Tag: Beginners)

Business Checking Fees: A Beginner’s Guide #own #business #ideas

#free business checking

#

Credit Cards

Banking

Investing

Mortgages

Loans

Insurance

Credit Cards

Banking

Investing

Mortgages

Loans

Insurance

Many of the offers appearing on this site are from advertisers who compensate us to be listed on our site.

The results of our “banking comparison tool” are based on objective, quantitative and qualitative analysis of the banking products’ attributes and are not affected by compensation.

Compensation may impact which products we review and write about and how and where they appear on this site including, for example, the order in which they appear.

Any evaluation, advice, opinion or guidance provided by us or editorialized by us within this website such as bank reviews, product reviews or editorial content is in no way affected by or based upon compensation from our advertisers.

Additionally, our star ratings are a mix of user feedback and NerdWallet’s independent evaluation which are independent of compensation.

For a list of all of our advertising partners, click here

Business Checking Fees: A Beginner’s Guide

You can trust that we maintain strict editorial integrity in our writing and assessments; however, we receive compensation when you click on links to products from our partners and get approved. Here’s how we make money .

Business checking accounts differ markedly from personal checking, and the fees can be far more complicated. But if you understand the basics of business checking fees, your company might be able to minimize or avoid them altogether.

Here’s a look at three of the most common fees.

Monthly service fee

What it is: A charge that occurs each month the account is open.

How much it is: The nation s largest banks typically charge $8 to $12 a month.

You can also select a business bank account at a bank where you meet the average balance requirement to waive the monthly fee. A typical bank requires an average daily balance of about $1,500 to avoid this charge. Some banks will also waive the fee if you meet other conditions, such as making a minimum number of debit or credit card card purchases each month.

Excess transaction fee

What it is: A fee for each transaction you make over a monthly maximum.

How much it is: At the 10 largest banks, fees range up to 75 cents per transaction.

How to avoid it: Come up with a ballpark number of transactions your small business will make each month. These include checks you write, debit card transactions and ATM deposits. Then look for a bank account that allows that number of transactions without charging extra fees.

Most of the top 10 U.S. banks by deposits have a 200-transaction limit on their basic business checking accounts before fees are charged. At banks that offer business checking accounts with no monthly fee, the transaction limit tends to be lower, often around 100.

Cash handling fee

What it is: You can deposit only a certain amount of cash at many banks. After that, you’ll be charged a fee to process all those bills and coins.

How much it is: Usually about 20 cents to 30 cents for each $100 you deposit above the cash handling limit.

How can I avoid it? Estimate how much cash you’ll deposit each month. Then choose a checking account with a higher cash handling limit.

You ll have an easier time avoiding fees if your small business doesn t have a ton of cash transactions. But if you do handle a lot of cash — you own a restaurant or a convenience store, for example — you could lower your costs by shopping around.

Say you own a deli and expect to deposit about $10,500 in cash each month:

  • Option 1: Bank A allows up to $7,500 in cash deposits a month and charges 30 cents for every additional $100 you deposit during a statement period. You re $3,000 over the cash deposit limit. Since you’re charged 30 cents for each $100, you’d multiply 30 cents by 30. Your cash handling fee would be $9 for the statement period.
  • Option 2: Bank B allows $5,000 in cash deposits and charges 25 cents for every additional $100 you deposit during its statement cycle. You have $5,500 in excess cash deposits. Since you’re charged 25 cents for each $100, you’d multiply 25 cents by 55. That’s a cash handling fee of $13.75 for the statement cycle.

Reducing your business checking fees can be an easy way to help your company cut costs. To learn more, check out NerdWallet’s small business checking primer .

This article was updated June 28, 2016.

You may also like





Tags : , , , , ,

100 List of Best Small Business ideas for Beginners 2016 #new #business #loans

#small business ideas

#

Do you need ideas to start a profitable online business as an entrepreneur? If YES, here are top 100+ list of best small business ideas for beginners in 2016 with little or no money .

Starting a business is one of the best decisions that you can take, but on the other hand, if you don’t start the right business for you, then you are likely going to get frustrated and lose your investment. So, it is very important to ensure that you are certain of the business you intend starting before committing your finance and time.

Although it might be a bit difficult to know the right business to start especially when you are confronted with numerous business ideas and opportunities, but if you consider certain key factors before making your choice, then you would have succeeded in choosing the right business.

  • Kick-Ass Millionaire Mentorship Academy On the 1 st of January 2014, we launched a Business Mentorship Program for serious entrepreneurs that want to learn what it takes to grow from an idea into a private or publicly quoted million dollar company. Admission into this program cost $497 per year but we are giving Free Lifetime Access to Only 100 Readers of ProfitableVenture.comand this offer ends this week (Since 1st of January 2014, we have helped 21,058+ budding entrepreneurs start their own businesses. Let s help you launch your own business ). Click Here Now to Apply for a Free Lifetime Access .

