What happens next after an entrepreneur incorporates or forms an LLC for their small business? The short answer is that it’s necessary to catch up on a certain amount of corporate compliance. One of the first documents small business owners will need to file is an annual report. What is an annual report? This […]
Category: Legal
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Which Entity Formation Should My Business Incorporate As? by @deborahsweeney
As you prepare to launch a small business, it’s important to consider incorporating as a business structure. What does it mean to incorporate? Incorporation is defined as the process of creating a corporate business structure. This structure, in turn, allows the business to act as a separate legal entity from its owner. The entity formation […]
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5 Mistakes to Avoid Making When Starting a Business by @deborahsweeney
It’s an exciting moment when entrepreneurs decide to take the leap forward and start a small business. Once you discover your why, you’ll be ready to launch a startup that can solve problems for its customers and bring value to the community. Before you start imagining all the fantastic things your startup will achieve, […]
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What Entrepreneurs Need to Know Before Selling a Business by @DeborahSweeney
By Deborah Sweeney 0 on What Entrepreneurs Need to Know Before Selling a Business by @DeborahSweeney
by Deborah Sweeney | Featured Contributor Thinking about selling your small business? Now may be the right time to contemplate selling — or at least considering an exit strategy. Amid COVID-19, studies have shown that the majority of advisors see today’s market as a seller’s market for businesses valued between $2 to $5 million. Small businesses […]
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How to Transition From a Sole Proprietor to an LLC by @DeborahSweeney
by Deborah Sweeney | Featured Contributor Is it ever too late to change the legal structure you initially incorporated as? Not at all. The entity formed for a business at its offset does not need to be its formation forever. Entrepreneurs have the option to change structures that best fit their needs, and many begin as […]
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Which Entity Structure Should You Choose to Incorporate a Small Business? by @DeborahSweeney
By Deborah Sweeney 0 on Which Entity Structure Should You Choose to Incorporate a Small Business? by @DeborahSweeney
by Deborah Sweeney | Featured Contributor There are a lot of entity structures to pick from when you decide to incorporate a small business. It’s easy to struggle with finding the formation that feels like the right fit. Some entrepreneurs may feel so overwhelmed that they decide not to incorporate their startup. Keep calm and always […]
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What Motivates Entrepreneurs to Start Small Businesses?
by Deborah Sweeney Entrepreneurship isn’t for the faint of heart. Starting a small business means that you get to pursue your passion but takes self-discipline. As an entrepreneur you must also make sacrifices, like careful budgeting and working more hours outside the traditional 9-5 schedule, to reach your goals. However, this investment of time and energy […]
Legal Steps to Closing a Business Before the New Year by @CorpNetNellie
by Nellie Akalp Did your business struggle this past year? You’re not alone. Statistics show 20% of small businesses fail in their first year, while 30% fail in year two, 50% fail after five years in business and 70% don’t make it past their 10th year in business. Business failure does not mean the end […]
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File This Paperwork to Prep Small Businesses for 2020 by @DeborahSweeney
by Deborah Sweeney | Featured Contributor Entrepreneurs are on the cusp of more than a new year. We’re approaching a whole new decade! How exciting is that? As small business owners say goodbye to 2019, it’s crucial that they enter the next decade in compliance. Forgetting to file or update outstanding documents could result in their […]
Business Entity Refresher Course by @CorpNetNellie
by Nellie Akalp Choosing a business structure affects your business’s ability to get credit and obtain funding. It also offers you personal liability protection and affects your tax status. In other words, there’s a lot you need to know to make sure you’ve chosen the best entity for you and your business. Here’s a quick […]