If you’re starting a business these days, you’re going to need a robust website. Due to the pandemic, a great deal of the U.S. economy has gone online, and people may not be willing to work with you if you don’t have a website. What else do you need for a startup to...
Older entrepreneurs may be in a better position to succeed
Older Americans have been starting businesses during the pandemic and making them a success. In fact, they are the most active new business owners in the country, according to nextavenue.com. About 80% of small business owners are over 45, according to the New York...
Need an angel investor? Here’s what they’re looking for in startups
An angel investor is someone who brings an investment to an early-stage startup company. In exchange for that investment, they get a stake in the company. Understanding that startups are risky, they typically bring between $25,000 and $100,000 to the table in the...
Building a new business? Working for free may be a mistake
When you start a brand-new business, you have to make sacrifices. You’ll be working a lot, naturally. You’ll be networking and building up the connections that will serve you in the long term. There may not be a lot of money at first, even if you secure significant...
What’s the best business entity for a general contractor?
The choice of a business entity involves consideration of your immediate and long-term goals. Choosing to operate as a sole proprietorship, a general partnership, a limited liability company (LLC), a corporation or some other entity has legal, risk and tax...
3 options for funding your business
According to a 2019 study by SCORE, most small business startups are funded by personal savings. When startup principles launched their companies, nearly half had $10,000 in the bank that they used to fund the endeavor. A quarter of those surveyed had $50,000 on hand....
Surprise: Business startups skyrocketed during 2020
It was a challenging year for businesses across the U.S., and it certainly seemed as if business startups would be down for the year. Indeed, new business filings dropped off by 30% after the lockdowns began in March. But by June, according to an analysis of federal...
Choosing an LLC or a limited partnership for your new business
If you are planning to start a business with one or more others, you are probably deciding whether to set it up as a limited partnership or a limited liability company (LLC). Each has some advantages and disadvantages, but in most cases, we recommend the LLC option. A...
Buying a business? There are bound to be surprises and challenges
These days, there may be businesses available for purchase at bargain rates. If you have the capital to invest wisely, you can get a business that is fundamentally sound but was crippled by the pandemic. Today could be a great time to buy, but you shouldn’t assume...
New businesses are being formed at fastest pace in over a decade
If you’re trying to operate a business in this environment, you may be rightfully concerned. The pandemic and the associated economic downturn have made things tough for many going concerns. Surprisingly, however, these events have spelled opportunity for those with...