Factors Affecting Choice of Legal Structure of Your Business

Your business should be set up based on the legal structure that is most appropriate. There are some factors which you may consider before you settle for any particular business legal structure. The reason for putting the factors into consideration is that, once you choose your legal structure, it will cost you time and money to change it. So, you should not take this lightly. The factors to be considered include the following: Capital What is the capital requirement for your business? Can you start your business with just a little capital or it is going to be capital intensive? Continue ReadingFactors Affecting Choice of Legal Structure of Your Business

How to Increase Sales Without Extra Marketing Costs

You don’t need to break the bank in order to increase sales. Before I continue, I like to quickly mention that it is not enough to increase sales, each sales increase should also increase your profits. That is why small business should be very creative when it comes to marketing. As important as marketing is to every business, small businesses don’t have much funds to invest in it. This makes it difficult or impossible for them to compete with large companies. Large corporations can afford to spend thousands of dollars for the promotion of their products. But a small business that Continue ReadingHow to Increase Sales Without Extra Marketing Costs

How to Evaluate Business Opportunities

Characteristics of Good Business Opportunities. There are many small business opportunities available to entrepreneurs. These range from home business opportunities to franchise opportunities or going for business for sale. But with all these business opportunities, good entrepreneurs know how to sieve them to determine the best business opportunities among others. If you are a budding entrepreneur looking for business ideas for beginners, it is very important that you don’t just rush into any business opportunity no matter how appealing it may sound. It is good that you how to evaluate business opportunities in order not to get your fingers burnt. Continue ReadingHow to Evaluate Business Opportunities

How to Start a Family Business

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 Options for Small Businesses

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