According to the National Commission on Entrepreneurship, at any given time, 6% to 9% of the United States adult population is involved in planning for a new business. Most of these aspiring entrepreneurs, they say, will start a Lifestyle Business primarily providing employment to themselves and their families. The balance will find themselves in Entrepreneurial Firms those growth companies that, according to the NCE, created two-thirds of net new U.S. jobs in the 1990s.
Both are fraught with risk and potential reward. Ask a small business veteran about the risks, and three likely come to mind: employees, inventory, and accounts receivables. These are both the bad news and good news of business. In the audiobook, Sound Advice on Small Business, author Jim Schell says, The bad news is that theyre a headache to manage, but the good news is they exert leverage.
What business would Schell, a seasoned entrepreneur and co-author of Small Business for Dummies, start if he had it to do all over again? With his tongue planted firmly in his cheek, he says in a perfect world it might be any business without employees, inventory, and minimal accounts receivables. Seriously, though, Schell says, Without [them], you can only grow so far, so big. With them, the world is our oyster.
A Look at Small Business Incorporating in Florida The choice to incorporate a small business in Florida has several advantages. Corporations are separate legal entities and, as such, the corporation rather than individual owners pay both the taxes and the liabilities. If you are thinking of running (or are currently running) a small business, incorporating in Florida might be a good idea because you would no longer held personally liable if your business suffered a downturn.
Small business incorporating in Florida also means that you do get to enjoy the perks and incentives that come with running a small business. For example, b ..
Jim Schell offers advice to entrepreneurs on managing a small business each week in the free audio newsletter from Whats Working in Biz, http://www.whatsworking.biz/full_story.asp?ArtID=92
About the Author
Cunningham is a principal of Whats Working in Biz, http://www.whatsworking.biz, a publisher of business audiobooks and online audio programs on marketing, sales, and small business strategies.
Small Business Ideas - Your Image Can Lose You BusinessWhat image do you and your people portray to your prospects and clients? Here s a situation that happened to me recently and hopefully you ll glean useful small business ideas that will make you money instead of costing you money. January is always a good time to grab bargains so when I noticed that two well-known blind companies were advertising 35% off their blinds, I decided to give them a call
and it was an interesting experience. Company A This person turned up on time which in itself is a big bonus. She was dressed in a professional way and was very efficient in her manner. I knew what I w ..
Richard CunninghamStarting a Small Business: Balancing Risk and Reward
