ABCs of Small Business Industry: I is for Insurance

This week we decided to cover a relatively broad small business sector – the insurance industry. Now, the insurance industry is a heavily regulated, slightly complex field to work in. There are tons of hoops that independent agents and brokers have to jump through before they are even allowed to open their doors. Insurance Industry But it is a vital industry – in some cases insurance is required by law – so a business could do quite well within it. So how do you start a company in the insurance industry? And is it worth all of the effort?

How do you get started in the insurance industry?
Insurance is a regulated field, which means you need to be licensed before you can begin. You also usually have to take some sort of course as well before the state will issue you your license. Continue reading

Experts Weigh In: Does your business have a unique holiday schedule?

Businessman offerAs the owner of a small business, you have a lot of freedom in deciding how things are going to be run. If you wanted to, and you felt it wouldn’t impact your business negatively, you could give yourself and your employees a winter break, elementary school style! Each business tackles the holidays a little differently when it comes to taking some time off in a season infamously known for traveling away from the office. We asked 15 of our small business experts how they tackle their holiday schedule and this is what they had to say: Continue reading

Small Business Spotlight: Campus Enterprises

Campus EnterprisesIn our line of work, we are introduced to hundreds of small businesses on a daily basis- and we LOVE it! Each entrepreneur brings something so drastically different and special to the table. Though when we stumbled upon Campus Enterprises recently, we couldn’t help but be intrigued by their unique story.

Campus Enterprises is a company completely run by Duke University students. Though, going beyond any typical student-run business that provides “for the students, by the students,” Campus Enterprises also has a large presence in the community surrounding Duke University. They offer such services as food delivery, laundry, note-taking, screen printing, cleaning, marketing, and expansion. As their website states, they’re a “one-stop shop for your daily needs.”

We had the pleasure of interviewing Campus Enterprises about their inspiration for the business, its history, and what the students who participate, as well as the community, gain from this unique venture.  Continue reading

ABCs of Small Business Industry: G is for General Contracting

This week we’ve chosen to cover a very important sub-sector of the construction industry, general contractors. Now we did previously cover construction companies in an ABCs of Small Business Industry post. And you may be asking yourself if there are any differences between the two – don’t worry, there are. General contracting is a very specialized industry, with its own host of regulations and policies to follow. So how do you start a general contracting firm? general contracting

First, you need to be a licensed general contractor

Contractors are licensed, typically by the state. And without that license, you can’t offer your services as a general contractor. Licensing requirements vary from state-to-state, but most states maintain a database of active licenses, which the public can search through. Most of the companies looking for a general contractor will also want to see some sort of college training. Continue reading

Factoring and Asset Based Lending:Two Methods for Quickly Accelerating Your Cash Flow

Man holding tablet pc and credit card indoor, Shopping onlineWhen your cash flow does not meet your working capital and growth requirements, you can turn to financing through factoring or asset-based lending for a solution.

Many of your customers delay payment on their invoices for 30, 60 or even 90 days – putting a strain on your business’s ability to meet its own financial obligations. Factoring and asset-based lending (ABL) are two solutions that can help you quickly replenish your cash flow. Continue reading

6 Easy Fraud Prevention Tips Every Business Should be Practicing

4 Creative Cost Reduction Tips for StartupsFraud has become a major concern for many businesses all over the world. Scammers have made millions of dollars by simply stealing information such as credit card numbers, passwords and banking details from companies. Business and consumers engaging in online transactions are especially at risk when it comes to fraud and identity theft. It’s so important for businesses to take measures to lower their chances of falling victim to scammers. Business fraud prevention doesn’t have to be huge, scary ordeal. Continue reading

5 Reasons Why Your Company Credit Rating Matters

How Quick Business Loans Can Encourage Business TurnaroundA company credit rating works in much the same way as an individual credit rating. So it provides information on how your company has handled its finances in the past with the aim of offering an insight into how it and you are likely to manage money in the future.

A company credit rating isn’t designed to be absolutely definitive or unchanging but it is important to have it in mind as an organisation of any size because its impact and relevance can be wide-reaching. Continue reading

Announcing our New Partnership with Paychex!

MyCorporation has spent the last fifteen years working tirelessly to help entrepreneurs realize their dreams and start their own businesses. Our mission has always been to make the lives of small business owners just a little bit easier. And it is with that mission in mind that we are proud to announce our new partnership with Paycheck Accounting Online℠!

payroll services

Paychex

Since its founding in 1971, Paychex has been a proven leader in payroll outsourcing, and today Paychex helps over half-a-million businesses to easily monitor and handle payroll, benefits, and human resources.

And now MyCorporation customers can start using Paychex for only $4.99/month for the first 3 months, with the rate increasing to a mere $19/month after that. All you have to do is sign up through this page and complete your business profile, and Paychex will start helping you handle your payroll, allowing you to focus on what you do best – running your business.

We are really excited for this partnership, and know our clients will love working with Paychex.

Six Solid Ways to Generate Leads Online and Offline

Man holding tablet pc and credit card indoor, Shopping onlineLead generation can be one of the most frustrating parts of having a business. Finding the key to what gets people to click on your site, or visit your storefront, is a feat not easily mastered by any business owner. To help ease that frustration, and get the ball rolling, here are six solid ways to generate leads both online and offline: Continue reading