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1. Credit Cards. According to a 2012 National Federation of Independent Business (NFIB) study 79% of small business owners used credit cards to start or grow their business. That says a lot about the significance of using credit cards to capitalize a small business. According to another study conducted by Keybridge Research, the use of business credit cards to start or grow a small business has tremendous positive effects on the business and the economy as a whole. The study found that the expansion of credit card lending between 2003 and 2008 contributed to the creation of 1.6 million jobs and for every $1,000 of business credit card use, a

1. Tell your story quick. When pitching investors you have a captive audience. But they won’t stay captive for long unless you can hook them. And to-date I’ve seen two things that keep investors’ early attention on you versus their Blackberrys: An entertaining story on the problem you’re solving. An entertaining story on the founders and how the company came together. Both of these points are about putting some context and relevancy on the upcoming pitch and discussion. If you make the problem feel real and explain it in an entertaining way it’s going to resonate much more strongly with investors. The same holds true with the history of the

1. Our strategy is sustainably differentiated. Demonstrate what’s special about your company and how you’ll keep that strong position. Is your offering fresh and different with a unique solution for the customer? Are your costs structurally lower or your service super fast because you invented incredible algorithms? Show that you have something different from the pack, and that is what your target market wants. Some businesses grow and thrive with execution being their main differentiator: think high-volume selling or complex logistics businesses. If execution is your pitch for why you’re different, be sure your track record backs that up. 2. We are the right team for this endeavor. For early

It is often said that a recession is the best time to start a business. Well-known companies such as General Electric, Hewlett Packard, CNN, FedEx, Burger King and Hyatt Hotels all began in times of recession and all of have gone on to become multi-billion dollar corporations. There are some obvious advantages to starting a business during a recession. For example, office rents are cheaper, it is easier to recruit qualified people at more competitive salaries and other items such as equipment and advertising can be easily obtained at comparatively low prices. There may also be good PR in showing that you are going against the trend. Despite the current

Getting your business structure right from the start is important, In this post we look at the basic structures of a limited liability company.. What is a company? A limited liability company is a legal entity registered with the Government. It is widely accepted as the preferred structure for conducting business under. A company carries many advantages with it as well as some legal obligations that company Directors must adhere to. Limited companies exist in their own right, distinct from the shareholders who own them. This means their finances are clearly separated from the personal finances of their owners. Shareholders may be individuals or other companies. They are not responsible

In the majority of cases, start-up success or failure is all about knowing the both the how and the why of taking action, and always being clear about which steps to take next. To help this process, here are 10 essential things you need to know about running a successful business. Use it as a checklist to make sure your thinking and your business plan are on the right track, or if you need to get more information, strategic education or clarity for yourself on your overall vision, your market, or your product or service. 1. Offer what people want to buy, not just what you want to sell. Too

Start-up businesses can fail for a large number of reasons. It goes without saying that the fewer mistakes made the less likely failure will occur. People provide many tips on how to start businesses successfully but perhaps it would be easier to actually look at what not to do. By overcoming the below common mistakes you will give yourself every possibility to launch a successful business. 1) Capital: Lack of funds can be a major obstacle in starting your own business. It is hugely important to launch your business with the right amount of money. Starting with too little cash is not advised and can be a big mistake. If

We can wait for that moment of epiphany when the most amazing business idea will suddenly enter our heads, out of the blue. But let’s face it – business ideas don’t grow on trees and sometimes you simply have to go looking for them. So where do you start? Before you start generating ideas, a certain amount of preparatory work is advised: Define the Problem: You may have already established a problem that needs solving but if not, you only have to open your eyes and easy to spot them. Listen to your friends, your colleagues and your customers in your last workplace, read the paper, watch the news –

We all know the general consensus that people dread visiting their accountant like they dread visiting the dentist.. but it doesn’t have to be all pain and no gain…Here are some tips to take the sting out of a necessary business function, and using your accountant as a service provider to its maximum potential. Gone are the days when you only heard from your accountant when they were chasing cheques or an audit was due. In today’s difficult climate your accountant can play a pivotal role in your company’s success. So for those of you starting up a business, here is a checklist of what you should expect, and if

The question of whether a person should be classified as an employee or self employed is an important one, David from www.irishaccounts.ie explains the difference.. In a lot of cases, the business owner will want the employee to be treated as a self employed individual because: 1) There will be no liability to Employers PRSI. In some cases employer’s PRSI can be as much as 10.75% of the gross salary of the employee. 2) There is no exposure to unfair dismissal which means that the individual can be hired and fired without any issues arising. There is no obligation to pay a wage every month as it will be linked

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