A SWOT (strengths, weaknesses, opportunities, threats) analysis is an exercise to help you make a business decision. The decision could be for a simple endeavor: adding a new product—or more complex like starting a business. You may choose to do a SWOT analysis on your own. However, we recommend doing it with others to get…
Starting a Business
How To Set up an LLC With LegalZoom – Step by Step
LegalZoom is an online legal service that assists you with the LLC (limited liability company) registration process. While you can register your LLC yourself through the designated state website, many business owners choose to have an expert, such as LegalZoom, assist with the process. Throughout LegalZoom’s LLC registration, you may see questions and other products…
11 Best Websites To Find Franchises
Numerous websites help you find franchises—but they are not all the same. Some websites have in-depth reviews, list international franchises, and provide direct support. Other websites may specialize in franchise resales such as BizBuySale and BusinessBroker.net. Here are the 11 best websites to find franchises: 1. Franchise Business Review Locations: USA-only Offer franchise resales: No…
How Much Does a Patent Cost? The Beginner’s Guide
A patent’s cost varies depending on its type, complexity, and if you hire an attorney. In general, you can expect the following costs to file a patent: USPTO fee (government): $50 to $700 Maintenance fee (renewal): $400 to $7,400 per year Patent lawyer (search and application): $1,000 to $10,000 Total patent cost: $1,500 to $15,000…
14 Strategies To Increase Profits
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…
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…
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
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…