It is important to state that the right business for Mr. A might not be the right business for Mr. B. The right business is dependent on loads of factors unique to the individual who wants to start a business.

If you don’t want to make mistake when it comes to starting a business, then you need to carefully access the business opportunities around you and then match it with your skills or in some cases the finance available to you. One good thing about starting the right business is that you will struggle less to achieve results and meet your goals and targets.

Best Small Business ideas in 2016 for:

Career Related Business ideas for First Time Entrepreneurs

Location Based Business ideas for Starters

Seasonal Business ideas for Dummies

List of Small Business ideas for Beginners in 2016

Now let us quickly consider 7 surefire tips that will help you know the right business to start if you truly don’t want to make any mistake in investing your money in the wrong business;

How to Know the Right Business to Start in 2016

1. List the Business Opportunities around You

One of the steps that you are expected to take if you want to know the right business to start is first to list all the business opportunities within your reach. Once you are able to list all the business opportunities around you, it will be easier for you to critically examine them one after the other and then prune it to a minimum number that will make it easier for you to make a choice.

2. Do a Self Skill Audit

Another means that will aid you to know the right business to start is to conduct a self skill audit. It is easier to start a business around your skill sets because people perform pretty great when they perform tasks that are in the area of their skill strength. A good skill audit will not only help you discover your skill set, but also help you rate your skills.

3. Conduct Feasibility Studies

Once you have been able to stream line the business opportunities or ideas within your disposal, the next step that you should take is to conduct feasibility studies to know what it truly takes to start the business. The truth is that, when you conduct feasibility studies you will be able to discover details about the business you intend starting. The information you will get from your feasibility studies will guide you in choosing the right business.

4. Ask Loads of Questions

Another method of knowing the right business to start is to ask loads of questions when you have the opportunities to ask. It is a popular saying that ‘a man who asks questions never misses his way’. As such, ensure that you ask entrepreneurs who are already in the line of the business t loads of questions about the business. You can as well ask people around to know the type of business that they will be willing to patronize.

5. Enroll in an Entrepreneurial College

If you are confused and you don’t know the right business to start, then it will pay you to enroll in any entrepreneurial college around you to learn the rudiments of starting and sustaining a business. There are several entrepreneurial schools that an entrepreneur can acquire the right skills to be able to start their own business. You can search online to locate the closest entrepreneurial college in your location.

6. Understudy Someone Who is Running Same Business That You Intend Starting

Before making your final decisions on the business to start, it is advisable to understudy someone who is already running the type of business that you intend starting. It will give you a clearer perspective on the business and also you will be able to know the financial commitment required in starting and running such business.

7. Take a Personality Test

Starting a business should not based on the viability of the business or the profits you stand to gain in the business, but to know if you are compatible with the business. For example, if you know that you are extremely quiet and you are a core phlegmatic, then starting a sales and marking business might not be the right business for you. It is important to take a personality test to discover your temperament before making your choice on the business to start. You can search online for free personality test or for paid personality test.

People should not just start a business simply because it is trending and it is also profitable. Loads of people join the bandwagon when it comes to starting a business and they ended up regretting such moves because they ended up getting their fingers burnt.





Tags : , , , , , , , , ,

How to Buy Penny Stocks (for Beginners) #office #depot #business

#penny stocks

#

How to Buy Penny Stocks (for Beginners)

NEW YORK (TheStreet ) — It’s hard to check your email without hearing about the next “hot” penny stock that’s going to make you rich. But what are penny stocks, and can they really deliver on those promises? Here’s my 2 cents worth on penny stocks.

What Are Penny Stocks?

Low-priced, small-cap stocks are known as penny stocks. Contrary to their name, penny stocks rarely cost a penny. The SEC considers a penny stock to be pretty much anything under $5. And while there are sub $5 stocks trading on big exchanges like NYSE and NASDAQ. most investors don’t think of these when asked to describe a penny stock.

Most individual investors look at penny stocks like Wall Street’s Wild West, an untamed world of investing detached from all the glitz and media coverage that comes with stocks that are traded on major exchanges. While the gains and losses can be pretty impressive in the penny stock world, they’re not often heard about elsewhere.

Just because you don’t hear about penny stocks every day on CNBC doesn’t mean that penny stocks are without drama. Unfortunately, penny stocks have also garnered a reputation as a game filled with scams and corruption. Indeed, penny stocks could be your wildest ride yet as an investor.

So then, if penny stocks usually aren’t traded on normal exchanges, where can you buy them?

How to Buy Penny Stocks

Like any other stock you would buy, you can purchase shares of a penny stock through your normal stockbroker — regardless of whether or not it’s listed on a major exchange.





