BizCentral USA

In June of 1993 when only a select number of people knew about the World Wide Web, the internet had 130 web pages. After much technical advancement in June of 2003, ten years later, the Internet had 35,424,956 web pages. Image how many more in 2008, websites push the envelope on what is possible on the World Wide Web.

About ten years ago you probably remember dial-up internet where you could hear the phones dial to achieve access online. Even the phonebook, which was one of the only ways to find company contact information, are online now too with sites such as whitepages.com or yellowpages.com. Today the Internet is an endless visual medium for promotion.

A website is such a mandatory element in any type of business, company or non-profit service. With the right mix of text and graphics your website should keep people on your site. Now most websites have a database link. This link is a smart tool to submit your contact information to connect and maintain a relationship with the company . Websites also contain your company information: mailing address, email address and phone number, it is easy access for the viewers of your site and it helps you connect with new customers.

Graphic design work is another great compliment to your site. Whether it is photographs, a logo, promotions, or more, this type of content make the difference between success and struggle. Ideally you would like to have an original site with high-quality content for aesthetic value. Your website could also have the background information for your company. To tell how your company started it builds a sense of trust between your business and the clients.

Another great feature of your website is the ability to draw attention to what has changed with your company. Whether you have changed your location, added new promotional items, feature a video on the site or are selling new items your customers need to know. The SEO, Search Engine Optimizer, has become an efficient way to see where your company ranks when a search is done through the major search engines such as yahoo, google or msn.com.

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Hopefully a lot! Without great graphic designs we would have never had the: Nike swoosh, Disney with Mickey’s black ears popping up, or McDonald’s golden arches. The idea is that the logo is memorable which helped these companies become as successful as they are today.

Graphic design is extremely vital for all companies, whether you are just starting or if you have been established for years. The logo helps you achieve new clients fast and keep them loyal. In the future they can help push your company ahead to leave the competition behind. It shows off your business to the consumers in the best way possible.

Company logo’s uses color, graphics and creative fonts to establish the corporate identity and branding. This logo is used on your website, letterhead, brochures, flyers, postcards, return address labels or other publications. If your company has a tagline this can be incorporated with the logo.

From the previous example with Nike, the tagline was ‘Just do it.’ It is short, to the point, and very convincing, get it done, no excuses. Another great idea for advertising is creating an acronym, each letter represents a different word. Think of adidas, All Day I Dream About Sports. What a great tagline to represent the company of workout clothing and sport gear.

This design expresses the interest for your company and your clients. To you don’t need artistic talent, just the ability to realize what you are trying to express. Your image should be memorable so the consumers won’t forget who you are.

If your priority is business durability so you can outlast the competition please speak to an experienced graphic designer for your business.

For any small business starting out can be tough! If you have ideas or a vision of what type of business venture you want to start, that is great, but what about the marketing, or public relations, or advertising.

With the current condition of the economy, some small business owners may have the marketing ideas in jeopardy. Don’t let this happen to you. If you are just starting to establish your business, marketing is a crucial factor. With an informative website, creative brochures, accurate news releases, a sharp logo and catchy tagline you are on your way to establishing the brand for your business.

• Your website should help buyers or potential buyers, use information you want to make sure the customer reads. Make it understandable; don’t use jargon they may not be familiar with. Every industry has abbreviations or key words they use on a regular basis. If the business is just starting your readers may not be familiar with it yet so try to avoid that.
• Brochures are a good idea, like a magazine they can be re-read over an over by many different people. This is not just a one-time ad, it is a great investment for any business. It should have good quality writing on every page, but not too much information, remember it is just a teaser to introduce people to your business
• News release or a press release is another way to get your message out. Originally a news release was meant for media only, but if the media did not use the release, it serves no purpose. The release is an important tool for the consumer because you are providing them with information they need.

All these tools are essential for creating your business plan . If you are trying to get a loan for your business these items are especially important. If the bank can see you are organized with your preliminary paperwork done, it helps your move faster to get things going. Your marketing efforts drive business, gets you more leads and in turn helps your business succeed.

It has come to my attention, once again, that numerous small businesses are receiving correspondence from Corporate Compliance in their state. Operating under the guise of a government agency, a private business is distributing very official looking documents to the registered agents of small corporations claiming a need to file annual meeting minutes in order to remain in compliance with corporation statutes.

Attention folks: Such filing of annual meeting minutes is not an official requirement, and Corporate Compliance is not a governmental agency! They are simply hoping that they can trick as many small business owners as possible into believing that they need to do this filing, which of course requires the remittance of a hefty filing fee that is to be made payable to their company. Please be diligent in reading the small print in any mailing that you are not positive is from an official government agency. On the aforementioned mailings there should be a tiny disclaimer somewhere that mentions that they do not represent any government agency.

Now I’ve heard of this scam before but it had slipped my mind until a client recently phoned to inquire about its legitimacy. After doing some quick research on the web I’ve found from many other sources that these notices come under the ruse of a variety of agencies, including:

• (Enter Your state Here Corporation Compliance
• Corporation Compliance Recorder
• Minutes and Compliance Affairs
• Compliance Annual Minutes Board

So please, I implore you, if you receive any such mailings requesting annual filings be sure to check for an official state seal, that the notice clearly states it is from the Secretary of State or Division of Corporations in your state. While there are annual filings required of corporations, these filings do not typically require submission of minutes and carry a minimal filing fee. If you have any question as to what annual filings are required for your corporation to remain in compliance don’t hesitate to check with an expert .

