The business report is tailored to the American audience. But, the trade-line guide is useful for any other person who want to start a commerce and establish an enterprise, anywhere in the world. Just take what applies to your location and conditions from this report.
The American Dream is, and always will be, to come up with an idea, start a trade line and become rich from your own efforts. Based upon this motivation, thousands of trades fail each year, due primarily to not being familiar with the basics involved in running a commerce.
Before we go, though, make sure that it is not about getting rich, as you'll never get rich over night unless you won a lottery. Any buying and selling process requires good researched and studied business ideas, good business math and good biz planning.
You may even need some financing ideas, as outlined through this page and through two financing services included in the Ezine Acts Business Financing (site map 16). See links at the last section of the page.
This report will enlighten you, and give you a number of suggestions you can use to better guarantee your chances for success. The report is written with the warning that any and every trade venture contains certain inherent risks, and any number of alternatives.
We do not espouse that any one way is the right way or that our suggestions are the only way. On the contrary, we advise that before investing any money in a business venture you seek counseling and help from a qualified accountant and/or attorney.
Just about the first thing you should consider before deciding to start or purchase a commerce is the legal form you'll be operating under. There are basically four choices: sole proprietorship, partnership, limited partnership, and/or corporation.
Each has a number of advantages and disadvantages. We'll try to enumerate some of them for you.
As much as anything else, for many people, starting a commerce is a form of ego-gratification, and they form a corporation for some sort of prestige gain… just to say, "I own a corporation."
With just a little bit of observation, you'll find that one of the major causes of business failures is due to the founder wasting start-up capital on frills, such as an impressive store-front office, expensive furnishings and corporate legal costs.
One of the basic traits you must develop if you're going to be successful in your trade line, is a tight hold on your expenditures. In fact, a good rule of thumb is that any thing that does not make money for you or protect your investment, should not be purchased at this time. Very definitely, this applies to the expense of setting up your own corporation.
Unless you have a partnership and start your commerce as such, the only real advantage to forming a corporation would appear to be that a corporate structure will semi-protect the property you personally own.
As an example, you own a home and car. You form a corporation to protect these possessions from trade losses. Yet, if you can be found guilty of misusing corporate funds, your business creditors can pierce the corporate shield and come after your possessions.
Basically, if you invest everything you have in your commerce, as most newcomers do, you don't usually need a corporation because you have nothing to protect. Your house hold possessions, personal belongings, generally your car, and even a portion of the equity in your home is protected by the homestead provision of the Federal Bankruptcy Act, and cannot be taken away from you.
As a sole proprietor or partner of a business you'll be paying taxes on your over all earnings, much the same as if you were holding down a salaried or hourly paid job. Whether you do or don't take out money as a salary will have no bearing on the earnings of your trade and tax return.
The often advertised advantage of incorporating, that you can manipulate your salary in order to save on tax dollars, is real because of corporation laws. However, the IRS frowns on this practice. When your commerce is successful and making a lot of money, definitely check with your accountant on the advantages of incorporating.
As a corporation, you'll be subject to a number of other drawbacks as well: generally higher state taxes, stricter laws concerning the operation of your business, more elaborate accounting procedures, and legal papers that are required just about every time you make a major move or sign almost any contract.
Thus, your legal and accounting fees will be much higher as a corporation than will those required for a sole proprietorship type of commerce.
As a sole proprietor or partnership, you'll find many areas require the registration of your trade-line name. The cost however, is minimal ranging from $5 to $100. About the best way to find out what laws apply in your area, is to call your bank and ask if they need a fictitious name registration card or certificate in order for you to open a business account.
Selecting a name for your commerce is quite important to you and particularly relative to advertising. Your trade name should describe the product or services you offer. Fancy names such as, Linda's Clipping Service will lose potential "walk-in and passing" customers to the beauty shop across the street that calls itself, Patti's Beauty Salon or Jane's Hair Styling Shop.
