Bachelor boy asked:


1) Assume they have a family business already running and they start another.
2) Assume they do not have family business and are new to doing business and may or may not have guidance.
3) Assume they worked in management positions and non management positions in any company.
4) Assume that they may or may not have studied business management.

Roslyn

bizpod asked:

Visit businessenglishpod.com to view and download more videos on Business English for writing emails. Email Tune-up is a new series of business English video podcast for ESL students looking to improve their business writing skills. Visist www.businessenglishpod.com to learn more.

Matthew

bizpod asked:

Email Tune-up by businessenglishpod.com is a new series of business English video podcast for ESL students looking to improve their business writing skills. Visist www.businessenglishpod.com to learn more.

Harvey

Entreprenuer Mind asked:


I just started my own carpet and janitorial cleaning business in the memphis, tn area. I do commercial, residential and vehicles. What are some successful ways to get contracts and market my business to get more business?

Veronica

Michael.t.brian asked:


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Are you planning to start a new business? Want to invest in a new venture? But are unable to put your plans into action because of inadequate funds? Only this reason can not stop you from realizing your dreams. Now business start up loan will provide finance to start a new business. Put all your pending plans into action with business start up loan.

Any new business requires huge initial investments. Business start up loan provides you funds to fulfill your varying needs like:-

* Setting up an office

* Purchasing machinery

* business property or there are needs like settling the plant or

* buying the accessories and equipment

Business start up loan covers up various hidden cost and contingent expenses as well. Business start up loan can be easily procured by any type or size of business. You can take funds to invest in a small or large venture or other business purposes.

Business start up loan is for everyone who needs it. If you have collateral and are ready to pledge it can pledge it to get secured business start up loan. The placement of security will benefit you with loan at cheap rates and easy terms. However, if you don’t have any collateral, you can opt for the unsecured business start up loan.

As business start up loan, you can borrow anything ranging from £50,000-£1,000,000. For a repayment term that extends from 5-25 years. A longer repayment term allows easy repayment of loan amount. Whereas, it is advised that selecting a smaller term will help you save considerable amount in terms of interest. But you can easily choose depending on your financial standing and repaying ability.

Anyone can easily apply for business start up loan. Now its time to put your plans into action immediately! You can take the funds of business start up loans to set up a small business, a medium one, a large one too.



Rina

Alex Sutovsky asked:


The positive economic atmosphere in the market is also felt in the large number of new businesses opening in Israel. Each day, many new businesses are opened, most of them small and medium sized. More than once this relates to young people who have finished their world tour and now are full of energy and attack the market with a view to conquering it. Our office feels the reawakening of the economy and mentioned that recently there has been a sharp increase in the number of those contacting us in order to receive advice and to open a new business. Also, the new reforms planned by the Ministry of Finance make the establishment of new businesses more worthwhile and more profitable.

Nevertheless, even if a business owner has a fantastic idea and a tremendous potential for success, incorrect decisions at the start of the road may decide the fate of the business already at its infancy. Most of these incorrect decisions in opening a business result from a lack of knowledge of legal and accounting affairs connected with establishing a business. In order to assist businesses at the outset, we hereby submit a complete manual for opening a business:

Location of the business

Throughout the country and in the center of the large cities, there are many areas available for leasing. The prices are lower than at any time and one can choose the most suitable building for the business’s needs. In a new business, it is not recommended to sign a lease for over a year, but to have an option to extend the lease under identical conditions. A short-term agreement will ensure the transferring of the business to another place should the chosen location not be successful from the business’s point of view. When choosing the location of a business, remember that the costs of transferring it are very high and include transport, renovations, etc.; and therefore, it is most important to choose a suitable location.

Bank and credit frameworks

Despite the fact that many self-employed continue to run the business also using their private bank account, this is not recommended. The management of a separate account for the business provide a more precise indication of the business result and makes the management of cash flows in the business easier. In addition, in order to recognize bank expenses and commissions as recognized expenses, the tax authority requires the business to have its own account.

It is recommended that the business account will not be kept in the bank in which the private account is kept. Generally, the bank will see both accounts as one account for the purpose of giving credit frameworks and calculating indebtedness. The opening of a bank account with another bank can increase the credit framework given to the business.

It is very important to see the bank as a partner and to maintain a positive reputation with it. When a problem is expected in cash flows, it is recommended to inform the bank and come to a joint solution. Cooperation with the bank is even more important due to the new regulations which forbid the bank to allow an overdraft without approval as from July 1, 2006. Maintaining good relations with the bank does not contradict that it is recommended to negotiate the amount of interest and commissions, and in this way to save money.

Funds for small businesses

One of the central problems of new businesses and businesses in general is credit difficulties. In Israel, there are many funds that operate and encourage new, small, and medium – sized businesses with the method of granting credit changing from time to time.

Generally, assistance is given to businesses that already exist and operate, but there are also funds that give loans to businesses being established. At the time of taking credit, it is important to ensure that the business can meet the monthly repayment. For businesses that cannot meet immediate repayment, there are loans where repayment is made only after a period which is decided in advance.

Value Added Tax

The business can operate only after registering and opening a VAT file.

