Monday, November 19, 2018

Choosing the Right Business Structure: Factors to Consider

Written by Marco Carbajo

 Article from Blogs. Industry Word

Choosing which business structure is right for you is a crucial step when starting a business. The entity you select has legal, financial, and operational implications. Here are three factors to consider when choosing a business structure.

 Business Taxes – Business owners must meet all federal, state, and local tax obligations to stay in good legal standing. The type of business structure you choose impacts your personal liability and which taxes your business must pay.

 For example, choosing a sole proprietorship may be the easiest structure to form for a small business startup, but it comes at a price. A sole proprietorship has less government regulations and tax obligations than all the other business structures. It’s taxed at the personal level because you and your business are considered the same legal entity. This means you are personally responsible for all the business’ losses and liabilities.

 With an entity structure such as a limited liability company (LLC), business and personal liabilities are separate, like a corporation. Depending on whether you have a single-member, or multi-member LLC, you are required to file different LLC tax forms.


 Industry – Your business structure will depend on the type of industry you operate in, because of common practices and state requirements. For example, real estate investment companies carry a higher risk. That’s why the limited liability company is widely used due to the owner’s liability protection it provides.

 Typically, companies offering professional services form partnerships because they provide flexibility and are easy to form and maintain. The liability may be limited or unlimited, depending on the type of partnership.

 Personal Liability – In order to choose the right business structure, you must understand what liability protection each entity structure offers. In a corporation, LLC, limited partnership, and limited liability partnership there are different levels of personal liability protection.

 With a corporation or LLC, only the entity can be sued — not the owners or officers of the business.

 A limited partnership is created by one or more general partners and one or more limited partners. Limited partners have personal liability for the company’s debts, but only up to the amount they have invested in the business.

 In a limited partnership, general partners have unlimited personal liability for the company’s debts. This can be limited by having a corporation or LLC as the general partner. A limited partnership is created by one or more general partners and one or more limited partners. Limited partners have personal liability for the company’s debts, but only up to the amount they have invested in the business.

 In a limited partnership, general partners have unlimited personal liability for the company’s debts. This can be limited by having a corporation or LLC as the general partner.

 In a limited liability partnership, all the partners are not personal liable for the other partners. But they all have unlimited personal liability for the business’s debt.

 Once you choose your business structure, you’ll also need to get a tax identification number and file for the necessary licenses and permits. With an employer identification number, your business will also be in a position to build a business credit identity with the major business credit reporting agencies.

 Contact SCORE mentors, Small Business Development Centers, Women’s Business Centers, and Veterans Business Outreach Centers for free business counseling and advice.

Friday, November 16, 2018

Shoppers May Shun Retailers with Poor Product Suggestions



Excerpt from an article by Krista Garcia
To read more, visit eMarketer

"Email marketing is one of the most evergreen retail tactics. It's also one of the most targeted forms of messaging since recipients opt-in and often provide solicited information or preferences. Despite these factors, personalization can still be hit or miss.

An April 2018 Evergage and Researchscape International study found email content was by far the channel that more US marketers personalized, cited by 71% of respondents. Personalizing home pages (45%) and landing pages (37%) were a distant second and third.

When asked how email was personalized, 76% of respondents said they use a first name in the message or subject line. Just over half recommend products based on audience segment, while one-quarter suggest products on an individual basis."

Wednesday, November 14, 2018

US Department Of Labor Announces Compliance Assistance Tools to Assist Small Businesses


Featured in America's SBDC newsletter

The U.S. Department of Labor announced the launch of the New and Small Business Assistance webpage and the Compliance Assistance Toolkits webpage. These new online tools assist American small businesses and workers with simple, straightforward resources that provide critical Wage and Hour Division (WHD) information, as well as links to other resources.

The webpages were established in response to feedback received from new and small business stakeholders voicing their need for a centralized location to secure the tools and information they need to comply with federal labor laws. These new webpages provide the most relevant publications and answer the questions most frequently asked by new and small business owners. These tools, in conjunction with worker.gov and employer.gov, ensure greater understanding of federal requirements and provide tools to help employers find resources offered by other regulatory agencies. Learn more.

Monday, November 12, 2018

The Importance of Community Plumbing

Written by Shannon Mattern

 Article from Places Journal

 This is a vision of the hardware store as episteme. It holds (and organizes) the tools, values, and knowledges that bind a community and define a worldview. There’s a material and social sensibility embodied in the store, its stuff, and its service, and reflected in the diverse clientele.

