While business operations can be complex, many of the foundations remain simple. A business provides services or goods to a client and expects to be paid an agreed amount. For the most part, this is what happens. However, that isn’t always the case. Sometimes, a...
Starting a new company can be very exciting for founders. When a business finds a niche and markets a unique product or service, there is no reason why it cannot succeed. Nonetheless, it isn’t that easy. The harsh reality is that many startups fold within the first...
Starting your own business is both exciting and scary. There are so many details involved that it's sometimes difficult to know where to start. One of the most significant decisions you will need to make is how to structure your business. Knowing your options and the...
When forming a business, you may want to go the partnership route, pooling resources and expertise with others for mutual success. However, in this collaborative endeavor, a partnership agreement may be needed to outline crucial details and expectations for all...
Obtaining necessary licenses and permits is vital for operating your business legally and avoiding potential fines or penalties. Which licenses and permits are required vary depending on your location, industry and the nature of your business activities. A general...
Starting your own company can be very exciting. Perhaps it’s something you’ve dreamt of for years, and it’s now come to fruition. While getting to this step is a huge achievement, the work doesn’t end there. If your intention is for the business to expand eventually,...
When starting a new business, an early decision involves choosing a legal structure for your operations. A popular choice for many is a limited liability company (LLC), which is relatively simple to set up and maintain. While an LLC is ideal for many, if not most,...
Starting a business venture is both exciting and stressful. Some things can go wrong, but you understand that with hard work comes success. Many entrepreneurs question whether they should have a sole proprietorship or consider a business partner. Understanding the...
Forming a business involves several aspects, including securing protection against unpredictable situations. Accordingly, business owners usually acquire business interruption (BI) insurance to protect their businesses from monetary losses due to certain events. If...
A business must set clear goals and outline methods to reach them. This is called a business plan. Understandably, those new to the business world may feel uncertain about where and how to establish their business plan. It begins with asking the following questions:...
