Should I choose a 401(k) or Profit Sharing Plan
[fa icon="calendar'] Jan 12, 2014 12:00:00 AM / by Benetrends posted in 401(k), FICA, General, Medicare taxes, Profit Sharing Plan, 401(k) contributions, Benetrends, employee contributions, new business
Since 2008, the credit crunch has made it more difficult than ever for entrepreneurs to access credit. While lending is loosening, entrepreneurs are still having a difficult time getting funding to start or recapitalize a business. It’s safe to say we are never going to return to the lending environment where you could obtain the “Ninja” loan –No Income- No Job – No Assets.
There are two main purposes for writing a business plan. First and foremost, a business plan will serve as a guide during the life of a business, with the understanding that it will change and evolve over time. Second, a business plan is generally a requirement is you are seeking a loan,. which provides detailed information to potential lenders on all aspects of the company, both past (if you are buying an existing business) and future projections.
For nearly 35 years, Benetrends has been at the forefront of making dreams of business ownership a reality. Whether it's our signature program, The Rainmaker Plan®, SBA loans, securities backed line of credit, or equipment leasing, Benetrends has the solution for you!