 That might sound a bit lofty for a commercial establishment that sells sharp objects and toxic chemicals. But the ethos is palpable. (And profitable, too. The store is always busy, and Joe has been lauded by the North American Retail Hardware Association.)

 Headlines proclaiming the death of neighborhood retail remind me of all those articles a few years back that wrongly predicted the end of the library. Despite competition from big-box stores and the internet, many local hardware stores are doing all right. In 1972, the United States had about 26,000 hardware stores.

 Their number dropped to 19,000 by 1990 and 14,000 by 1996, but for the past two decades it has been fairly steady. Hardware Retailing reports a slight annual drop in the number of independent stores, but sales are strong (even increasing) at the ones that remain.

Friday, November 09, 2018

The Minty-Fresh Way to Fail At Business

Written by Jay Hoffmann

 Article from Now I know


More than 200 years ago, a New York City man named William Colgate made a living making and selling soap and candles. Today, his name makes up half of that of a multi-billion dollar consumer goods corporation known as Colgate-Palmolive.

 They, basically, make three types of stuff: soaps (one being Palmolive itself) toothpaste and other oral care products (under the Colgate brand) and, perhaps surprisingly, pet food. In 1976, Colgate-Palmolive, via a series of mergers whose history isn’t worth going into, added the Hill’s Science Diet product line (and related ones) to their offerings.

 They decided not to re-brand the pet food under the Colgate brand because that would be, well, stupid. Who wants to feed their dog toothpaste-flavored kibble? Could you imagine pet food being included among these products?

 That’s the results of a Google Image search of “Colgate” — that’s why some logos are mixed it — but you get the point. When people think of Colgate (the university notwithstanding), they think of toothpaste, toothbrushes, and mouthwash.

They don’t think of dog food or, say, this: That’s some sort of vegetable stir-fry. It’s a frozen, microwave dinner. With a Colgate logo. And yes, it’s real — or, was.

Wednesday, November 07, 2018

Should Online Retailers Blacklist Serial Returners?

Written by Jen King

 Article from eMarketer
Following Amazon’s recent decision to ban consumers suspected of abusing its return policy, other retailers may follow in the ecommerce giant’s footsteps to protect their bottom lines.

 With the operational cost of returns skyrocketing, retailers can’t afford to have consumers making too many returns.

 Plus, the popularity of the try-before-you-buy model can be overwhelming for retailers not equipped for high return volume.

 A September 2018 study from Brightpearl conducted by OnePoll found that 61% of US retailers would consider permanently blocking “serial returners” who abuse free return policies.

Monday, November 05, 2018

The hostile work environment checklist: How toxic is yours?

Written by Daniel Bortz

 Article from Monster

Workplace stress is hardly a phenomenon. Everyone has a bad day (or even month) at work now and then. Your client presentation didn’t go as well as planned; your boss didn’t fall head over heels for your proposal; you had to stay late to finish a project; your co-worker’s been having a series of too-loud sales calls.

But there’s a big difference between aggravating incidents and a full-blown toxic work environment.

A toxic work environment is one wherein dysfunction and drama reign, whether it’s the result of a narcissistic boss, vindictive co-workers, absence of order, et cetera.

 In addition to harming your morale, this kind of climate can also be damaging to your health, says Paul White, co-author of Rising Above a Toxic Workplace. “Stress takes a toll on your body,” White says.

Health problems stemming from workplace stress include hypertension, cardiovascular disease, and decreased mental health, and can lead to fatal conditions, recent research from Stanford and Harvard Universities found.

Friday, November 02, 2018

The Best Bosses Are Humble Bosses

Written by Sue Shellenbarger

 Article from The Wall Street Journal


After decades of screening potential leaders for charm and charisma, some employers are realizing they’ve been missing one of the most important traits of all: humility.

 In an era when hubris is rewarded on social media and in business and politics, researchers and employment experts say turning the limelight on humble people might yield better results.

 Humility is a core quality of leaders who inspire close teamwork, rapid learning and high performance in their teams, according to several studies in the past three years.

 Humble people tend to be aware of their own weaknesses, eager to improve themselves, appreciative of others’ strengths and focused on goals beyond their own self-interest.