Data from multiple sources yields good news when it comes to business ownership. The number of minority-owned businesses in the United States is on the rise. That is good news for those thinking of starting their own business.
Minority business owners face the same challenges as other entrepreneurs – developing a sound business plan, understanding the market and competition, and creating products and services that customers need. However, for many minority business owners, there are additional complexities, challenges … and opportunities ahead in 2019.
When exploring challenges and opportunities for minority business owners in 2019, several issues are evident. Minority entrepreneurs face racism, difficulty in securing funding, and a lack of social capital on which to draw.
Entrepreneurs looking to leverage existing 401(k) assets to start their business have long trusted the Benetrends Financial's Rainmaker Plan® to realize business ownership. With those assets available, business owners have more flexibility in how to start and grow their companies.
If you are considering using 401(k) or IRA plans to finance your new business, you know the power of financing your venture using your own hard-earned cash.
When you want to use the Rollover as Business Startup (ROBS) strategy to fund your entrepreneurial dreams, you will need to be sure you have access to the right types of retirement funds.
Ever since you started working, you have been told to save for the future, so you'll have the means to live in the future. Whether you have a company sponsored retirement plan, are investing in a personal IRA or making regular investments into a savings account, you understand the importance of building your nest egg for the next chapter of your life.
Identifying the right way to finance your small business is an important decision for any entrepreneur. Unless you are sitting on a pile of cash, you will need to go out and secure funds for start-up costs and to keep the business, not to mention your personal life, going until revenue begins to appear.
There are franchises that slowly increase their brand with a few new locations every year, and then there are the franchises that seemingly expand overnight.
We have been very watchful of the tax reform that has been fiercely debated in Washington and was signed into law on December 22, 2017. With the help of our tax partners, below are some of the highlights regarding the reform’s effect on the ROBS business:
How will changes to the SBA's Standard Operating Procedures affect your business in 2018?