Banking is a huge part of running a small business. Between acquiring a loan, opening an account, and keeping up with paperwork, it helps to know the tricks of the trade. We asked our small business experts what they’ve learned about small business banking since starting their businesses. Here’s what they had to say… (more…)
Although internships are not necessarily a new idea, their rise as an essential part of the college kid’s life has only occurred in the last decade or so. Employers set out every year for a new batch of interns, each with their own set of requirements. From talking to my own college intern, I can tell you that most students her age don’t have a great grasp on the specific characteristics employers look for in an intern. The issue arises because many consider interns to be their own class of employee that has very different expectations than the rest of the company. We asked some experts on what exactly they look for in an intern and, as to be expected, the results were all over the board.
At MyCorporation, we’ve found that creating a login feature keeps our customers wanting to work with us. With MyCorp Vault, our customers can login to access their business documents whenever they need them. We also consistently provide assistance to businesses throughout their entire lives with services like filing annual documents.
We asked our small business owners how they create long-term relationships with their customers and this is what they had to say: (more…)
Owning a small business is exhausting. Ask any entrepreneur and they’ll tell you that the CEO never really gets a “day off,” but it’s still nice to get away every now and then. We asked our small business experts what they look for in a vacation spot. From the fastest WIFI available to fine dining, here’s what they had to say… (more…)
It’s no surprise that over 60 percent of all searches are now happening on mobile devices. To keep up with the times, Google has recently made changes to its search algorithm causing sites with mobile friendly experiences to be ranked higher when searched. MyCorporation recently debuted our new site to comply with the Google’s announcement and to create a more user-friendly experience. We asked our small business experts what their thoughts are on Google’s algorithm change, and how they’ve been adjusting… (more…)
Payroll can be tricky for small business owners. It’s a lot to learn if you want to tackle payroll on your own, and it can be costly to hire on a new employee or use an outside service. We asked our small business experts how they handle their payroll:
“We are a small organization with anywhere from 4 to 6 employees. In spite of the higher overhead, we use Paychex because of the ease of use and because of the clarity they provide while filing taxes.” –Denise Castronovo, Castronovo Chocolate (more…)
Each entrepreneur has a different path. Some realize their business dream a little later in life, and, others, as early as high school. We asked our small business experts how much education they received before starting up their businesses, and how they think that decision has played out for them.
“I started my business right after I graduated from college. In fact I graduated from college, moved to a new city, got married, and started my business all in the same month. I always knew that some day I would have my own business and by the time I was in my final year at LSU I realized that the best time to do this was right now, so I began doing freelance website development and Internet marketing. I signed a major client my first month so that made the transition to full time self employment much easier. 18 years later I’m still in the same business and glad that I ventured out on my own.” –Charles Ogwyn, My Internet Marketing Partner, Inc. (more…)
Payroll may seem like a straightforward topic, but there is a lot more to it than just tracking hours and cutting checks. Unfortunately a lot of small business owners don’t realize that and, before they know it, they’re up to their ears in tax forms and reports they’ve never even heard of. Calculating, and staying on top, of payroll can actually be pretty complicated, especially if you don’t have a background in accounting. So what do small business owners absolutely need to know about setting up a payroll system?
You must withhold taxes
The federal, state, and local governments can all levy tax on income, and it is your responsibility as an employer to withhold the necessary amounts from your employee’s paychecks and send that into the proper agency. (more…)
Protecting your intellectual property is so important. Your name, logo, and business creations tell your customers who you are. So making sure that no one can steal your company’s brand is one of the first steps you should make when starting a business. We asked some of our small business experts if they had any IP horror stories from when they were first starting out. Here’s what they had to say… (more…)
The short answer – yes. But, regardless, it may still be a good idea to hire someone else to be your registered agent. Registered agents exist because of due process. When you turn your business into its own, separate legal entity by forming an LLC or incorporating, you’re effectively giving it a right to due process. That means, before a lawsuit can go forward, your business must be properly notified. A registered agent, then, is the point of contact for notifying your business about impending lawsuits.
However, many states use a business’s registered agent as a contact point for other important matters. They’ll send state documents, franchise tax forms, and other reminders to the company’s registered agent, rather than to the company itself, since reaching an established point of contact is a pretty reliable way of getting in touch with the business.
For a nominal fee, you can appoint someone to be that point of contact.
So why wouldn’t you want to be your own registered agent? Acting as your own registered agent will save money, but there are downsides to that choice. For one, a registered agent must have a physical address within the state the company was formed in. So if you formed and do business in a state other than your own, you have to designate someone in that state as a registered agent.
Further, registered agents are the contact point for sensitive matters like lawsuits or summons. Having a registered agent outside your company keeps the office from panicking, like they would if you were served in your own office.
And finally, your registered agent is going to get a lot of important paperwork. It’s their job to keep track of what they receive, and send it along to you. When you run a business, it’s easy to overlook or forget about things like annual reports and fees. A registered agent will really help you from losing track of that important paperwork.
You – or in some states, your business – can act as the registered agent. Or you can hire an outside agency. Just be sure, regardless of what path you choose to follow, that your registered agent is dependable and discreet.