Taxes in the US are notably complicated. In some ways, this is frustrating. But business owners should understand that there are plenty of incentives buried in the almost 7,000 pages of current tax code: that’s one reason it’s so long. Section 179 is one of the most interesting tax incentives available, because it encourages investment, expansion, and improvement.
Working to achieve your goals can feel overwhelming at times. Have SMART goals that are Specific, Measurable, Attainable, Relevant and Time-bound.
Goal setting does not have to be a boring task. It not only motivates us but can often improve our personal and professional success.
Starting a business is a big challenge. In fact, most businesses will fail during the first two years. Entrepreneurs need to be prepared for a marathon, not a sprint, to make it. They’ll need to overcome several obstacles to make it. These include everything from overcoming personal mindset issues, to timing the market correctly. By looking at entrepreneurs and businesses who thrive, it’s easy to see which behaviors can lead to long-term success.
Everyone has heard that it’s important to have good credit. Your credit score helps people evaluate how risky it is to do business with you. The most common reason someone will check your credit is to make a lending decision. But other people and institutions check credit, too. Utility providers, landlords, potential employers, and even cell phone companies check consumers’ credit histories.
Running a business is a challenge. It can be difficult to know when to expand, offer new services, or make other changes. One great way to determine the best step to take is by conducting market research. This can benefit your business at any stage. It’s recommended when starting a business. It’s also a great way to ensure that your existing business is still maximizing its potential.
There are many different theories about what makes a strong leader. Some people believe leadership is all about vision. Others point out that it’s important for leaders to be able to understand those around them, and particularly to spot talent effectively.
Small businesses are a huge economic engine for the US. As of 2021, there were over 32 million small businesses in the US. They employ about 47% of the labor force in the private sector. But today, small businesses are facing big problems when it comes to sourcing materials. Surveys by government organizations and anecdotes all point to the fact that supply chain woes have been a huge hurdle for small businesses over the past year.
Financial scams are becoming a problem everywhere. Fraudsters target people from all walks of life, in search of information and money.
It takes an ambitious person to start a small business. Not everyone has the vision and drive to be their own boss. But sometimes, it can be tough for someone who started a business to take it to the next level. When a company takes off and truly prospers, it’s usually because the founder has developed and followed a plan to scale. There’s long been a stereotype that entrepreneurs don’t make good executives when it comes to guiding a company long-term. But by being intentional and understanding where many entrepreneurs make mistakes, it’s possible to scale up successfully.