Starting a business involves crucial decisions, including how to fund it. Bootstrapping and raising venture capital (VC) are popular methods, but each presents different long-term legal risks. Equity and ownership issues Bootstrapping allows the owner to retain full...
Business Formation
Should I set up an LLC or sole proprietorship?
Choosing between setting up an LLC or a sole proprietorship is a crucial decision when starting a business. Both options have their pros and cons, and understanding these can help you make the best choice for your specific situation. Sole proprietorship A sole...
3 business formation tips to prevent future disputes
Starting a business is an exciting venture, but it can also be challenging. It is important to take action to prevent future disputes for the longevity and success of any business. Taking the right preventative steps during business formation can help mitigate the...
A guide to the articles of incorporation for new businesses
Starting a new business in New York involves several steps. The articles of incorporation are essential as they formally mark the birth of your corporation under state law. When you draft your articles of incorporation, you set the foundation for your business...
Does your business need insurance?
You likely have insurance for your vehicle. You probably have health and life insurance as well. But do you have insurance for your business? Business insurance provides coverage and liability protection in the event of unforeseen circumstances. Understanding the...
Reasons to file a business as an S corporation
An S corporation is a unique type of business structure that can work well for small and mid-sized organizations. It bears similarities to a regular C corporation but with different rules and tax treatment. Understandably, many people file their businesses as a...
Signs that it is time to expand your business
Expanding your business can be a pivotal step towards growth and success. If it is the right time and you have the right reasons, it can pave the way for sustained success in the dynamic entrepreneurial landscape. Begin by evaluating your business for key indicators...
6 key documents for launching a successful business
Launching your own business is an exciting endeavor, but it requires careful planning and documentation. According to the Bureau of Labor Statistics, 65% of small businesses fail within a decade of opening. To beat the odds and set the stage for success, you should...
Ensuring your accreditation with the Better Business Bureau
One way to establish credibility in the competitive landscape of small businesses is by securing accreditation from the Better Business Bureau. According to the BBB, this organization currently accredits over 400,000 businesses based on ethical standards and customer...
4 common pitfalls of launching a new business
Embarking on the entrepreneurial journey is an exhilarating experience, but it can come with challenges. Many small business owners find themselves grappling with avoidable mistakes that can hinder the success of their ventures. 1. Neglecting market research One...