Tag: Be

How Hard Is It to Be a Small Business Owner? Small Business Blog #cheap #business #insurance

#small business owner

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How Hard Is It to Be a Small Business Owner?

There are a lot of misconceptions about being a small business owner. Like…

People often think that being a small business owner is easy because you get to be your own boss and set your own hours.

The Reality : Most small business owners work harder than they used to work when they had a corporate job.

People think that being a small business owner is glamorous – you get to make big decisions, make big money, and have a carefree lifestyle.

The Reality . Most small business owners have to wear many hats – sometimes getting to be a strategic visionary, but other times having to serve as a front-line customer service person, amateur psychologist, or office janitor.

But one of the biggest misconceptions about being a small business owner is that it’s too “hard.” I recently read an article on the Naked Capitalism blog entitled Tech Titans Promoting Basic Income Guarantee as a Way to Shrink Government, Kill Social Programs , which suggested that being an entrepreneur is a raw deal for most people:

But who wants to be an entrepreneur? Seriously. If you can hold a job with any stability and you don’t mind the work and get on with your boss and co-workers, it’s a vastly better deal than running your own show…being in business for yourself is almost a roll-back for the whole rationale of advanced economies: that of specialization. In a larger organization, the really good sales guy can mainly do sales, plus the unavoidable internal politics and bureaucratic tasks. The accountant can mainly do accounting, and so on.

By contrast, starting a business requires lots of skills, including selling, negotiating, having common sense about priorities, being able to size up potential backers and employees, being able to budget and manage funds. It’s a drag if you are really good at one particular thing to have to do all that other stuff, even if you are capable of it.

The payoff curve for entrepreneurship looks a lot like that of lines of employment that most parents would tell their kids to avoid: acting, playing sports, writing novels. Remember, 90% of all new businesses fail within three years. And like J.K. Rowling, A-list Hollywood stars, and football pros, the lure of the huge payoffs at the top end masks the steep falloff after that.

First of all, it’s not true that “90% of all new businesses fail within three years” – according to statistics from the Small Business Administration. about half of small businesses survive for five years or more, and one-third survive for 10 years or more. That’s a lot longer than I’ve lasted at any corporate job.

This article also makes it sound like entrepreneurship only offers rewards to the people at the top – as if most small business owners are a bunch of low-paid losers who would be better off trying to make it as actors in Hollywood. But even if we’re not going to be the next Bill Gates, most small business owners make a decent living – according to an American Express OPEN survey on the average entrepreneur’s salary. as of 2013, small business owners paid themselves an average annual salary of $68,000 – which is significantly more than the 2013 U.S. median household income of $52,250.

But more broadly, I disagree with the premise of the argument that it’s “too hard” to be a small business owner because you don’t get to specialize in what you do best.

It’s true that when you work for a big company, there are certain “economies of scale” that enable the big company to do things faster, cheaper, and perhaps better than a smaller company could. This is a basic principle of economics. However, for small business owners today, in the age of the Internet, there are so many great online small business tools and resources that can help you be more productive! You don’t have to be a big company to get big results in 2015 – you can use business-grade tools and resources to outsource, automate, and delegate various business tasks and daily operations, whether it’s basic back-office functions like simple accounting, invoicing, or payment processing, or more advanced skills like marketing, building customer relationships, and business inventory management .

As a small business owner today, you’re in business “for” yourself, but not “by” yourself. You can get help with almost any business topic imaginable online. You can connect with other entrepreneurs on LinkedIn for advice and ideas. You can get free business mentoring from SCORE, the Small Business Administration’s mentoring program. Even if you’re a solo entrepreneur or small business owner with only a few employees, there are many ways to make your business seem “bigger” without the bigger costs.

It’s simplistic (and wrong) to think that it’s too hard to be an entrepreneur, so no one should want to do it. I think it s actually the opposite – while it s never easy to run your own business – there are always financial risks and stresses, and lots of hard work – the Internet is making it easier than ever before to run a business. Not everyone has the right combination of ambition, hustle, vision, and sheer willpower that makes for a successful small business owner – but if you do, the rewards (and the daily sense of freedom) make it all worthwhile.

Ideally, as a small business owner, you should get to specialize more than ever before in doing what you do best every day. Use some of these cheap (or free) online business tools and mobile apps to outsource or automate the daily tasks that you don t like to do or aren t as good at. Being an entrepreneur helps you unleash your productive, creative potential like nothing else!





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How Do I Know If I – m Qualified to Be a Business Analyst? #entrepreneur #ideas

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How Do I Know If I m Qualified to Be a Business Analyst?

Are you exploring a career in as a business analyst? Do you find yourself wondering if your skills and experience are relevant to a business analyst role? Would you be interested in learning about how qualified you are to be a business analyst?

We re going to talk about how to know if you are qualified to be a business analyst, but first I m going to share a funny story with you.

(Before I forget, I want to be sure you know about my step-by-step BA career planning course (it’s free) that’s designed to help you, the mid-career professional, kick-start your business analysis career. The course will help you dig deeper into each of the concepts outlined below.)

