Retail businesses have come a long way since the days of the mechanical cash register. When processing a transaction now, business owners have tons of options for point-of-sale systems, or POS systems. There are chip readers and mobile payment processing services. There are completely online POS systems. There are some which let you build a local network and…
From corporations to LLCs, most types of business entities put all or most authority into the hands of a small set of leaders. However, there is a lesser-known way to create a more democratic organization out of your profitable company: building a cooperative. So what is a cooperative? And what does it take to create…
As an entrepreneur, outward confidence is critical to your business’s success. It allows you to network, raise capital, and grow your business. The key to outward confidence, however, is inner self-confidence. A 2006 study published in the Journal of Applied Psychology found that self-confidence is more important for entrepreneurs than for managers.” A Harvard Business Review article…
For many entrepreneurs, it’s important to not only turn a profit but also ensure that the company is doing its part to make the world a better place. Through positive interactions with their communities, employees, and the environment, companies can do so much more than just make money. This is why many companies have chosen…
If you’re dreaming of starting a new business, you may be wondering what sort of business entity to form. There are plenty to choose from — the United States gives businesses options to incorporate under S or C status, launch as a sole proprietorship, form an LLC, and more. An LLC, in particular, is popular with…
You’ve decided to embark on a new business venture and are starting to sift through all the steps you’ll need to take to get your business off the ground. One of those crucial decisions is what type of business you should create. If you’re starting a business and thinking about having silent partners, then a limited…
Whether you’re starting a business solo or with people you trust, your business structure is one of the most important choices that you’ll make. This decision will ultimately determine how your company forms and how you’ll run in the future. For many businesses with two or more owners, starting a general partnership is the best…
You’ve come across a great idea to create a small business and are chomping at the bit to get started. The first step is deciding what type of business entity you want to create. S corporations give you favorable tax benefits and limited liability protection — but what is an S corporation? S corporations aren’t…
When forming a small business, you have several different options for what kind of legal entity you want your company to take. One of those options is a C corporation. A C corporation is a business entity that offers strong liability protection and the ability to bring on lots of shareholders — an important thing…
The story is all too familiar. You want to make positive changes in your life so one day you decide to kick it into high gear. You may want to get in shape, be more productive, or limit procrastination. Overall, you’re on a quest to develop self-discipline. It typically starts like this — you write…
