How to build your business the right way?

Are you planning to build your own business? If yes, then you should build it the right way. The right way to build a business should begin at your heart and at your mind. Start establishing it at your heart. Yes you’ve read it right…at your heart! Why I am saying this? One of the top reasons why a businessman fails is his lack of passion and joy to his business. Once you raise a company which you don’t find interesting, you can hardly invest energy and enthusiasm on it. Thus, it may lead to a business downfall. The first thing to do to form a company that will stand through time is to make sure that it is written in the tablet of your heart. Ask yourself…do I really love this business? If you can honestly and firmly answer a “yes” on that question, then congratulations! You have built your business in your heart the right way. Read more

How to Generate Funds for your Startups

According to SBA 90% of the startups fail within first two years of the operation. The second common frequent reason due to which most of the startups fail after poor management is lack of funding for startups normal operations and marketing campaigns. In this article we would be discussing tips which you should follow to generate enough funds for your startups.

Decide the Nature and Amount of Funds: – Before searching for funding opportunities you need to evaluate how much and when you would need funds. Whether you need Funds for Long-term or Short-term? How quickly you can pay back your funds? Whether you need entire amount at the start or you want them in small intervals? Whether those funds would be used for company expenses like paying salaries etc or whether those funds would be used in developing assets like real estate. Read more

How to register thy business in the Philippines

How to start and register your business in the Philippines? You maybe landed on this page in search for the answer of that question. Having a business that earns substantial profit is a dream for everyone. On the other hand, having a legitimate business that shares income with the government is a noble one. There are four common forms of business in the Philippines. They are sole proprietorship, partnership, corporation and cooperative. Each form of ownership may have a different process of registration. The following are the government agencies that you must deal with to legitimize your ideal business. Read more

What are the advantages and disadvantages of forming a corporation?

The world’s largest companies are formed as corporations. Microsoft, Google and Yahoo are all corporations. These companies are worth billions of dollars and they are what you will always see and hear on a business or stock trading news. Unlike a sole proprietorship or a partnership, a corporation is a business that is recognized by law as a separate legal entity with its own powers, responsibilities, and obligations. The defining feature of a corporation is its legal independence from the people who create it. If a corporation becomes insolvent, its owners and shareholders will not be liable beyond their equity investments in the corporation – creditors cannot go after the stockholders’ personal assets to exhaust their debts. This attribute is called limited liability. A corporation sounds very promising, but before sole proprietors and partners decide to incorporate their businesses, we should first study the following advantages and disadvantages of a corporation. Read more

Different forms of business and company ownership

1. Sole Proprietorship

Single proprietorship is the simplest form of organization in most of the countries in the world. Unlike other forms of entity, it is usually not governed by special laws. A proprietorship is a type of business entity which legally has no separate existence from its owner. Hence, the limitations of liability enjoyed by a corporation and limited liability partnerships do not apply to sole proprietors. All debts of the business are debts of the owner. The single proprietor has unlimited liability since creditors of his business may proceed not only against the assets and properties of his business but also after his own personal assets and properties. A sole proprietorship essentially refers to a natural person or individual doing business in his or her own name and in which there is only one owner and no partners. Read more