Just last week, the night before my birthday, I walked down the short flight of stairs after putting our daughter to bed. I smiled at my husband. He was making an odd expression. I continued to look more deeply at him to figure out why.

I walked over to where he was sitting and said, What s that goofy face for?

He says, You didn t see it, did you?

Me: See what?

He shifts his eyes back toward the stairs. On the ledge we have right in front of our stairway were a dozen yellow roses laying out in plain sight.

I couldn t believe I had completely missed them. For a split second, I even starting thinking that just maybe my husband tele-ported them there, but then I remembered the laws of physics and found my own eyes to be the culprit.

I was looking at my husband and his funny expression instead of what was right in front of me.

This same sort of thing happens to all of us, all of the time. We often don t see what can be obvious to other people or even what other people expect we should obviously be seeing. In all the work I do with professionals transitioning into the BA profession, the most prevalent problem I see is that they overlook significant relevant and transferable skills from their own career background.

As a result, their answer to the question, Am I qualified to be a business analyst? is a resounding no when it should be a yes or at least a some of the time . (And as we ll see in a bit, some of the time can be a very effective path to business analysis.)

Today, I d like to help you see the bouquet of roses waiting for you on the ledge at the bottom of the stairs. And to do that we need to look at the concept of transferable skills.

What are Transferable Business Analyst Skills?

Transferable skills are skills that you’ve built through experiences in your past roles. In the context of business analysis, transferable skills are BA techniques you’ve used in non-BA jobs or soft skills you’ve developed in perhaps unrelated roles.

Transferable skills can help you skip past entry-level business analyst positions. This is especially important because there tend to be very few entry-level business analyst positions. And those savored few entry-level positions tend to favor recent college graduates without the salary requirements of an experienced professional.

If you do have even a few years of professional experience, and a fair amount of the 42 reasons to become a business analyst resonate with you, then you have transferable skills. Getting clear and confident about them is part of your path to success as a business analyst and figuring out what roles you qualify for.

But What Business Analyst Qualifications Are Transferable?

When transitioning to business analysis, there are many areas in which to look for your business analyst qualifications. A good first step is to review our list of core business analysis skills that are important for a new business analyst and start mapping your experience to these skill areas.

Here s a rundown of what you can expect to find during this process:

  • The core business analyst skills. those you might find mapped out in the Business Analysis Body of Knowledge® (BABOK®). will help you get past the screening process for a business analyst role. Any given hiring manager tends to have a checklist of key qualifications they absolutely want to have met by a potential candidate. And even if your experience is informal. it s likely that you can map it to a more formal deliverable or analysis technique. Use the BA terms (appropriately) in your resume and in a job interview and you ll increase your chances of qualifying yourself for a business analyst role.
  • Although managers screen for a specific set of core business analyst skills, they often hire for soft skills. such as relationship-building and the ability to communicate with a diverse set of stakeholders from the business and technical communities. Understanding the key soft skills you bring to the table is critical. Being able to speak to specific experiences where you used those soft skills in a BA context (or close to BA context) can increase the number of BA jobs you ll qualify for.
  • Then there will be skills that set you apart as a candidate and qualify you for specific types of BA positions. These vary widely from technical skills, to specific business domain knowledge, to experience with specific types of business applications.

What Do I Do with My List of Business Analyst Qualifications?

Even with a list of transferable business analyst qualifications in hand, a transitioning BA can get understandably frustrated. What business analyst roles do these skills qualify you for? It can often seem as if the grass is greener on the other side of the proverbial fence .

  • If you don t have an IT background, it can seem as if every possible BA job you look at requires some obscure technical skill you have no interest in building.
  • If you do have an IT background, but no business experience, it can see as if every possible BA job you look at requires business domain experience.

While you will most likely find that the number of roles you aren t qualified for outweigh the number of roles you do qualify for, your career background will qualify you very strongly for a specific set business analyst jobs .

  • If you have a technical background. consider BA roles that include systems analysis responsibilities or blend selected IT duties with a business analyst role. Your experience with specific technologies could qualify you for specific BA roles.
  • If you have a business background from a specific functional area (such as customer service, human resources, or finance), consider BA roles working on the business applications with which you are familiar or supporting this area of the company. Your familiarity with the terminology and processes for that functional area could qualify you for specific BA roles.
  • If you have deep experience in a specific industry. consider business analyst roles in that industry. Your understanding of the industry environment, terminology, and core processes could qualify you for specific BA roles.

To sum things up, the answer to the question about whether or not you are qualified to be a business analyst requires a bit of analysis. First, you must discover your business analyst skills. Then you want to map them to the types of roles you see in your local job market. Most likely, you will find yourself to be very qualified for some roles, partially qualified for others, and not at all qualified for still others (and this last set will most likely be the biggest, and that s true even for BAs with formal experience).

With this information in hand, you can decide how and if to move forward in your BA career. And keep in mind, just like those I work with on their career transitions, it s quite possible and actually very likely that you have more relevant experience than you think, and you won t realize what those qualifications are until you go through a skills discovery process .