One crucial componenet of a small business owner’s plan for success is the development of a website Most entrepreneurs realize when they start a businessthat with more than 20 million shoppers now online, purchasing everything from books to computers to cars to real estate to jet airplanes, if you have a business, they should design a website. Quite simply, if you””””re marketing a product or service and you are not advertising where your competition is, you””””ll find yourself left behind very suddenly. Even if you think your company’s product or service cannot be sold online, keep in mind that many consumers now search for information online prior to making a purchase at a brick-and-mortar store, and your site may be the first chance you have at making a good impression on a potential buyer.

For most small businesses, a Web site is rapidly becoming a basic requirement of a marketing plan. A site can help you reach one or more of the following goals:

• Help customers find you in the offline world – your office, your storefront, your phone number.

• Help persuade customers that you have the right service or product for them

• Help sell products online, even across different marketplaces, to retail customers or other businesses.

Compared to the more traditional advertising mediums, web promotion and marketing has potential circulation figures/coverage area that can””””t be matched - and all at a fraction of the cost of a simple series of print advertisements. However, to realize this potential the pages of your website need to appear swiftly and say what you want them to; the site has to be continually promoted and assessed, and kept looking fresh and up-to-date to encourage visitors to return to it on a regular basis. Most importantly, your site should be optimized well with the search engines.

Search Engine Optimization is the process of editing and organizing the content on a website to increase its potential relevance to specific keywords and ensuring that external links to the site are correctly titled and in abundance. This is done with the aim of achieving a higher search listing and thus increasing the volume of targeted traffic from search engines. SEO is one of the key to your Web Marketing activities.

SEO considers how search engines work and what people search for. Sometimes a site”””’’s structure (the relationships between its content) must be altered too. Because of this it is, from a client”””’’s perspective, always better to incorporate Search Engine Optimization when a website is being developed than to try and retroactively apply it.

Many contractors are unaware of the numerous small business certification and assistance programs that exist today to aid underprivileged businesses. In fact, many of these programs are aimed specifically at overcoming the effects of discrimination, which may be a significant obstacle for such individuals to conquer. Here at BizCentral, we seek to create increased awareness of these opportunities, as well as to assist socially and economically disadvantaged firms in obtaining the credentials necessary to compete with larger entities.

Numerous government entities, including the Small Business Administration and Women”’’s Business Enterprise National Council offer innovative opportunities to assure that small contractors are not left behind in the race for federal contracts. Programs such as the SBA’s 8a teach small companies how to compete in the federal contracting arena and how to take advantage of greater subcontracting opportunities available from large firms as the result of public-private partnerships. For more detailed information on the most common certification programs, check out:

•SBA- 8a or SDB
•Women’s Business Enterprise National Council
• Minority Supplier Development Council
• HUB Zone
• Veteran Owned Business
• Department of Transportation

Nonetheless, the process for applying for inclusion in these programs can be grueling. You must meticulously review application requirements and organizational documentation to assure that each your business has the greatest chance at successfully obtaining certifications and subsequently competing for beneficial contracts, thus bolstering profits. These programs are, in effect, the gateway to opportunity for small contractors and subcontractors.

Most small business owners view promotion and advertising as a luxury that they cannot afford. Unfortunately, this usually results in ineffective promotion and poor results. You should assess your potential customers and competition and the business’s products and services to determine a promotion strategy. Undertaking market research and developing a marketing strategy is essential to success. Such research should answer questions such as:
 Who is your typical buyer?
 How do your potential customers’ habits and behavior play into their purchasing decisions?
 How do you know they want what you offer?
 How much are they willing to pay?
 Where (and how) will your customers want to buy your product or service?
 How many people are in the overall market you’re going after?
 What media has the greatest impact with your target market?

Once you have completed quality market research, you’ll have a better idea of the specific marketing methods that will be best for your business. There are various types of marketing for you to consider:

 Grassroots Marketing- Consists of using resources you already have to spread the word about your product or service.

 Public Relations- Common activities include speaking at conferences, winning industry awards, working with the press and employee communications.

 Affiliate Marketing- Involves hooking up with other businesses or organizations that share a similar target audience to yours.

 Online Marketing- Creating a website can be made fairly simple by working with a company that specializes in helping small businesses create their web presence.

 Traditional Marketing- Includes billboards, magazine and newspaper ads, broadcast spots such as those on TV and radio, and even direct mail pieces

If this seems like a lot to undertake, that’s okay. Experienced marketing professionals can assist you every step of the way, making your journey to success a smooth one.

Once you’ve developed your idea, selected the best legal form of your company, and obtained adequare financing, there are still additional factors to consider.

One important decision will be to choose an appropriate location for your business. The choice of location is important to the success of your business and you should begin such consideration early in the planning process. You must consider location in regard to customers, suppliers, employees, and government regulations. You should outline the business’s needs and select a site that best meets these requirements.