Tags : , , , , , ,

100 List of Best Small Business ideas for Beginners 2016 #business #jobs

#small business ideas

#

Do you need ideas to start a profitable online business as an entrepreneur? If YES, here are top 100+ list of best small business ideas for beginners in 2016 with little or no money .

Starting a business is one of the best decisions that you can take, but on the other hand, if you don’t start the right business for you, then you are likely going to get frustrated and lose your investment. So, it is very important to ensure that you are certain of the business you intend starting before committing your finance and time.

Although it might be a bit difficult to know the right business to start especially when you are confronted with numerous business ideas and opportunities, but if you consider certain key factors before making your choice, then you would have succeeded in choosing the right business.

  • Kick-Ass Millionaire Mentorship Academy On the 1 st of January 2014, we launched a Business Mentorship Program for serious entrepreneurs that want to learn what it takes to grow from an idea into a private or publicly quoted million dollar company. Admission into this program cost $497 per year but we are giving Free Lifetime Access to Only 100 Readers of ProfitableVenture.comand this offer ends this week (Since 1st of January 2014, we have helped 21,058+ budding entrepreneurs start their own businesses. Let s help you launch your own business ). Click Here Now to Apply for a Free Lifetime Access .

It is important to state that the right business for Mr. A might not be the right business for Mr. B. The right business is dependent on loads of factors unique to the individual who wants to start a business.

If you don’t want to make mistake when it comes to starting a business, then you need to carefully access the business opportunities around you and then match it with your skills or in some cases the finance available to you. One good thing about starting the right business is that you will struggle less to achieve results and meet your goals and targets.

Best Small Business ideas in 2016 for:

Career Related Business ideas for First Time Entrepreneurs

Location Based Business ideas for Starters

Seasonal Business ideas for Dummies

List of Small Business ideas for Beginners in 2016

Now let us quickly consider 7 surefire tips that will help you know the right business to start if you truly don’t want to make any mistake in investing your money in the wrong business;

How to Know the Right Business to Start in 2016

1. List the Business Opportunities around You

One of the steps that you are expected to take if you want to know the right business to start is first to list all the business opportunities within your reach. Once you are able to list all the business opportunities around you, it will be easier for you to critically examine them one after the other and then prune it to a minimum number that will make it easier for you to make a choice.

2. Do a Self Skill Audit

Another means that will aid you to know the right business to start is to conduct a self skill audit. It is easier to start a business around your skill sets because people perform pretty great when they perform tasks that are in the area of their skill strength. A good skill audit will not only help you discover your skill set, but also help you rate your skills.

3. Conduct Feasibility Studies

Once you have been able to stream line the business opportunities or ideas within your disposal, the next step that you should take is to conduct feasibility studies to know what it truly takes to start the business. The truth is that, when you conduct feasibility studies you will be able to discover details about the business you intend starting. The information you will get from your feasibility studies will guide you in choosing the right business.

4. Ask Loads of Questions

Another method of knowing the right business to start is to ask loads of questions when you have the opportunities to ask. It is a popular saying that ‘a man who asks questions never misses his way’. As such, ensure that you ask entrepreneurs who are already in the line of the business t loads of questions about the business. You can as well ask people around to know the type of business that they will be willing to patronize.

5. Enroll in an Entrepreneurial College

If you are confused and you don’t know the right business to start, then it will pay you to enroll in any entrepreneurial college around you to learn the rudiments of starting and sustaining a business. There are several entrepreneurial schools that an entrepreneur can acquire the right skills to be able to start their own business. You can search online to locate the closest entrepreneurial college in your location.

6. Understudy Someone Who is Running Same Business That You Intend Starting

Before making your final decisions on the business to start, it is advisable to understudy someone who is already running the type of business that you intend starting. It will give you a clearer perspective on the business and also you will be able to know the financial commitment required in starting and running such business.

7. Take a Personality Test

Starting a business should not based on the viability of the business or the profits you stand to gain in the business, but to know if you are compatible with the business. For example, if you know that you are extremely quiet and you are a core phlegmatic, then starting a sales and marking business might not be the right business for you. It is important to take a personality test to discover your temperament before making your choice on the business to start. You can search online for free personality test or for paid personality test.

People should not just start a business simply because it is trending and it is also profitable. Loads of people join the bandwagon when it comes to starting a business and they ended up regretting such moves because they ended up getting their fingers burnt.





Tags : , , , , , , , , ,

Business Checking Fees: A Beginner’s Guide #online #business #loans

#free business checking

#

Credit Cards

Banking

Investing

Mortgages

Loans

Insurance

Credit Cards

Banking

Investing

Mortgages

Loans

Insurance

Many of the offers appearing on this site are from advertisers who compensate us to be listed on our site.

The results of our “banking comparison tool” are based on objective, quantitative and qualitative analysis of the banking products’ attributes and are not affected by compensation.

