The Launch Blog: Expert Advice from the CorpNet Team

Post-COVID Marketing Strategies for Accountants

Clients need their accountants more than ever in our post-COVID-19 world. Whether it’s getting ready for the extended tax deadline, figuring out how to utilize government relief funds or how to start a new business in a recession, accountants need to make sure their services are in the foreground of their customers’ needs. Here are five post-COVID marketing strategies for accountants to win and keep clients for the long-term. Establish the Business as Post COVID-19 Experts As the economy struggles to get back on track and clients have specific questions on how to file [...]

July 1st, 2020|Categories: Crisis Management|Tags: |

Sole Proprietorship vs. Partnership

You have much to think about and many questions to answer when starting a business. One of the most fundamental considerations is what type of business structure is right for you. Often, brand new small businesses choose to operate as a sole proprietorship or general partnership. Would either be a good fit for you? You might be wondering, sole proprietorship vs. partnership—what’s the difference? In this article, I’ll share information about the similarities and differences between the two business structures and some thoughts about other business entity types to consider. This information should help [...]

June 23rd, 2020|Categories: Startup and Launch|

4 Reasons Why a Recession Is a Good Time for Your Clients to Start a Business

With all the uncertainty in the world right now, you might think your clients are crazy to consider starting a business in 2020, but don’t be so sure. There are numerous examples of successful businesses that started during a recession, including Microsoft and Burger King. Startup entrepreneurs are inherently bootstrappers and agile thinkers, willing to put in the time and effort to hurdle any problem thrown their way, including a weaker economy. The latest survey from SCORE looked at The Impact of COVID-19 on Startups and found 18.4% of startups have scaled their launch [...]

June 18th, 2020|Categories: Startup and Launch|Tags: |

How to Change from a Sole Proprietor to an LLC

Many determined individuals begin their entrepreneurial journey by operating their business as a sole proprietorship. It's no wonder why. As a sole proprietor, the costs to start and legal formalities to maintain a business are less than when registering as other types of business entities. However, there are drawbacks to being a sole proprietor. The most significant downside is that the business owner is personally responsible for all debts and legal liabilities of the company. It's common for entrepreneurs to consider changing from a sole proprietor to an LLC as their business grows and [...]

June 15th, 2020|Categories: Growth and Expansion|

How Smart Businesses are Pivoting to Find Success in the Midst of COVID-19

Business owners are constantly moving. Whether it’s tracking new trends, operating the shop, meeting with clients, or attending networking events, you’d think there can’t be one more thing to add to their plates. And then, COVID-19 hit. As business owners ourselves, we saw a new kind of busy that was one of pivoting to meet new demands in a time of crisis. Pivoting business focus is not something unique to the time of coronavirus. Being able to quickly change or redirect a business is one of the hallmarks of entrepreneurship. Fortunately, smart business owners [...]

June 15th, 2020|Categories: Crisis Management|

Marketing in the New Normal of COVID-19

Things are different today due to the global coronavirus pandemic. While we may eventually get back to some version of normal, when that happens is subject to much debate. COVID-19 changed how business gets done, from suppliers and distribution to sales and marketing, the world functions in a different way. So while we all adapt to the “new normal”, the messages we send to our customers will have to change. Our customers’ needs have changed, and they have understandably rearranged their priorities over the past few months. They’re more patient and have learned how [...]

June 11th, 2020|Categories: Crisis Management|

How To Safely Reopen Your Small Business to the Public

As the country makes plans to reopen restaurants, retail, public buildings, and schools, your topmost concern should be the safety and well-being of workers and customers alike. Your reopened business will be scrutinized and the measures you take to reopen safely will go a long way in how your clients and customers feel about supporting your company post-pandemic. The risks are still real so it’s important to be scrupulous in formulating your reopening plan and how you execute it. Below are a few tips and suggestions to help you safely reopen your small business [...]

