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Forms and Types of Business Entities – Choosing a Business Entity #business #plan #pdf


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Business Entity Types

To get the most out of your small business, choose the right structure. Selecting the right type of company or corporation for your new business helps maximize your chances of financial and operational success.

Common types of business structures and corporations include C corporations, limited liability companies (LLC), partnerships, S corporations, and sole proprietorships. Learn more about each type of business or corporation:

Limited Liability Companies (LLCs)

  • Independent legal structures separate from their owners.
  • Help separate your personal assets from your business debts.
  • Taxed similarly to a sole proprietorship (if one owner) or a partnership (if multiple owners).
  • No limit to the number of owners.
  • Not required to hold annual meetings or record minutes.
  • Governed by operating agreements.

C Corporations

  • Independent legal and tax structures separate from their owners.
  • Help separate your personal assets from your business debts.
  • No limit to the number of shareholders.
  • Taxed on corporate profits and shareholder dividends.
  • Must hold annual meetings and record meeting minutes.

S Corporations

  • Independent legal and tax structures separate from their owners.
  • Help separate your personal assets from your business debts.
  • Owners report their share of profit and loss in the company on their personal tax returns.
  • Limits on number of shareholders, who must be U.S. citizens or residents.
  • Must hold annual meetings and record meeting minutes.

Partnerships

  • Partners remain personally liable for lawsuits filed against the business.
  • Usually no state filing required to form a partnership.
  • Easy to form and operate.
  • Owners report their share of profit and loss in the company on their personal tax returns.

Sole Proprietorships

  • Owner remains personally liable for lawsuits filed against the business.
  • No state filing required to form a sole proprietorship.
  • Easy to form and operate.
  • Owner reports business profit and loss on their personal tax return.

Review our Business Comparison Chart for more details. Regardless of business structure you choose, incorporate.com can help you incorporate or form an LLC online or by phone for less than the cost of using an attorney.

Ready to Form a Business? Get Started


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Buying a Business: What You Need to Know #small #business #assistance


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Buying a Business: What You Need to Know

For some people, buying an existing business is a better option than starting one from scratch. Why? Because someone else has done much of the legwork for you, such as establishing a customer base, hiring employees, and negotiating a lease. Still, you’ll need to do some thorough research to make sure that what you see is what you’ll get.

What Type of Business Should You Buy?

Look for a business that has some connection to types of work you’ve done in the past, classes you’ve taken, or perhaps skills you’ve developed through a hobby. It’s almost always a mistake to buy a business you know little about, no matter how good it looks. For one thing, your lack of knowledge about the industry might cause you to overpay. And if you do buy the business, you’ll have to struggle up a steep learning curve afterward.

But do try to choose a business that you’re excited by. It’s easier to succeed in business when you enjoy the work you’re doing. To learn more, read Start the Right New Business for You.

Finding a Business to Buy

As you begin your hunt for the perfect company, consider starting close to home. For instance, if you’re currently employed by a small business you like, find out whether the present owner would consider selling. Or, ask business associates and friends for leads on similar businesses that may be on the market. Many of the best business opportunities surface by word of mouth — and are snapped up before their owners ever list them for sale.

Other avenues to explore include newspaper or online ads, trade associations, real estate brokers, and business suppliers. Finally, there are business brokers — people who earn a commission from business owners who need help finding buyers. It’s fine to use a broker to help locate a business opportunity, but it’s foolish to rely on a broker — who doesn’t make a commission until a sale is made — for advice about the quality of a business or the fairness of its selling price.

Research the Business’s History and Finances

Before you seriously consider buying a particular business, find out as much as you can about it. Thoroughly review copies of the business’s certified financial records, including cash flow statements, balance sheets, accounts payable and receivable, employee files including benefits and any employee contracts, and major contracts and leases, as well as any past lawsuits and other relevant information.

This review (lawyers call it “due diligence”) will not only help you understand how the company ticks, but will alert you to potential problems. For instance, if a major contract like a lease prohibits you from taking it over without the landlord or other party’s permission, you won’t want to finalize the deal without getting that permission.

Don’t be shy about asking for information about the business, and if the seller refuses to supply it, or if you find any misinformation, this may be a sign that you should look elsewhere. For an extensive list of questions you’ll want answered before committing to a purchase, see The Complete Guide to Buying a Business . by Fred S. Steingold (Nolo).

