Many people assume that nonprofit corporations aren’t permitted to generate profits, but actually, that isn’t true. They can make profits, but it’s the way in which they’re used that differentiates them from limited liability companies, or LLCs. In most instances, LLCs distribute their profits among the different business owners and shareholders, while nonprofits are not […]
Archives for August 2023
8 Important Legal Requirements For All Entrepreneurs
If you’re new to the world of entrepreneurship, it’s imperative that the business you start is fully compliant with all relevant local, state and federal rules, and there may be some legal matters that you’ll need to address right off the bat. To help ensure you meet all necessary legal requirements when starting up a […]
How Operating Your Small Business As An S Corp Could Be Advantageous
Deciding what type of entity you want to operate your new business as, is one of the first things you’ll need to do when setting it up. Some of the most common entity options include partnerships, sole proprietorships, limited liabilities and C and S corporations. One corporation in particular has the ability to confuse business […]
Personality Traits Required for An Entrepreneur
Setting up a business involves many different factors, such as finding a strong business concept and enough money to start the venture, but it also requires the business owner to have the right kind of personality. An innovative product and all the money in the world won’t help if an entrepreneur hasn’t got some, or […]