What Is EIN and When do Sole Proprietors Need One?

Start here
There is wealth of information on the Internet about starting and running a small business. A small business entity can be set up in variety of fashions from tax and reporting perspective – sole proprietorship, LLC, S Corporation, C Corporation and so on. There are several aspects about sole proprietorship that are fundamentally different from other forms of entities, so it is important to understand the details and procedures for them, such as when you should apply for an EIN.

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3 Items You Must Address Before Taking Self Employment Plunge

Entrepreneur
Going from being employed to working for yourself is a major transition. To many it looks like a dream – you get to set your own hours, take holidays when you like, work from home, and set your own wage. It offers unparalleled freedom to do your own thing and control your own destiny, and yet it also comes with an awful lot of responsibilities and complications.

These responsibilities and complications are overlooked by many, but they are just as important as the rewards in terms of how they’ll shape your lifestyle and the impact they should have on your decision making process. Here are 3 important items you need to consider before taking the plunge.

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Three Strategies Successful Entrepreneurs Use for Business Success

Entreprener Success
These days many people from all walks of life are getting interested in leaving their jobs and pursuing their business dreams. If you have the will and desire to start your own business you should know that beginning to think and act like an entrepreneur is the first step to bring your vision to fruition. With that thought in mind, remember that there are a plethora of success habits that entrepreneurs need to cultivate in order to ensure that they are successful at becoming an entrepreneur and a businessman. Here are three characteristics of a successful entrepreneur:

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Starting a Business? What You Need to Know First

Entrepreneur
Who hasn’t dreamt of being his own boss and launching a business that will one day become the next Amazon or Google? The idea of having the freedom to pursue your dream is exciting for anyone who has gone through the drudgery of corporate world. While this is indeed exciting and noteworthy you also need to know that starting your own business is not something that everyone can do. It takes lot of effort and commitment to build a business that will one day rival Amazon of today. For every Amazon there are hundreds of others who did not make it. Don’t lose heart, though. With good understanding of what it takes to start a business and little perseverance you too can build a respectable sized business even if it is not the next Amazon. Here is a 5 step process you need to go through before taking the plunge.

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Lack of Protection can Get Small Businesses in Hot Water

Insurance
Starting your own business is always risky, at the same time it is exciting. Despite the amount of competition out there in seemingly every market, adventurous entrepreneurs are willing to take the risks and try to reap the potentially vast rewards. This is admirable, however where a number of startup companies go wrong is they fail to make sure their businesses are adequately covered against unexpected risks that could have devastating effects. In fact, a worrying amount of new businesses owners still assume they’re simply covered under their standard home insurance policies. That is simply not true. Here’s what you need to know about business insurance.

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How to Get Funding for New Business with Little or No Credit

Loan
Here is the dilemma. You have this great business idea that you feel strongly that it will succeed. However, you have no credit and no collateral. What do you do? How can you get much-needed loan so that you can jump start the business? Well, here is some good news. While many lenders may not feel comfortable with giving you money solely on the idea there are some lenders and investors who will base their decision to lend you money largely on the strength of your business idea. If you have cash flow, a great idea, and can prove your concept, you may be able to get the money you need. How? Read on to find out.

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Starting a Business in College? Here is What You Need to Know

Michael Dell
Some of the greatest businesses were formulated as business ideas right in college. Dell Computers, started by Michael Dell in his dorm is one of the largest PC manufacturers in the world. Students do not have to wait to graduate before they can start their businesses. However, it is crucial for the students to get to understand some of the basic requirements to start the business and ensure smooth running considering the challenges involved. Here are different aspects of starting and running a business that anyone, and particularly college students need to think about.

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5 Avenues to Earn Money as a Writer

Writer
Thousands of people nowadays have chosen to be their own boss by working as freelancers. Internet has created great opportunities for these people. Many types of writing skills are highly required on the internet industry. It is possible for writers to make decent money by doing what they know best and have an interest in. There are five ways writers can employ themselves. These are creative opportunities. They require hard work, self-motivation, dedication, positive attitude and lots of spirits, and willingness to endure financial risks. Five ways writers can employ themselves are freelancing, copywriting, article (web-content) writing, blogging and writing consulting services. These are potential opportunities that can be tapped online and offline platforms.

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UK Government Launches Guide to Find the Right Business Finance

Business Finance
Probably the definitive manual for any business looking for funding in the UK is a new Business Finance Guide, jointly launched by the Institute of Chartered Accounts in England and Wales (ICAEW) and the British Business Bank, and promoted by the Department of Business, Innovation and Skills and 18 major finance and business organisations.

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How to Start a Business in 4 Simple Steps

4 Steps
To many inexperienced entrepreneurs starting a business seems like a daunting task. After all, there are so many items to take care of before you can even open the doors for business. This enormity of challenge turns off many would be entrepreneurs from even giving it a try. In my view, this could be a mistake. While there is no doubt that starting a business requires lot of hard work, along with little bit of luck, with the right planning and preparation it is possible to achieve your dream. The key is to break the challenge in smaller tasks and tackle them one at a time. Here are 4 steps that will guide you through the process of starting a business.

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