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How and Why Should You Register a New Small Business Name?

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You’ve got everything you need to get your new small business off the ground. Except for one. The name. You might think that the name of your business is a small concern, and you may not even have considered registering it. However, it’s very important that you register your new small business name. Here is why and how to do it. You Need a Small Business Name for Paperwork To get an Employer Identification Number, a D&B D-U-N-S® number, or apply for any loan, your business must have a ...

Offering Your Business as a Franchise

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Is It Time to Franchise? Is franchising the most effective way to grow your successful small business? If you believe that your business concept is unique, specific, and adaptable enough to thrive in other cities, other markets, and without your direct supervision, then franchising may offer the most reliable growth model for your business. But before you offer your concept and brand to franchisees you will need to have a better understanding of the demands that franchising places on you, your ...

Providing Benefits to Your Employees as a Small Business Owner

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Why Provide Benefits? Benefits such as health insurance, workers’ compensation, and pension plans not only play an important role in the lives of your employees and their families, these benefits also help your business attract and retain a highly-skilled and motivated workforce. Offering benefits to your employees will give you a competitive advantage in recruitment, while deflecting the hidden costs of hiring and training new workers in the future. Mandatory Benefits While some ...

Beyond Facebook: Using Twitter to Promote Your Small Business

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Making Social Media Work for Your Small Business First Facebook, now Twitter. What’s next? Many small business owners struggle to keep up with social media, and even after six years, Twitter still leaves a lot of folks scratching their heads and asking, “What’s the point?” For businesses the point is simple: even if you’re not on Twitter, your customers are, and as a small business, you cannot afford to ignore your customers. Twitter has more than 100 million ...

Simple Steps to Forming a Corporation

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Why Incorporate Your Business? As your small business begins to grow, you need to consider taking steps to protect your personal assets and your financial future. If you are registered as a sole proprietor, then you bear the full financial and legal liability for any debts or actions associated with your business. In the event that your business incurs an unmanageable amount of debt, your personal assets, such as your house and your car, will be seized and sold off. Unlike sole proprietorships, ...

5 Steps to Hiring Your First Employee

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Your business is booming; in fact you need some help to manage the workload. It’s time to hire your first employee! This is a big step for any small business owner. Whether you’ve been going it alone or working with freelancers, hiring a full-time employee will change the way that you do business. As an employer you have responsibilities to yourself, your staff, and the government, and making a plan for recruiting, interviewing, and documenting your employees will save you time and ...

Why This Is a Good Time to Start a Business

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Making the Best of a Less Than Great Economy There is no doubt that this has been, and is, a tough economy. With unemployment still painfully high and growth stagnant, the common perception is that starting a business right now may not be the best idea. Wrong. There are all sorts of good and practical reasons why this is actually a very good time to become an entrepreneur. Indeed, it might help to know that many of the best businesses in the country were started during equally challenging ...

How to Pick a Name for Your Small Business

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What’s in a Name? Your business is your baby. You nurture and encourage it, you fear for its well-being, and you sacrifice in order to support it, so it’s only natural that you would take the time to find the perfect name for your small business.  You want a name that’s unique and summarizes your business’s identity and priorities, a name that conveys both the content and the value of the service you are offering. Fortunately, almost any name can be effective if the ...

5 Sales Secrets from the Pros

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Last week, my wife and I went shopping for a new computer for her. She had an idea of what she wanted, but also had some questions. So we headed over to a major electronics store and encountered a saleswoman unlike any I had met in a long, long time. This woman loved to hear herself talk. We could hardly get a word in edgewise, and actually had to interrupt her monologue to get our questions in. To me, it was a wonder that this person had a job selling, so far off the mark did she seem. Now, I ...

How Can a Small Business Owner Get a Federal Tax ID Number?

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If you’re starting a small business, then you are going to need a Federal Tax ID number in order to register with the U.S. government — this will allow you to properly pay taxes. While this may not seem appealing, all businesses are required by law to pay federal and state taxes, and in some cases, local taxes as well. Here’s what you need to know about getting a Federal Tax ID number. Employer Identification Number Although it is used to identify you for federal tax purposes, the ...