Ask These Finance Questions before Starting a Business

June 7, 2015

Small Business Finance
Starting a new business is complicated, and can be a minefield of financial decisions. Do you start as a sole trader or a limited company? Do you need business insurance? Should you hire an accountant? Many financial decisions require careful thought for avoiding the risk of financial penalties and mistakes. Making a wrong decision not only will cost you money now, but will continue to haunt you for a long time. To help you make the best start here are 3 questions you must ask yourself before launching a new business.

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This is Why Every Entrepreneur Needs to Go on an Annual Retreat

May 30, 2015

Vacation
When you run a successful company, it may seem counter-intuitive to think about leaving for a few days. However, taking a break, whether it’s for a vacation or for a work retreat where you’ll learn new tactics, is integral to keeping up with your success. With the demands of entrepreneurship it is easy to get exhausted and burned out. Taking few days off allows you to get rejuvenated to keep the engine going. Still need more convincing? Read on to see why you need to take that time away or sign up for that retreat you’ve been considering.

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Filed Under: Management Tagged With:

A Potential Game Changer for Investors and Businesses: Securities Crowdfunding

May 27, 2015

Crowdfunding
Crowdfunding platforms such as gofundme and Kickstarter have made headway as vehicles allowing millions of people to realize their financial goals. Whether it’s paying for the surgery of a beloved pet, or raising capital to make the movie of your dreams, these instruments of fundraising have revolutionized the moneymaking process. It was only a matter of time before this type of platform was utilized for start-up businesses to connect with investors. But what is crowdfunding and who is it for? Here is a concise guide to help you understand this newest phenomenon.

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The challenges of running a care home

May 2, 2015

Home care
With ONS figures suggesting that 8% of men and 14% of women who are aged 65 today will live to 100, it’s clear that a telegram from the Queen is no longer quite the novelty it once was. An aging population brings with it an increased need for specialist accommodation, including residential and nursing care. The result is a £6bn – and growing residential nursing care industry.

A depressing stream of scandals serves as a constant reminder of what happens when care homes fail to take their responsibilities seriously. So do the challenges associated with this sector make it a no-go area for outsiders? Is it really possible to deliver an excellent service, achieve an attractive ROI and keep on top of red tape? Below we take a look at what’s involved in running a care home.

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What Is EIN and When do Sole Proprietors Need One?

April 14, 2015

Start here
There is wealth of information on the Internet about starting and running a small business. A small business entity can be set up in variety of fashions from tax and reporting perspective – sole proprietorship, LLC, S Corporation, C Corporation and so on. There are several aspects about sole proprietorship that are fundamentally different from other forms of entities, so it is important to understand the details and procedures for them, such as when you should apply for an EIN.

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3 Items You Must Address Before Taking Self Employment Plunge

March 19, 2015

Entrepreneur
Going from being employed to working for yourself is a major transition. To many it looks like a dream – you get to set your own hours, take holidays when you like, work from home, and set your own wage. It offers unparalleled freedom to do your own thing and control your own destiny, and yet it also comes with an awful lot of responsibilities and complications.

These responsibilities and complications are overlooked by many, but they are just as important as the rewards in terms of how they’ll shape your lifestyle and the impact they should have on your decision making process. Here are 3 important items you need to consider before taking the plunge.

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Three Strategies Successful Entrepreneurs Use for Business Success

March 9, 2015

Entreprener Success
These days many people from all walks of life are getting interested in leaving their jobs and pursuing their business dreams. If you have the will and desire to start your own business you should know that beginning to think and act like an entrepreneur is the first step to bring your vision to fruition. With that thought in mind, remember that there are a plethora of success habits that entrepreneurs need to cultivate in order to ensure that they are successful at becoming an entrepreneur and a businessman. Here are three characteristics of a successful entrepreneur:

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Filed Under: Strategy Tagged With: ,

Starting a Business? What You Need to Know First

March 2, 2015

Entrepreneur
Who hasn’t dreamt of being his own boss and launching a business that will one day become the next Amazon or Google? The idea of having the freedom to pursue your dream is exciting for anyone who has gone through the drudgery of corporate world. While this is indeed exciting and noteworthy you also need to know that starting your own business is not something that everyone can do. It takes lot of effort and commitment to build a business that will one day rival Amazon of today. For every Amazon there are hundreds of others who did not make it. Don’t lose heart, though. With good understanding of what it takes to start a business and little perseverance you too can build a respectable sized business even if it is not the next Amazon. Here is a 5 step process you need to go through before taking the plunge.

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Lack of Protection can Get Small Businesses in Hot Water

February 10, 2015

Insurance
Starting your own business is always risky, at the same time it is exciting. Despite the amount of competition out there in seemingly every market, adventurous entrepreneurs are willing to take the risks and try to reap the potentially vast rewards. This is admirable, however where a number of startup companies go wrong is they fail to make sure their businesses are adequately covered against unexpected risks that could have devastating effects. In fact, a worrying amount of new businesses owners still assume they’re simply covered under their standard home insurance policies. That is simply not true. Here’s what you need to know about business insurance.

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How to Get Funding for New Business with Little or No Credit

December 16, 2014

Loan
Here is the dilemma. You have this great business idea that you feel strongly that it will succeed. However, you have no credit and no collateral. What do you do? How can you get much-needed loan so that you can jump start the business? Well, here is some good news. While many lenders may not feel comfortable with giving you money solely on the idea there are some lenders and investors who will base their decision to lend you money largely on the strength of your business idea. If you have cash flow, a great idea, and can prove your concept, you may be able to get the money you need. How? Read on to find out.

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Filed Under: Finance Tagged With: ,