The advantage of using your full name in the title of your enterprise, such as Johnny Jones' Meat Lockers, has the advantage of making credit somewhat easier to come by, provided you pay your bills on time, but it also includes the disadvantage of confining your services to a local or at most, a regional area.
Think twice before you make any decision along these lines. Most trades tend to grow quickly or they never get off the ground. There are a few exceptions, but only a very few, that tend to grow at a modified rate.
So, buying a piece of property and setting up your commerce on or within that property, obligates you to ownership regardless of what happens to your enterprise.
Leases are almost always very strong contracts written by attorneys to the advantage of the property owner. When you sign an agreement to pay someone for the use of their space over any length of time, you're "nailed in" to paying for that space regardless of what happens to your business.
In the beginning, it is wise to either get the shortest-term lease possible, or arrange to rent with an option to lease at a later date. This does not apply to a retail trade, unless your particular commerce happens to be an untried one.
Definitely, you should open a business bank account. In selecting a bank for your business, scout around and look for one that can, and will help you. Determine what your banking needs will be, and then via telephone, interview the managers of the banks in your area.
The important thing is to be discretionary and not select just the most convenient bank to your enterprise location.
A point to remember: the closer you can make the relationship between you and the bank manager, the better your chances are going to be for approval on loans and/or special favors you may need at a later date.
Try to become acquainted with as many of the bank employees as possible. The better you know them, the more courtesies they'll be extending especially to you in the course of your association.
Just as a doctor is a specialist in his field, and you go to him for medical problems, your banker is a specialist in his field and you should go to him for your money problems.
In business, you'll have to learn that everyone is an expert in his own line of work, and in your associations with other trading people, refrain from acting like a "sharpie" and/or pretending that you know exactly how everything works in someone else's specialty.
You'll find that very often, different banks specialize in different types of commerce. As an example, you're sure to find banks that specialize in real estate transactions, export-import trades, and even manufacturing operations only.
What I'm saying here is that if you're planning to sell a fairly expensive item, your customers will probably need and/or want financing. It will behoove you to select a bank familiar with your type of product that will afford your customers, through you, contract financing.
Some of the questions you should ask of your banker include the following:
In almost all types of businesses, it will be to your benefit to set up with your bank a method of handling VISA, Master Charge, and regional credit cards. The important thing here is to ultimately set up your account in the bank that will service all of these credit transactions for you... one stop for all your banking needs.
In most instances, you'll find that having the capability to fill orders/make sales via credit card transactions, will increase your volume of sales appreciatively.
Once you've made the decision as to which bank is going to handle your account, you'll need your Social Security Number or your Federal Employer's Identification Number, your driver's license, the fictitious name certificate, and if you're requesting a VISA or Master Charge franchise, you'll also need a financial statement.
For corporations, you'll also need a corporate resolution approving of the opening of your business account.
There are different policies exercised in just about every state regarding installation/hook-up charges by the telephone and utility companies. Some require a deposit, and some don't.
You'll find that a great number of city commerce license departments are there solely for the purpose of collecting another tax. Depending on the type of commerce you're asking to get a license for, the building and zoning people may inspect your premises for soundness of structure and safety.
Generally, you won't encounter any difficulties... you simply pay your fee to operate your trade in that city, and the clerk types your name onto a city license certificate.
Relative to sales tax permits and licenses, each state's rules and regulations vary widely. The best thing to do is call your state offices and ask for information concerning registry and collection procedures.
Many states require an advance deposit or bond, and you'll find that some wholesalers or manufacturers will not sell to you at wholesale prices until you can show them your sales tax permit or number.
Continue at Home Biz - home-biz-trends.com/home-business.html and get back to the page to read the relevant offline businesses reports, as they have more insights about many other businesses by names.
Taking any trade you think about on the internet is even more profitable. All that you'll need is some knowledge about choosing a niche for your commerce, as explained at Choose It and the CTPM Process.
