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How to incorporate your business
Most companies in America are the equivalent of garage businesses with no corporate structure. That works fine for most people ... until you need to hire someone, take out a business loan or you get sued. Business incorporation provides you legitimacy, and some legal protection. Sure, there are legal forms and paperwork to complete, and you will need to ensure compliance with a formal set of rules (most of which you're already following,) but the benefits will easily outweigh the nominal cost of incorporation.
10 steps to starting your own business
Running a business doesn't stop until the business stops. You can start a company faster and easier in the United States than almost anywhere in the world, but getting it right takes a plan. You'll need to consider whether you need a business loan, temporary or permanent staffing, whether you're going to use a public relations company to get word out about who you are, business insurances, data backup, where are your customers coming from? Will you need to contract with a lead generation service? And this is just the very tip of the iceberg.
BUYING GUIDE: Business Loans
Some well-financed soul out there probably wants to lend money to your business. The question is, who is this person, and on what terms? We recognize that small business loans can be difficult to find these days. We want to make the process easier and more transparent for you. We describe the process of most small businesses’ search for a loan, starting at the gold standard – an old-fashioned bank loan – through other alternatives from nonbank lenders, so-called “hard money” lenders and asset-based lenders.
Why you need a bank account
Separation of personal and business finances is essential for any business owner, and gives you a little protection from the IRS. How do you open a bank account for your business? It's not quite as simple as wandering into the local branch of the big bank on the corner.
Alternative Sources of Business Financing
If the bank won't lend you capital, how do you finance your business? We're assuming you don't have a rich Uncle Tony and don't have a winning lottery ticket in your pocket. Your choices after that are institutional lenders, private lenders, account receivables funding, or selling a part of your business. Finding capital can be tough, but here's how to find a few, and how to be professionally prepared to answer the tough questions a lender might ask.
Buying Guide: Credit Card Processing Services
Imagine if your business only accepted cash payments. How badly would it hit your bottom line? What if you didn't make sales on the phone, or online? Make no mistake, credit cards keep businesses alive. It's simple math: If you accept credit card payments, your revenue potential increases dramatically
Five Entrepreneurial Legal Blunders
There are several legal pitfalls that business owners can fall victim to that can make the difference between a successful business and one that fails. However, with a little foresight and planning you can protect your business and limit your liability.
Startup Boardroom, Day One: The Incorporation Artist
Megan Hughes, an expert on business formations, inaugurates Startup Boardroom with her answer -- if you think you've found a way to start a company without help, you're probably fooling yourself.
Business tax basics
What do you really need to know about tax law? Keep solid records, separate your personal finances from your business finances, and if you take your business seriously, get an accountant.
Five Lessons Every Small Business Can Learn from Dr. Horrible
If you've never heard of the movie or TV show, Buffy the Vampire Slayer, the name Joss Whedon will likely mean little to you. But then, so will the word "Internet." A couple of years ago, Whedon assembled some friends, including Neil Patrick Harris of How I Met Your Mother, and made a three-part web-based series, available to watch online, download from iTunes, and finally on DVD. It was hugely successful among nerds and geeks. It was called Dr. Horrible's Sing-Along Blog, and this is some of the wisdom we can glean from Dr. Horrible, himself.