Should You Buy a Prepackaged Website?
June 27, 2009
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http://www.entrepreneur.com/ebusiness/buildingawebsite/article202386.html
Why Incorporate Your Business?
June 25, 2009
Anyone who operates a business, alone or with others, may incorporate. Under the right circumstances, the owner of any size business can benefit! Here are some of them.
Reduces Personal Liability
Incorporating helps separate your personal identity from that of your business. Sole proprietors and partners are subject to unlimited personal liability for business debt or law suits against their company. Creditors of the sole proprietorship or partnership can bring suit against the owners of the business and can move to seize the owners’ homes, cars, savings or other personal assets. Once incorporated, the shareholders of a corporation have only the money they put into the company to lose, and usually no more.
Tax Advantages – Deductible Employee Benefits
Incorporating usually provides tax-deductible benefits for you and your employees. Even if you are the only shareholder and employee of your business, benefits such as health insurance, life insurance, travel and entertainment expenses may now be deductible. Best of all, corporations usually provide an increased tax shelter for qualified pensions plans or retirement plans (e.g. 401K’s).
Anonymity
Corporations can offer anonymity to its owners. For example, if you want to open an independent small business of any kind and do not want your involvement to be public knowledge, your best choice may be to incorporate. If you open as a sole proprietorship, it is hard to hide the fact that you are the owner. And as a partnership, you will most likely be required to register your name and the names of your partners with the state and/or county officials in which you are doing business.
Easier Access to Capital Funding
Capital can be more easily raised with a corporation through the sale of stock. With sole proprietorships and partnerships, investors are much harder to attract because of the personal liability. Investors are more likely to purchase shares in a corporation where there usually is a separation between personal and business assets. Also, some banks prefer to lend money to corporations.
An Enduring Structure
A corporation is the most enduring legal business structure. Corporations may continue on regardless of what happens to its individual directors, officers, managers or shareholders. If a sole proprietor or partner dies, the business may automatically end or it may become involved in various legal entanglements. Corporations can have unlimited life, extending beyond the illness or death of the owners.
Easier Transfer of Ownership
Ownership of a corporation may be transferred, without substantially disrupting operations or the need for complex legal documentation, through the sale of stock.
Centralized Management
With a corporation’s centralized management, all decisions are made by your board of directors. Your shareholders cannot unilaterally bind your company by their acts simply because of their investment. With partnerships, each individual general partner may make binding agreements on behalf of the business that may result in serious financial difficulty to you or the partnership as a whole.
Adds Credibility
A corporate structure communicates permanence, credibility and stature. Even if you are the only stockholder or employee, your incorporated business may be perceived as a much larger and more credible company. Seeing “,inc.” or “corp.” at the end of your business name can send a powerful message to your customers, suppliers, and other business associates about your commitment to the ongoing success of your venture.
For help and the cost to Incorporate your business in your state please visit our site and contact us for more assistance. www.advancedbizconsultants.com
Information in this blog article taken from ActiveFilings.com
Promotion
April 13, 2009
I am very proud to announce that Adam Osgood has accepted the promotion from Business Consultant to Director of Business Affairs. Adam was crucial in the development and expansion of Advanced Business Consultants. His hard work and dedication does not go unnoticed and we look forward to the future work he does in helping our company’s future expansion.
-Office of the President-
New Affiliate of ADP
April 13, 2009
We are extremely proud to announce that Advanced Business Consultants have agreed to become an affiliate with ADP Business Solutions to provide our customers with special pricing to help keep their payroll costs low. Besides payroll ADP can also help with all your human resources needs, and all your employee benefits. For more information on our new affiliation with ADP please fill out our contact form or call us at 866-639-0566.
-Office of the President-
Who Wants a Successful Business? - Part 1
March 23, 2009
At Advanced Business Consultants Inc. we pride ourselves on not only the knowledge we have to help our customers accomplish lowering costs while raising profitability and sales, but also on providing our customers with that knowledge so their business will be successful. Good sales for a month or good sales for a quarter can be blind luck, but steady sales and consistent profits are a result of having a sound business plan and utilizing many tools many business owners don’t know about. That’s where we come in. We work with businesses to show them their good habits and fix their flawed ones. “Our success is measure by your success” is not just our company motto, but it is what we believe needs to be accomplished to make sure we stay in business as well.
Many people from many walks of life decided that they would like to go into business for themselves. The problem is not that the idea they have isn’t good enough, it’s the ideology behind how they decide to conduct their business. Many people think that running the business is as easy as the work they were doing before they started their own, but the problem is that running a business and running with the business are two entirely different things.
In Michael E Gerber’s book the E Myth he explains that there are three different mentalities that it takes to start a business. The trick to a successful business is to be able to balance all three; the technician, the manager, and the entrepreneur. The technician needs to know how to do the work, the manager how to manage the tools they have, and the entrepreneur to imagine new and better ways of doing things. That’s the first step of figuring out the strategy it takes to become a successful business. It’s not being able to do the work alone but to know why the work needs to be done and where the business is heading and adapting to change.
Change. The word alone can make many people quiver, but not the person who wants a successful business. The word change can mean cornering a new market or uncovering hidden talents in your business. If a business is stagnant another business will ultimately pass them up and push them out. How can your business change creatively while maintaining the basic foundation and morals of your company? That’s where hiring a consultant can help out because a fresh set of eyes with no investment in the company can see and fix problems that are keeping the business from changing in the right direction.
Check back for Part 2 of “Who Wants a Successful Business?” Where we will talk about other aspects of your business that need to be looked at more deeply.