Let’s dive into the history behind the business entity and answer these common questions. What is a business entity? Where do entities exist? What types of business entities are currently in existence? Incorporating a small business as a business entity is important. An incorporated business…
Key Learnings: The likelihood of profitability rises every year a business remains in operation. While the age of the business plays a big role in profitability, the age of the business owner doesn’t. Equity financing methods such as Rollovers for Business Start-ups (ROBS, also known as 401(k)…
Quick Steps to Start a Cleaning Business: Structure your business. Will you buy a franchise or start an independent business? Will you hire employees? Will you focus on residential or commercial cleaning or both? Learn about and pursue your funding options. Guidant’s free pre-qualification…
The SBA Loan Process in Three Steps Filling out application paperwork. SBA loan applications can be lengthy. The application usually asks for detailed information about personal and financial history, tax documents, financial declarations, business tax returns, and a business plan. While any…
Jason Hill, of Client Focused Advisors and the Shrimp Tank Podcast of Boca Raton, shares his expertise with the need for life insurance as collateral in an SBA loan, and how to find the right plan for you. While a lot of banks accept life insurance as collateral for SBA loans, getting the right…
2019 has been a great year for franchised businesses, by many indications. It’s so good, in fact, that now might be one of the best times in a long while for you to jump into owning your own franchise. With franchise profitability up year over year, franchise owners are happy with their decision…
Top Tips to Avoid Common Prohibited Transactions Always act in the 401(k) plan’s best interest. Don’t pay yourself an excessive salary. Your wages should be within market for your role. Don‘t use any business property for personal use. Don’t let your spouse or family use any…
Over the last few months, we have defined C Corporations and what entrepreneurs need to know about registering as a C Corporation. As our series on C Corps draws to a close, there are still a few odds and ends left to cover about this entity. How does a C Corp compare and contrast to other…
If coworking works for you, keep with it. But what happens when it’s not? When you start a business of your own, even before you look to acquire clients, your first focus will be on how to launch and run it while also keeping costs down. You take on as much of the work personally as you can,…