I am quite sure that you'll get on your way to build a well focused commerce on the Internet on one topic when you read the topics I organized on the resources here.
In addition to starting a successful commerce, you may also be interested in the offline and online businesses on the Ezine Acts Articles (site map 9 A), with its extension into Ezine Acts Articles Section (site map 9 B), Ezine Act Articles Index (site map 9 C), Ezine Articles (site map 9 D), Submit Articles (site map 9 E) and Submit Ezine Articles (site map 9 F):
Biz Strategies Cat.: The title suggests the flexibility of the cat, although you could read the abbreviation of category right because of the full stop at the end, to be taken by any trade, whether it is offline of online. The page has more insights about this term of expression and the term of the commerce, of course..
Biz Center: No one will ever urge that the presented online centre has serious competition in this field of this expertise, because no single company in the world has the complete tools and tutorials combined in one place to make it easier to improve your life.
Biz Ideas: The ideas are numerous and you can find them on many hyperspace built page. But, the page has only experimented and proved to be good ideas to choose one of them and work it out to make your life more better.
Biz Math: We need it to collect the profitability values of any trade we want to do online and to see the real mathematics in the terms we want to use to build something that generates income and makes life a pleasure.
Biz Planning: This should follow the step mentioned above to build the outcome of the collected values in the terms we have in our plan, so we could achieve the whole project successfully. It is of course, the first step to do when you think of planning for such project.
Biz Questionnaire: Although the page has some question to read and then answer, but you could make the best of it by taking some question onto your text document and then conducting a search to research your findings and use the data you get to improve your project.
Biz Relations: The insights show you in easy read article how to be careful when you decide on taking some partners in. You should only choose partners who really add values to your project with some income included to improve the project from within.
Biz Reports: The article you read on this page and relevant linked pages is part of the reports, which include many projects you could focus on one of them and build it following the guidelines on the given pages above.
Ezine Acts Biz Marketing: This is the site map 15 A on the Ezine Act Blog Website. There are many Ezine Acts Articles (site map 9 A) in this section, which extends into Wise Biz Newsletter (site map 15 B), Wise Biz Marketing (site map 15 C), WBM (site map 15 D) and Ezine Acts Newsletters (site map 15 E).
Ezine Acts Biz: The page teaches you through personal experiences how to avoid mistakes and how to focus on the most things that interest you and choose one right to build your future and make it a peasant future.
It is great idea to get the advices with the complete explanation provided to work your project right and build it successfully.
Ezine Acts Biz Financing: This is the site map 16 on the Ezine Acts Articles Section (site map 9 B). It has not any extensions, but some supportive pages linked somewhere here you can find by similar terms on this section.
The main articles are about financing urgent needs for money. But, the insights included show you how to generate income from other projects you build following the guidelines on the relevant pages.
Ezine Acts Biz Forums: This is the site map 14 A and it has many articles associated with commentaries that extend into Ezine Acts Discussion Board (site map 14 B), Ezine Acts Forums (site map C) and SBI Discussion Board (site map 14 D).
However the emotional articles on the forums extends to many site maps on Love (site map 6 A), with its extension into Love Consulting Services, Ezine Acts Love Commentaries, Ezine Acts Love Entries, Ezine Acts Love Stories and Ezine Acts Sentimental Stories.
Ezine Acts Biz Opportunities: You probably saw many of these business opportunities online. However, the page focuses on few opportunities, which have proven to be of great value to many people.
Ezine Acts Biz Publicity: This is the site map 19. It includes to best insights to promote your project. However, it doesn't depend on the Ezine Acts Advertising, for example, but on many methods you can use the best of them to improve your project.
Ezine Acts Home Biz: This is the site map 1 A), with its extension linked here below to get you the most relevant articles to project wisely, so you could succeed in a short term. The guidelines include both online projects and offline projects that you could turn into online projects.