Find Your Path Into a Business Analyst Career

After reading and working through the exercises in How to Start a Business Analyst Career. you’ll know how to assess and expand your business analysis skills and experience.

This book will help you find your best path forward into a business analyst career. More than that, you will know exactly what to do next to expand your business analysis opportunities.

Click here to learn more about How to Start a Business Analyst Career

Stay informed about new articles and course offerings.




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Business Required to be Registered and Application for Business Registration #window #cleaning #business

#business registration

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“Business” Required to be Registered and Application for Business Registration

“Business” Required to be Registered

  • any form of trade, commerce, craftsmanship, profession, calling or other activity carried on for the purpose of gain;
  • any club which provides facilities, services and exclusive club premises to its members for social intercourse or recreation; and
  • every company incorporated in Hong Kong under the Companies Ordinance or non-Hong Kong company that has established a place of business in Hong Kong, regardless of whether it is actually carrying on any business in Hong Kong.
  • every non-Hong Kong company that has a representative or liaison office in Hong Kong, or has let out its property situated in Hong Kong, regardless of whether it has established a place of business in Hong Kong.

However, a person who is only holding an office or employment is not regarded as carrying on any business and is not required to apply for business registration.

  • Business carried on by Sole-proprietorship, Partnership and Unincorporated body of persons, Non-Hong Kong company, and Branch business
    • Within one month from its date of commencement of business.
  • A company incorporated/registered under the Companies Ordinance
    • Please refer to One-stop Company and Business Registration .

Applications for Registration of Business which has not commenced business will not be accepted

Business Registration Ordinance (Cap. 310) provides that any person carrying on sole proprietorship or partnership business shall apply for business registration within one month of the commencement of such business. The Inland Revenue Department (IRD) will not accept any applications for registration of businesses which have never existed or have yet to commence operation.

Recently, IRD has received a large number of new applications for registration of businesses of which non-residents are sole proprietors or partners. However, many of them fail to prove that they did commence their businesses in Hong Kong. Such applications are not accepted.

Given that persons who land in Hong Kong as visitors are normally not allowed to establish or join in any business during their stay in Hong Kong, IRD will require businesses with non-resident sole proprietor or partners to provide further information (see Sample Questions ) with a view to ensuring that the particulars, including the date of commencement, stated in the relevant application form are correct. Please note that any person who submits false information shall be guilty of an offence and liable to a fine of $5,000 and to imprisonment for 1 year under the Business Registration Ordinance.

As a related measure, upon receipt of Notification of Change of Partners (Form IRBR64) for admission of non-resident(s) as partner(s), IRD will ask the business concerned to provide further information (see questions (1) and (2) of Sample Questions) in support of the admission.

  • To register a business, you have to:
    • complete a prescribed application form ;
    • pay the business registration fee levy ; and
    • produce your proof of identity.
  • Levy is collected for the Protection of Wages on Insolvency Fund. For details, please visit the website of Labour Department .
  • Please refer to the following table for the application form to be completed and the proof of identity required:

Business carried on by

Proof of Identity

If the owner/all partners/the principal officer is/are not residing in Hong Kong, he/she has/they have to appoint a resident individual as his/her/their agent for the purposes of business registration. In that case, please complete and submit the form IRBR177 or submit an appointment letter stating the full particulars of the agent including his/her name, Hong Kong identity card number and residential address. A copy of his/her Hong Kong identity card must also be attached to the application.

This application form is applicable to all non-Hong Kong companies irrespective of whether they are required to be registered under Part 16 of the Companies Ordinance, and body corporates formed under other legislations in Hong Kong.

  • For specimen of the application forms, please click here .
  • When you register your business, you may register a business name. You should take one of the following three choices:

(a) register a Chinese name only;

(b) register an English name only; or

(c) register both a Chinese name and an English name.

  • For a Chinese name, you may include English alphabets, but not English words. If you wish to include symbols in either a Chinese name or an English name, only the following symbols can be used:
    1. For Chinese Name
  • Please note that you may not use the following names as your business name:

    (a) a name which suggests that the business is incorporated with limited liability when it is not,

    (b) where the business is incorporated with limited liability, a name which suggests that the business is incorporated under a different name, e.g. a corporation “ABC Ltd.” cannot use a business name “XYZ Ltd.” or

    (c) a name which suggests a connection with the Government or any public body when no such connection exists or has existed.

  • Sometimes, for the same business, you may wish to register more than one business name. This is permissible. However, each registered additional business name will be treated as a branch of the business. The additional business name must also follow the rules mentioned above.
  • If you carry on more than one business, you should register each business separately. Each business may have its own business name.

How to Submit Your Application

  • Submit in person to the Business Registration Office at 4/F Revenue Tower, 5 Gloucester Road, Wan Chai, Hong Kong.
  • By post to P.O. Box 29015, Gloucester Road Post Office, Hong Kong. Underpaid mail will be rejected. Please pay sufficient postage.
  • Submit online via eTAX (for sole-proprietorship, partnership and branch registration only). Please refer to How to Authenticate Electronic Application For Business Registration and the Freqently Asked Questions .
    If you wish to know more about the “Online Application for Business or Branch Registration” service, please click here to view Online Demo.

