Ready to incorporate in Massachusetts? Today, we’re focusing on none other than the Bay State, also known as Massachusetts, in our 50 states of incorporation series. Massachusetts can be found in the New England region of the northeastern United States. It borders Rhode Island, Connecticut, New York, Vermont, and New Hampshire. Though it is the seventh smallest state in the US, it is the fourteenth most populous, being one of the most filled-to-the-brim states!
Massachusetts holds a great deal of cultural history as far as American states go. The town of Plymouth was one of the first successful colonies to be established in the country, and the state is also home to Harvard University (he oldest institution of higher education in the United States), and established brands including Au Bon Pain, Dunkin’ Brands Inc., and Staples all call the state home to their company headquarters.
As a small business owner, you understand the value great marketing has on your company overall. From positive brand recognition to customer loyalty, making the right marketing moves can launch your business in all of the right directions.
Unfortunately, you also understand that ultimately it’s the budget that rules the roost; and if you don’t have the money to market yourself, you’ll simply have to go without. But not so fast! There are some economical ways your promotions can go off with a bang, minus the upfront bucks.
By Jeremy Higbee
Even though there are budget problems right now, the government spends a great deal on government contractors, particularly small business owners. In 2009, the government spent $96.8 billion in contracts with small businesses. That’s a whole lot of money. Any small business owner or entrepreneur would be remiss to not take advantage of that large of a revenue opportunity.
That being said, it’s probably best not to attempt to rely solely on government contracting opportunities as a single source of income for your business. There are companies like Lockheed Martin that develops military weapons, jets, and satellites that rely solely on government contracts that run up into the hundreds of billions. Unless you’re planning on make the next F-35, I wouldn’t put all my eggs in one basket.
Since you’ll be dealing with the government, there’s going to be a lot of paperwork, registering, and seemingly pointless hoops to jump through. Here are the hoops that need to be navigated in order to benefit from Uncle Sam’s federal contracts:
It’s always been true, that if you love what you are doing, then it will continue on and your love will just grow. A business is the same thing. When you can do something for hours on end and not even realize that time has passed, you have found that one special thing you should be doing. If you can make it pay an income, you’ve found your very own nirvana.
Why you should be happy in what you do
Life speeds by really slowly when we are growing up. Can you hear yourself say, “When I turn 14, I can get my learner’s permit to drive.” “When I turn 18 I can’t wait to find my own place.” And then just as suddenly, “I can’t wait until the grandkids come to visit. It’s been so long.”
By David Nilssen, CEO & Co-founder of Guidant Financial
We all have dreams. They start off big when we’re very young. As we grow up, most of us temper our ambitions with a dose of reality and a need to fit in—to do what others do. This is true for aspiring (and frankly existing) entrepreneurs.
First, let me say that not everyone is cut out to be an entrepreneur. There is tremendous potential for reward—both material and in personal freedom and satisfaction—but there is risk in entrepreneurship, and a fearful or risk-averse person should not attempt it.
One of the first decisions every business owner needs to make is what entity to file their business as, and that choice is typically between LLCs vs. Corporations. Really the decision comes down to what fits the needs of the business owner and the business, but there is still discussion on which entity is best. Here at MyCorp, we gathered together a panel of professionals to get their expert advice on LLCs vs. Corporations and which is the best to form for your business. Which side are you on?
1. “Generally speaking, corporate status is preferable. Banks typically don’t view LLCs as favorably during the loan application process and corporations don’t pay taxes on fringe benefits. These include group-term life insurance, medical reimbursement plans, medical insurance premiums, and more.”
- John Boyd, Principal, The Boyd Company, Inc.
Enterprise communications are a critical and tricky area to perfect. Many professionals struggle to communicate and collaborate with their coworkers on a daily basis, while others seem to know the right thing to say every time. This struggle even extends to CEOs, small business owners and other professionals who are constantly in the spotlight. Even several presidents have had to have public speaking coaches in order to help them deliver national addresses!
For many the way they communicate naturally doesn’t seem to be professional, so they adopt a false persona that doesn’t ring true. Others are simply unfamiliar with what accounts for “professional” communication, and are unsure of what is acceptable and what isn’t. The trick is to act natural – which sometimes means using words, or text, that may not seem business-like – such as emoticons.
For any small business owner, a slowly recuperating economy can be an overwhelming scenario. With small business budgets often stretched to the limit, it is difficult for the owners to choose the best means of investing money while still allowing growth of their businesses. According to studies, the number of people using the internet on mobile-only devices is on a steady rise. In fact, we may all soon be seeing a smartphone-only generation, wherein cell phones are the primary source for accessing the internet. This is why small businesses need to start making significant strides when it comes to the mobile app market.
Our next state is famous for producing 33% of the potatoes grown in the U.S., and 85% of commercial trout. This state is also home to the famous Salmon River- the longest free-flowing river to flow within a single state. Who is our mystery state bachelor? None other than Idaho!
Idaho is located in the northwestern region of the United States. It comes in as the 14th largest, 39th most populous, and the 7th least densely populated of the states. Its capital is Boise.
As far as starting a business in the potato state goes, Forbes ranks it at number 19 for the best states for business due to its average rankings of business costs, labor supply, regulatory environment, economic climate, growth prospects, and quality of life.
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You hired a freelancer for some temporary work at your business, but now you’re worried about what the Tax Man requires. After all, you were already so busy you had to get somebody else to come in to write that blog post/add on to your home office /upgrade your computer/etc. How in the world are you going to find the time to do extra taxes?
Luckily for you, they’re actually not that complicated. While they seem like they should be tougher, freelance taxes are simple for the small business owner to deal with. But first, there’s something we should clear up.