Why Cash Matters More than Profit
When it comes to building a successful business, there is one element that business leaders often focus on which is profit. However, while profit is a good measurement, it doesn’t mean that's the most important aspect of the financial performance of a business. Instead, cash might be more important.
In this article, we will be looking at why cash matters more than profit.
Difference Between Cash flow and Profit
One of the big concepts to grasp as a business leader is the difference between ca…
Why Do Businesses Fail?
The rate of businesses failing is astonishing. Many people assume that it is easy to open and run a business. But, depending on the statistics you read, between 20% and 78.5% of all small businesses will fail in their first year. By the end of the fifth year, up to 95% of the companies which started will no longer exist.
But why do businesses fail? What are the common reasons behind so many ideas not succeeding? Here are some answers and how to avoid your newly incorporated business from fallin…
What is a Corporate Service Company?
When you’re in business, there are lots of new terms that you might hear. One of these might be a ‘corporate service company’. In this article, we will look into what one of these companies is, what it does for clients, and whether it could be useful for your newly incorporated business.
In addition, we will look at the alternatives to these corporate service companies that you might use.
What is a Corporate Service Company?
While it is the name of a business, a Corporate Service Company can …
How to Price Services or Goods
Selecting the right pricing strategy for your services or goods can make the difference between the success or failure of your business. If you are planning a new business, you will want to know how to price your services or goods. Your pricing structure choice will depend on your business, how other similar companies price their products and services, and what your customers want.
In this article, we look at how to price services and goods and decide on the best pricing strategy for your prof…
Can Anyone Have an LLC?
A limited liability company, or LLC, is a type of business entity. There are several other options for your business structure, including sole proprietorship, partnerships, corporations, and cooperatives. An LLC is a good option for many business owners looking to form a new business, but can anyone have an LLC?
What is an LLC?
An LLC is a legal business structure that's a cross between a partnership and a corporation. An LLC consists of members of which there may be one or several and either …
How can an Incorporation Course Help
Forming a business yourself can seem daunting, especially with all the legal requirements. You can choose from several options including a business attorney, DIY incorporation, and an online incorporation. Alternatively, find out how an incorporation course can help you form a business.
What is an Incorporation Course?
An incorporation course helps you work through the process of forming your business as a legal business entity, such as a limited liability company, LLC, or corporation. If you…
Beneficial ownership: What is It and Why is it Important?
The Corporate Transparency Act, which comes into force on January 1st, 2024, is a new requirement that most businesses must adhere to. While there are a few exemptions, most businesses need to prepare documentation for the law.
The law has been created to get the details of beneficial owners of businesses. Governments and law enforcement agencies can use this information to help track malicious business operating practices and illegal money transfers. But what is beneficial ownership, why is …
What is The US Corporate Transparency Act
There is soon going to be a new law introduced to the US. The US Corporate Transparency Act will create a robust, comprehensive record of beneficial ownership information. The goal of the new act, abbreviated to CTA, is to prevent corrupt business practices like money laundering and the financing of terrorism. Law enforcement agencies will use the information to track suspicious behaviors and prevent crime.
The beneficial ownership rules will apply to all domestic and foreign entities that have…
How to Buy an LLC
If you have a great business concept and business skills you might already be planning your LLC formation. However, you might also be considering how to buy an LLC, especially if you are unsure about starting a new business and find the idea overwhelming.
Why Buy an LLC?
So, why might you want to know how to buy an LLC? First of all, you get access to a business that is up and running. Everything will be in place and the business should already be making a profit. You’ll be able to avoid chall…
The Benefits of Registering an LLC in California
Registering an LLC in California can be a momentous occasion and the start of a lucrative business career that can help you take control of your financial future and career path. However, you don’t have to register an LLC in the state; you could be a solopreneur. This option is easier to start up, but there are benefits of registering an LLC in California which are discussed in this article.
What Does Domestic Limited Liability Company Mean?
There are two types of Limited Liability Company, do…