Closing the Deal

If you’ve thoroughly investigated a company and wish to go ahead with a purchase, there are a few more steps you’ll have to take. First, you and the owner will have to agree on a fair purchase price. A good way to do this is to hire an experienced appraiser. Next, you and the business owner will agree on which assets you’ll buy (such as a building and equipment) and the terms of payment. Most often, businesses are purchased on an installment plan, with a sizable down payment.

After you have outlined the terms on which you and the seller agree, you’ll need to create a written sales agreement and possibly have a lawyer review it before you sign on the dotted line. One good resource is The Complete Guide to Buying a Business . by Fred S. Steingold (Nolo), which contains a fill-in-the-blank sales agreement. Or if you’d prefer to hire a lawyer for help with this document-intensive process, Nolo’s Lawyer Directory will provide you with detailed personal profiles of lawyers in your area — all of whom have taken a pledge to treat their clients with respect.


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Business Manager – A PC based Information Management System #business #website #design


#business manager

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Business Manager

Get the Overview and the Detail to Manage Your Operation Effectively
Business Manager makes it easy to manage your mailing and shipping operations with high levels of productivity. Now you can control internal mailing budgets report expenses for external clients and even run your operation as a profit center.

Get Tight Control Over Costs
Business Manager gives you the information you need to control the use of high-cost services and special fees and to get maximum postal and carrier discounts. Track expenses by carrier class and fees monitor total usage by carrier track and allocate all mailing and shipping expenses.

From Raw Data to Actionable Information – Instantly
Business Manager takes raw data from each mailing and shipping system across your network and summarizes it in formats you can use. These reports are your tools for solid decision-making. View all account activity including performance against set budgets. Monitor operator performance as well as track carrier class and fees.

Business Manager Brings Your Enterprise Together
Business Manager can be configured for both local and enterprise-wide data collection and consolidation. With the exclusive DM Series Mailing Systems there is no additional hardware or data collection devices (applies to DM500 DM550 DM800 DM900 and DM1000 Series systems).

  • Manage accounts across the enterprise.
  • Monitor and consolidate data from multiple systems at multiple sites.
  • Track postal and shipping costs in real-time for an unlimited number of accounts.
  • Use data management tools to analyze expenditures and highlight potential cost reductions.
  • Increase productivity and eliminate human error by eliminating manual reconciliation of costs by account.
  • Access data to connect to back office financial systems.

The functional elements include:

Host Workstation – The central system necessary for managing the operations including consolidation of data from local or remote sites administrative and reporting functions.

Remote Site Workstation – A special version of the Host Workstation that enables you to form a network of host solutions to consolidate data from across the enterprise.

Administrative or Reporting Workstations – PC solutions that provide managers additional access to the collected data without interrupting the Host Workstation.

Optional Peripherals:
Barcode Scanner
Laser Report Printer
Monitor Stand
Crystal Reports Software


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How to Write a Business Report for English Learners #home #business #ideas


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How to Write a Business Report for English Learners

By Kenneth Beare. English as 2nd Language Expert

Kenneth is an ESL teacher, trainer, and content developer. He provides consulting services for English language learning projects through Englishfeed. You can follow Kenneth on Twitter. on his Google profile: Kenneth Beare. or on Facebook to stay up to date on his latest English learning materials.

Updated July 28, 2015.

If you would like to learn how to write a business report in English follow these tips and use the example report as a template on which to base your own business report. First of all, business reports provide important information for management that is timely and factual. English learners writing business reports need to make sure that the language is precise and concise. The writing style used for business reports should present information without strong opinions, but rather as direct and accurately as possible.

Continue Reading Below

Linking language should be used to connect ideas and sections of the business report. This example business report presents the four essentials that every business report should include:

Terms of reference refer to the terms on which the business report is written.

The procedure describe the method that was used to collect data for the report.

The findings describe the data or other important information the report produced.

Conclusions are drawn on the findings which provide reasons for recommendations.

The recommendations are specific suggestions made based on the conclusions of the report.

Read the short example business report and follow the tips below. Teachers can print this examples for use in class in lessons using sound teaching writing strategies .

