A C corporation (C-corp) is a business structure typically used by larger companies or those seeking investments. Many business owners who opt to organize as a C-corp do it because they are required to, for instance if they have more than 100 shareholders. Other owners choose a C-corp structure to attract investors such as those…
Black business owners looking for training and certifications, access to funding, and assistance with key business operations like HR and sales can unlock access to programs and opportunities geared to help them succeed. Fit Small Business has created a list of resources for Black-owned businesses in the following areas: Training and certifications: Get certified as…
An S corporation (S-corp) is a federal tax designation that Congress created so small businesses could receive favorable tax advantages. An LLC (limited liability company) or corporation can elect S corporation status with the IRS, but there are requirements. To become an S-corp, you must set up payroll, have less than 100 shareholders, and only…
A feasibility study for small business is an in-depth research and financial analysis that recommends if one should pursue a business idea or product. The study contains estimates of items such as income, costs, obstacles, and technical challenges. Typically, a feasibility study for a small business costs a minimum of $5,000. However, they can cost…
From virtual team-building campfires to quantum leaps in AR technology, the coronavirus has motivated some enterprising business owners to think outside the box. And many entrepreneurs are not letting the pandemic or recession stop them, with 500,000 new employer identification number applications submitted since mid-March. A depression or recession can paradoxically be a great time…
The DBA (doing business as) is the public facing name of a business. For a sole proprietor, a DBA allows them to market a business other than their legal name. For an LLC, a DBA allows the owner to market a business with a name other than the registered name. Several states and counties use…
Right now you likely have a business idea. Awesome! Now you need to think through that idea by getting your thoughts on paper. The One-Page Business Plan will walk you through each step of planning your business idea. Once you know your financial projections, you can finish the basics of this plan in less than…
Home based franchises are businesses you can run from your home, or that have a mobile vehicle such as a branded truck. Much of the work conducted by the home franchises listed below can be either full time or part time. Additionally, many of the businesses can start as a home based franchise and grow…
