To Partner or Not Partner? That is the Question…

When someone starts a new business, one of the first decisions to make is whether or not to form a sole proprietorship or partnership. Partnerships alter the legal structure of the business, taxes and relationships in ways you must consider before you simply assume the best solution is dividing ownership of the business.

To partner or not partner? Shakespeare meme

There are pros and cons of bringing in others as partners instead of hiring them as employees or receiving loans instead of giving away equity.

Paperwork

It is easier to create a general partnership than form a corporation. The biggest risk this creates is personal liability. A corporation is a separate legal entity that has to have its own financial accounts and takes on the financial and legal liabilities of the company.…

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5 Tips For Keeping Good Employees

Finding a good employee is something that you should fight hard to keep. Without a solid team your business runs the risk of becoming a mess full of miscommunications, poor service, and could even lead to loss of money for you.

Retaining good employees

Many people make the mistake of taking a good employee for granted and allow them to slip away only to realize through a long string of employees following that one that it is hard to find good ones. Therefore, follow these tips to make sure you hang on to a good employee when you have one.

Offer Benefits

One of the best ways to appeal to a good employee is offering benefits such as stock in the company or providing medical insurance.…

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How To Hire Help For Your Small Business

So, you started your own small business and now you feel like you can’t do everything on your own. Maybe you just want to find someone to help when you have overflow or many you want to have a steady assistant. No matter what kind of help you need for your small business there are some things you need to keep in mind.

Hiring tips

There is a difference between an actual employee and a contract worker, and you need to know the differences of employing them. This will help you find the right help for your business, and maybe save money while you’re at it.…

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I love Those George Foreman Commercials And InventHelp

Many companies and entrepreneurs need a regular stream of new ideas in order to expand or even stay in business. Individuals who have a talent for invention often need someone with business sense who can not only promote an idea but also ensure it is properly patented. Thankfully, there is platform where inventors and those in need of inventions can meet each other. It’s called InventHelp.

InventHelp logo

Have you seen those commercials with George Foreman? It’s Time to call the friendly staff over at InventHelp to fuel your next invention!…

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The First Five Things You Should Consider When Your Business Starts to Boom

Everyone who starts a business does so with a dream in mind; however, very few actually make that dream a reality, let alone a profitable one.

However, what happens when the seemingly unthinkable happens and the money actually starting rolling in?

Startup growth

Oddly enough, raking in the dough as an entrepreneur can be both a blessing and a curse. After all, there are plenty of options on the table which can be quite daunting as a business owner.

For example, is it best to conduct business as usual and pretend like your profits aren’t even there? Should you immediately invest the money back into your business?…

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How to Stand Out When Applying for a Job in Australia

Australia ranks high among the countries in the world when it comes to its resilience in the face of global crisis. Its beautiful natural landscapes, low pollution levels, low population, and eminent positions in quality-of-life rankings attract people overseas to come and make Australia their home. The country’s multicultural society also offers the kind of diversity that makes it easier for migrants to fit in.

Sydney, Australia busy street

But similar to many other countries in the world, finding a job in Australia can still be challenging for many individuals. Even with a low unemployment rate of 6% in 2015, Australia can sometimes be a difficult place for job-hunting because many applicants tend to lack the necessary occupational skills or because they are unable to produce evidence of applicable work experience.…

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Important Financial Tips for the New Small Business Entrepreneur

People start small businesses all kinds of ways, but one common factor within these diverse origin stories is the difficulty of controlling money. Money, essentially, is the reason all businesses exist. When your business starts up, it’s flowing all over the place.

New business financial meanagement

If you don’t have a lot of experience in the world of business accounting, it can be difficult to get the finances right during the critical early stages of your business’s existence. Following the following steps will help you correct early errors, and ultimately stay in business for a lot longer.

Separate Private and Business Finances

It’s common, in the early stages of your small business’s existence, to mix up your personal and business finances.…

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Taxes And Your Small Business

Debt is a pain, and if you run a small business your personal debt could have an effect on your business and your taxes. Freelance and contract workers have enough to deal with when it comes to tax time, so it’s not fun to learn that there are other things that can mess with you when tax time rolls around.

Doing taxes

One depressing thing is knowing that if you get a good deal paying off a debt it could come back to bite you when you file your taxes. You just might get a 1099-C in the mail for the money you saved, which will make it count as part of your income for the previous year.…

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Stopping Slip and Fall Accidents: What to Do Before Bad Things Happen at Your Business

If you are a small business owner then you have plenty to worry about, including ensuring that your clients are satisfied, double checking that your inventory is well stocked, and making sure that your suppliers can be relied on. One thing that you may have overlooked but which could make a big difference to your business’s bottom line is a slip and fall accident.

Caution wet floor sign

As a business owner, you are responsible for ensuring that your business is safe for any visitors, including customers and employees. If you fail to provide a safe space and a person slips and falls then you could be held liable and the cost to your business could be extremely high.…

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How Your Small Businesses Can Compete With Big Companies

A few years ago, small businesses that tried to compete with big brands found it difficult to keep up. For those business owners, it was an uphill battle they could not win. But today, your business can co-exist profitably with big box stores using these tried and tested approaches:

Customer service is your competitive advantage

Take Your Business Online

If you haven’t done so yet, it’s time that you do. Having a strong online presence is key to your success. Why? Because everyone is online nowadays! Build a professional website and use professional SEO services to help get your website as high up as possible in Google searches.…

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