If you would also like to go for it and launch a startup yourself, you’ll need good ideas and a ton of organization. We’ve got some inspiration for both! How do you systematically approach the search for the next “big thing”? How have others written their success stories? And…
When planning the finer details of your web store, rushing through your financial plan can lead to chaos. It’s important to be aware of how much money you need to spend, and only an extensive finance plan can provide the necessary security for the development of your web store.…
Are you planning on setting up a side business and want to know how to go about it? Starting your own side business while working full time is a great way to minimize your financial risk. Test the waters, but first make sure you are legally registered and that you are even…
Before a business idea can be implemented, it is necessary to create a business plan. This serves as the founder’s roadmap, and summarizes all necessary information about planning and finances. However, the business plan is also highly relevant for investors as well as potential…
Humans are always producing inventions in the hope of making life easier. If you invent something new, you can apply for a patent. Patent laws are there to protect the inventor’s work since the patent is by definition a property right. But what exactly is a patent, what is its history, and how do you file one?
Starting something is often the hardest step, even if it is exciting. This applies to businesses as well, and as anyone with a background in small businesses or start-ups will know, you often need all the help you can get. By being tax-savvy, you may be able to provide your business with a leg-up in the beginning phases, by knowing what is tax deductible and what the available small business...
According to the US Small Business Association (SBA), a small business is a privately-owned and operated business with a small scale of trade and a small number of employees, depending on the industry. A small business can be an LLC, partnership, or sole proprietorship. There are many pros and cons to running a small business, and in this article we will be your guide and answer your questions.
When two or more people join together to operate a business, they often choose a limited partnership as their legal structure. While it is fairly simple process to start a limited partnership, provisions regarding liability can sometimes pose major challenges to shareholders. Whoever enters into a limited partnership doesn’t just take over a part of the management duties, they also become...
Do you want to put a business idea into practice and set up a Limited Liability Company? You may already have basic knowledge on LLCs, but do you know the process of starting one, how much it costs, and how long it will take? We list the steps to take and provide with a checklist so you can keep on track.
Crowdfunding is a way of raising funds for a project using an online campaign. It’s a popular way of financing, especially for private individuals and startups. Usually private individuals are addressed directly. Four main crowdfunding models have been established, which differ depending on the rewards you promise your donors in return. In our article, you will also learn about what makes a good...
You will most likely know the shareholders in your company. What does the stakeholder situation look like? The success of your company depends on various groups of people. Not all of these people are employed by you or have shares in your business. In particular, external stakeholders such as suppliers and customers, as well as the state and the general public, have a massive impact on the success...
When setting up a company, you should consider carefully which legal form to take, since the rights and obligations of the shareholders and the company itself depend on it. It is important whether you choose a corporation or a partnership – and the choice of legal form also plays a role. If you choose a partnership, you will have to deal with its different legal forms. We explain how these differ....
The business structure determines how a company is run regarding its legal aspects. It regulates the relationship between partners and shareholders as well as their relationship to the state and the environment. Here, we provide an overview of the most common legal structures in the US and explain what you should bear in mind when choosing the legal entity that’s right for you.
The fight for significant market shares is particularly difficult for young companies. But even large, established companies can’t be successful in a market that’s going nowhere. In order to increase your profits sustainably, you should leave the competition behind and open up a completely new market. The Blue Ocean Strategy reveals how you can achieve more success with innovations.
Starting a business can be challenging. In this category, prospective entrepreneurs will find everything from coming up with a sustainable idea and creating a strong business plan, to funding, legalities, and the key steps required to get a project off the ground.
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