How to increase profits is on the mind of most business owners. There are only two ways to do it: increase prices or cut costs. The question is, what are the best and most affordable options for each, particularly during COVID-19? Consider the following 14 strategies to make you and your business more money in…
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17 Vision Statement Examples To Spark Your Imagination
A vision statement presents an inspirational vision of a company to guide growth, motivate employees, and connect with consumers. Aside from expressing your company’s goals and aspirations, the vision statement also provides a strategic planning framework to follow as a business. It instructs how you and employees should move forward and ultimately tells you where…
LLP vs LLC: What’s Best for Your Business?
The main difference between an LLP (limited liability partnership) and LLC (limited liability company) is that the LLP provides business asset protection from another partner’s negligence. If one partner were to get sued because of negligence, only that partner’s assets are held liable. Common LLP businesses are law, accounting, and architecture firms. When To Form…
What Is a Business License: The Beginner’s Guide
A business license allows a business to operate in a specific geographic location. Licenses are issued by the local, state, or federal government and are typically required for regulated businesses and those that present a danger to customer health or the environment. The cost and application process for a business license vary. Most can be…
41 Insightful Small Business Statistics for 2020
Small business statistics help us to better understand the recent and current state of small businesses in the U.S. Use these stats to make informed decisions about your business. Or, if you haven’t started your business, include them in your business plan. We’ve updated this list with several small business stats including the recent effects…
Trademark vs Copyright vs Patent: The Beginner’s Guide
Whether you’re a business owner, artist, inventor, or another professional, protecting your intellectual property (IP) is a wise decision. Depending on the type of work you’re trying to protect, this may involve a trademark, copyright, or patent—each of which comes with a unique purpose and registration method. Familiarize yourself with the differences to determine which…
12 Small Business Cybersecurity Tips
Cybersecurity is often not top of mind for small business owners. However, it should be. 43% of cyber-attacks target small businesses—since COVID-19, cyber-attacks are up 300%. For very small businesses, protecting your business is often straightforward—avoid phishing scams and change passwords frequently. However, as your business grows, so does the complexity and need for quality…
6 Best Registered Agent Services in 2020
Registered agent (RA) services are mostly similar—they accept legal and state documents on your behalf. Where they differ is pricing, customer service, and additional legal service plans. When choosing the best registered agent service for your business, consider your company’s legal needs and overall budget. The six best registered agent services for 2020 are: How…
State Tax ID: What It Is & How To Get One
A state tax ID is given to a business by the state to use when filing state taxes. Generally, states require these IDs for any business that is registered as a legal entity (LLC or corporation) or has employees. To get a state tax ID number, visit your official state tax website or use an…
Registered Agent: What Is It & How To Get One
A registered agent (RA) is a business’s official contact to receive important documents—a summons, subpoena, or registration renewal. While every state requires a business to have a registered agent, regulations may differ. Several states allow the business to be its own RA, and others don’t. If you’d like to hire a company to serve as…
3 Reasons CBD Will Overtake THC in the Legal Cannabis Market
The $13.6 billion legalized cannabis industry is booming; it’s projected to grow to a whopping $85 billion in sales in 2030. But not all cannabis products are the same. There are two major types cannabis-derived products: THC-based: Made with tetrahydrocannabinol, the primary psychoactive component of cannabis. THC gives the user a “high,” and is far…
26 Eye-Opening Coffee Statistics for Startups
Coffee sales in the US have increased for several years. At the same time, the cost of bulk coffee has been falling every year for seven years. If you have a coffee-based business, consider the stats below to create an up-to-date marketing strategy or business plan. 1. Coffee Shops Have Seen a 5,380% Sales Increase…