5 Important Steps for Creating a DBA

5 Important Steps for Creating a DBANo matter what industry you are in, your business still needs a name. Not just a good one for marketing purposes, but also a name that isn’t taken by someone else and is filed legally as a DBA.

DBA stands for “doing business as” and allows your company to do business under a fictitious name (AKA one you made up) instead of your own personal name, names of your partners, or the name of your corporation or LLC. In order to do this, you must file for a DBA.

1) Does your company even need a DBA?

The first step in creating a DBA is determining if you even need one. The answer depends on whether your business operates as a sole proprietorship or as a corporation or LLC.

For Sole Proprietorships:

The only reason to not get a DBA is if you want your business to operate under your personal name only. Picking a business name will plant the seed for your brand to grow strong – and filing a DBA will protect it.

For Corporations/LLCs:

If your corporation or LLC wants to conduct any sort of business with a name that is different than the one you filed on your corporation/LLC paperwork, then you need a DBA.

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‘Doing Business As’ Names vs. Trademarks

Entrepreneurs are always going to be protective of their business’s name. After all, this is the name under which all of the goodwill and branding they’ve worked so hard to accrue will go. But there is still some confusion about the best way to protect that name. On the one hand, registering a ‘Doing Business As’ name does keep other businesses in your area from using the same name, and for some businesses that’s enough. 'Doing Business As' Names vs. TrademarksWhile a trademark on your business’s name offers a lot more protection, filing a trademark does take more time and money. So we decided to take a look at both DBA names and trademarks, and help explain what the pros and cons of each are.

Doing Business As Names
A DBA name, which is also referred to as a trade name, is just that – a name. It’s a quick and easy way to identify a business or entity, and filing for a DBA name is pretty straightforward. Continue reading

5 Things Entrepreneurs Need To Know Before Starting Up A Small Business

5 Things Entrepreneurs Need To Know Before Starting Up A Small Business Are you a potential entrepreneur considering venturing into starting up your own business? If so, it’s important that you start familiarizing yourself with information on how to succeed in the current business climate right now. Operating a small business requires you to possess the necessary skills to plan and manage the business efficiently and a vision that seeks to grow from nothing to something substantial after a period of time. Here are the top 5 things an entrepreneur needs to know before starting up a small business.

1. A perfect business plan is indispensable.

A business plan is the foundation of any successful company today. It serves to chart out the goals of the business as well as the possible ways of achieving them and acts as a blueprint that outlines the road to the future of any business. It’s also a necessity when seeking financial help to set up your business, hiring future employees, and keeping track on how you run your business once it’s operational.

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Why a Professional Accountant is Important for a Start-Up

Starting a business is a step by step process – starting with an idea, a business name, and creating a business plan. A business plan includes the purpose of your business and how you will go about marketing or advertising the same. It also includes the expenses, liabilities, assists, budgets, and how your business plans to make a profit and grow. Growth alone is a complicated subject where you have short-term and long-term growth plans based on how well your business is doing. Once you’ve done this, it’s time to address legalities such as licenses, insurance, recruiting employees, etc.
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N is for Non Profit

For our ABC’s of MyCorp this week, we’re focusing on N for Non Profit which is also referred to as an NPO for non profit organizations. As stated on businessdictionary,com, non profits are generally charities, associations, and other organizations formed to further cultural, educational, religious, professional or public service objectives.

Before forming and looking into funding a non profit organization of your own, certain considerations need to be put into place to ensure that the formation is detailed and clear in the societal issue it is working on addressing. You can find out more information about the following eight points at our MyCorp “Forming an NPO” learning center!
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