Posted by Biz Central USA Marketing Team on July 26, 2010 under Small Biz and Entrepreneurship,Small Biz News,Small Biz Webinars | 
Several times a day I am approached by people who are interested in starting a business, but they don’t want to hassle with the headaches and cost of customer service, production, quality control and shipping. The best advice I can give them is to look into the BizCentral Independent Consultant Opportunity. What is this program? Well, first of all, let me ask you a few questions.
Are you currently working in the B2B arena? Do you have lots of small business, nonprofit or church contacts? Are you looking to start or expand your business with additional products and services for startups, small businesses or nonprofits? If you answered “yes” to any of the above, we have the perfect solution for you!
Why not join the BizCentral Independent Consultant group. The benefits of our program allows us to operate as your “back office,” allowing you to focus on “making money”, building relationships and enjoy residual income without having to do constant cold calls.
So what are a few highlights of the program? Let me give a quick recap:
•Uncapped Income
•Ability to Integrate our Service into a Current Model
•Ongoing Sales and Marketing Support
•New Consultant Web Portal
I don’t know about you, but that sounds like a pretty good opportunity to me! If you are interested in learning more, then be sure to join us for an online interactive info session on July 30th, 2010 from 1 pm – 2 pm EST!
Posted by Biz Central USA Marketing Team on May 18, 2010 under Small Biz and Entrepreneurship,Small Biz News,Small Biz Planning |
Incorporation, also known as a limited liability company (LLC), is a flexible form of business enterprise that incorporates elements of both partnerships and corporate structures. It is a legal form (for a small business or company), that provides limited liability to its owners. In more basic terms, it is a hybrid business that has certain characteristics of both corporation services and a partnership or sole proprietorship. This of course is dependent on the number of owners there will be within the company. An LLC is a type of unincorporated association and is not a corporation. The greatest similarity an LLC shares with a corporation is limited liability. The greatest similarity it shares with a partnership is the availability of pass-through income taxation. More times than not, it is more flexible than corporation services and is well-suited for companies with a single owner.
An LLC can choose to be taxed as a sole proprietor, partnership, C corporation or S corporation (as long as the small business qualifies for such tax treatment), resulting in a great deal of flexibility. Another advantage to organizing an LLC is that it involves much less administrative paperwork and record keeping than a corporation does. The structure of a limited liability company, or LLC, makes it relatively easy to give new partners stakes. While giving new partners stake is relatively easy but sharing equity works a bit differently than it does in corporation services.
In an LLC, there are two types of equity compensation: a capital interest and a profit interest. A capital interest entitles a partner to a share (cut) of the profits as well as an interest in the company assets. On the other hand a profit interest entitles a partner to a share of the profits but not an interest in the company assets. The difference becomes important when the company is sold. When selling an LLC, a capital interest entitles the partner to a share of the proceeds, but a profit interest entitles the owner a cut only of the company’s increase in value. Capital interests become taxable upon receipt, but profit interests typically aren’t.
If your new partner chooses to not invest in the small business startup, then it is recommended that they put in three to five years before claiming full interest. You can vest over time or present the whole package at the end. If your partner leaves early or can’t meet performance goals, they forfeit their unvested share. On the other hand, if they do invest capital, they should receive a fully vested capital interest.
You will need the counsel of an attorney and a financial adviser, and these specific details should be outlined within the operating agreement. You should also draw up a buy-sell agreement that specifies when your partner can sell the stake, to whom, and at what price. This will help to shield the company from being sold to a competitor, stranger, or unwanted partner.
If you are interested in organizing an LLC please follow the link below to find your appropriate state forms that need to be filed.
http://www.e-secretaryofstate.com/
Posted by Biz Central USA Marketing Team on February 17, 2010 under Small Biz and Entrepreneurship,Small Biz Certifications |
When looking at the Woman/Women Owned Business Enterprise (WBE) Certification, the question I get asked most frequently is. “Is there really a difference between which WBE certification I receive?” The very honest answer to this question is yes. It makes a large impact which agency you choose to certify your business through. If your business is 51 percent owned, controlled, operated, and managed by a woman or group of women then you are eligible for certification. There are generally four different levels of WBE certifications:
1. Local – This certification can be obtained by a local government certifying office, such as a city or a county. You would want to obtain a local certification if you want to increase your chances of getting business from that particular local agency (such as the city or county in which your business is located).
2. State – This certification can be obtained in most (not all states have a designated program) states through a state certifying office. You would want to obtain a state certification if you want to increase your chances of getting business from one or more state government agencies.
3. Federal – These are self-certifying, and allow you to sell to the U.S. federal government. So if you want to sell to the federal government, then you can self-certify that you are a WBE enterprise.
4. National – This is the type of certification you would consider if you want to have large corporations (both privately and publically owned) as clients. Some large corporations will accept either a National Certification or a State Certification, so before you rush out and get a National Certification, you would first want to see what the requirements are specific to that corporation.
If you are more interested in doing work in the private sector, particularly with publicly traded and privately owned companies, WBE Certification by a third-party certifier is going to be the recommended option. Third party certification (national agency) is geared to the private sector. Such agencies as the WBENC and the NWBOC are third-party certifiers. This indicates that these agencies are an independent entity other than the small business owner or the corporate purchasing entity and are ensuring that the small business is in fact a woman-owned entity.
If your small business is focused on gaining contracts with a government entity, in most cases each city, county, state and federal agency has their own type of certification program which details an individual and distinct process for that city, county, or state. Now you are probably saying to yourself, “Do I really need to get multiple certifications for different purposes?” Due to recent pressure being brought by women business groups, the government agencies are now beginning to accept other sources of certification in addition to their own program. The key, if you find yourself in this situation, is to certify with your home county or city first. By doing this, most other city and county certification programs will reciprocate your home city certification and you can start doing business with Uncle Sam.
