Understanding Family Business. What do you understand about family business? What does it mean to start and run a family business? I consider this topic to be very important to anyone starting his or her own business. This is because a lot of people start a business which can be described as a family business unknowingly. Before I continue with this article, I will like to make certain clarification about what a family business is all about. If your business is jointly owned by your family members, you are running a family business. That does not mean that there are Continue ReadingHow to Start a Family Business
Funding plays a key role in starting a business. Funding is one of the hurdles entrepreneurs have to overcome. No matter the size of your company, you require adequate funding to start and grow your business. Though the ease at which each is able to achieve this may differ from one another. Definitely, funding could be easier for companies that are well established than small businesses which are still trying to get their footing right. For example, when an individual approaches banks to borrow money, he will be required to bring collateral, which would serve as security in case of any Continue ReadingFunding Options for Small Businesses
Low Investment Opportunities And Small Business Ideas With High Profit If you are looking for low investment opportunities with high profit margin, I will suggest that you focus your attention on consulting services. In consulting business, the capital investment is very low as what you need most is your expertise and skills. Good enough, everybody has his own unique skills. What is lacking is ability to turn the skills into small business opportunities. Below is the list of busisnesses with high profit margin. Bookkeeping and Accounting If you are good at accounting whether manual or computerised accounting system, it is a Continue ReadingLow Investment Small Business Ideas With High Profit
Who Are The Salary Visionaries? I receive this WhatsApp message this morning. I felt I need to share it with my audience. The author duly acknowledged. “The poorest group of people in the world are salary earners. They live in a vicious circle of poverty. Referring to them as servants of civil which made them uncivilised. They categorised them as common men, tax payers and middle class citizens. If you ask who are the highest class citizens, you will hear people who create wealth with their ideas. People who are entrepreneurs in making and people with wisdom to create and Continue ReadingAre You a Salary Visionary?
A Comprehensive Guide on How to Choose a Legal Structure of A Business. Choice of the legal structure of a business is one of the vital decisions you need to make at the start up stage. There are different legal structures but you cannot just choose anyone arbitrarily. Your choice of a particular legal structure should be as a result of a quality and informed decision drawn from the knowledge of what you actually want for yourself and for your business. The legal structure of your business has a lot to do with you as a person and your business. You Continue ReadingChoosing A Legal Structure of A Business