Small Business Startups, SBA

Small Business Solutions for Business Startups

Small Business Solutions for Small Business Startups

Small Business Solutions Updates 1/20/2007

Small Business Solutions is updated several times a week. Please come back and check these updates often. If you would like to suggest new topics, please email us and we will respond within 48 hours.

Small Business Solutions

Strategic Business Planning

The only place you will find employee development and executive training materials specifically for the various stages of business operations and growth.

Small Business Plans

If you're serious about the success of your Home Business and Small Business, then you need to find ways to give yourself every advantage you can over your competition. One strategy that I can almost guarantee your competitors haven't tried is building a customized blueprint that outlines exactly how your businesses will succeed. The process of writing a business plan for your company can be a crucial step in getting your profits to where you want them to be.

If you're thinking, "But I'm just a one-person business working part time out of my home. I don't need a business plan," think again! Unless you want your business to stay small and to keep your day job, you desperately need a business plan. It's one of the best ways to motivate yourself to drive your business to the next level.

Small Business Formation

The pattern is fairly well established. Once the entrepreneur has determined the goods or services the company will offer and whether there is a market for the product, a decision must be made on the type of business formation. Usually you will choose either a sole proprietorship, a partnership, a limited liability company (LLC), or a corporation. There's no right or wrong choice that fits everyone. Your job is to understand the advantages and disadvantages of each legal structure and pick the one that best meets your needs. The best choice is not always obvious. After reviewing this section, look over advantages and disadvantages at "Business Formation".

Small Business Financial Basics

Debt vs Equity: Starting up a business can be a strain on your personal finances. Understanding financal basics, will clarify the process. It can take several months or more before your new business is profitable and can provide financial support for you and your family. This is the Number One reason why you should start on a part time basis, whenever possible.

Financing Small Business

Almost all investors and lenders want to see your Small Business financial statements. By preparing a basic financial statement package for your Small Business, and keeping it current, you'll be in a better position to act quickly on financing opportunities. There are two levels of Small Business financial statements to prepare, the basic documents needed for most small business financial activities, and supporting documents needed, especially for large loans or investments.

LLCs and Small Business

An LLC has characteristics of a corporation, but it is not. It does offer some of the benefits of a corporation, particularly the limitation of an owner's liability. An LLC provides lawsuit protection, credibility, tax savings, deductible employee benefits, asset protection, anonymity, the ease of raising capital, creating a separate legal entity for personal protection, an LLC has a broad range of powers beyond that of a sole proprietorship, small claims court benefits, separate liability for corporate debts, and perpetual duration.

Home and Small Business Regulations Taxes, Insurance, Licenses

With the rapid advances in communications technology, it becomes more and more efficient and economical to operate a business from home. The basic legal issues, such as picking a name for your business, apply to all businesses. But there are also a number of legal issues unique to home-based businesses, and it pays to know the rules before you begin.

Small Business Deductions

Small Business Deductions: The cost of doing business is an important part of calculating your Small Business Tax Deductions and/or your Home Business Tax Deductions. Use this checklist to ensure that you're maximizing your income tax deductions in this category of business expenses.

Small Business Definitions

Here you will find various business terms with definitions. This is to assist you in understanding some of the tougher words when it comes to business. Please contact us if there are additional words you feel are relevant or if you comments or questions.

Women and Small Business

Information addressing your work and business related questions and concerns for Women in Business

Small Business Insurance Updates

Small Business Solutions has many resources to help small businesses succeed. In this section, you will find various resources and updates on various types of insurance commonly purchased by small business owners. Also included are links to web pages that assist business owners in making important decisions about various insurance issues.

Career Resource Library

The Career Resource Library is a vast portal of Career Resources including job search tips, resume writing tips, interview help, occupation info, salary and wage finders, relocation and cost of living information, and more.

