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As entrepreneurs looking to start a corporation prepare for the new year, it would benefit them to take a step back and review new tax regulations that could change their plans for the immediate future.

When President Barack Obama signed the much debated Small Business Jobs Act in September, he also introduced several new tax changes that will affect small business owners, especially those looking to make big purchases.

According to Entrepreneur magazine contributor Mark Henricks, the Act doubles the expense limitation to $500,000 for fully writing off fixed assets such as office furniture, machinery, equipment and computer software.

And this benefit is not something to be scoffed at.

"For instance, if a professional service corporation subject to a flat tax of 35 percent invested $500,000 in computers, software and office furniture, it could reduce its federal tax bill by 35 percent of that amount," Henricks writes.

Employees stand to benefit from the tax provisions as well. CNN reports that the breaks could boost worker paychecks by nearly $40 per week.

When entrepreneurs consider forming a company, the ideal business environment that comes to mind is usually not that of Milwaukee, Wisconsin. However, if the new year brings the help business-minded individuals are looking for, that could all change.

Contributor for the Milwaukee-Wisconsin Journal Sentinel Tom Still recently listed his top items for business growth in Wisconsin for 2011. Ranked among his top wishes was a need for more businesses filling an LLC to the capital they need to grow.

According to Still, institutional investors in the Midwest produce approximately 40 percent of the venture capital in the United States, but only about 14 percent of that is invested in that region. To combat this, Still suggests that lawmakers considers the tax credits that investors have received since 2005.

"These credits prompted a four-fold increase in early stage investing in five years and made Wisconsin the nation's leader in creating angel networks," he writes.

Wisconsin's Governor-elect, Scott Walker, realizes the challenges facing him as he takes office, including fulfilling his campaign pledge of creating 250,000 additional jobs by the end of his four-year term and increasing funding for businesses, the paper writes.

As economic forecasts begin to look up for 2011, an increasing number of entrepreneurs across the country are considering forming a company, and according to one source, there may be no better place to do so than in New England.

While California, especially Silicon Valley, and increasingly New York have been considered hubs of innovation for technology startups, the Boston Globe predicts that this sector will soar in New England during the new year.

Big companies, such as Google and IBM, will continue shopping in New England, spurring angel investors and venture capitalists to invest in promising new ventures. As just one example of how New England startups are growing, the Cambridge Innovation Center has leased more than 60 offices in the space to startups since last September.

Tim Rowe, the center's chief executive, offered some reasons for growth in the tech sector.

"Innovation is spreading across a variety of fields, from alternative energy to mobile phones to life sciences. Meanwhile, a still difficult job market is pushing would-be entrepreneurs – particularly recent college graduates – to give their startup ideas a try," the Globe writes.

But as the number of tech startups and businesses filing an LLC grows, so too will competition. CNN Money writes that in an increasingly crowded market, visibility and networking will be key.

A former executive at Google is getting ready to raise $100 million in order to fund start up companies from around the country.

Merus Capital, which was first established in 2007, plans to have the new dollars raised by early to mid-2011, Reuters reports. The venture capital firm, which was founded by former Google executives, focuses on helping software companies get off the ground. The two men at the helm of these investments are Salman Ullah, a former vice president of corporate development for Google, along with Sean Dempsey, who previously headed the merger and acquisition arm of the search engine giant.

Mark Heseen, president of National Venture Capital Association, said that many investors were reaping the rewards of early fund injections.

"What we're seeing is that checks are now being sent back to LPs and I think that will give them some positive encouragement to reinvest in venture," said Heseen in an interview with Reuters.

Other venture capital firms have been investing in new operations. Crosslink Capital recently announced it give funding to DevonWay, a cloud technology company.

A recent survey of venture capital fund leaders in the country revealed that the majority of firms plan to increase funding in the next year. The Wall Street Journal reports that a survey, conducted by the National Venture Capital Association and Dow Jones, found 64 percent of the 182 CEOs polled said that they would raise "additional funding" in 2011.

But many are still hesitant to help fund the Series A round, an early stage of fundraising for start-ups. Sixty-eight percent said that it would be difficult to raise Series A funds, while 65 percent said it would be difficult to raise money for Series B.

"At this time last year, the venture capital industry was optimistic, but cautiously so," said Mark Heesen, president of the NVCA. "The market was so troubled in 2009, the sentiment was that things had to get better in 2010. It turns out our predictions were correct and in the past year we have moved beyond the financial crisis and returned to doing what we do best — building great companies."

The NVCA made other headlines when it applauded the work of U.S. Senate in passing new legislation. The group endorsed the Senate's passage of American COMPETES Reauthorization Act of 201, which it said would help the U.S. stay competitive in a global market. 

An Idaho-based technology company has announced a new round of funding, thanks to a handful of new venture capitalists.