Reports: Example Report

Margaret Anderson, Director of Personnel has requested this report on employee benefits satisfaction. The report was to be submitted to her by 28 June.

A representative selection of 15% of all employees were interviewed in the period between April 1st and April 15th concerning:

Continue Reading Below

  1. Overall satisfaction with our current benefits package
  2. Problems encountered when dealing with the personnel department
  3. Suggestions for the improvement of communication policies
  4. Problems encountered when dealing with our HMO
  1. Employees were generally satisfied with the current benefits package.
  2. Some problems were encountered when requesting vacation due to what is perceived as long approval waiting periods.
  3. Older employees repeatedly had problems with HMO prescription drugs procedures.
  4. Employees between the ages of 22 and 30 report few problems with HMO.
  5. Most employees complain about the lack of dental insurance in our benefits package.
  6. The most common suggestion for improvement was for the ability to process benefits requests online.
  1. Older employees, those over 50, are having serious problems with our HMO s ability to provide prescription drugs.
  2. Our benefits request system needs to be revised as most complaints concerning in-house processing.
  3. Improvements need to take place in personnel department response time.
  4. Information technology improvements should be considered as employees become more technologically savvy.
  1. Meet with HMO representatives to discuss the serious nature of complaints concerning prescription drug benefits for older employees.
  2. Give priority to vacation request response time as employees need faster approval in order to be able to plan their vacations.
  3. Take no special actions for the benefits package of younger employees.
  4. Discuss the possibility of adding an online benefits requests system to our company Intranet.

Important Points to Remember

  • A report is divided into four areas:
    • Terms of Reference – This section gives background information on the reason for the report. It usually includes the person requesting the report.
    • Procedure – The procedure provides the exact steps taken and methods used for the report.
    • Findings – The findings point out discoveries made during the course of the report investigation.
    • Conclusions – The conclusions provide logical conclusions based on the findings.
    • Recommendations – The recommendations state actions that the writer of the report feels need to be taken based on the findings and conclusions.
  • Reports should be concise and factual. Opinions are given in the conclusions section. However, these opinions should be based on facts presented in the findings .
  • Use simple tenses (usually the present simple) to express facts.
  • Use the imperative form (Discuss the possibility. Give priority. etc.) in the recommendations section as these apply to the company as a whole.

Continue learning about other types of business documents using these resources:


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Choose a legal structure for your business #home #business #ideas


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Choose a legal structure for your business

4. ‘Ordinary’ business partnership

In a business partnership, you and your business partner (or partners) personally share responsibility for your business.

You can share all your business’s profits between the partners. Each partner pays tax on their share of the profits.

Partnerships in Scotland (known as ‘firms’) are different, and have a ‘legal personality’ separate from the individual partners.

Legal responsibilities

You’re personally responsible for your share of:

  • any losses your business makes
  • bills for things you buy for your business, like stock or equipment

You can set up a limited partnership or limited liability partnership if you don’t want to be personally responsible for a business’ losses.

A partner doesn’t have to be an actual person. For example, a limited company counts as a ‘legal person’, and can also be a partner in a partnership.

Tax responsibilities

All the partners must:

The partnership will also have to register for VAT if you expect its takings to be more than £83,000 a year.


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SF Business Times Names RocketSpace a Tech Innovation Award Winner #business #partnership


#sf business times

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Joining RocketSpace alumni like Uber, Practice Fusion and Augmedix, we’re excited that RocketSpace has been named a San Francisco Business Times’ 2016 Tech Innovation Awards winner. The Business Times received more than 300 nominations for the award and the 25 winners were selected by a panel of judges made up of past Tech Innovation award winners, leaders in Bay Area technology innovation and San Francisco Business Times’ editorial team. Judges looked for companies that were revolutionizing their space, experiencing significant growth as well as how well they stand out against companies in the same space.

2016 winners represent categories including accelerators/incubators, advertising tech, enterprise app/service, cyber security, fintech, hardware, health/fitness app/service, mobile app, startup and education tech. Here’s the list of winners .

“Our region is renowned as a hub for innovation and as an ecosystem that fosters growth companies, said Mary Huss, Publisher of the San Francisco Business Times. RocketSpace, along with all of the Tech Innovation award winners deserve special recognition because they fuel our regional economy.”

