Starting a business in a tough economy can be done, say our experts, as long as you follow these key steps
If the government is going to give anyone tax breaks, they should give them to people like me before I became an entrepreneur
Starting up your business in a methodical way will not only help you determine exactly how your business will function and succeed, but it's also an opportunity to assess your own skills as an independent business owner
THE BUSINESS PLAN:
Introductory Elements |
Business Description |
The Market |
Development and Production |
Sales and Marketing |
Business Plan FAQ | Balance Sheet Glossary | Effective Competitive Analysis
Determining how to structure your business is a potentially complicated decision
TYPES OF STRUCTURES:
PR, or public relations, is how your business interacts with the public, frequently via media outlets. Large companies often make PR a subset of their larger marketing efforts, but for a small business, PR can be especially important because it may be the only marketing available
SAMPLE PRESS RELEASES:
As with many areas of small business, the best defense against a cash flow crisis is a good offense
- Top Six Pricing Mistakes
- Tactics to Avoid Lowering Your Prices
- Managing Purchasing to Maximize Cash Flow
- 10 Ways to Help Increase Your Cash Flow
- Cash vs Accrual Accounting
- Developing Accurate Financial Projections
- Bookkeeping and Record Keeping Basics
- Quick Ways to Get Through a Cash Crunch
- Projecting Cash Flow
- Cash Flow Triage
Hunting for funding can lead you in many different directions. Here's how to get started
- Give Yourself the Money Hunting Edge
- Small Business Investment Corporations (SBIC)
- Traditional Funding Sources
- Non-Traditional Funding Sources
- Your Company's Credit
- Credit Terms at a Glance
- How to Read a Business Credit Report
- How to Protect and Improve Your Business Credit Rating
- Financing Through Factoring
SMALL BUSINESS INSURANCE:
As a small business owner, every employee you hire is a crucial part of your team. That's why hiring staff is one of the most important challenges for anyone getting a small business off the ground
While it takes some effort on your part to make a relationship with your accountant pay off, the investment of time can reward your business in many ways
Here's a look at Small Business Resources, helping you understand what's available and how to make it work for you
Sometimes the hardest part of running a small business is knowing when it's OK to take a break. After building the business from the ground up, it's hard to separate where work stops and the rest of your life begins. Nevertheless, it's safe to say that taking some time away from work will make you more productive in the long run
Remember that tax season will be upon us before you know it. Leaving everything for a last-minute cram session could disrupt your business in the spring. To avoid a crunch, here's how to prepare for tax deadlines well in advance
- Year-End Planning Tax Savers
- 10 Ways to Pay Less in Tax
- 25 Common Business Deductions and Expenses
- Avoid These Common Errors and Audit Triggers
- Understanding the Home Office Deduction
- Corporate Income Taxes Primer
- Employment Taxes Primer
- Sales Tax Primer
- Sole Proprietorships and Partnerships Tax Primer
- How to Get a Filing Extension
- Year-End Reconciliation
Use Facebook right, and you'll boost your business image -- and your profits. Here's how
Many people know that Google and Facebook were started in dorm rooms. But a business doesn't have to be a household name, or even a dot-com, to make real money. Enterprising students are learning that the best, and most lucrative, jobs on campus can be the ones they create themselves. And they're doing it in ever-increasing numbers
President Obama's new goal of raising tax rates to nearly 40 percent would kill small businesses and force others to dump employees onto unemployment lines, warns a trade association that represents franchises like Chick-fil-A, Dunkin' Donuts, RE/MAX and McDonald's
Fewer Americans are working for themselves. According to the Bureau of Labor Statistics, the number of self-employed Americans went down by 2.1 million to 14.5 million in August
When it comes to the mobile cloud, small businesses lead the way
If your organization wasn't ready to deploy the iPad before, now might be the time. Here's what to consider.
Want to enhance your brand with online video? Our expert blogger from VideoGenie tells you how
While 'startup' has become a buzzword, there actually aren't that many of them, a new report shows. Which means that while new businesses may be raising the bar on innovation, they aren't creating enough of what our economy needs most: jobs
What if you could make money doing what you already know and what you're passionate about doing? We're all experts at something. Everyone has their own abilities, skills and unique life experiences that they can share with others. Why not make a business out of it?
If you're self-employed and yearning to shelter some of your income from taxes, you probably know all about SEP-IRAs, the retirement plan for small-business owners. But do you know about so-called solo 401(k)s?
With new technologies that make it cheaper to start your own business and a widespread need to earn additional income during the recession, more professionals are taking on paying projects in addition to their day jobs. Whether you're selling a service or promoting a product or driving traffic to a website, juggling a business on the side is the new nine-to-five
Thanks in part to high unemployment and poor prospects for middle-aged job seekers, more people than ever are now considering starting a small business. Here's a compilation of risks and benefits to help you out
An estimated five million women across the country have hired themselves as head honchos and launched their own home-based business. With many working moms out of a job and at-home moms eager to bring in extra income, the idea of being your own boss is becoming more attractive than ever. Here's how you can get started on a business and make it blossom
Apple hasn't been a huge player in the business market. For the past 20 years or so, small businesses have mostly chosen Windows-based PCs over Macs -- and Macs are, after all, more expensive. Although it's unlikely that any major changes are in store, Apple has opened a new front in the small-business market with the iPad. Here's the pros and cons of an iPad for your small business
Web-based tools can now help you get your small business up and running, get legal work done, professionalize your accounting and billing, and collaborate with others. If your home business still needs to get out of the dark ages -- or you want to get off on the right foot -- here is how Web resources can help you get organized
As cloud computing pervades more and more of our everyday lives, it's not surprising that small to midsized businesses are also seeing the benefits. The question is, How exactly do you go about embracing the cloud?