The American Chronicle reports that CradlePoint Technology recently revealed that it received $7.5 million in venture capital thanks to VP firms including Venture Partners and Highway 12 Ventures. The funding represents the first round of Series B funding for the company, which hopes to increase the pace of growth for the firm.

"When you're small, in the worst economic times ever, you've got to be profitable and grow and make money to survive," he said."When you get to this point, it's always about driving revenue," Sewall said. "That's what you use the capital for, to push growth and innovation."

The firm said that it would use part of the money to hire 27 more employees at its Boise office, and will likely have to move to a larger building as a result.

Two Harvard Business School graduates have found success by building an online shopping network with more than 3 million users.

The Financial Times reports that Alexis Maybank, 35, and Alexandra Wilikis Wilson, 33, bypassed the normal process of creating a business plan and created a short presentation to investors. Mybank says that she and her colleague didn't have time to write a long business plan.

“You could have taken a good month to write a beautiful 40-page business plan, but you could have lost a critical month in getting your product to market,” says Ms. Maybank, who adds that competition was coming quickly. “You don’t really know how an idea is going to take off before putting it in front of customers.”

The two women, who graduated HBS in 2004, decided to start the business after looking through clothing at New York's sample sale, held annually.

Other members of the Harvard Business School community will soon get their chance to try and create a successful company. HBS recently announced that it was launching a $50,000 fund in order to help students create proto-types for companies.

Two entrepreneurs are taking home big honors from one of the most popular small business magazines in the country, based on their success in 2010.

Entrepreneur magazine unveiled the winners of its Entrepreneur of 2010 contest, which was sponsored by UPS. The business owners recognized included to take home the award was Daniel Lubetzky, founder of KIND Healthy Snacks, Allen Kim, founder of Bebarang and Dereck Zobrist, founder of Enovative Kontrol Systems.

"From back-to-basics healthy ideas to creative solutions for everyday issues, this year's winners offer a glimpse into the multitude of ways entrepreneurs across the country improve our world," said Amy Cosper, VP and editor in chief of Entrepreneur. "Lubetzky, Zobrist and Kim each define the entrepreneurial spirit—from the way they've braved challenges and thrived, taken on risks in the name of an idea, and created opportunities out of what may seem like nothing to everyone else. We're excited to be able to start the new year by honoring our winners as well as our readers at the 2011 Growth Conference."

One of the most innovative companies on the list is Evonative Kontrol Systems. According to its website, the firm uses smart controls that turn the pump off of devices when they does not need to run.

A technology company recently secured a new round of funding and the appointment of a Chief Operating officer, according to an announcement by the firm.

DevonWay, which specializes in providing cloud computing technology to the nuclear power sector, said that it had received new funding from Crosslink Capital, a venture capital company based in San Fransisco. The firm said it would use the money to increase the pace of innovation.

"Our technology, our proven capability to configure and deploy solutions rapidly, and our unique ability to continuously improve our applications and grow with our customers are the reasons we are becoming the vendor of choice in the nuclear industry," said Robert W. Felton, DevonWay founder, president and CEO. "We are enabling the industry to achieve new levels of excellence and regulatory compliance at by far the lowest total cost of ownership."

Other companies have been at the receiving end of investments from venture capital firms. LS9 announced that it had gotten $30 million in funding from BlackRock, one of the largest VCs in the country.

Proper financial records and bookkeeping is vital for every small business. If mismanaged, budgets can become disorganized and lead to future financial issues. Entrepreneurs that practice intelligent bookkeeping are unlikely to experience these issues and enhance their revenue.

Correct bookkeeping offers a clear outline of incoming revenue, but it also allows small business owners to forecast future budgets, determine what areas of the business will grow or contract, analyze inventory and prepare a small business for tax season, according to Bookkeeping.net.

"Bookkeeping is important for all companies; however, solid bookkeeping is especially crucial for small business. This is true for daily operations, annual tax time and everything in between," said Kendra Hamilton, a public relations specialist at Bookkeeping.net, in a press release.

Additionally, the practice has added importance when entrepreneurs seek lending. Poorly managed books will decrease the likelihood of funding and can place a small business on tenuous footing. Keeping these factors in mind should motivate entrepreneurs to correctly handle their financial records.

Branding and name recognition can offer entrepreneurs an advantage when it comes to staying head of the competition. In an economy where consumers are watching their dollars and revenue may be harder to come by, descriptive and informative branding can lead to success.

A lack of branding can lead to poor understanding of one's services and a possible loss in revenue. Conversely, a sharp branding and marketing campaign provides wider reach and a possibly broader customer base, writes AllBusiness.com.

Choosing an eye-catching, memorable logo will help consumers quickly identify a small business. That image alone could be the item that triggers consumer recognition of a company's strengths and services, as well as recall the business as a local leader.