Another consideration that must be made is compliance with any and all registration or licensing regulations. Various types of licenses are required in order to conduct business:

 Local- Business licenses are issued by cities to businesses located within the city limits and for businesses conducting business within the city limits.
 State- Your business may need to be registered with the state tax authority.
 Federal- Your business must have a federal identification number (federal tax number).

Additionally, there may be other licenses that affect your particular business:

 Occupational Safety & Health Administration
 Health Department
 Alcoholic Beverage Control in your state
 Department of Consumer Services in your state

You should check with your industry association to determine if other licenses apply to your business.

Once you have developed the idea for starting your small business, and have determined your preferred legal structure the next, and possibly most cumbersome, step is to obtain financing for your business. This is a critical step. You’ve got to find funding for your business but ensure that it’s the right kind of funding. You must be selective and smart when seeking money for your startup. To identify which form of financing is just right for you, think about your long-term personal and business goals.

There are seven common ways to fund your business. These include:

 Bootstrapping- Funding the business yourself, using your savings, your initial revenues, credit cards, equity pulled from your home, etc.

 Debt financing- Requires that you qualify for a traditional bank loan or that you find a bank that can provide you a loan with a SBA guaranty.

 Grants- Special programs designed to fuel the innovative fires of small businesses, and typically target specific groups or types of businesses, such as technology businesses, veteran-owned businesses, women-owned businesses and minority-owned businesses. These are rare for for-profit ventures.

 Friends and Family- Just like it sounds, raise money from people you know well, either in exchange for equity or as a loan to be repaid.

 Angel investors-Individuals who invest in companies at an early stage in exchange for equity and the chance to help guide the company.

 Factoring- A financial institution (factor) advances the entrepreneur money against proceeds from the entrepreneur’’s outstanding accounts receivables.

 Venture capitalists- Individuals or companies with large amounts of capital to invest and expect higher returns. They invest as a profession and generally on behalf of other investors.

Stay tuned for more…

As mentioned in Part 1, a crucial step in starting your small business is the selection of a legal structure for your company. There are many things to consider in making this choice, but for starters it’s important to take the time to review your business plan. What should emerge are answers to questions like:
• Do you want investors as shareholders in your company?
• Do you want to maintain control of the company if you have investors involved?
• Do you want to avoid double taxation?
• Is there a great risk of liability associated with your specific business?
Sole Proprietorship

A sole proprietorship is limited to a single owner who has total control of and responsibility for the business. The profit or loss of the business is taxed as personal income and is included on the owner’s individual tax return. The sole proprietor has full legal liability for debts and claims against the business.

Advantages:
1. Easy to organize and flexible
2. Owner has control and responsibility
3. Minimum legal restrictions
4. Income taxed as personal income
5. Minimal organizing costs

Disadvantages:
1. Owner is personally liable for debts or claims
2. Business terminates with the owner
3. Limited ability to raise capital

Partnership

A partnership is an association of two or more persons acting as co-owners of the business. A Partnership Agreement should be prepared to establish the rights and duties of the individual partners. As with sole proprietorships, your company name is not protected. This means any new or existing business could incorporate using your company name.

Advantages:
1. Simple to organize
2. Combined funding and talents of partners
3. Flexibility in profit or loss sharing
4. Income taxed as personal income

Disadvantages:
1. Unlimited legal liability for all partnership debts and claims
2. Partnership terminates upon death, withdrawal, or addition of partner
3. Individual partners act as agents for the partnership

Corporation

A corporation is a separate legal entity that is formed by filing Articles of Incorporation with the Secretary of State. The owners of a corporation are known as stockholders. Incorporating shields you and the members of your company from personal liability and reserves rights to your company name. A subchapter S corporation is a special form of a regular corporation. It is incorporated as a regular corporation, but asks for special permission from the IRS to be taxed as a partnership.

Advantages:
1. Limited liability for managers and stockholders
2. Ownership is transferable
3. Corporation does not terminate when ownership changes
4. “S” corporation income or loss is passed through to stockholders and taxed at the individual level

Disadvantages:
1. Costly and complicated to establish
2. Double taxation for regular corporations
3. Extensive record keeping necessary
4. One class of stock for “S” corporations

Limited Liability Company

The Limited Liability Company (LLC) is a hybrid form of organization that combines the attractive features of both a general partnership and a corporation. An LLC is established by filing the Articles of Organization and an Operating Agreement with the Secretary of State’s Office.

Advantages:
1. LLC owners are not personally liable for business debts, such as court judgments, or legal settlements obtained against the business.
2. Flexible Management
3. One-level taxation: The LLC, like a partnership, is normally recognized by the IRS as a “pass through” tax entity
4. Flexible distribution of profits and losses: The LLC is treated like a partnership for tax purposes, and this applies to the division of profit and losses of the LLC.

Disadvantages:
1. Mergers: If a corporation is later merged with another stock being traded for stock, the transaction may be tax-free. LLCs don’t qualify for this favorable tax
2. Taxes: A few states impose very high taxes on LLCs.

Stay tuned for Part 3…