The number one reason businesses fail is due to them not solving a market problem. CB Insights conducted research based on 101 small businesses and found that 42% of small businesses fail due to no market need. Consumers of different goods and services will always have problems, which will always
Can You Restructure Your Business, Changing The Entity Type?
Many entrepreneurs prefer to start up their business ideas as sole proprietors. This is because sole proprietorship businesses are easy to form, less expensive to start up, and require few legal formalities than other business structures. However, as your business grows, a need to restructure the
Women-Led Businesses In Seattle Getting A Jump Start
Kate Isler and Susan Gates founded WMarketplace early this year after most businesses were hit hard by COVID-19. Isler and Gates had worked together 20 years ago at another start-up, and during the summer of 2020, they joined forces and started WMarketplace. The two created WMarketplace from Be
Are ‘Cash Only’ Businesses At Greater Risk For Being Audited?
Some small businesses refuse to take credit cards due to the risk (and wealth) of fees that come with them. Chargebacks being one of the prime issues, where, if you exceed a certain amount, you'll be end up being blacklisted from the credit card company. Additionally, as it's "credit" you can also
Making Decisions and Sticking By Them for Your Startup
Every business starts much the same way; with an idea that someone is inspired to pursue. However, regardless of the necessity of this grand new product, many businesses do not make it past the "startup" point. Of course, this can be for any number of reasons: loss of investor funding or lack of
Business Coaching for Entrepreneurs
There are many factors and conditions involved when it comes to operating a successful business. As an entrepreneur, you're no doubt familiar with the numerous obstacles you face while in the process of building your company. Entrepreneurship is as exciting as it is vexing. It's as the quote
Should You Hire an Accountant or Use TurboTax?
Between January and April every year, many Americans suffer the same dilemma that seems to never be solved; should you be doing your taxes with an accountant or with Turbotax?. This inner conflict is not a new one, and doesn’t have any one definable yes or no answer. The truth, ultimately, depends
What Type of Business Should Operate as a Sole Proprietorship?
A sole proprietorship is undeniably the easiest, lowest-costing entity to form and manage. That said it's not the best option for all businesses, in some cases an S Corp or LLC might make more sense. Here are some of the advantages of a sole proprietorship: Simplicity - This is by far the least