Small Business Advantages

When you start a new business, you must decide on a legal structure. Understanding the advantages and disadvantages Usually you will choose either a sole proprietorship, a partnership, a limited liability company (LLC), or a corporation. There's no right or wrong choice that fits everyone. Your job is to understand the advantages and disadvantages of each legal structure and pick the one that best meets your needs. The best choice is not always obvious. After reviewing this section, look over advantages and disadvantages at Business Formation.

Employer Identification Number

Your Employer Identification Number, EIN will be a nine digit-number that takes the form: 12-3456789. It is assigned to sole proprietors, corporations, partnerships, estates, trusts, and other entities for filing and reporting purposes. All partnerships, corporations, and trusts need an EIN Number, even if they have no employees. Sole proprietors generally need one only if they have employees, have a Keogh pension plan, or must pay certain federal excise taxes. Sole proprietors need to have an Employer Identification Number only if they have one or more employees, if they have a Keogh plan, or if they are required to file excise tax forms such as those for sales tax, alcohol or tobacco.

Franchise

Traditional franchising is an established business technique that brings together the owner of a branded product or idea with another. A franchisor provides a trademark or trade name and a very specific business arrangement; a franchisee pays a royalty and often an initial fee for the right to do business under the franchisor's name and system. The contract binding the two parties is the franchise.

Independent Contractors

Independent Contractors are defined by the IRS, as the people who contract to perform services for others, but don't have the legal status of employees. Businesses can save time, money and headaches by hiring Independent Contractors instead of employees.

Layoffs

Being unemployed due to a layoff is a dramatic life changing event. Being unemployed in a tight job market offers very few opportunities even for talented and educated individuals. One growing alternative for the newly unemployed is to start a business. The road to self employment is difficult at best even during good times. The road to home or small business ownership needs to be cautiously viewed with honesty and introspection.

Niche Markets

A market in its entirety is too broad in scope for any but the largest companies to tackle successfully. The best strategy for a smaller business is to divide demand into manageable market niches. Small operations can then offer specialized goods and services attractive to a specific group of prospective buyers.

Real Online Jobs

Real Online Jobs are opening up every day. Take a look around this page and explore the various opportunities that are posted daily. Being a professional or just starting out, this segment of our website tries to connect the numerous advantages of working a "Real Job Online". These jobs can provide fulfilling employment and interesting projects in every work at home and freelance job sector, including:

eMarketing

eMarketing: E-commerce has redefined the marketplace. E-commerce is the sale of products and services over the Internet. It is the fastest growing segment of our economy. It allows even the smallest business to reach a global audience 24/7 with its product or message with low cost. Currently, there are more than 300 million people using the Internet internationally.

Online Payment Systems

Online Payment Systems - There are many ways to complete money transactions online. Online Payments Systems offer you a choice which depends on your finances and business needs. Unless you are an experienced programmer you will need an online shopping cart service. With online payment systems there are several third party shopping cart solutions available. They are relatively easy to set up and to implement. One drawback to using third-party shopping carts is that your customers are taken to another website for the purchasing process. This may take away from their experience of your site.

Search Engine Optimization

More than 78% of all people find out about your website by using search engines such as Yahoo, AOL, Google, AltaVista and so on. Small business and Home Businesses are moving to the internet for exposure. Check out the Small Business Stats. This is one of the many reasons we need Search Engine Optimization People type some keywords and look for information. You want these potential customers to find your website. This means traffic. Your BUSINESS LIFELINE.

Self Employment Taxes

However, Self Employment Tax is a much larger amount than what comes out of your paycheck as an employee. As an employee, 7.65% is deducted from your pay. The Self Employment Tax amount you will pay is almost twice what you pay as an employee. The reason for this is that your employer matches what comes out of your check so that 15.3% actually gets paid in to the Social Security Administration on your behalf. When you are self-employed, you are essentially both the employee and the employer.

Small Business Stats

The small business marketplace changes rapidly. Small Business Stats reflects the current and future movement of the economy. The information included on this page represents the most current information. When discussing a �small business,� this site uses the definitions provided by the U.S. Small Business Administration's Office of Advocacy.

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