Archive for June, 2010

Having the right employees critical for startups

Wednesday, June 30th, 2010

While having the right attitude is critical for small business owners, VentureBeat contributor Steve Fredrick says that it’s also important for entrepreneurs to bring in the right kind of employees as they work to start a corporation and ensure its success. Fredrick says that small business owners should first look to make sure that potential [...]

Initial New Jersey budget to keep small business center funding

Wednesday, June 30th, 2010

Despite proposals that it be eliminated, New Jersey Governor Chris Christie’s initial state budget for next year does include funding for a number of small business assistance centers, according to the Star-Ledger. The New Jersey Small Business Development Centers are a network of 11 entrepreneurship centers across the state that provide mentoring and financial planning [...]

Finding a small business angel investor

Wednesday, June 30th, 2010

When entrepreneurs need money to start a corporation, they often turn to outside sources of capital such as angel investors, who invest their own money into startups. Business Insider’s Martin Zwilling says there a number of strategies to find a willing angel. Networking can be one of the most useful ways for entrepreneurs to develop [...]

Florida college creates new entrepreneurship program

Wednesday, June 30th, 2010

St. Petersburg College has created a new Entrepreneurship Certificate program, which will accept its first students later this summer, according to the St. Petersburg Times. The program involves four eight-week courses: an introductory course, then three more on management, marketing and sales and planning, the paper reports. The classes are designed so they can be [...]

Young entrepreneurs play key role in Florida revitalization

Tuesday, June 29th, 2010

Business leaders in Florida’s Space Coast region are counting on the development of young entrepreneurs to bring the area back out of the recession, Florida Today reports. "Small business is where most of the economic activity occurs in good times or bad, and most of the truly successful ones tend to be driven by younger [...]

Rhode Island Governor signs small business law

Tuesday, June 29th, 2010

After what some legislators described as "months of collaboration," Rhode Island Governor Donald Carcieri has signed a package of small business assistance programs into law. Among the ideas included in the bill is the creation of a $125-million loan guarantee program, which will help improve access to credit for existing small business owners and those [...]

Small businesses add more jobs in June

Tuesday, June 29th, 2010

The latest Small Business Employment Index from Intuit says that small businesses added 18,000 jobs in June. That figure is part of a continued trend of job growth, giving encouragement to entrepreneurs looking to start a corporation. The results also showed a rise in both the average compensation and hours worked per small business employee, [...]

Forming a company with friends creates unique challenges

Tuesday, June 29th, 2010

To an entrepreneur looking to start a corporation, friends and family may seem like an ideal choice for partners or coworkers in the new business. But starting a company with people you know can also create several challenges, according to Wall Street Journal blogger Gautam Gandhi. He says that from the first days of the [...]

University of Texas and angel investors join forces to launch Texas Venture Labs

Monday, June 28th, 2010

The University of Texas at Austin has teamed up with the Central Texas Angels Network – a nonprofit investment organization – to form Texas Venture Labs, which hopes to connect entrepreneurs with investors and students, according to Community Impact Newspaper. The program will accept business idea suggestions from a group of selected entrepreneurs interested in [...]

UF center to help turn university research into new companies

Sunday, June 27th, 2010

The University of Florida and Gainesville city leaders have now broken ground on a new business incubator facility, which officials say will help spur the formation of new companies based on research by the school’s faculty and students. The project – called the Florida Innovation Hub – is being funded through an $8.2-million grant from [...]

New Mexico program offers free technical assistance to entrepreneurs

Sunday, June 27th, 2010

New Mexico entrepreneurs looking for technical assistance as they work to start a corporation may be able to receive free technical assistance from researchers at Sandia or Los Alamos national laboratories. The New Mexico Small Business Assistance Program is a partnership between the state and the laboratories that allows trained engineers and scientists to give [...]

Series of Philadelphia programs help new business creation

Sunday, June 27th, 2010

Last year, the city of Philadelphia pumped $2 million into a number of city programs to help spur small business growth. The Philadelphia Business journal reports that those efforts are now showing results and helping entrepreneurs start a corporation – and keep it running. "When I look at each one of the companies we helped [...]

Avoiding venture capital is best for some small business owners

Sunday, June 27th, 2010

The first thing many small business owners look to do after forming a company is trying to find venture capital or other investments. But Crain’s Chicago Business says that most companies should avoid it if they can. While at some point, a company may need outside funding, but the paper says that when small business [...]

Report says Buffalo area ripe for startup activity

Sunday, June 27th, 2010

A new study says that the Buffalo area is a promising location for startup companies, and gives entrepreneurs many changes as they look to start a corporation, according to Business First of Buffalo. The report, which was prepared by the director of the University of New Hampshire’s Center for Venture Research, said the region showed [...]

Small business competitions can get ideas off the ground

Sunday, June 27th, 2010

Getting that initial injection of capital is the first step that many small business owners struggle with. Entering – and winning – a small business competition can help them achieve that first step. Entrepreneur magazine says that many schools, companies and even states have started offering the competitions as a way to help entrepreneurs interested [...]

Lack of summer jobs is driving many teens to entrepreneurship

Friday, June 25th, 2010

Many teens who get out of school find seasonal jobs to earn some extra cash. But because the job market has left fewer of those positions open, many teens are forming a company instead. ABC News reports that for some teens, starting a small business – with the support and guidance of their parents – [...]

Clark County plans business accelerator

Thursday, June 24th, 2010

Several business leaders in southwest Washington state are working to develop what they are calling a business "accelerator" to help give emerging startup companies the support services they need, according to the Columbian. According to the paper, the project would give attorneys, accountants and other established companies free or low-cost office space. In return for [...]

Expert: Entrepreneurs need to prove their concept before forming a company

Thursday, June 24th, 2010

All entrepreneurs believe they have a successful product when they first start out. But in an interview with Bloomberg, entrepreneurial consultant Irina Patterson says that many entrepreneurs don’t bother to test out their ideas with potential customers before moving forward. According to Patterson, about one in four entrepreneurs doesn’t go out to find feedback on [...]

Filing an LLC can help in the event of an audit

Thursday, June 24th, 2010

Having a financial audit is a recurring nightmare for many small business owners. But TheStreet.com reports that home-based business owners can prevent many audit issues by starting an LLC for their company. By creating a separate corporate entity for the company, a business owner can separate bank accounts and financial statements, so that personal and [...]

Proposed tax cut would ease small business equipment costs

Thursday, June 24th, 2010

A new proposed tax cut would allow business owners to deduct 50 percent of the cost of a new equipment purchase made through the end of the year. "This tax cut provides a double benefit by creating an opportunity for small businesses to purchase new equipment while also helping the companies that manufacture and sell [...]