How to Authenticate Electronic Application for Business Registration

  • With effect from 21 February 2011, apart from digital certificate, an applicant may use his eTAX Password or MyGovHK Password (already linked up with eTAX account) to sign the prescribed application form (Form 1(a), 1(c) or 1(d)) in making an application for business registration. Please refer to Apply for eTAX Password and the Frequently Asked Questions .
  • A person who makes the application for business registration by using his/her password or digital signature will be treated as having signed the application form and is accountable for the accuracy of the information submitted.

How to Obtain Business Registration Application Forms

Specimen of Application Forms

  • You may download a specimen of the following application forms for reference. The specimen forms are saved in pdf format which can be viewed and printed by using the Adobe Acrobat Reader 5.0 or above and Adobe Asian Fonts Packs which are available free at the Adobe Systems Incorporated website .
  • Download copy MUST NOT be used for submission of application. Only forms that are printed by and according to the specifications of the Department are acceptable for application purposes.
  • Application forms are available for collection at the Business Registration Office. You may also complete the form IRBR194 or write to us to obtain the application forms. Please state your name, your correspondence address and the type of application form you required in the letter. and return it either by post or fax (2824 1482). The application forms will be sent to you afterwards.

(1) Form 1(a) (PDF:1,069KB) – Application by an individual for registration of business carried on by him in Hong Kong.
(2) Form 1(b) (PDF:1,268KB) – Application by a body corporate for registration.
(3) Form 1(c) (PDF:1,290KB) – Application by partnership or by other body unincorporate for registration of business carried on by such body in Hong Kong.
(4) Form 1(d) (PDF:890KB) – Application for registration of branch business carried on in Hong Kong.

When to Collect Business Registration Certificate





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10 Influential Business Books You Need To Read To Be Successful #small #business #idea

#business books

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10 Influential Business Books You Need To Read To Be Successful

10 Influential Business Books You Need To Read To Be Successful

Take a minute and think about some of the most successful people you know.

I d bet they re great with people, are super-productive, and think differently than most. After all, that s how they got to be where they are today.

Jealous of them? You don t have to be. You can learn these same skills by studying some of the best business books that can help you take your game to the next level. Here s 10 of my favorites.

1. How to Win Friends and Influence People by Dale Carnegie

Dale Carnegie s best-selling book that helped to launch a personal growth empire should be required reading for everyone who wants to learn how to build and nurture relationships for a lifetime. Read this book and you ll learn some simple advice than can help you build popularity points within your current network and just as important, expand it to others.

2. Focal Point by Brian Tracy

Got a lot on your to-do list? Of course you do. But what separates productive people from others is their ability to focus on a singular task at a time, and getting it done before moving on to the next one.

Sounds simple in theory, but this can be extremely difficult in practice. In Focal Point Brian Tracy offers tips to help build discipline and organization into your day so you can get more stuff done.

3. Purple Cow by Seth Godin

Creating a me-too product can be easy at the start but can doom you to business failure. That s why marketing maverick Seth Godin recommends creating a product that is truly different from anything already available in the marketplace.

In essence by making the product different you ll be building the marketing into the actual product development which just makes your actual marketing a helluva lot easier.

4. Magic of Thinking Big by David Schwartz

If you ve struggled with procrastination or small thinking, this is the book for you. In it Schwartz offers practical advice that can help you get inspired and motivated to create a bigger life for yourself. And with it can be a more lucrative and rewarding career.

5. Man s Search for Meaning by Viktor Frankel

It can be difficult for lots of people to keep things in perspective, especially when working on high priority and urgent projects at work. Man s Search for Meaning can be a life-changing book in the sense that it can open your eyes to a first-hand experience of one of the greatest atrocities in the history of mankind, while also teaching a valuable lesson about having purpose.

6. 4 Hour Work Week by Tim Ferriss

Solo-entrepreneurs can learn a ton from the guy who made lifestyle design popular. But guess what? The 4HWW isn t just for guys and girls who want to start a small online business.

Smart moves like outsourcing, following the 80/20 rule, and automating processes should be made by entry-level workers and established executives alike.

7. Think and Grow Rich by Napoleon Hill

I remember sitting on a couch and opening this book on a Saturday morning, thinking I d get through a chapter and then get on with my day. Instead, about 12 hours later, I was finished with the book. The concepts in it were mind-blowing to me.

To think that thoughts can create your reality sounded a little far-fetched at first. But after going through the book and understanding that your thoughts create your beliefs, which lead to actions, which then lead to habits .well you can get where I m going with this.

If you focus your thoughts on success, achieving it will be much more likely than thinking about obstacles, failures and everything else that can get in your way.

8. One Minute Manager by Kenneth Blanchard

If you re going to read one management book in your life, this should be it. It s simple. You can read it in an afternoon. And the advice works.

9. Lean Start-Up by Eric Ries

Before you create any sort of business you ll want to give Lean Start-Up a read through. Doing so can save you money, time and other resources you could have potentially wasted otherwise.

