreneurs in other markets to bring the events to their cities. By becoming the epicenter of the network, it naturally parlays into building their full-time businesses as well as creates a healthy side income.

    If you re looking to make some money on the side and/or find channels through which you can build your primary business, it s time to look into some of these options.

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