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HOW TO START A BUSINESS IN NEW YORK
July 18th at 7:36pm
Starting a business in New York requires working with both State and local government. The first step is to decide your new business name and structure. You must register your business name if you plan to conduct business under a name other than your own. Each business structure has advantages, and the type of business you choose influences the licenses and permits you need, your insurance liability, and your tax responsibilities. You can learn about business structures in the Form an Entity section. Many counties, cities, towns, and villages also require local permits and licenses. Check with the local authorities…
HOW TO CREATE A PARTNERSHIP
July 11th at 7:22pm
A partnership is a business organization with two or more persons as owners. Partnerships are governed by state laws, and a new partnership is registered with the state where it will be doing business. Each partner shares in the organization’s profits (and losses) and may share in the business operations decisions. For tax purposes, the partners are taxed, not the business itself. That is, the partners pay their share of the taxes based on their share of the partnership, through their personal tax returns One of the most significant benefits of general partnerships is how easy they are to set…
CHECKLIST FOR A SUCCESSFUL BUSINESS
July 4th at 7:13pm
ENTREPRENEURIAL CHECKLIST FOR SUCCESS There are several frameworks you can use to assess and develop your business strategy. The process of developing the right strategy involves asking the right questions and coming up with honest, complete and effective answers. Here is the checklist : Do you have a viable product with a clear strategic fit in the market?Is there a definable target client?Is there a clear definable need? Is it big enough?Can you profitably deliver the product at a competitive price?Do you have a clear win that can differentiate you from competitionCan you defend your position over time? Do you…
HOW TO START A COFFEE SHOP BUSINESS
June 27th at 7:07pm
Before opening a coffee shop, understand why they’re so popular. First of all, coffee shops are great places to socialize. Statistics show that coffee shops are the most popular place to meet friends. They are also a preferred spot for individuals looking to pass the time reading a book or magazine or surfing the web while enjoying a beverage and snack. The estimated costs for starting a coffee business from scratch run from $200,000 to $375,000, and coffee franchises can cost as much as $673,000 for a sit-down coffee shop. … The reason for this can largely be attributed to the price of a good commercial-grade espresso…
WHEN TO APPLY FOR A PATENT
June 20th at 6:59pm
Under U.S. patent law, you must file your patent application within one year of the first offer to sell your invention, or within one year of your first public use or disclosure of your invention. There are Three Steps to Discover Whether an Idea is Patented Already. Go to the official website of the U.S. Patent and Trademark Office. Use the “Full-Text and Image Database” search to verify any present patent applications and pictures. You can find filed applications and pictures for patents filed after 1975. Once you add legal fees, non-provisional patents usually cost between $8,000 and $15,000 or more. Filing a non-provisional patent with lawyer fees will usually cost the following for each invention type: An extremely simple invention,…
HOW TO FIND THE RIGHT INDUSTRY FOR A NEW BUSINESS
May 30th at 10:54pm
A solid business idea requires creativity, planning and soul-searching. Use these three tips to choose the right business idea. 1. Focus on your skills, experience and passion Go with what you already know or don’t mind learning fast. You don’t need to be an expert right away, but leveraging skills and experience you’ve gained can increase your chances of success. 2. Evaluate business-lifestyle fit If balancing work and family life is important to you, then avoid businesses that could require working 60 hours a week. 3. Test your idea Before jumping in, make sure you’ve done your due diligence . No matter what business…
DOING BUSINESS IN ILLINOIS
April 18th at 4:01pm
There are more than 1.2 million small businesses operating in the state of Illinois. These businesses employ 2.5 million people, which is 45.1% of the state’s workforce and nearly 20% of the entire population. Small businesses account for 99.6% of the state’s private enterprise, making them a vital part of Illinois’s economy. Markets like Chicago offer big advantages to businesses, both in terms of the customer base and a labor pool from which to hire top talent. Illinois is unique not only because it is home to a major metropolitan area, but it is also geographically close and well connected…
BIOHACKING IS A NEW BUSINESS
April 4th at 3:43pm
Biohacking is taking full control of your biology. Biohacking — also known as DIY biology — is an extremely broad and amorphous term that can cover a huge range of activities, from performing science experiments on yeast or other organisms to tracking your own sleep and diet to changing your own biology by pumping a younger person’s blood into your veins in the hope that it’ll fight aging. Biohacking is the desire to understand the body and mind you’ve been given and using everything at your disposal–cutting-edge technology, tools, and science–to become the best version of yourself. Simply put, biohacking is the art and science of changing the environment around you and inside you so you…