10. The Monk and the Riddle by Randy Komisar

The story Randy Komisar shares in the Monk and the Riddle offers advice about not just about how you need to think when starting a new business, but also about how to build a life you re passionate about.

Understanding the technical aspects of launching a start-up is great, but if you don t have the staying power to stick with it when the going gets tough then it s not likely to work. This book can help you understand this lesson before you spend blood, sweat and tears on a project that you re heart isn t into.

Set a Goal For Yourself





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Investor – s Business Daily to become a weekly, 20 news jobs to be cut – Talking Biz News #good #business #ideas

#investor business daily

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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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Business Required to be Registered and Application for Business Registration #stocks #to #watch

#business registration

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“Business” Required to be Registered and Application for Business Registration

“Business” Required to be Registered

  • any form of trade, commerce, craftsmanship, profession, calling or other activity carried on for the purpose of gain;
  • any club which provides facilities, services and exclusive club premises to its members for social intercourse or recreation; and
  • every company incorporated in Hong Kong under the Companies Ordinance or non-Hong Kong company that has established a place of business in Hong Kong, regardless of whether it is actually carrying on any business in Hong Kong.
  • every non-Hong Kong company that has a representative or liaison office in Hong Kong, or has let out its property situated in Hong Kong, regardless of whether it has established a place of business in Hong Kong.

However, a person who is only holding an office or employment is not regarded as carrying on any business and is not required to apply for business registration.

  • Business carried on by Sole-proprietorship, Partnership and Unincorporated body of persons, Non-Hong Kong company, and Branch business
    • Within one month from its date of commencement of business.
  • A company incorporated/registered under the Companies Ordinance
    • Please refer to One-stop Company and Business Registration .

Applications for Registration of Business which has not commenced business will not be accepted

Business Registration Ordinance (Cap. 310) provides that any person carrying on sole proprietorship or partnership business shall apply for business registration within one month of the commencement of such business. The Inland Revenue Department (IRD) will not accept any applications for registration of businesses which have never existed or have yet to commence operation.

Recently, IRD has received a large number of new applications for registration of businesses of which non-residents are sole proprietors or partners. However, many of them fail to prove that they did commence their businesses in Hong Kong. Such applications are not accepted.

Given that persons who land in Hong Kong as visitors are normally not allowed to establish or join in any business during their stay in Hong Kong, IRD will require businesses with non-resident sole proprietor or partners to provide further information (see Sample Questions ) with a view to ensuring that the particulars, including the date of commencement, stated in the relevant application form are correct. Please note that any person who submits false information shall be guilty of an offence and liable to a fine of $5,000 and to imprisonment for 1 year under the Business Registration Ordinance.

As a related measure, upon receipt of Notification of Change of Partners (Form IRBR64) for admission of non-resident(s) as partner(s), IRD will ask the business concerned to provide further information (see questions (1) and (2) of Sample Questions) in support of the admission.

  • To register a business, you have to:
    • complete a prescribed application form ;
    • pay the business registration fee levy ; and
    • produce your proof of identity.
  • Levy is collected for the Protection of Wages on Insolvency Fund. For details, please visit the website of Labour Department .
  • Please refer to the following table for the application form to be completed and the proof of identity required:

Business carried on by

Proof of Identity

If the owner/all partners/the principal officer is/are not residing in Hong Kong, he/she has/they have to appoint a resident individual as his/her/their agent for the purposes of business registration. In that case, please complete and submit the form IRBR177 or submit an appointment letter stating the full particulars of the agent including his/her name, Hong Kong identity card number and residential address. A copy of his/her Hong Kong identity card must also be attached to the application.

This application form is applicable to all non-Hong Kong companies irrespective of whether they are required to be registered under Part 16 of the Companies Ordinance, and body corporates formed under other legislations in Hong Kong.

  • For specimen of the application forms, please click here .
  • When you register your business, you may register a business name. You should take one of the following three choices:

(a) register a Chinese name only;

(b) register an English name only; or

(c) register both a Chinese name and an English name.

  • For a Chinese name, you may include English alphabets, but not English words. If you wish to include symbols in either a Chinese name or an English name, only the following symbols can be used:
    1. For Chinese Name
  • Please note that you may not use the following names as your business name:

    (a) a name which suggests that the business is incorporated with limited liability when it is not,

    (b) where the business is incorporated with limited liability, a name which suggests that the business is incorporated under a different name, e.g. a corporation “ABC Ltd.” cannot use a business name “XYZ Ltd.” or

    (c) a name which suggests a connection with the Government or any public body when no such connection exists or has existed.

  • Sometimes, for the same business, you may wish to register more than one business name. This is permissible. However, each registered additional business name will be treated as a branch of the business. The additional business name must also follow the rules mentioned above.
  • If you carry on more than one business, you should register each business separately. Each business may have its own business name.

