6 Things I wish I’d Known Before Starting my own Business

Couple standing in front of organic food store smilingStarting your own business is hard. I knew that going in, but I didn’t know just how tough the first few months were going to be. The initial setting-up jobs – the phones, the internet, the space (my living room) were simple enough, but it was when the actual work started that things began to unravel. With hindsight, there were things I wish I’d known before I started which may have helped the business settle down and begin to succeed more quickly.

I wish I’d known… Continue reading

MyCorp FAQs: How do I start collecting payroll taxes?

The IRS, nearly every state tax agency, and even some cities require employers to withhold a certain amount from their employee’s paychecks to cover income tax, social security, and medicare obligations. payroll taxesThese are payroll taxes, and it’s your responsibility, as a small business owner, to collect and send them in. The amount varies from state to state, and in some cases city to city, but there are three main steps to collection.

Calculate
Everyone you hire fills out a W-4, which gives you some basic information like family size and other deductions. Continue reading

4 Healthcare Considerations for Start Up Entrepreneurs

5 Ways Candy Hearts Can Help Show Love for Your Customers on TwitterStarting a new business can be extremely exciting and extremely terrifying at the same time. You have a great idea and are free and independent to conquer the marketplace, but every aspect of running a business rests on your shoulders.

After the mountain of preparation, state and tax filings, presentations and planning, many do not think about their healthcare finances until it’s too late. Continue reading

Four Benefits of Energy Project Finance for Business

Environmental IndustryEnergy Project Finance makes sound business and ecological sense. Any organization that strives to bring down non-renewable energy costs should seriously consider it.

Businesses Can Achieve the Following Benefits through Energy Project Finance

One of the biggest challenges of implementing a green energy project is the financial feasibility. It is no secret that all businesses compete with each other (energy sources notwithstanding) and calculate profits on the basis of returns earned on investments made. That is the ultimate litmus test.  Passing this litmus test results in the following tangible benefits: Continue reading

5 Ways to Declutter Your Business

Waste ManagementEvery home needs a spring cleaning and a business is no different. The constant influx of paraphernalia that accompanies any business can grow into an oppressive mountain of the unused and unwanted. There are other larger issues that might also be bloating your business, such as staff that you may be keeping on for sentimental reasons. A cull can be painful, but your business and mental state will benefit in the long run. Continue reading

New and Upcoming Business Techniques

New Business TEchniquesTraditional practice and descriptions of business development are more concerned with marketing techniques to grow an enterprise. Most of the focus in these techniques centers on traditional marketing techniques with a strong emphasis on customer acquisition, (finding and reaching customers), and customer retention (keeping customers satisfied).

New business techniques focus more on going beyond the product and service that a business offers. It also encompasses advice, delivery and adapting to the customer’s needs. New business techniques are therefore concerned with an enterprises service and or product, marketing and design of a business model. Continue reading

Mo’ Money, Mo’ Problems: Sales Tax Edition

Your eCommerce store is growing! That’s a good thing, right?

Well, for the most part, darn right it is. But as you’ve probably noticed, as your little online store grows up, so does the complexity of running it behind-the-scenes.  And one of the most complex aspects of running a thriving online store is dealing with sales tax.Wallet

Today we’ll help you pinpoint some of the more onerous aspects of handling sales tax compliance in your growing eCommerce store, and what you can do to put a lid on sales tax.

Problem: You have sales tax nexus in multiple states

Let’s say that when you started your business you lived in and ran everything about your business – sales, fulfillment, customer service – out of your garage in California. Sales tax in this instance is simple. You have sales tax nexus in California and must collect sales tax from buyers in California. If you sell to a buyer in another state where you don’t have any significant connection, like Virginia, then you don’t collect sales tax. Simple, right? Continue reading

Everything You Need to Know About Working Capital: An Infographic

From our friends at Sollertia:

‘Working capital’ is one of those phrases frequently used in business, but often misunderstood. With this in mind, we at Sollertia thought it was about time somebody put a really good infographic together on the subject.

What is working capital?

Put in its simplest terms, working capital is the money to which a company has immediate access. When valuing itself, a firm may include the land and property it owns, along with fixed assets like machinery. These have value of course, but the cash is locked up in them, so getting access to it would take time and involve major changes.

Calculating working capital means weighing up your current assets against your existing liabilities. It might sound complex, but the infographic gives the lowdown on how you should go about this, and what you should and shouldn’t include. Continue reading

5 Ways to Boost Business Productivity

Garden_Shop_OwnersProductivity is at the heart of any successful business and taking steps to improve the efficiency of your work force might be easier than you think. If you think your work environment could do with a shake-up but don’t know where to start, you’re in luck. We have put together a list of 5 ways you could boost your business productivity with very little effort. Sounds good, right? Keep reading to find out more:  Continue reading