There are two types of independent business:

a. An exempt business – where the expected annual turnover will not exceed NIS 65,720 – generally, these are small business and employees who are only starting their activities as self employed. Such a business only reports once a year to the VAT and does not collect and cannot set – off VAT. Businesses such as the liberal professions cannot register as exempt businesses, no matter what their revenues

b. A taxable business – anyone whose annual turnover is expected to exceed NIS 65,720 must be registered as a licensed dealer.

When filing an application to the VAT authorities for opening a business, you should have the following documents: an application to open a business signed by the dealer/partners, a photocopy of an identity card/identity cards, a cancelled bank check / any other document showing details of the bank account and details of the holder of the bank account and the rental contract.

In certain cases, the Value Added Tax Authorities are entitled to demand additional documents such as future engagement agreements etc.

Income Tax

After the change in the law, about a year ago, dealers are required to report to the Income Tax on the opening of a business, and anyone who does not do so is exposed to administrative fines. In order to register an independent business, an application to register one must be made with the assessing officer. Despite the fact that it is possible to open a business with the tax authorities independently, it is recommended to obtain the assistance of a CPA to do so.

Opening a deductions file for employees

If the business employs people, a deductions file must be opened with the assessing officer. The opening of a deductions files with the National Insurance Institute is carried out automatically by obtaining data from the Income Tax Authorities.

National Insurance Institute

In addition to registering VAT and income tax, an independent dealer must register also with the National Insurance Institute. Registration is done by completing the annual report form. The Institute requires that the number of hours expected and the level of expected income. There are two types of self employed in National Insurance:

1) A self employed person who meets the definitions of a self employed person – pays advances on account and insures the income for which he pays advances.

2) An independent who does not meet the definition – a dealer who works in the business less than 12 hours a week and earns less than NIS 3,692 per month. This status generally is suitable for employed people where the business provides him with complementary income. When the business is registered with the National Insurance Institute – the Institute examines whether insurance fees were paid from the age of 18 until the age of opening the business -whether there are periods where the dealer was abroad or did not work – he will be required to pay for these periods.

Keeping books of accounts

Every person who has income from a business or profession must keep books. The method of keeping books changes according to type and size of the business. At the start, it is recommended to keep close contact with a professional person – certified public accountant or tax consultant in order to obtain a detailed explanation of the method of managing the books and the procedures of issuing invoices and receipts. In addition, cooperation with a certified public accountant assists the business in understanding more correctly and releasing its owners from waiting unnecessary time.

Non keeping of proper books causes their disqualification by the tax authorities. This sanction is likely to result in a situation where the assessing officer will determine for himself the annual assessment that the business owes, and its owner will have to prove the exact income according to which the tax is paid.

__________________________

For additional details regarding the specific requirements of every client, send us your query and we will gladly get back to you with a response regarding your specific needs.



Howard

Matt S asked:


I am inbetween careers and I have 150,000 to invest in starting a business and/or to invest in beginning my new career. What business should i consider starting?

Lester

Gen Wright asked:


Business cards are often overlooked when it comes to creating a positive image for a business. This is common because many business owners have many important things to take care of. This is especially true for a new business. Also, business cards are often neglected because they are perceived as tiny and unimportant items.

So, are business cards really that important to warrant any attention from the business owners themselves? Let’s take at look at how business cards are used in the lives of busy business professionals.

Business cards are used whenever there is any intention to keep in contact with another person for business reasons. So we see business cards being handed out at business meetings, trade shows, career fairs, and so on. Usually, the exchange of business cards takes place between two strangers.

In other words, both parties know very little about each other. They have never done business with each other before, and the ways they will get to know more about the other party is through the hand shake and the business card. This is where the business card plays a very important role.

At that moment, the business card represents everything about the other person. It shares important information about the position of the person (Director, Sales Director, Marketing Executive) and lets everyone else know what he or she does for a living. Every bit of information that is shared through the business cards allow potential business partners (or customers) to form first impressions.

First impressions are very important because most people will decide whether to go ahead and continue fostering a business relationship simply based on the very first impression. So if your business cards give out the wrong signals, all chances of developing the relationship will be destroyed. In this aspect, you can imagine thousands or maybe even millions of pounds being lost due to undesirable first impressions.

To leave a favorable first impression, all you have to do is to pay more attention to the process of creating business cards. The process of designing and printing business cards goes something like this.

First, brain storming sessions may be held so as to harvest as many ideas as possible. After that, a few designs may be created as prototypes. If you like, you can send out sample copies to business associates to ask for their opinions. Decide on the best version, and then send out the design to your printer.

Because of the importance of business cards, it is wise to pick a business card printer that you can trust. That means picking a service provider with lots of experience in printing.

Professional business cards printers will be able to give you proper advice on the technical aspects of business card printing. For example, if details of the logo may be lost due to poor image source quality, they will notify you. Such strict quality control measures are necessary to ensure that business cards turn out exactly the way you want them to.

With high quality business cards, you never have to worry about creating the wrong first impression again.



Shary

bobinn asked:


Looking to develop a new business that does not require collecting Texas sales tax on products or services. Are there such business out there?

Kenneth