How to Submit Your Application

  • Submit in person to the Business Registration Office at 4/F Revenue Tower, 5 Gloucester Road, Wan Chai, Hong Kong.
  • By post to P.O. Box 29015, Gloucester Road Post Office, Hong Kong. Underpaid mail will be rejected. Please pay sufficient postage.
  • Submit online via eTAX (for sole-proprietorship, partnership and branch registration only). Please refer to How to Authenticate Electronic Application For Business Registration and the Freqently Asked Questions .
    If you wish to know more about the “Online Application for Business or Branch Registration” service, please click here to view Online Demo.

How to Authenticate Electronic Application for Business Registration

  • With effect from 21 February 2011, apart from digital certificate, an applicant may use his eTAX Password or MyGovHK Password (already linked up with eTAX account) to sign the prescribed application form (Form 1(a), 1(c) or 1(d)) in making an application for business registration. Please refer to Apply for eTAX Password and the Frequently Asked Questions .
  • A person who makes the application for business registration by using his/her password or digital signature will be treated as having signed the application form and is accountable for the accuracy of the information submitted.

How to Obtain Business Registration Application Forms

Specimen of Application Forms

  • You may download a specimen of the following application forms for reference. The specimen forms are saved in pdf format which can be viewed and printed by using the Adobe Acrobat Reader 5.0 or above and Adobe Asian Fonts Packs which are available free at the Adobe Systems Incorporated website .
  • Download copy MUST NOT be used for submission of application. Only forms that are printed by and according to the specifications of the Department are acceptable for application purposes.
  • Application forms are available for collection at the Business Registration Office. You may also complete the form IRBR194 or write to us to obtain the application forms. Please state your name, your correspondence address and the type of application form you required in the letter. and return it either by post or fax (2824 1482). The application forms will be sent to you afterwards.

(1) Form 1(a) (PDF:1,069KB) – Application by an individual for registration of business carried on by him in Hong Kong.
(2) Form 1(b) (PDF:1,268KB) – Application by a body corporate for registration.
(3) Form 1(c) (PDF:1,290KB) – Application by partnership or by other body unincorporate for registration of business carried on by such body in Hong Kong.
(4) Form 1(d) (PDF:890KB) – Application for registration of branch business carried on in Hong Kong.

When to Collect Business Registration Certificate





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So you want to be a business development manager? #business #lenders

#business development manager

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So you want to be a business development manager?

Business development managers are the cornerstone of any successful organisation because they ultimately generate new revenue and help a company grow. But what does the job involve on a day-to-day basis? We explore in more detail.

What are the main responsibilities?

The primary objective is to identify new business opportunities. What form this takes will depend on the exact nature of the company. But you ll more than likely be looking to identify new markets, new partnerships, new ways to reach existing markets, or new product or service offerings to better meet the needs of existing markets. And then you ll be expected use these opportunities to bring in more revenue.

How that happens exactly depends on the industry. It can be a combination of attending events and networking, taking stands at exhibitions and conferences, cold calling, and responding to incoming leads. You will also more than likely be expected to identify partner opportunities to cross and up sell services.

What will I be doing on a day-to-day basis?

While it can be difficult to generalise, most business development managers will be expected to:

  • Generate leads and cold calling prospective customers
  • Develop opportunities in target markets with support of marketing
  • Nurturing and developing relationships with key customer accounts
  • Attending face-to-face meetings with clients
  • Providing specialist advice on the products and/or services you re selling

What are the other aspects involved in the job?

You ll more than likely be looking to identify new markets, new partnerships, new ways to reach existing markets, or new product or service offerings to better meet the needs of existing markets.

You ll need to negotiate pricing with clients in line with internal guidelines. You ll also need to keep your superiors updated on both your progress and timeline, providing them with accurate forecasting of anticipated sales.

This being a sales role, you will be subject to sales and KPI targets; this is a crucial part of the role. With face-to-face client meetings key, you ll be expected to travel although the extent to which this is the case will depend on where the job is based. If you re based in London, you may find that the majority of your meetings are in the capital. But if your employer is based elsewhere in the South-East, Midlands or the North, you may be required to travel a substantial amount.

How much can I expect to earn?

Our Salary Survey shows that salaries vary depending on sector and location. For example, an IT business development manager can expect to earn 50 70k in the North of the UK and 50 75k in the South-East. Similarly, a B2B business development manager can expect to earn 30 45k in the North and 35 50k in London and the South-East. But all these figures are basic salary exclusive of benefits/bonuses. Actual earning potential will be far higher than this.

What knowledge and experience is required?

To secure a business development manager job, you ll need a strong sales track record. Specifically, hiring companies look for a proven ability to hit targets, a consistent background of winning new business and often relevant sector experience. A good book of contacts is also looked upon favourably.

In terms of personality traits, employers generally look for people who are articulate, polished and professional who have a good telephone manner. A self-motivated and disciplined approach is essential.





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Canadian Business May Be Shut Down: Sources #micro #business #ideas

#canadian business magazine

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Canadian Business May Be Shut Down: Sources

Canadian Business, the country’s oldest publication of its kind, may be on the verge of closing its doors after 87 years.

Rogers Media Inc. which owns Canadian Business, is looking at shuttering the publication, several company sources told The Huffington Post Canada.