June 3rd, 2020|Categories: Crisis Management, Ongoing Management and Protection|

Sole Proprietorship vs. LLC

Are you considering starting a business as a solo owner, or will you co-own the business with your spouse? Then, you may be wondering if operating as a sole proprietorship or a limited liability company (LLC) will be the better choice. What are the advantages and disadvantages of a sole proprietorship vs. LLC business structure? In this article, I'll highlight the potential pros and cons of each to help you in your research efforts. Keep in mind that there are legal, financial, and tax-related implications when choosing a business structure. Therefore, I encourage you [...]

June 3rd, 2020|Categories: Startup and Launch|

Business Ideas for People Who Love the Outdoors

If you love the outdoors and have always wanted to start a business relating to your outdoor passion, now is a great time to take advantage of the country’s desire for outside activities. Here are some outdoor business ideas and trends you need to know to get you running on the right path to business success.

June 2nd, 2020|Categories: Startup and Launch|

Do You Need an LLC for a Hard Money Loan?

Do you need a register an LLC to obtain a hard money loan for your real estate investment? Let's explore the LLC and hard money loans so you can decide. Limited Liability Companies When it comes to investing in real estate, most investors choose to create a separate legal entity to purchase a property. The reason? To protect personal assets from liabilities associated with real estate transactions. Moreover, the Limited Liability Company (LLC) business structure has become a preferred entity of real estate investors for some very good reasons. The LLC business structure offers [...]

June 1st, 2020|Categories: Seed and Development|

Time for a Change? The What and How of Business Entity Conversion

The one constant is change. Forgive the cliché, but I think it’s an appropriate introduction as I address the topic of business entity conversions. Your clients' businesses evolve over time — and the business environment in which they operate changes as well, especially at a time like this when the COVID-19 pandemic is having such a far-reaching impact on businesses of all kinds. As a result, the business structure they chose as a startup may no longer be the most advantageous one for their current situation. What happens at that crossroads? It might be [...]

June 1st, 2020|Categories: Ongoing Management and Protection|

How to Start a Small Business on Etsy

Etsy has given artists, crafters, and collectors a highly visible online marketplace for selling their own-made arts and crafts, vintage items, and crafting supplies. Are you a talented, hands-on individual with a vision of offering your creations to customers across the United States or even beyond? Then you have probably wondered how to start a small business on Etsy. I can understand why! The number of active buyers on Etsy has increased steadily over the years, going from 9.3 million in 2012 to over 46.3 million in 2019. The number of sellers who have [...]

May 26th, 2020|Categories: Startup and Launch|

What is a Holding Company?

Many business owners operate multiple businesses and there’s a good reason for that: Once you have one business and business structure in place, it’s much easier to get a new business off the ground than if you had to start from scratch each time. At some point in your entrepreneurial life you may come upon an idea or opportunity too good to pass up. But you have no intention to stop operating your current business. So, the question becomes how should you structure the new business—should it be a part of the original business, [...]

May 26th, 2020|Categories: Growth and Expansion|

How to Move A Business To Another State

When you move from one house to another, you likely have a checklist of things you need to take care of in the process…changing your mailing address, calling your cable TV provider, contacting your internet company. But when moving your business to another state, many business owners don’t know where to begin. There are many reasons to consider moving your business to another state. For example: Your target market has changed—economically and/or demographically. The cost of real estate (including property taxes) has risen so much your business is at risk of going under. The [...]

May 26th, 2020|Categories: Ongoing Management and Protection|

How to Legally Start a Nonprofit Business

There is nothing more fulfilling than directing time and energy toward helping others in need. If you're passionate about a cause, you may have wondered how to start a nonprofit business. Some aspects of starting a nonprofit organization are similar to starting a for-profit business, but nuances exist. Incorporating a nonprofit can be confusing and complicated. Let’s dive into what it means to be a nonprofit organization and explore some of the considerations and steps involved in becoming one. Please keep in mind that the information that I'm about to provide in this article [...]

May 18th, 2020|Categories: Startup and Launch|
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