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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What’s Next?: Ten Tips for a Successful 2015

How to Keep Your Sales Team MotivatedRight now as we tussle between finishing up commitments of the year gone by and anticipating coming opportunities, business owners and leaders are finding themselves taking stock of where they are, where they want to be, and identifying the things they need to do to get there.

Experts are predicting that 2015 will focus on physical and fiscal health and fitness. In addition to the more popular weight loss and general fitness categories, individuals will also be focusing on debt retirement and finding new ways to stretch their income.  On the corporate front, people are going to be looking hard for internal prospects and promotions; and greater numbers than ever before are planning to pursue entrepreneurial goals. Continue reading

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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Experts Weigh In: What worked in 2014 that you will carry into 2015?

MyCorp Celebrates!As 2014 comes to a close, business owners everywhere are reflecting on the past year. What worked? What didn’t work? We asked 54 of our small business experts what really worked for them in 2014 that they plan on carrying into 2015. Here’s what they had to say:

1.“In 2014, I learned about what it means to be fully online. I decided to move to Italy, and it truly impacted the direction of my new business. Moving for love forced me to work out how I could make money without ever actually meeting any clients face to face. Within 3 months I’ve gone from f2f to purely online AND increased my rates by 200% :)” -Deepak Shukla, The CV Guy Website  Continue reading

Experts Weigh In: How Do You Reward Your Employees at the End of the Year?

Gift_BirthdayWe all treat our employees in different ways at the end of the year. Some businesses give bonuses, some extra vacation days, and some give out turkeys as a means of thanks! We reached out to our pool of small business experts and asked them how they thank their employees at the end of the year. Here are our top ten answers:  Continue reading

ABCs of Small Business Industry: R is for Retail

Hippster_Drinking_Coffee_smHard to believe, but we’re already to the ‘Rs’ for our ABCs of Small Business Industry series! And today’s R is for… retail!

Now when we think retail we typically think of clothing stores. But retail can be broken down into a few different categories: store retail, specialty retail, non store retail, mail order retail, internet retail, and vending machines. Continue reading