ABCs of Small Business Industry: W is for Waste Management

Waste management is one of those industries that people take for granted. A lot of cities have some sort of publicly-funded waste service, so most people don’t really think about who takes out their trash. But waste management is actually comprised of lots of small businesses, which often work together to service the needs of their city. Waste Management So what does it take to get started in waste management? And is there still room in this industry for a new small business?

How do you get started in waste management?
Waste management and garbage disposal is actually so much more than the big trucks that drive through neighborhoods once a week. Anyone who offers to haul away garbage, waste, recyclables, or junk is technically a part of this industry. So really all you need is a DBA, a truck, the right licenses and insurance, and you’re ready to go. However, anyone who dumps in a landfill has to pay for the privilege, and if you manage a lot of waste, you should try negotiating a cheaper rate with your landfill – most offer a set, per-ton charge. Continue reading

Business Basics: Reinstatements

Reinstatement is what you have to do to get your business out of an inactive or bad standing with the state. And this time of the year, we’re getting tons of requests and questions about reinstatements from people who let their corporation or limited liability company to lapse, but want to get things rolling again before we get too far into 2015.
Reinstatement Luckily, the reinstatement process is pretty straight-forward, though depending on the reason for the lapse, it can get a little pricey.

How does a company become inactive, or get put in bad standing?
There are a few different ways this can happen. But one of the most common reasons behind a bad-standing is simply the business’s owner forgetting to pay their annual fee. Continue reading

ABCs of Small Business Industry: U is for Underwriter

Underwriting is a vital part of the financial and insurance industries. An underwriter is effectively the person that assesses risk, and determines the suitability of potential clients looking to avail of whatever service their employer provides, be it insurance, a loan, or capital. Underwriters have the responsibility of defining the terms within which the service will be offered. And, because of this, they are in very high demand. underwriterAfter all, without a qualified underwriter, lenders and insurance agencies would be lost. But how do you become an underwriter? And can underwriters work independently as a small business?

What do you have to do to become an underwriter? 

Normally, you at least need a bachelor’s degree in finance, or another business-related field. Underwriters also have to be meticulous, detail-oriented, and thorough. Continue reading

Business Basics: Privately Held Companies

Welcome to the first ‘Business Basics’ of the year! We are starting 2015 off strong by looking at privately held companies. The structure of privately held business is often misunderstood. People wonder what distinguishes a privately held company from a publicly one, or believe that any business run by a non-government entity constitutes a private company. That isn’t the case, and so to clear up any confusion, we’ve answered some of the more commonly asked questions we get about private companies. Privately Held vs Public Company

What is the difference between a privately held company, and a public one?

A privately held company is also known as a ‘closed company,’ because the ownership of the business is closed. In other words, you can’t just decide to buy a chunk of the business off of the market. Continue reading

ABCs of Small Business Industry: S is for Stockbrokers

Welcome to our weekly post on small business industry! We took a couple of weeks off for the holiday, but now we are back and ready to tackle S – Stockbrokers! The financial industry is notoriously complex, so starting your own, private brokerage firm can be a bit tough. Stockbroker However, with a bit of experience and all of the right qualifications, it can be done!

Are stockbrokers heavily regulated?
Yup! Independent brokers have to jump through loads of regulatory loopholes before they’re allowed to open their business. Continue reading

MyCorporation’s 2015 Small Business Industry Predictions

2015 is officially here! And business forecasters all across the internet are scrambling to their crystal balls to give their predictions as to what is, and isn’t, going to work in the new year. Of course, if you regularly follow our blog, you’d know we beat them by a good month with our infographic “2015 Small Business Industry Predictions.” But just in case you missed it, or you want a refresher as to what we think will be the best industries to start a small business in, here’s a quick rundown of what we think is going to happen.

What industries are going to do well in 2015?

Fastest growing industries

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Our Five Top Posts of 2014!

Happy New Year! 2014 was an awesome year full of growth and renewal here at MyCorp. It was also the best year our blog has ever had! And that’s largely thanks to the slew of guest-posters and small business experts who have been kind enough to contribute. While we could spend hours going over our favorite posts of 2014, we thought our time might be better spent highlighting some of the top posts from this last year.Top Posts of 2014

The Most Viewed – “3 Keys to Crafting the Perfect Logo”

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Business Basics: End of the Year Prep

The end of the year is right around the corner, and every year we hear small business owners panicking about December’s rapidly approaching end, wondering what they have to do to end the year right. Not to worry – ending the year is actually pretty easy, as long as you don’t wait until the last minute to get everything done! So if you haven’t already, start thinking about…
End of Year Prep

Submitting any filings or dissolutions

Some of the most common questions we are asked revolve around the best time to form an LLC or incorporate. And while there are no ironclad answers to those questions, the beginning of the year is normally a good time to send in that paperwork. Deadlines and renewal dates are easier to remember, staying on top of your taxes is simpler, and you can even file your paperwork early and miss the beginning of the year rush if you opt for a delayed filing. Continue reading

ABCs of Small Business Industry: P is for Publishing

We are onto the letter P in our weekly ABCs of Small Business Industry posts, and this week we are going to look at the publishing industry! The publishing industry has had its highs and its lows over the last few years. And, with a few major publishers facing rocky business, it is too easy to assume that the industry is on its last legs. However, small publishing agencies may be entering into a bit of a renaissance, and now could be a great time for new businesses to get into the publishing industry! But how do you do that? And what proof is there that the industry is doing better?publishing industry

What do you need to do to get started in the publishing industry?
Like most unregulated industries, you don’t need anything special to get started in publishing. A DBA and any local licenses and permits are, at the very least, what you need to open your doors. Continue reading

ABCs of Small Business Industry – M is for Marketing

We are onto M in our series, and this week we are looking at the marketing and public relations industry. Marketing and PR is often seen as a hard industry to break into. There are a lot of rival firms – some big and some small – and new businesses often have trouble figuring out how to stand out. But with a good amount of experience, the right contacts, and enough work ethic, it is possible for a company to succeed in the growing marketing and PR industry. marketing industry

What do you need to start a business in the marketing industry?

Most experts say that the most important factor to a new firm’s success is marketing experience. You need friends and contacts to really succeed. And while it is totally possible to build a successful business with no experience in the marketing industry, it’s really, really hard. There are a lot of lessons you learn about marketing and PR by working within the industry, and a major part of that industry is who you know. Networking is much more effective than cold-calling.

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