Ezine Acts Offline Biz: This is the site map 21 A, with its extension into Online Free Consulting (site map 21 B). It is obvious that the insights include are projected to help you define the best methods to build and maintain your offline projects.
Ezine Acts Survival Tips for Small Biz: Many projects of such kind have appeared and disappeared suddenly, which indicates that they were not planned well. So, it is obvious that the insights are provided to help you save time and concentrate on the best methods to build your project.
Home Based Biz: This is the 1 B extension of the site map numbered above. So, you should work your work at home project following the insights on this site map to avoid failure.
How Small Biz Affect Our Economy?: The answer seems difficult to many people I asked. Thanks to the entry, it has some answers to read, study and then work accordingly to maintain your project.
Local Biz: The first set of insights on the page gets you to work such project online too. This is absolutely good to marian the offline project. The guidelines include the best ways to achieve that.
Online Biz Consulting Services: I provided these services previously. Although the services have stopped, but the page with the Ezine Articles included help you to use your, hobby, knowledge, or passion to improve your life.
Small Biz: It is absolutely right to start and build any project as a small project. To do that you should focus on the most things that interest you and you know great deal of information about to build the project, as small as you could. From this point and when the project succeed, you can get farther to build narrow niches connected with that project.
Small Biz Consultancy - home-biz-trends.com/small-business-consultancy.html: This is the extension (2 D) of the Collective Consulting Services (site map 2 A). The extension (2 C) is at Online Free Consulting Services. The services have also stopped at this point. But, the pages are good read to see how you could use the insights to build and improve your project.
The following website building, automating, optimizing and monetizing tools empower this page and the entire Ezine Act at Khalid Osmans Network. You'll be rising from above, when you use them to build anything in your mind a theme focused website out of your hobby, knowledge, passion, or professional and personal experiences to improve your life.
Commentaries on the Ezine Acts Art and Culture, Ezine Acts Art Links and other businesses including the Ezine Acts Associate Programs, Ezine Acts Fine Arts and the Ezine Acts Game Site appear at the Ezine Acts Discussion Board and the Ezine Acts Forums.
Comments on the Ezine Acts Humanitarian Network, the Ezine Acts Inspirational Articles and other biz commentaries including the Ezine Acts Inspirational Sites, Ezine Acts Internet Marketing and the Ezine Acts Literature appear at the Ezine Acts Comment C2 Entries. and the Ezine Acts Forums.
Commentaries on the Ezine Acts Motivational Articles, the Ezine Acts Motivational Sites and other biz comments including the the Ezine Acts Political Section and the Ezine Acts Traffic Converter appear at the Ezine Acts Business Forums and the Second Section of the Comments.
Comments on Solo Build It appear at the Ezine Acts Forums and the SBI Discussion Board.
I addition, the following A-Z by URLs Articles:
Bed and Breakfast Home Based Biz - home-biz-trends.com/bed-and-breakfast-home-based-business.html,
Home Biz Legalities and Tax Advantages - home-biz-trends.com/home-business-legalities-and-tax-advantages.html,
How to Accommodate A Home Based Biz? - home-biz-trends.com/how-to-accommodate-a-home-based-business.html,
How to Collect Debts Other People Owe You? - home-biz-trends.com/how-to-collect-debts-other-people-owe-you.html,
How to Get the Bill Collectors off Your Back? - home-biz-trends.com/how-to-get-the-bill-collectors-off-your-back.html,
Secret of Internet Success - home-biz-trends.com/secret-of-internet-success.html appears at the Ezine Acts Business Forums, the Ezine Acts Forums and the Ezine Acts Comments.
Love Comments and love problems submitted through Love Consulting Services, Online Free Consulting Services and Online Love Consulting Services appear at the second linked page, as well as Ezine Acts Love Commentaries, Ezine Acts Love Entries, Ezine Acts Love Stories and Ezine Acts Sentimental Stories.
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