Running Your Business

Successfully manage and grow your business with our tips and resources about loans, risk mitigation, bidding, business insurance, and other related topics.

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Running a business means you learn to expect the unexpected. However, when events that are totally out of the ordinary course of business occur, if you don’t have a plan in place, the resulting damage to your business can be catastrophic.

As a small business owner, one of your vital concerns is to accurately determine your facility needs so that the facility where you conduct business contributes to your profitability.

Trusts are useful for many purposes, including avoiding probate, reducing/eliminating federal estate taxes, and managing property for a beneficiary when direct ownership by the beneficiary is not desired.

Any business that uses a name other than its legal name should take steps to comply with the assumed name statutes in the states in which it does business.

In its simplest form, cash flow is the movement of money in and out of your business. It is most often described as the process in which your business uses cash to generate goods or services for sales to your customers, collects the cash from the sales, and then completes this cycle all over again.

A “buy-sell agreement” is an important part of properly establishing your business entity in order to limit liability in your business structure.

Credit terms are simply the time limits you set for your customers’ promise to pay for their merchandise or services received. But for many small business owners, establishing credit terms can be cumbersome.

These days, if you don’t have a good, well-documented quality control program in place, you are really limiting your business.

There are many aspects of successful total quality management (TQM) program implementation. First and foremost: it must involve every employee in your business–from the very top levels to the temporary, part-time staff.

So just what is the liquidation option? It is the direct conversion of assets to cash by selling them to a user/consumer.

States and the federal government hold billions of dollars in property deemed abandoned by its owners. You can make your claim to any unclaimed property listed in your name.

Effective inventory management eludes many small business owners who often assume only large competitors can create a well-oiled inventory machine

This letter is designed for business owners planning to end their lease.

Make use of some pointers on what to do immediately upon receiving a contract.

The executive summary is arguably the most important section of the business plan. It must be concise, specific, and well-written.

Learn more about what you need to do to get out of a non compete agreement.

The action plan is one name for the portion of the business plan in which you account for business operations that weren’t covered in the

marketing and sales plans

A case study analysis of leasing business equipment compared to purchasing the same equipment.

Discover the key decisions that you should make if you think that the time has come to get rid of a vehicle.

Designed for business owners in need of a way to communicate the details of their business closure to customers

Watch now to find out key findings from our survey of 600 current and future small business owners, such as how they find needed resources or advice.

Watch now to learn more about what it means to be “in good standing”, some of the causes that can lead to a loss of good standing, and how your business can get reinstated.

When you decide to form an LLC or corporation, you must first register your business in your home state. But if you do business in several states, things get a little more complicated.

In this article, we explain what you need to know about annual reports, your filing responsibilities, and the ins and outs of franchise tax for your LLC.

If you’re doing business in another state, you may need a certificate of authority. Learn more about when you may or may not need one for your business.

This article helps business owners to understand what constitutes doing business in a state and how to determine if your business needs to foreign qualify.

BizFilings surveyed nearly 600 current and future small business owners. In this article, we look at their top five fears and challenges and offer some ways in which to address them.

On July 1, 2020, the United States-Mexico-Canada Agreement (USMCA) came into force. Learn more about this new agreement and what it means for small businesses.

7 tips to To keep your company healthy during the coronavirus outbreak. Take advantage of these seven contingency and business planning tips.

Learn about what is a DBA (doing business as) filing, its benefits, when you should file for your business, how to file, required notifications, and much more. Let BizFilings help you with a DBA for your small business.

Selecting the right business insurance is key to protecting your company. Learn about business insurance types, limits, deductibles and exclusions.

Follow these 8 steps to establish credit for your company and position your small business for favorable terms and rates.

Learn the legal choices and requirements when you move an LLC or corporation to another state, relocating a formal business entity. Let BizFilings guide you.

Learn how to end a business, LLC or corporation including state and federal requirements as well as notification of creditors.

Understand the importance of selecting an appropriate internet domain name or web address for your business.

Learn the top three things to keep in mind when building your company website.

Learn to use Twitter for business. Our Twitter Beginner-s Guide teaches you how to get started.

Check out these 7 ways to protect small businesses and use this as your guide to maintain a healthy business during the pandemic and position your company to thrive.

Thinking of dissolving your nonprofit corporation? Learn more about when you should dissolve and what steps you need to take to properly do so.

Business and personal asset protection require not only insurance coverage, but also limited liability protection from formal company formation as an LLC or corporation, and financial management.

Although U.S. entrepreneurs might associate microfinance with developing economies, microloans are an increasingly critical source of funding for domestic small businesses.

What is a trademark? Trademark is one of three legal terms used to describe -intellectual property.- The others are patent and copyright.

Understanding protection, advantages and use of registered trademarks.

Protect your business name and identity by understanding how to patent a name, search and apply for patents, trademarks and copyrights.

Creating a solid business plan takes time and energy. You may be asking: “Why do I need a business plan?” or “Why go to the trouble of documenting a business idea that I know will work?” The answer is that you significantly increase your chance of success if you chart your course with a written business plan.

Not everyone is equipped to own a small business or handle the impact on one’s personal life. You’ll need to understand the essential qualities for owners, and assess how your strengths and weaknesses match up.

The way in which you own property determines your rights in the property and your rights to dispose of that property. Learn the keys to passing property to heirs and other secrets of property ownership.

