What is the difference between LLC and trade name?
Mar 27, 2023, Posted by : Logan Wells
Understanding the difference between an LLC and a trade name can be confusing. An LLC (Limited Liability Company) is a type of business structure that offers its owners protection from personal liability for the debts and obligations of the company. On the other hand, a trade name is simply a “doing business as” name, also known as a DBA (Doing Business As). A trade name is not an independent legal entity and does not provide protection from personal liability. It is simply a name registered with the state that allows a company to conduct business under a different name than its legal name. In short, an LLC is a business entity while a trade name is a name registered with the state.
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Why is it bad to be 'nice' as a business owner?
Mar 14, 2023, Posted by : Logan Wells
Being 'nice' as a business owner can have negative consequences. It can lead to a lack of clear direction and boundaries, potentially leading to employees taking advantage of your niceness. Furthermore, it can lead to a lack of discipline and respect, and can make it difficult to make tough decisions which may be necessary for the business' success. Additionally, it can create an environment where employees are not motivated to work hard and may be less productive. Finally, being too nice will also create an environment where employees are not held accountable for their mistakes, which can be detrimental to the growth of your business.
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How does a foreigner start a business in America?
Mar 12, 2023, Posted by : Logan Wells
Starting a business in the United States can be a daunting task for foreign entrepreneurs, but with the right information and preparation, it can be done successfully. The first step is to determine which type of business entity is best suited to the needs of the entrepreneur. This may include a limited liability company (LLC), a corporation, or a partnership. Once the type of business entity is determined, the entrepreneur must obtain any necessary permits or licenses from the applicable state or federal government agency. Additionally, the business must be registered with the IRS, and must obtain an Employer Identification Number. Finally, the entrepreneur must obtain any necessary insurance, such as product liability insurance or workers' compensation insurance. With the proper preparation and knowledge, a foreign entrepreneur can be successful in starting a business in the United States.
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