Small Business Articles

Five Things to Consider Before Starting a Small Business

Starting a Small Business Means More Hours Starting a small business can be exciting, in that running your own business means that you can finally shake the shackles of corporate control once and for all. To be your own boss, to walk to the beat of your own drum, to reap the benefits of your labor directly, instead of through cheesy and sometimes unimpressive job perks - it sounds good, doesn't it? If you're reading this, either 1) you've already started a small business and are laughing h

Home Business vs. The Office - Pros and Cons

Home Business Pros: Low Overhead and Short Commute Home Business vs. The Office - Pros and Cons I've worked in a variety of envrionments, and it's hard to say which method is best - a home business or a business with an office. In my particular industry, it's easy to work from home because most of our communications occour online. But a home business can pose a serious challenge for those with children, those who are easily distracted or those who need limits on their work day to avoid bur

Choosing A Structure For Your Small Business

Starting a small business without properly investigating the different possibilities for it's structure and cost you dearly down the road. The most important thing it to establish some kind of structure that limits your liability. Below I go through the two default non-entity structures for business, which do not limit your small business liability, followed by the entity structures, which do. Non-Entity Small Business Structures Small Business Structure #1: Sole Proprietorship If you're a

Putting a Business Plan Together For Your Small Business

Small businesses often come into life though happy mistakes, but even if that's the case with you, having a small business plan can really come in handy when growing your business. A Few Good Reasons to Have a Business Plan for your Small Business 1) A business plan is almost always required when seeking funding from any kind of lender or investor. 2) A business plan can serve as a guide for your small business to keep it running smoothly 3) While writing a business plan, you may be ab

Due Diligence - Jumping Through the Legal Hoops For Your Small Business

Running amuck of the legal system can mean certain death for your small business, so it's important to know the rules and work with them. While the government can be a pain to please, it's a must for a small business that hopes to stay afloat for a long time to come. Here are a few tips to keep your small business from unnecessary troubles. Small Business Due Diligence #1: Do a Trademark Search For Your Business Name Before you start actually conducting business, it's important to make su

Funding Your Small Business

Starting a small business usually requires some form of capital to get it going. Even if you already have the equipment to run your small business, you need a way to spread the word and unless you're extremely patient and creative, it takes money to promote what it is your company does. Funding for your small business can come from three major sources: 1) Yourself 2) Investors, and 3) Banks Drawing from each of these three sources has advantages and disadvantages. Before you decide t

Employees vs. Contractors for Your Small Business

Even if you start your small business alone, if your company is successful it won't be long until you need to enlist the help of others to keep up with the demand for your goods or services. The two options for increasing the human resources in your small business are 1) hiring employees and 2) hiring contractors. Each has it's benefits and downsides, and it's best to consider each before deciding which kind of resource you're going to hire. Your decision will impact what kind of paperwork you

Health Insurance Options for Small Businesses

Health insurance can be a significant expense for any small business owner, especially if they need health insurance for an entire family. As you get older, the costs of health insurance increase dramatically, making finding ways to reduce the costs in whatever way possible is important. Small Business Owners Don't Get Health Insurance Benefits Good jobs are defined by 1) pay rate and 2) benefits. As a small business owner, however, there are no freebies. You'll find that out if you start hir

Five Tax Tips for Small Businesses

For owners of small business, taxes are much more complex than for those with regular jobs. The extra complexity can lead to a lot of stress during tax season time and the nagging feeling that you may be doing something wrong that will cause those tough-cop IRS guys to come knocking at your door. The first important thing to do is to keep calm. The next important thing is to understand that filing your taxes is a process that lasts all year long. Keeping good records is key so that when it co