An estimated five million women across the country have hired themselves as head honchos and launched their own home-based business. With many working moms out of a job and at-home moms eager to bring in extra income, the idea of being your own boss is becoming more attractive than ever. So how do you figure out what's right for the times? And how do you get started on a business?
Many factors will drive a major trend toward boomer entrepreneurship in the years ahead. For some, that will mean launching full-scale businesses with partners, investors and employees, office space, and all of the accompanying headaches. But far more will start very small ventures that allow their owners to mix work, play, and other pursuits
We've all heard the stories: A mom has a big idea, such as inventing a device to prevent toddlers from unrolling an entire roll of toilet paper, and overnight she becomes a millionaire. It sounds easy -- but is it? Here's myths -- and realities -- about becoming a successful mompreneur
Sharon Reed Abboud, author of All Moms Work: Short-Term Career Strategies for Long-Range Success, writes about 'the new mommy track,' or the trend towards mothers finding creative ways of combining work and family after their children are born. Abboud says telecommuting, freelancing, and owning your own business are all ways to make it possible
Supporters in Congress claim that the Hiring Incentives to Restore Employment Act will create jobs by making it cheaper for businesses to add new employees. The good news is that small businesses may be more likely to use the incentives to add jobs that would not have otherwise been created. The bad news is that not many small businesses will find the jobs bill's incentives appealing.
Instead of taking a risk that could end in a cataclysmic strikeout, your goal is to limit the risk of financial catastrophe. This means containing projects so that a swing and a miss doesn't have the potential to ruin your life. Here are five rules to reduce risk when starting a small business
Many tax advisors tell their self-employed clients -- including those who are 'consulting' while looking for work -- to open separate business bank accounts to make it easier to separate business and personal expenses for tax purposes. Don't do it. This common tax advice could turn into a banking nightmare that puts every dollar in your business account at risk.
There is good news for small-business owners this tax season. Some of the tax breaks that may seem out of reach or overly complicated are actually worth the effort. And there are some new tax breaks this year that appeal to many business owners -- not just the most successful. Here's a guide for small business owners for overlooked tax breaks
In this strained economy, more and more workers are exiting the once secure realm of corporate jobs -- many because of layoffs -- and starting their own businesses. Last year, more than 600,000 small firms were started in the U.S. Trouble is, only half will survive beyond five years. Here are some steps to help you land among the winners
My small business is teetering, mostly down but with an occasional burst of recovery. I feel the stress of the economy closing in on me. After 15 years, I'm thinking maybe I should rethink what I'm doing with my future. You've seen recessions come and go. So, what words of wisdom do you have for me?
Millions of business owners who work from home have avoided the burdens of renting or buying office space. Telecommunications technology has made running a business out of your home easier than ever. But home-based businesses face some unique challenges. They include complicated legal topics that few people think about before they go into entrepreneurship. Here are a few ...
The Senate Finance Committee put forth a new healthcare bill that removes those penalties on businesses. Instead, it offers carrots to employers that provide healthcare, while keeping a few sticks. The bill, associated with its main sponsor, Democratic Sen. Max Baucus of Montana, seeks to expand insurance coverage through the creation of nonprofit insurance exchanges at the state level. These exchanges will be open to small businesses with up to 100 employees
Conventional wisdom holds true when it comes to small businesses struggling in an economic recession. Small businesses drive the nation's economy so when the economy slows down, they take the brunt. Compared with large businesses, they have less of a cushion of capital. Tight credit makes business expansion difficult. And economic slowdowns can expose fundamental flaws in business plans. But despite all these disadvantages, the number of small businesses as a whole seems to be recession-proof.
Entrepreneurship Is the New Retirement: 10 great places to start your own business. Entrepreneurs never really retire; they just move on to their next project. These days, it's boomers -- not techie 20-somethings -- who most embody the entrepreneurial spirit. Over the past decade, the highest rate of entrepreneurial activity was among people between the ages of 55 and 64
Entrepreneurs never really retire. Contrary to the stereotype of 20-somethings starting Web-based businesses in their basements, it's actually the baby boomers who best embody the entrepreneurial spirit.
Starting a business is difficult at any age. Here are some tips to help baby boomer start-ups boom: Tap your network. Use your experience. Find start-up funds
The myth of failure that, "9 out of 10 businesses close in their first year" is far from the truth. The US Census Bureau's, Business Information Tracking Series, is used to track 5.5 million employer firms every year. It showed that 66 percent of new businesses survive two or more years, 50 percent survive four years and 40 percent survive six years or more.
A PRESIDENTIAL REPORT TO THE U.S. Congress stated that small businesses have always been the backbone of the economy and account for the most innovation and job creation. It further states that small businesses have sustained the economy in weaker times and have contributed to the continuance of long-term growth. Today 90 percent of these small businesses employ more than 52 percent of the American workforce.
Some people start businesses later in life because they want to; others do it out of necessity after a job loss. Steve Vernon is among the fortunate ones who made the leap to entrepreneurship on his own.
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