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How To Make The Most Out of a Business Networking Event
You’re not alone. Most people are uncomfortable walking into a roomful of strangers. But networking at business events can help you grow your business, as well as allow you to do hands-on marketing research. Learning to mingle and to...
Operating a small business WITHOUT accountants, lawyers etc...
The average small business owner in the United States now spends between 35% and 45% of their time handling just the employee related paperwork. The typical small business owner has the burden of running payroll, buying workmans compensation...
Small Business Q & A: Turnkey Dropship Websites Save You Time, Trouble and Money
Q: I would like to start an online dropshipping business, but I have no idea how to get started. I would like to specialize in giftware and accessories. Where do I find products and how do I get set up a website without any technical knowledge? ...
The Importance of Timely Timesheets
Whether you are a small consultancy firm, a medium sized accountancy practice, or a code warrior for hire in a back room of your house then you have at least one thing in common: you are in business to get paid quickly, and for the work you have...
Top 7 Small Business Sites for 2005
If you want to start a business in 2005, and start making money almost immediately, the sites listed below are some of the best I have found. I've chosen each site because it is absolutely outstanding in providing the tools you need to get started,...
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Is Incorporating Your Small Business Best For You?
There comes a point in time when every small business person
contemplates on whether to incorporate their business or not. A
lot of times small businesses start out sole proprietorships,
and then become incorporated as the business expands and
develops. Small business incorporating can be a difficult
decision, and with this article you’ll gain a little bit of
knowledge on the advantages and disadvantages.
There are many advantages to incorporating your small business,
but limited liability is one of the biggest advantages. When
you have sole proprietorship to the company all the liability of
the company is on the owner. When incorporating the business,
your only liability is to however much you invest in the company.
With sole proprietorship, all of your personal belongings, such
as car and home, can be turned over to help pay the debt of the
business. As a shareholder in the business, you have no
responsibility whatsoever for the debts of the business, that is
of course unless you give a guarantee.
Another advantage to incorporating a small business is the
ability to raise money so much easier. With the ability to
raise money much easier, this increases the odds of the
corporation growing and expanding. Yes, you’re saying any sole
proprietorship can borrow money and incur debt like any
corporation. However, with a corporation you can sell shares
and raise equity capital, which is a big advantage in that you
generally don’t have to repay equity capital and it has no
interest.
There are many tax advantages with becoming a corporation that
you can take a look at as well. Some of these advantages
include income splitting, potential tax deferral and more.
Along with the reasons above, a corporation can have an
unlimited life. The life of a corporation is not dependent on
particular individuals, but the company as a whole. With this,
the company has the opportunity of lasting forever just as long
merges with another company or goes
bankrupt.
Now that I’ve buttered up the idea of incorporating your small
business, let’s take a look at some of the possible negatives.
As you incorporate your small business, there now will be two
tax returns to file each year, one for your personal income and
one for the corporation. This may not be a huge deal, but
unlike a sole proprietorship a corporation cannot deduct its
losses from the personal income of the owner. Plus, having
another tax return is the last thing another business owner
wants to deal with.
As a corporation is much larger and more complex then a small
business, therefore the cost to create one is much higher. Just
to set up the corporation will cost a lot more, then you have to
tack on the increased maintenance fees, accounting fees, and
more.
As with everything else, a larger business means more paperwork
that must be taken care of. Corporations must keep a minute
book, which contains the corporate bylaws and minutes from
corporate meetings. Reports and tax returns must be completed
neatly and in a timely fashion. All of the business bank
accounts and records have to be kept separate from personal
accounts and assets. That may sound like a load, but that is
just the start of the increased paperwork that comes with the
territory of incorporating your small business.
While there are many advantages and disadvantages to
incorporating your small business, the decision ultimately goes
to you. It is a decision that could make or break your
business, therefore much more research is recommended. However,
small business incorporating should be a thing that suites you
and others associated with you best.
About the author:
Small business grants and small business resources to help you start and run your own small business. Small business training, information, articles, loans, and more.
http://www.sites-plus.com
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| United States Small Business Administration |
| An electronic gateway of procurement information for and about small businesses. Search engine for contracting officers, marketing tool for small firms, ... |
| www.sba.gov |
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| SBA |
| The Small Business Planner includes information and resources that will help you at any stage of the business lifecycle. ... |
| www.sba.gov |
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| Main Page - SmallBusiness.com - Small Business Resources |
| Find Small Business plans, advice, tutorials about organization, corporations, entrepreneurship, and smallbusiness. |
| www.smallbusiness.com |
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| Yahoo! Small Business: Domain Names, Web Hosting, E-commerce ... |
| Yahoo! Small Business provides products and services that enable you to establish and grow your business on the Internet. Services include domain name ... |
| smallbusiness.yahoo.com |
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| Small business advice business start up small business finance ... |
| business start up small business finance start up advice. |
| www.smallbusiness.co.uk |
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| Smallbusiness.gov.au redirect to business.gov.au |
| Business Entry Point - Helping small business in big ways. An Australian Government initiative. The content from this website has now been consolidated into ... |
| www.smallbusiness.gov.au |
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| Business & Small Business |
| Online and print small business publication. Information to help start, grow or manage a small business. |
| www.entrepreneur.com |
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| Microsoft Small Business Center |
| Your home for information about Microsoft's small-business products and services, tailored business advice, technology tools, and more. |
| www.microsoft.com |
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| The Small Business Advisor - advice for starting and operating a ... |
| Advice and assistance for starting and operating a small or home based business. |
| www.isquare.com |
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| SCORE "Counselors to America's Small Business" |
| A nonprofit association dedicated to encouraging the formation, growth, and success of small business nationwide through counseling and mentor programs. |
| www.score.org |
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| Small Business and Self-Employed One-Stop Resource |
| IR-2006-2, January 3, 2006 - Temporary and proposed regulations will significantly reduce tax filing burden for nearly 950000 small business owners. ... |
| www.irs.gov |
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| Welcome to Small Business BC your business resource in British ... |
| BC Business Services offers assistance and resources for those running or starting a business in British Columbia and Vancouver. |
| www.smallbusinessbc.ca |
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| Small Business Service | Home |
| Provides information and advice to help small businesses realise their potential. |
| www.sbs.gov.uk |
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| NSW Small Business |
| A site developed by the NSW Department of State and Regional Development for small businesses. Topics include management, resources, current issues and ... |
| www.smallbiz.nsw.gov.au |
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| Business Management & Advice: Small Business Resources & Information |
| Looking for business management and advice? Our website includes small business resources and information that can help you. Visit the small business ... |
| www.businessweek.com |
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| Small Business Lawyer, Attorney, Law, Legal Help - FindLaw for ... |
| Information and legal sites relevant to small business. |
| smallbusiness.findlaw.com |
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| Small Business Funding Opportunities (SBIR and STTR) |
| Links to Small Business Funding Opportunities and SBIR / STTR Applications. |
| grants.nih.gov |
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| Microsoft bCentral Small Business Directory |
| Directory categorized by industry with company business card feature. |
| sbd.bcentral.com |
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| Our site has moved! Please update your bookmarks! |
| Facilitates the sharing and exchange of information among small business development centers, the small business administration and other business-oriented ... |
| sbdcnet.utsa.edu |
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| Small Business Development Corporation |
| Our business information services provides guidance to improve business skills and knowledge on advice on starting, buying, selling and expanding a small ... |
| www.sbdc.com.au |
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