"This isn’t just, 'What kind of web site do we want to be?' This is 'Who are we?'" says Harley Manning, vice president at Forrester Research in Cambridge, Massachusetts said of picking a logo. "It’s succinct. It’s typically something that will fit on a page easily."

Branding and corresponding marketing efforts such as e-mail campaigns, signage and online exposure, can be the difference between a successful business and a failed one.

For those looking to form an LLC and are in the market for a commercial loan, Associated Content contributor Tracy Jacobs recently compiled guidelines to help navigate the process.

Because there are so many options, Jacobs first suggests talking with a lender to find out about the steps involved in getting a commercial loan, the time frame involved and the types of loans and rates available.

Business owners should make sure their personal credit is as close to flawless as possible, because it will be a big factor in receiving a loan, writes Jacobs. An individual's debt-to-income ratio will give lenders a sense of his or her financial stability and ability to pay on time.

Providing two years of tax returns, both personal and business, and at least the last month of pay stubs at the time of application will speed the process along. Also, potentional borrowers should have the documents ready for whatever they plan to use as collateral, Jacobs explains.

Finally, Jacobs suggests signing a commercial guaranty, which affirms that an individual guarantees to make all payments on time and that the loan will be paid.

Allbusiness.com also suggests checking with the U.S. Small Business Administration to see what loans it can help with. 

Building a sustainable business is key to business strategy for those seeking to form an LLC during these economically challenging times. Aron Cramer and Zachary Karabell recently offered a summary of their book Sustainable Excellence: The Future of Business in a Fast-Changing World to the Huffington Post in order to help entrepreneurs learn how to last in this economy.

Because the world is currently in a state of constant change, the authors encourage business owners to "think big." The big issue Cramer and Karabell focus on is increasing sustainability. Companies should use their attempts to solve "the big question" they have chosen to drive innovation, they say.

The authors don't want business owners to hesitate when it comes to collaboration because this can lead to tremendous growth. Collaboration does not have to occur only with other corporations, but also with the consumer. Cramer and Karabell want entrepreneurs to "make consumers [their] partner[s]."

The authors emphasize careful consideration when choosing the type of incentives used to support the project. A recent study by Accenture shows that CEOs faced the following dilemmas when deciding how to approach sustainabiliy: mixed signals from customers on the issue, development of talent, establishing a platform that works internationally and the uncertainty of investor return. Taking those elements into consideration can lead to a strong sustainability platform that will help your company.

After starting an LLC, business owners must ensure that they maintain liability protection. Nina Kaufman offers a strategy to help owners secure their corporations in her small business legal series on Startup Nation.

Kaufman advises that entrepreneurs must treat their corporations as independent entities in order to protect their personal liability.

A corporation also needs to issue stock, keep corporate records, keep corporate funds separate from personal funds, elect officers and directors and maintain sufficient funds.

Maintaining the proper paperwork is essential, Kaufman urges, because a corporation has to officially authorize directors to make decisions, even if there is only a single owner.

Major decisions need to be documented. These include all transactions outside of ordinary business, joint ventures, loans, leases, mergers and employee benefits.

Maintaining good business records has numerous benefits and increases entrepreneurs' chances of success. It allows them to monitor progress, keep track of tax deductible expenses, prepare accurate financial statements and, in case the IRS ever checks in, they will have all of their documents ready.

Business owners who have done the work of filing an LLC should know that now is not the time to become inactive. Instead, they should become vigilant record keepers so their corporations will last.  

Building a brand can be a challenge for those who have recently formed an LLC. Starting a business is demanding, and it can take years to build a positive and recognizable brand image.

Branding is essential to business success. People are constantly evaluating what they will and won't purchase or use, often coming to conclusions in mere seconds. Consider a woman who walks by a restaurant on the street. Chances are, she'll glance at the menu – but she'll decide whether or not she wants to eat there in just a couple of minutes. She probably won't conduct detailed research. She's relying on her instincts about what the restaurant's brand tells her – how expensive the menu items are, the fonts, the graphics and the reputation, to name a few.

A business' brand is determined by everything from its logo to the way its employees answer the phone. Branding is a round-the-clock exercise, and everything that a business owners does can have an impact on how his or her brand is perceived by potential customers. Casual? Upscale? Expensive? Discount? Friendly? Elite? These are all different brand attributes, the things that differentiate J.C. Penny from Nieman Marcus.

Business owners should be conscious of the kind of brand they want to promote, and work to ensure that everything they do is congruent with that image. 

If you have recently started a business or formed an LLC, the odds are good that you're looking to hire. And, since the economy has put many professionals out of a job, you probably have a lot of qualified candidates from which to choose. So how can you pick the best new employee?