Canadian Business is losing subscribers and “there is no money to be had,” Phil Lind, the vice-chairman of the board at Rogers Communications told HuffPost on Monday.

The company’s venture into Texture, the re-named magazine ap p first launched as Next Issue, hasn’t been as profitable as expected, he added, and Rogers’ television stations are also struggling.

Maclean’s Magazine — Rogers’ national current affairs publication — is “not yet” on the chopping block, Lind said.

Rumours of Maclean’s demise have been percolating for over a decade. “It could be a year away, or it could be five years away,” another source said.

Last month, Rogers announced it was slashing approximately 200 jobs. or four per cent of its workforce. Pink slips in conventional television, radio, publishing and back-office positions are already going out the door, and more are expected to follow.

In a memo to staff. Rogers cited a “softening advertising market, fierce competition from global players, and shifting audience consumption habits” among its reasons for reducing headcount.

“This was not an easy decision, but it was right for our business long-term,” the memo read. “While difficult, these changes are essential to delivering on our Rogers 3.0 plan and to position us for continued success and future growth while helping us effectively manage costs.”

It’s unclear whether the company will seek a new buyer for Canadian Business or will “run the publication into the ground,” as another executive put it.

“We do not comment on rumours or speculation.”

Canadian Business editor-in-chief James Cowan expressed surprise when first contacted two weeks ago about his magazine’s future. Cowan said he had not heard any talk about “shuttering” the publication.

In an unsolicited email, Rogers Media’s senior director of communications Andrea Goldstein wrote: “We do not comment on rumours or speculation.”

On Tuesday, Goldstein said “there are no plans at this time” to close any of Rogers’ 57 publications.

Canadian Business is a multiple award-winning magazine. With a posted circulation of 85,027, Rogers says the outlet has approximately 335,000 unique visitors monthly — a count that refers to the number of times a device, app, smartphone or desktop, visits the publication online.

Founded in Montreal in 1928 as the official newsletter of the Canadian Chamber of Commerce, Canadian Business became available to the general public two years later. Two ownership changes later, Rogers took over the publication when it made a hostile takeover bid for Maclean Hunter in 1994. At the time, writer George Garneau noted that analysts predicted the company’s newspaper and magazine holdings were likely candidates for sale “because of their poor financial performance.”

The cuts at Rogers were just the latest in a wave of bad news on the Canadian media front. Several publications closed or announced staff layoffs in recent weeks.

The Guelph Mercury ended its 149-year-old print edition, laying off 23 full-time and three part-time employees on Jan. 29. That same day, the 141-year-old Nanaimo Daily News also closed its doors.

On Jan. 19, Canada’s largest newspaper chain Postmedia announced it was eliminating 90 newsroom positions across the country.


Postmedia CEO Paul Godfrey recently announced layoffs across Canada. (Andrew Francis Wallace/Toronto Star via Getty Images)

A memo from Postmedia CEO Paul Godfrey said the company was consolidating newsrooms between its broadsheet newspapers and Sun Media tabloids in Ottawa, Edmonton, Calgary and Vancouver, and merging sports coverage to help find at least $80 million in savings before the end of fiscal 2017.

Reporters would be writing in an “agnostic” voice, Godfrey said and a new “rewrite” desk will be charged with editing stories to have the “right voice” for specific brands and platforms.

“We will continue to operate our broadsheet newspapers and our tabloid newspapers in their current formats and with the features and focus that our readers have come to expect from their favourite news brands,” read the memo.

Last year, Bell Media cut hundreds of its local news employees mostly in Toronto and Montreal despite announcing it had made a slight profit in a recent quarter.

— With files from Zi-Ann Lum





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Why Alternative Financing Options Might Be Best for Your Small Business #business #colleges

#business financing options

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Why Alternative Financing Options Might Be Best for Your Small Business

The small business financing landscape is continually changing, with more options available to business owners than ever before. About half to two-thirds of these businesses seek financing from a number of places, from owner investments to non-bank sources. As small businesses continue to face challenges when it comes to gaining access to capital and taking advantage of opportunities to grow, it s important that they re seeking the right type of financing for their particular needs. There s been a lot of focus on alternative lending recently, but how do small business owners know when this is the right option to pursue?

One of the most obvious and common answers is that businesses seek financing when they re faced with an unexpected opportunity or challenge that requires quick capital. In my early years as a restaurateur, I built a chain of casual dining restaurants that saw strong growth, solid revenue and profitability. We had all the right elements, but excess cash wasn t one of them. When I was presented with the opportunity to purchase the ideal property for a new location, there was only one issue — I needed $250,000. I was able to get the money quickly from an alternative lender, and I saw the power in this financing option.

In my case and in the experiences of many others, this access to capital provided me the freedom and flexibility to take advantage of a deal that allowed my business to grow. I learned firsthand that when opportunities like these are handled properly, the benefits can be enormous.