Congrats to fellow award winners! We look forward to seeing you all at the awards gala tonight and in the Business Times’ special edition on May 27.

Written by: RocketSpace

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Consult the Expert – Business First Louisville – CUB: A Kentucky Community Bank #start

#business first louisville

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Consult the Expert Business First Louisville

Topic:
The Era of Smart Technology

Nearly all of us today have a Smart Phone, but what is a Smart Safe?
A Smart Safe is key to managing the challenges of cash in a retail environment. A Smart Safe automatically accepts, validates and stores notes while recording each transaction.

Smart Safe features include:
• Note Validation – tracks and records each note while checking for counterfeits
• Cash Tracking – deposits tracked by each user of the safe by Login ID
• Reporting – various reports can be generated to streamline reconcilement
• Connectivity – stores can provide online access to an armored car carrier and the bank

Benefits of this technology:
• Eliminates the employee risk of taking cash to a bank branch.
• Can lower expenses associated with armored car services as frequency of pickups may be reduced.
• If your bank has online access to the cash deposits they may be willing to provide you advanced availability even though the cash may still be sitting in the safe. If your business consists of managing large amounts of cash, get safe smart.

Online Banking

Convenient Capture Login

Update Your Contact Info
and Earn $1

Personalize Your Debit Card

Sign Up for eStatements

Use Our Switch Kit to Join Today


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How to Start a Business With (Almost) No Money #business #internet


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How to Start a Business With (Almost) No Money

You re excited to start a business. Maybe you have an idea, or you re just fascinated with the idea of launching and growing your own enterprise. You re willing to take some risks, like leaving your current job or going without personal revenue for a while. But there s one logistical hurdle stopping you. You don t have much money.

On the surface, this seems like a major problem, but a lack of personal capital shouldn t stop you from pursuing your dreams. In fact, it s entirely possible to start and grow a business with almost no personal financial investment whatsoever — if you know what you re doing.

Why a business needs money

First, let s take a look at why a business needs money in the first place. There s no uniform startup fee for building a business, so different businesses will have different needs. It s important to first estimate how much you need before you start finding alternative methods to fund your company.

Consider the following uses:

  • Licenses and permits. Depending on your region, you may need special paperwork and registry to operate.
  • Supplies. Are you buying raw materials? Do you need computers and/or other devices?
  • Equipment. Do you need specialized machinery or software?
  • Office space. This is a huge expense, and you can t neglect things like Internet and utilities costs.
  • Associations, subscriptions, memberships. What publications and affiliations will you subsribe to every month?
  • Operating expenses. Dig into the nooks and crannies here, and don t forget about marketing .
  • Legal fees. Are you consulting a lawyer throughout your business-development process?
  • Employees and contractors. If you can t do it alone, you ll need people on your payroll.

With that said, you have two main paths of starting a business with less money: lowering your costs or increasing your available capital from outside sources. You have three options here:

Option one: Reduce your needs

Your first option is to change your business model to demand fewer needs as listed above. For example, if you were planning on starting a company of personal trainers, you could reduce your employee expenses by being the sole employee at the start. Unless you need office space, you can work from home. You can even do your homework to find cheaper sources of supplies, or cut out entire product lines that are too expensive to produce at the outset.

There are a few expenses that you won t be able to avoid, however. Licensing and legal fees will set you back even if you cut back on everything else. According to the SBA, many microbusinesses get started on less than $3,000. and home-based franchises can be started for as little as $1,000.

Option two: Bootstrap

Your second option invokes the idea of a warmup period for your business. Instead of going straight into full-fledged business mode, you ll start with just the basics. You might launch a blog and one niche service, reducing your scope, your audience and your profit, in order to get a head-start. If you can start as a self-employed individual, you ll avoid some of the biggest initial costs (and enjoy a simpler tax situation, too ).

Once you start realizing some revenue, you can invest in yourself, and build the business you imagined piece by piece, rather than all at once.

