LucyB | Corpnet Incorporation Services

Why Should I Incorporate My Business?

by LucyB

1 January 1st, 2012

Well, there are several reasons. Incorporating your business has many advantages that will make it easier for you to operate and maintain your company, without being personally liable for any losses.

Perhaps the most important reason to incorporate is to protect your personal assets. This holds true for whichever business entity structure you choose, whether it is incorporation, LLC (limited liability corporation), or non profit – but it is not the case for a sole proprietorship or a partnership. If an incorporated business fails, or a dissatisfied customer or supplier brings a suit against it, only the corporate holdings are liable. Your personal property and finances will all be safe from legal action, as long as the business has not committed any fraudulent activity.
Read More→

Categories Choosing A Business Structure
Comments (1)

Small Business Record Keeping 101

by LucyB

1 November 30th, 2010

Whether you keep your own books or hire someone to do it for you, keeping track of your business income and expenses is a significant aspect of your job as a business owner. The type of records you keep depends on the type of business you own. If you are selling a product, lease office space, and deal with vendors, suppliers and individual customers, your system will be more in-depth than someone who works from a home office selling editing services, for example.

Any recordkeeping system should clearly show your income and expenses. Keep accurate records in ledgers and journals to show a summary of your business transactions. Your books must show your gross income, as well as your deductions and credits. For most small businesses, this information is reflected in the business checkbook. Read More→

Categories Running A Small Business, Small Business Employees, Small Business Tax Issues, Starting a Business
Comments (0)

Protecting Your Big Idea – Intellectual Property

by LucyB

1 April 2nd, 2010

If you’ve ever seen a new product advertised and said, “I’ve thought of that very same thing! Why didn’t I pursue it?” you know the importance of protecting your ideas. No matter how terrific your idea is, if you don’t protect it and make it exclusively your own, someone else just might beat you to the market.

In business, ideas are often property. They are the seeds for inventions, which require knowledge, time, money and effort to create. And transforming an invention into an innovation, a new product accepted by the marketplace, takes a great deal of effort – and a bit of luck.

Categories Starting a Business
Comments (0)

Considering a Franchise Business Opportunity

by LucyB

1 March 11th, 2010

There’s a scenario in which an aspiring entrepreneur opens a business that has brand recognition, a proven marketing campaign, financial guidance, and even an immediate client base.

Sound too good to be true? Well, think about how excited you were when that new Panera Bread opened in your neighborhood, or how you love coming home the day the Merry Maids have cleaned your house.

These businesses are franchises, and buying one is an option that may appeal to you.

Many potential entrepreneurs are put off by the risk involved in starting a brand-new business, which makes buying a franchise an attractive alternative to going it completely alone. Read More→

Categories Starting a Business
Comments (1)

What Type of Financing Do You Need?

by LucyB

1 March 4th, 2010

When it comes to securing money to start your business, there are two types of financing to consider: equity and debt financing. But before you approach any potential sources, you need to understand your company’s debt-to-equity ratio. This is the relation between money you’ve borrowed and money you’ve invested in your business. Obviously, the more money you have invested into the business as opposed to borrowed, the easier it will be to obtain financing.

Conventional wisdom says that if your ratio of equity to debt is high, you should probably seek debt financing. If, on the other hand, your business has a high proportion of debt to equity, it may be wise to increase your ownership capital (equity investment) for additional funds. That will prevent you from becoming over-leveraged to the point of jeopardizing your company’s survival.
Read More→

Categories Finance
Comments (0)

Going Green With Your Business

by LucyB

1 March 3rd, 2010

Are you environmentally aware? Do you bring reusable shopping bags to the supermarket for the organic products you purchase? Do you recycle carefully, and use as few plastic containers as possible?

If you follow an environmentally friendly lifestyle, you might also want to extend that policy to your business. Even if you don’t personally subscribe to the green movement, millions of consumers do, making green business excellent opportunities for entrepreneurs.
Read More→

Categories Running A Small Business
Comments (0)

The Elements of a Business Plan

by LucyB

1 February 26th, 2010

Whether your business is large or small, home-based or in a commercial location, whether you are the sole proprietor or developing your business with partners, and particularly if you are looking for investors in your business, a well-written business plan is essential. If nothing else, your business plan will help you to remember why you went into business in the first place.

The size of your business and your intentions for its future will dictate how much detail you need to go into in your business plan. Here are the major components of a good business plan. Read More→

Categories Starting a Business
Comments (2)

Author Archive for LucyB

Why Should I Incorporate My Business?

Small Business Record Keeping 101

Protecting Your Big Idea – Intellectual Property

Considering a Franchise Business Opportunity

What Type of Financing Do You Need?

Going Green With Your Business

The Elements of a Business Plan

Hot Videos

Categories

Recent Posts