A rollover for business startups (ROBS) allows you to invest retirement funds from a 401(k) or individual retirement account (IRA) into your business without paying early withdrawal penalties or taxes. A ROBS isn’t a business loan or a 401(k) loan, so there’s no debt to repay or interest payments to make. Most small business owners…
How to Use a 401(k) to Start or Buy a Business
There are three ways you can use 401(k) business financing to start or buy a business. You can cash out funds, borrow against them, or use a rollover for business startups (ROBS). The only option that does not result in penalties, taxes, or interest charges is a ROBS, making it ideal for most situations. If…
5 Best Rollover for Business Startups (ROBS) Providers 2020
A rollover for business startups (ROBS) is a financing solution that lets you start or purchase a business with your retirement savings without paying early withdrawal fees or tax penalties. These transactions are difficult and confusing, which is why we recommend using an experienced ROBS provider. We’ve compared the best ROBS providers for startup businesses….
How to Start a Coffee Shop in 13 Steps: The Ultimate Guide
You’re thinking about opening a coffee shop, but you have a lot of questions about where to start. Let’s face it; launching a new business can be complicated. You want to know how to start a coffee shop that actually makes money—because if you’re going to open this business, you definitely want it to make…
Black Entrepreneurship 2020: A Special Report and Definitive 50-State Ranking
The story of Black business ownership in 2020 is one of both explosive growth and constant societal roadblocks to success. Black-owned firms grew 34% from 2007-2012, totaling 2.6 million companies, and minority small businesses in general increased 79% by 2017. The top 100 Black-owned companies generated $30 billion in 2018, and a whopping 50% of…
Top 6 Venture Capital Firms 2020
Venture capital is the investment in startups and early-stage businesses by private investors or firms, and is a form of private equity investing. In exchange for funding, venture capitalists receive equity in the startup. It is most common in high-tech, high-growth industries, including internet and software services, biotechnology, and industrial manufacturing. 6 Best Venture Capital…
Credit Card Stacking & Using It to Fund Your Startup
Credit card stacking is the practice of applying for multiple credit cards at the same time to access a larger unsecured line of credit. Once approved, you can use your stack of credit cards to finance a startup, small business, or real estate deals. This works as an alternative working capital funding source for businesses….
15 Best Fitness & Gym Franchises in 2020
As fitness becomes more of a lifestyle than a trend and people are conscious about getting fit, entrepreneurs are taking advantage of this by investing in gym and fitness franchises. Fortunately, there are different fitness franchises to choose from, with an average cost of around $350,000. We researched data on the 15 best-performing gym franchises…
10 Eye-opening Crowdfunding Statistics 2020
Crowdfunding is a popular method of raising funds for startup business expenses, charities, and personal causes. While funding isn’t guaranteed, crowdfunding statistics show us that a strong pitch and continued communications throughout your campaign can increase your chances of success. The ten most eye-opening crowdfunding statistics are:
Best 12 Types of Online Businesses to Start in 2020
An online business is a digital-based business built on the internet. Types of online businesses vary greatly from online coaching to a subscription box service. Utilize currently owned resources such as a smartphone and computer to create an online business for no-cost such as a vlog on YouTube or a T-shirt design company. For each…
6 Best Online Incorporation Services in 2020
Online incorporation services help business owners form a corporation, such as a C-corporation (C-corp) and S-corporation (S-corp). A business owner needs to register their business as a legal entity to protect against personal financial liability. The best incorporation services provide a great customer experience through an easy to use software, educational materials, and friendly customer…
Best States for Female Entrepreneurs 2020—Definitive Ranking of All 50 States
There is no more exciting time for the female entrepreneur than the present. According to a 2019 American Express report, the number of women-owned businesses has increased 21% within the past five years, compared to only 9% of all businesses—and with double the annual growth rate! As the start-up landscape braces for an unprecedented era…