Having adequate insurance coverage is crucial, but overdoing can cause serious economic harm to your business.

If the use of a vehicle is necessary in your business, the first step is obtaining one. You may be able to use a vehicle you already own or purchase or lease a vehicle specifically for business use.

Almost every federal contract contains a clause allowing termination for convenience or default. Termination for convenience allows the federal government to terminate all or part of a contract for its convenience, while termination for default means the government doesn’t think you’re performing adequately.

Making smart fiscal decisions is a large key to improving your cash flow, but cutting your operating costs is equally important. Discover what outsourced services and operational changes can reduce your operating costs and improve your cash flow.

As the year ends, you may have reached the conclusion that your business didn’t meet your expectations, financially or personally. Businesses dissolve for a variety of reasons, and not all of them are necessarily negative

The government is generally required to pay you for work on a government contract within 30 days, and it usually requires the use of electronic fund transfers.

Government contracting rules, regulations and procedures dictate how you do business with the government. The two most important laws you need to be aware of are FAR (Federal Acquisition Regulations) and FASA (Federal Acquisition Streamlining Act). However, there are numerous other laws that have an impact on government contracting that you should also keep in mind.

The government is generally required to pay you for work on a government contract within 30 days, and it usually requires the use of electronic fund transfers.Government contracting rules, regulations and procedures dictate how you do business with the government. The two most important laws you need to be aware of are FAR (Federal Acquisition Regulations) and FASA (Federal Acquisition Streamlining Act). However, there are numerous other laws that have an impact on government contracting that you should also keep in mind.

Small business owners can ensure the quality of their goods or services by involving everyone in the business in the effort to satisfy customers.

Once you’ve improved your cash flow, you’ll likely encounter a lovely problem: a cash surplus for your business. Before paying down debt or investing with your extra capital, learn the pros and cons of each.

If you’re willing to open up ownership to the general public, an initial public offering (IPO) provides an attractive way to obtain capital without relinquishing any operational control over business activities. But as you’ll find, this option isn’t for everyone.

Fraud is often committed by business owners who misreport financial transactions by “playing with their books.”

Asset protection requires that you understand how liens arise and what property is protected from the reach of your creditors by federal or state law. Many times, the fact that your assets are exempt from seizure makes a creditor reconsider filing a lawsuit against you.

If the government makes a decision you don’t agree with regarding a government contract, you have alternatives. A contractor can use disputes, protests and other forms of conflict resolution to settle the issue.

External frauds commonly originate with or involve customers and vendors. Common frauds include check and credit card frauds, shoplifting, vendor and telemarketing frauds, and fraud perpetuated by ID theft.

There are a variety of special federal programs and initiatives designed to benefit small businesses in the government contracting process. In addition, help is available from a variety of public and private sources, including counseling services.

Mail and wire fraud involves crimes that violate federal laws because the frauds utilize the United States Postal Service or other interstate means of communication.

Learn about how short-term rental businesses are quickly expanding and how to form and create them, including business licenses and permits, zoning, taxes, & more.

Small business owners have alternatives to traditional insurance. Choosing insurance policies with higher deductibles and reducing risk can also assist small business owners in meeting their protection needs in a more affordable fashion.

Government contracting is done electronically, through two types of electronic means; e-commerce websites and EDI, which stands for Electronic Data Interchange.

In the context of the sale of a business, the “closing” is the point in time at which all necessary documents are signed by all the parties, apportionment of expenses up to the date of closing is done, money and keys are exchanged, and the buyer becomes the new owner of the business.

When the government solicitation you are responding to is an Invitation for Bid, writing your proposal will basically consist of filling out the forms that the government provides. However, when the solicitation is a negotiated solicitation, such as a Request for Proposal or Request for Quote, you will need to create a proposal.

A small business owner should always seek to minimize the amount of assets within the business entity that can be seized by creditors by withdrawing funds from the business.

Do you extend credit to your customers? If you do, two things are essential to maintaining control of your receivables.

Few things come to fruition without careful planning and the tenacity to stick to that plan. Learn the ins and outs of goal-setting and -implementing to build your wealth.

The HUBZone Empowerment Contracting Program is designed to stimulate economic development and create jobs in urban and rural communities. The program provides contracting opportunities to small businesses located in, and hiring employees from, Historically Underutilized Business Zones. If you and your business qualify, it could help you break into the business of government contracting.

Whether committed by employees, vendors or unknown individuals, the need to protect your business from fraud is an unpleasant fact of life for the small business owner.

New smart-tech payment methods are being used more widely by customers and savvy business owners alike–know your options

Communication and the right equipment to do it with is absolutely vital to the running of most every business.

Why do some businesses succeed while others falter? One reason is that the successful business owner is able to make adjustments if things don’t work out exactly as planned. In effect, the successful business owner is able to right a sinking ship, while the unsuccessful owner just goes down with the ship.

Are you considering starting a business after 50? Here are some growing industries (and regulatory matters to consider) before diving into modern entrepreneurship.

Statistics tell us that many new businesses fail to succeed. But why do some fail when others succeed?

The question of just how the right to vote squares with the right of an employer to expect attendance on the job is likely to be raised in many workplaces.

The timing of income and expense is imperative. If income exceeds expenses, there will be a profit, but only if there’s enough income to cover expenses and keep the business operating as payments come due.