The threat of new entrants is a constant and consistent one. You have the advantage in that your business is established, but that's no guarantee that a serious threat will not rise up to compete with you. In fact, it's pretty much assured that eventually...
The first place you should look is a good local library, usually a major city or a university one. They'll have a wealth of information about local business, free for you to find. Next, find a good business consultant. We would like to humbly suggest speaking...
This is an excellent question because it applies to so many business owners that simply don’t know what business they’re in. I don’t mean to sound insulting, but take a moment to actually look at your business and ask yourself what you do. Are you...
These are not mutually exclusive propositions. To begin with, you should always be learning. Business continues to evolve and you need to know what direction it’s going in and what direction you want to go in to parallel with it while adding your own twist...
That's an excellent question. While I can't speak for all such offers, especially independent ones, there are actually a lot of grants that the US government offers for minority-owned businesses. For a strong list of these, try looking at the first section here: http://bcondemand.com/government_resources.php...
In most cases, it doesn't really matter. Most small businesses use the calendar year for simplicity. However, it can be useful to use a fiscal year if your business has a busy season at a particular time. For example, this adviser was previously in the...
WE RECOMMEND THAT YOU CHECK WITH YOUR OWN INDIVIDUAL TAX ADVISOR PLEASE That largely depends on what business you're in, but the trick with tax and record keeping programs is to take the time to figure out your needs. Do you collect sales tax at the...
Our answer might seem a little incomplete, but we do not know what type of product you are trying to present to children or their age group. Children are among the most highly sought-after marketing demographics in the country. Part of this answer depends on...
Your biggest consideration is going to be local zoning laws. New Jersey is famous (or possibly infamous) for its stringent, varied, and unpredictable zoning laws. As late as last month a company in Hammonton was forced to scrap plans for a solar array on their...
You might want to consider franchising. A lot of young people, not ready to start working in the corporate world while things are still so volatile, are instead opening and running franchises of popular businesses. It lowers the risk that they run when they get...