When operating a business in New York, it is imperative to know the value of innovation. People who have created a product or service might not understand how vulnerable it can be if they fail to take the necessary steps to shield their trade secrets and prevent...
Over 10 million new small businesses opened in the U.S. from 2021 to 2022, setting a new record. Small business accounts for more than 99 % of the businesses in the U.S. However, the five-year survival rate is only around 50% nationwide. Strategic planning is an...
If you operate a business in New York that accepts or spends money, opening a business checking account is crucial. Doing so helps you accurately account for each business transaction, keeping them separate from personal funds. Using a business checking account will...
Not every entrepreneur in New York wants to run a business by themselves. In these situations, having a partner is often helpful. Before choosing a business partner, forming a partnership agreement with this person or people is essential. Creating ownership...
New York small business owners might be familiar with the concept of a Limited Liability Company (LLC). It’s often seen as a way to give credibility to your business, but it can also have some significant legal benefits. What does an LLC do? When you’re just starting...
Running a business in New York isn't just about providing services and products to your clients or customers; internal operations require proper management. One of the most important elements is ensuring a successful business partnership. Issues can arise between...
If getting a grip on your previous small business failure in New York presents a challenge, take heart in the knowledge that you can succeed. Writing a solid business plan is the first step of your new entrepreneurial venture. Now is the time to visualize a mission...
Applying for your EIN in New York is an easy process when you apply via the Internal Revenue Service (IRS) website. The IRS offers several ways to submit your application. You can apply online, by mail or via fax. According to the official IRS website, applying for an...
A restaurant business model is a professional outline of your restaurant's products, services and marketing strategies. This model is a plan of your business to give to other business partners in which you describe the restaurant's goals, predictions and strategies....
No contract in New York is valid unless certain elements are acknowledged and made. Ignoring one element could make the agreement voided. There are several, basic parts that make up a business contract. Offer A standard contract starts with the offer of a product or...