Most of the time, small businesses don t have the cash on reserve or an established line of credit that enables them to withdraw the necessary funds for these types of opportunities. Alternative sources of lending help fill that void by giving business owners access, availability and speed. The reality is that traditional banks aren t equipped to do this — and it isn t profitable for them to provide loans of under $200,000.

So what are other situations small businesses often face that may benefit from an alternative source of financing? Check them out:

  • Purchasing discounted inventory, raw material or new equipment at a can t-miss price, such as a restaurant looking to make opportunistic purchases of wine during the holidays or a wholesaler in need of additional warehouse space and forklifts
  • Buying out a partner or to avoid taking on a partner who will own a chunk of the business and profits for life
  • Expanding to new locations
  • Harsh weather that forces a business to close days on end
  • Fluctuations in the economy that impact the bottom line
  • Unexpected occurrences that put pressure on cash flow and require an immediate influx of working capital, such as a refrigerator that stops working in a restaurant or a farmer needing to process the harvest

To determine what type of financing makes sense for your business and situation, you must consider what exactly needs to be funded and the timing. Alternative lending helps provide flexibility of repayment and offers creative options, including small daily payments that fluctuate with sales volume. It s also important for small business owners to understand the rates associated with choosing an alternative lender. This type of financing is more costly than a traditional bank loan because these companies act as liaisons, borrow capital from other financial institutions and guarantee the payment. Essentially, they absorb the risk and the losses when a client defaults. This is also further emphasized when taking into consideration that an application can be underwritten and approved in hours instead of weeks with a bank.

Whether you re a restaurant, retailer or medical practice, examining your situation closely will help determine the best financing option. Gaining access to capital can be the deciding factor in whether or not a small business grows or survives, so choose wisely when it comes to funding.





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Harvard Business Law Review (HBLR) – The Harvard Business Law Review (HBLR) aims to be the premier journal covering the laws of business organization and capital markets #business #websites

#harvard business journal

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This Article addresses mutual fund governance, explaining how it has recently become entangled with the norms and rules of corporate governance. At one level, it is understandable that the Securities and Exchange Commission (SEC) and courts have viewed mutual funds as a type of ordinary corporation. Both mutual funds and corporations are separate legal entities, having directors and shareholders. Directors of each are held to fiduciary duties, charged with serving shareholders’ interests, and expected to aspire to best practices. However, there are fundamental differences between mutual funds and ordinary corporations. This Article contends that these differences have important implications for governance, differences that should lead to the disentanglement of mutual fund governance from corporate governance.

We examine firm lifecycles of 3,081 IPOs from 1996–2012. We find that small IPOs have a different lifecycle than other, larger companies. Within five years of an IPO, only 55% of small capitalization companies remain listed on a public exchange, compared to 61% and 67% for middle and large capitalization companies, respectively. We examine various theories explaining the decline of the small IPO. We find only minor evidence that regulatory changes caused the decline of the small IPO. The decline appears instead to be more attributable to the historical unsuitability of small firms for the public market. Absent economic or market reforms that change small firm quality, further regulatory reforms to enhance the small IPO market are thus unlikely to be effective or bring firms into the public market that have the horsepower to remain publicly listed.

In Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Congress instructed the Securities and Exchange Commission (SEC) to draft rules that would require public companies to report annually on whether their products contain certain Congolese minerals. This unprecedented legislation and the SEC rulemaking that followed have inspired an impassioned and ongoing debate between those who view these efforts as a costly misstep and those who view them as a measured response to human rights abuses committed by the armed groups that control many mines in the Democratic Republic of the Congo. This Article for the first time brings empirical evidence to bear on this controversy.

In 2008, the Securities and Exchange Commission made waves by deciding to regulate the nascent peer-to-peer lending industry. Only two lending platforms survived the SEC’s entry into a previously lightly-regulated market. Under this regulatory setup, the SEC would regulate the lending-investing process, while other agencies like the Consumer Financial Protection Bureau and Federal Trade Commission would regulate the borrower side of the business. This Article argues that the existing bifurcated system works and is continually getting better as the SEC amends existing exemptions and introduces new regulations to smooth the path for financial innovation.

Since 1977, with the enactment of the Foreign Corrupt Practices Act, the United States Department of Justice has played a leading role in applying the Act’s anti-bribery, books and records, and internal controls provisions in enforcement proceedings against numerous companies and individuals worldwide. In November 2015, the Department of Justice took the unprecedented step of hiring a Compliance Counsel to guide its prosecutors in decision-making in corporate prosecutions and in benchmarking corporate compliance. This Memorandum is composed as an open letter to the Compliance Counsel, focusing on how she and the Department of Justice should go about that critical benchmarking function.

Eric J. Chang’s provocative article, www.PayDayLoans.gov: A Solution for Restoring Price-Competition to Short-Term Credit Loans—which, as its title suggests, proposes to facilitate price competition in the payday lending market by creating a federal online exchange for payday lenders to post lending rates—has sparked thoughtful reactions among consumer borrowing experts. This Response provides constructive criticism to Chang’s proposal, arguing that such an exchange is unlikely to meet its goal of restoring price competition and offering tweaks that would raise the likelihood of doing so.





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