Category Archives: Small Business

Corporation or a limited liability company?

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Most people starting a business ask “should I be a S corporation or a LLC?” The real question, however, is “should I be a corporation or a LLC?” Corporations and LLCs are legal entities created under state law and offer the protections provided by state law. Whereas, a S corporation is a tax designation filed with the IRS … what make matters more confusing is that a LLC can be classified as a S corporation […]

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How to determine the value of a business

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There are numerous methods for determining the value of a business, however, as a general rule a business is valued at 2 to 4 times the business owners benefit based upon the businesses financial records. The business owners benefit will typically include their salary, dividends, health insurance, company car and any other expenses paid by the business for the benefit of the owner. Although this is the general rule, there are many factors that can […]

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Why Startups Fail

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While the numbers may vary depending on the source, the Small Business Administration (SBA) has determined that over 20% of startup businesses fail in the first year, over 40% fail within 3 years, and less than 50% survive the 5 year mark. On a positive note, of the 48% of startup businesses that make it to the 5 year, over 33% will make it to the 10 year mark. That means your chances of success, […]

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GSA Awards $15 Billion in Contracts to Small Businesses

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By: Jessie But, GSA taps 80 small businesses for IT GWAC, Federaltimes.com The General Services Administration recently released the list of 80 pre-awarded offerors in the $15 billion Alliant 2 Small Business IT and professional services governmentwide acquisition contract. “After review and evaluation in accordance with the criteria established in the solicitation, the following organizations are deemed to be the highest technically rated offerors with a fair and reasonable price,” the pre-award notice said. “This […]

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Are You Running a Startup or a Small Business? Whats the Difference?

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By: Jared Hecht, Forbes, Entrepreneurs, December 8, 2017. If you’ve worked in the tech industry, or are at least familiar with the space, then you’ve probably known entrepreneurs who have launched and grown startups over and over again. But have you ever taken a step back and asked yourself, “What is a startup?” Is it just a buzzword for a fast-growing tech company? Or is there a real, important distinction between what constitutes a startup, […]

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