Option three: Outsource

Your third option is all about getting funding from outside sources. I ve covered the world of startup funding in a number of different pieces. so I won t get into much detail, but know there are dozens of potential ways to raise capital — even if you don t have much yourself. Here are just a few potential sources for you:

  • Friends and family. Don t rule out the possibility of getting help from friends and family, even if you have to piece the capital together from multiple sources.
  • Angel investors. Angel investors are wealthy individuals who back business ideas early in their generation. They typically invest in exchange for partial ownership of the company, which is a sacrifice worth considering.
  • Venture capitalists. Venture capitalists are like angel investors, but are typically partnerships or organizations and tend to scout businesses that are already in existence.
  • Crowdfunding. It s popular for a reason: with a good idea and enough work, you can attract funding for anything.
  • Government grants and loans. The Small Business Administration (and a number of state and local government agencies) exist solely to help small businesses grow. Many offer loans and grants to help you get started.
  • Bank loans. You can always open a line of credit with the bank if your credit is in good standing.

With one or more of these three options, you should be able to reduce your personal financial investment to almost nothing. You may have to make some other sacrifices, such as starting small, accommodating partners or taking on debt, but if you believe in your business idea. none of these losses should stand in your way. Capital is a major hurdle to overcome, but make no mistake — it can be overcome.


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Investor – s Business Daily to become a weekly, 20 news jobs to be

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Investor s Business Daily to become a weekly, 20 news jobs to be cut

Investor s Business Daily, which has published five days a week since its founding in 1984, will announce next week that it will become a weekly newspaper and will focus its editorial efforts more online.

The change is expected to take effect on May 2, Talking Biz News has confirmed. The Los Angeles-based newspaper will be put to bed Friday evening and publish early the following week.

About 20 newsroom jobs will be cut as a result of the change, leaving slightly more than 40 in the editorial side of the newspaper. Additional cuts will be made in other departments.

IBD has been profitable, but we recognize that readership trends don’t favor daily newspapers, said managing editor Susan Warfel. We’re adjusting our business model now because we want to move from a position of strength and take advantage of the best growth opportunities in our business.

Warfel said that the newspaper will retain the Investor s Business Daily name because it will publish every day on the Internet.

At one point, Investor s Business Daily hoped to grow to a subscription base of 700,000 to 1 million. And in 2000, its circulation was above 300,000. But the paper had a circulation or 113,038 in the third quarter of 2015. down from 157,161 in 2013. It had 46,213 print subscribers and 62,372 digital subscribers.

The newspaper s website, www.investors.com, added a paywall more than a decade ago, and the newspaper believes that the shift to a web focus for most of the week will allow it to improve its profit margins.

IBD currently attracts over 4 million monthly unique visitors and publishes investment analysis products such as Leaderboard. Several mobile-first product launches are scheduled within the next year.

The newspaper was started as Investor s Daily by investor and stockbroker William O Neil, who has since endowed a professorship in business journalism at Southern Methodist University. It changed its name to Investor s Business Daily in 1991.

O Neil was frustrated that he couldn t obtain data about stocks in any other newspaper, including The Wall Street Journal, that he wanted to use to make investment decisions. Investor s Business Daily s stock listings include a proprietary ratings system.

Its core readers are self-directed investors, especially those who favor growth stocks who take a hands-on approach to their investments rather than leave the decision-making to someone else.

In 2008, the newspaper won its only Pulitzer Prize. Michael Ramirez. the editorial cartoonist for the newspaper, won the Pulitzer in that category.

Talking Biz News interviewed Warfel in May 2015 about the paper s operation. Read that interview here .


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Starting a business – Canada Business Network #starting #your #own #business


#starting your own business

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Starting a business

Want to be your own boss? The idea of starting a business is appealing to a lot of people and can be very rewarding. This information will help you plan for a successful start to your entrepreneurship journey.

Get ready to start a business by doing the research and planning that will help you launch your project.

Access guides and checklists for starting different types of businesses.

Find out how to write a business plan and access templates, sample business plans, market research information and statistics.

Find out about available sources of financing for your start-up business.

Choose the right name for your business. Your business name should be unique and easy to remember, and should describe the products and services you provide.

Find out about the requirements to register your business with different levels of government.

Learn about permits, licences and regulations that apply to your business.

Explore some of the resources that can help you with hiring and managing employees as well as paying a variety of taxes.

Trying to decide where to locate your business and how to arrange it once you get there? Consider your options.

Are you ready to start a business to further your non-profit organization’s mission or generate income to support its sustainability? Find resources to help you manage and grow.

Date modified: 2016-03-17

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