Compensation may impact which products we review and write about and how and where they appear on this site including, for example, the order in which they appear.

Any evaluation, advice, opinion or guidance provided by us or editorialized by us within this website such as bank reviews, product reviews or editorial content is in no way affected by or based upon compensation from our advertisers.

Additionally, our star ratings are a mix of user feedback and NerdWallet’s independent evaluation which are independent of compensation.

For a list of all of our advertising partners, click here

Business Checking Fees: A Beginner’s Guide

You can trust that we maintain strict editorial integrity in our writing and assessments; however, we receive compensation when you click on links to products from our partners and get approved. Here’s how we make money .

Business checking accounts differ markedly from personal checking, and the fees can be far more complicated. But if you understand the basics of business checking fees, your company might be able to minimize or avoid them altogether.

Here’s a look at three of the most common fees.

Monthly service fee

What it is: A charge that occurs each month the account is open.

How much it is: The nation s largest banks typically charge $8 to $12 a month.

You can also select a business bank account at a bank where you meet the average balance requirement to waive the monthly fee. A typical bank requires an average daily balance of about $1,500 to avoid this charge. Some banks will also waive the fee if you meet other conditions, such as making a minimum number of debit or credit card card purchases each month.

Excess transaction fee

What it is: A fee for each transaction you make over a monthly maximum.

How much it is: At the 10 largest banks, fees range up to 75 cents per transaction.

How to avoid it: Come up with a ballpark number of transactions your small business will make each month. These include checks you write, debit card transactions and ATM deposits. Then look for a bank account that allows that number of transactions without charging extra fees.

Most of the top 10 U.S. banks by deposits have a 200-transaction limit on their basic business checking accounts before fees are charged. At banks that offer business checking accounts with no monthly fee, the transaction limit tends to be lower, often around 100.

Cash handling fee

What it is: You can deposit only a certain amount of cash at many banks. After that, you’ll be charged a fee to process all those bills and coins.

How much it is: Usually about 20 cents to 30 cents for each $100 you deposit above the cash handling limit.

How can I avoid it? Estimate how much cash you’ll deposit each month. Then choose a checking account with a higher cash handling limit.

You ll have an easier time avoiding fees if your small business doesn t have a ton of cash transactions. But if you do handle a lot of cash — you own a restaurant or a convenience store, for example — you could lower your costs by shopping around.

Say you own a deli and expect to deposit about $10,500 in cash each month:

  • Option 1: Bank A allows up to $7,500 in cash deposits a month and charges 30 cents for every additional $100 you deposit during a statement period. You re $3,000 over the cash deposit limit. Since you’re charged 30 cents for each $100, you’d multiply 30 cents by 30. Your cash handling fee would be $9 for the statement period.
  • Option 2: Bank B allows $5,000 in cash deposits and charges 25 cents for every additional $100 you deposit during its statement cycle. You have $5,500 in excess cash deposits. Since you’re charged 25 cents for each $100, you’d multiply 25 cents by 55. That’s a cash handling fee of $13.75 for the statement cycle.

Reducing your business checking fees can be an easy way to help your company cut costs. To learn more, check out NerdWallet’s small business checking primer .

This article was updated June 28, 2016.

You may also like





Tags : , , , , ,

How to Buy Penny Stocks (for Beginners) #new #business #grants

#penny stocks

#

How to Buy Penny Stocks (for Beginners)

NEW YORK (TheStreet ) — It’s hard to check your email without hearing about the next “hot” penny stock that’s going to make you rich. But what are penny stocks, and can they really deliver on those promises? Here’s my 2 cents worth on penny stocks.

What Are Penny Stocks?

Low-priced, small-cap stocks are known as penny stocks. Contrary to their name, penny stocks rarely cost a penny. The SEC considers a penny stock to be pretty much anything under $5. And while there are sub $5 stocks trading on big exchanges like NYSE and NASDAQ. most investors don’t think of these when asked to describe a penny stock.

Most individual investors look at penny stocks like Wall Street’s Wild West, an untamed world of investing detached from all the glitz and media coverage that comes with stocks that are traded on major exchanges. While the gains and losses can be pretty impressive in the penny stock world, they’re not often heard about elsewhere.

Just because you don’t hear about penny stocks every day on CNBC doesn’t mean that penny stocks are without drama. Unfortunately, penny stocks have also garnered a reputation as a game filled with scams and corruption. Indeed, penny stocks could be your wildest ride yet as an investor.

So then, if penny stocks usually aren’t traded on normal exchanges, where can you buy them?

How to Buy Penny Stocks

Like any other stock you would buy, you can purchase shares of a penny stock through your normal stockbroker — regardless of whether or not it’s listed on a major exchange.





Tags : , , , , , ,