Finance Globe

U.S. financial and economic topics from several finance writers.

Choosing the Right Business Partner

A good business partner can make your life easier.Choosing to go into business with a partner definitely brings some benefits. Shared expenses, shared workload, and shared profit means that you'll be counting on this person. The right partner can help alleviate some sources of stress in running a business. But, the wrong partner can become one of your major sources of business stress.Is your prospective partner a good candidate?Your buddy from college may be a lot...
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Becoming Self-Employed - The Pros and Cons of a Partnership

When you start your own small business, you'll have many decisions to make. One of them will be whether to tackle all the responsibilities of business management as a sole proprietor, or to get some help. Having one or more business partners can alleviate much of the burden that you would otherwise have to handle on your own in running a business. As with any business choice you make, there are pros and cons to a...
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Drawing a Partnership Agreement

Is a contract really necessary?There is no law that requires a partnership to draw up a written contract. The mutual agreement, between two or more people, to run a business together is really all it takes to form a partnership. It's possible that a very simple, straight-forward business with little financial investment may be successfully run without a written contract, but the more complicated your business, the more important it is to get it in writing....
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Understanding the Legal Business Entities

Among the many other decisions you'll have to make when starting your new business, you'll need to decide on your business' legal structure. Before you decide what business entity is best for you, consider the complexity of your business, the financial risk involved in running your type of business, and the tax consequences of each business structure. There is too much information to put into one article about the various business structures, but this is meant...
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Starting the Right Business For You

Starting your own business can be fun, exciting, and scary. There are a lot of unknowns when you venture into self-employment. Many business owners of the past have made an attempt at self-employment, but half of those businesses fail within the first five years, according to the U.S. Department of Labor. Increase your chance of running a successful, profitable business with thorough research about the type of business you want to go into, as well as...
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The Financial Side of starting Your Own Business

The big question many entrepreneurs have is, "How much will it cost to start my own business?" Some have started their own successful business with nearly nothing, and some have needed to use up their life savings or take out huge loans. It all depends on the type of business you plan to run. You may already know what kind of business you want to start, or you may just know you want to become self...
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Is Self Employment Right For You?

You may have considered starting your own business, and if you have, you are probably excited about the prospect of being your own boss. It's the other American dream; self-employment can provide good to excellent income, while you write your own schedule, and make all the decisions involving the operation of your business. But, if you are smartly cautious, you may also be fearful about what the future will hold; being your own boss means that...
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