Shifting through a stack of resumes higher than a computer monitor isn't easy for any business professionals. Some larger companies use online application processes that parse resumes before they ever hit the boss' desk, but a lot of smaller enterprises can't afford to invest in this kind of technology. In fact, doing so could cause small businesses to miss out on excellent candidates simply because their resumes don't conform perfectly to a specific standard.

Instead, small businesses and LLCs that are looking to hire should focus on taking a holistic approach to applicants. Hiring managers at these companies should look for applicants who will contribute the most to the company – not just those with the most experience or the longest resumes. Small businesses can afford to be more flexible in hiring than large corporations because employees will have more access to hands-on training and perform a larger variety of tasks at businesses with fewer workers.

The first step to finding the right people to work at a business or an LLC is running the right ad. Business owners who ask for what they want in creative, eye-catching ads are likely to see applications come pouring in.

It's one thing to decide to form an LLC – and it's another thing to decide what to name it.

Sorry, Shakespeare, but it turns out that there's a lot in a name. When starting a business, picking the right is of utmost importance. If it's too simple, it won't be memorable. If it's too complicated, people will be confused. A new business can't share a name with an existing one, and, of course, entrepreneurs need to be careful to pick a name that just sounds good.

Successful company names are suggestive rather than descriptive, Entrepreneur magazine writes. It's better to pick a name that evokes an image or feeling than it is to choose something that merely describes the product or services that the company offers. People are highly emotive, and they'll respond to imagery such as "sunshine," "ocean," or "meadow," which instantly recall positive feelings and things.

Another popular approach, the magazine writes, is to simply make something up. Some of the most famous company names were created this way: Pepsi, Exxon and Kodak, to name a few. When businesses start with a blank word, they have a chance to create its meaning. After all, most people don't ask for a tissue – they ask for a Kleenex.

An entrepreneur with some experience is always a good sign for a small business, but finding the right mix of business qualities can help an LLC succeed.

Many small businesses just starting out often try to work out of a home, hoping to avoid rent and other operating expenses, so a business type that doesn't require having a substantial inventory on-hand is easier to manage in the early stages, according to entrepreneur Leran Dahari writing at BetterNetWorker.com.

In a recovering economy, luxury goods or services are not always a safe bet. Dahari recommends a product that people need – and that will bring people back to buy again. He notes that the secret to long-term success is repeat customers.

Many small businesses succeed because they have developed alternative revenue streams – a gas station may also offer a car wash, or a tax consultant may also offer bookkeeping. Opening up new markets with a variety of products or services can help a business survive during tough times.

Sometimes simply offering a second product or service at a location – even if it's a separate business – can improve revenues. For example, a business at a busy intersection can bring in additional customers by renting part of the property for a local farmer's market or a Christmas tree lot.

Entrepreneurs forming an LLC are among a rare breed as a recent survey found that only 6.9 percent of Americans are seeking to start a new business, a drop from 10.6 percent in 2005.

The Global Entrepreneurship Monitor found that there was a slight increase in 2009 among "necessity-driven entrepreneurs" – people who were forced to start a business after being laid off. A similar report by the U.S. Small Business Administration's Office of Advocacy found that America ranked No. 8 among more than 70 nations when it came to entrepreneurial activity.

The figures are driven down by technology, which the SBA report's authors, Zoltan Acs and Laszlo Szerb, say has become a "weak spot."

"[The low scores are] a surprise and a possible cause for concern," wrote the authors. "It is not just that the rest of the world has caught up, the United States seems to have abandoned this sector."

As the U.S. population ages, more people become "risk-averse," which lowers the number of entrepreneurs. Citizens of developing countries are much more likely to personally know an entrepreneur.

The average age of an entrepreneur in the U.S. is 37 years. Most research suggests that older, experienced entrepreneurs are a key factor that determines success.

There are 250,000 angel investors in the U.S. with as much as $50 billion of available startup funds, and for entrepreneurs forming an LLC, matchmaking events offer the opportunity to meet.

Banks and traditional lenders are tightening credit and making it difficult for fledgling businesses to find financing, so many are turning to private investors who often provide between $150,000 and $1.5 million in initial funding, according to Inc. Magazine. But meeting these angel investors can be difficult.

"Most solo angel investors fly under the radar because they rely on other angels and experienced service providers for deal flow," entrepreneur William Payne told the magazine.

Matchmaking events are one opportunity: They give entrepreneurs the chance to make their sales pitch to a gathering of possible investors.

Some business incubators – usually funded in part by local development organizations – offer a "business bootcamp" for entrepreneurs that provides seed funds and development assistance in return for a small share of ownership.

The U.S. Small Business Administration sometimes holds "speed dating" events to bring together entrepreneurs and investors. The events are usually sponsored by the local SBA development centers and are an inexpensive way for business owners to meet with local investors, developers and venture capitalists for a few crucial minutes.