The simplest and most popular form of business ownership is the sole proprietorship. A sole proprietorship is a business owned and managed by one person. According to the Internal Revenue Service (IRS), sole proprietorships make up about 73% of all businesses in the United States (Internal Revenue Service 2010). Advantages 1. Simple to Create & […]
Many of us have side hobbies and fun projects that we enjoy but wonder if they could become more. Can we really make the leap from a part-time hobby to a full-time venture? How would we even identify whether our passion could turn into a profitable business? Understanding and answering these questions can help you […]
There’s a lot to think about when you’re starting your business. A few of your initial “to-dos” include creating your business concept, figuring out your financials, gathering industry data, and so much more! Identifying legal considerations on the Federal, state and local levels is a good starting point. You don’t know what you don’t know […]