PPP Forgiveness good news everyone small business |
- PPP Forgiveness good news everyone
- Is running a vending business still profitable?
- Do your friends always want free?
- Please roast me!
- A vendor sent me parts after they cancelled my order
- Help connecting with other Instagram followers
- Social media trends/updates of July you missed
- Would anyone like some free help getting set up with their first business website?
- Tool for video Tutorials
- Food business entrepreneurs– opinions on professional photography
- What's the best course/workshop/coaching you've paid for and What makes it worth it?
- Looking for ideas / suggestions: What to do with ~500,000 Medical Face Shields
- Taking over the family business, how do I pay myself correctly?
- Backup solution for a 5 people office with a very small network
- Do I need a bussiness address to apply for licenses, permits, ein etc? And a few other questions. (ARK, USA)
- Would you pay for an agency to save you money on your opex?
- Praise in public, correct in private - where do you draw the line?
- Other methods than cold calling for a freelancer?
- LLC Filing Tax as C-Corp
- Small business help
- Some friendly advice as a small business owner, explicitly prohibit workplace flirting and relationships.
- Filing Tax for My LLC
- When to start utilizing IG?
- Llc question
| PPP Forgiveness good news everyone Posted: 30 Jul 2021 07:26 PM PDT So, I'm sure I'm not alone when I say my PPP lender isn't responding to me for me to even apply for forgiveness. Well, good news. The SBA is making a portal to fix that problem for everyone with a PPP loan under $150K. the web address is forgivenessdirect.sba.gov It's not open to the public yet, it's currently in "closed beta" but at least the issue is being worked on. I hope this helps my fellow business owners sleep just a little better at night. [link] [comments]  |
| Is running a vending business still profitable? Posted: 30 Jul 2021 02:28 PM PDT A good friend and I are laying out the logistics of starting a vending machine business. We've figured out our costs in way of vending machine purchase, inventory, and fuel expenses. We are aware we'll have to arrange contracts for the space & power our machines would require. Speaking with some local small business owners, we've received multiple opinions that "There's no money in running a business like that anymore." While this has not discouraged us, we would also like to hear more opinions. Do you believe owning & stocking vending machines is still a profitable business? Do you have any advice for us as beginners? Thank you for your time. [link] [comments]  |
| Do your friends always want free? Posted: 30 Jul 2021 11:21 AM PDT I've noticed most friends always have a business related question. The conversation may start as normal, but there is always a twist. What tool did I use. Who's doing my graphics? What web security do I recommend. I felt used for a long time, but the questions are so covert at times. I do not realize people are just fishing. I can not give you my entire business model for free... [link] [comments]  |
| Posted: 30 Jul 2021 11:32 PM PDT I just launched my sustainable activewear store 1.5 months ago (mid Jun) and am looking for feedback on my site/IG page/marketing efforts. Any and all feedback is helpful and greatly appreciated! I've consistently had 1 order/week from strangers (ie not from friends/family) but am hoping to bump that up to 3 orders/week by our store's 3 month mark in mid Sep. I'm currently spending around 330USD/month on FB/IG ads with campaign objective set to Conversions - Purchases. 3 ad sets targeting Singapore, Female. Each ad set targets one of the following interests: Lululemon, Sustainable fashion, Activewear. All 3 ad sets are doing about the same performance-wise (about 1 order attributed to each ad set) so I've not killed any of them.. I know gaining traction takes time but always open to ways to improve to help move things along. Would greatly appreciate any feedback or advice!! Thanks guys. Website & Instagram page: [link] [comments]  |
| A vendor sent me parts after they cancelled my order Posted: 30 Jul 2021 12:54 PM PDT TL;DR I ordered parts. The company cancelled my order. Months later they sent me the parts when I don't necessarily need them. Should I ask for a discount? Would I need to pay for freight to return them if they sent them to me by mistake? Do I have to pay for them at all? Also, just accept Amex without charging customers the 3% fee. I bought a used machine in March. It needed 2 of 10 consumables that last about 5-10 years. When you buy the part, you send the company back the old one for them to strip and put on new rubber to send to the next customer. This is standard across the industry. I know a salesman for a larger reputable national company who gave me the same price he give to repairmen who resell to customers (30% discount) and up sold me on buying 8 of them instead of 2 because they machine will run better. At the same time, the part company was being bought out by a company, who makes rubber parts for other industries. In the process they were not able to make my parts and all of the old staff including my salesman were let go. The salesman updated me that my order was cancelled and I found someone locally who honored the good price from the other company, although the quality supposedly isn't at the same level. I bought only the two that I needed. My machine is running fine. Two weeks ago we received a pallet that had the 8 parts I originally ordered. The delivery receipt had a note that they would be sending the invoice. I contacted the former salesman. He gave me another number to call which was disconnected. So I decided just to wait for the invoice and didn't open the parts. Today I got the call from the company. They acknowledged the mix up and I agreed to purchase the parts. But when I went to pay, they have a new policy that they charge 3% for using credit cards and I cannot use American Express, which is my company credit card. She countered that even though I am not on terms, I can send a check. I told her that I would call next week. The total is going to be about $1200 after I return the old ones which I have 30 days to do it. Now I'm a little annoyed with having to pay more than quoted. And I will be replacing working parts. I don't think that I want them anymore. My dad says that I need to pay or the return freight if I do not keep them, which will be $300ish. But when I googled that, I saw the FTC says that you do not have to pay for things that are unordered. And now I can get them locally. Has this ever happened to anyone? Should I ask for a discount? Do I have to pay to return them? Do I have to pay at all? [link] [comments]  |
| Help connecting with other Instagram followers Posted: 31 Jul 2021 04:12 AM PDT Hello! I work for a small fitness studio. I'm trying to see what local businesses our followers and target clientele follow so that we can potentially partner up with them and get more exposure. Any suggestions on how to view this easily without having to scroll through peoples account manually and seeing everybody that they follow? [link] [comments]  |
| Social media trends/updates of July you missed Posted: 31 Jul 2021 03:50 AM PDT
Hi, jaskaran here and I am running a Sunday where you will know what happened on social media that week, new tools, content opportunities and much more. If you're interested in all these things? This is for youuuuuuunewsletter [link] [comments]  |
| Would anyone like some free help getting set up with their first business website? Posted: 31 Jul 2021 03:39 AM PDT Morning r/smallbusiness, I'm on holiday this week from the day jobs. For something interesting to do I'm available, if anyone is interested, to set up a WordPress site for a new business or someone new to WP. No strings, will host it on my shared server or vps in my London or NYC racks. Happy to provide advice over plugins, theme and get it set up and ready to move in and start adding your content. No crypto, bitcoin, cbd or anything else dodgy though, because life is too short. [link] [comments]  |
| Posted: 30 Jul 2021 06:47 PM PDT What tools for creating video tutorials would you recommend? I need a tool where I can upload the video recording of a screen and edit some text, audio, probably add zoom and other basic tools. I don't want to download adobe premier or sony vegas as it seems very over kill for the task I have a software business, and we have seen an increase in users, hence people start having some trouble with the usage of certain tools even though we have text tutorials people perceive it as boring. Plus, learning a virtual tool via a video would be a lot easier than just reading and watching images, [link] [comments]  |
| Food business entrepreneurs– opinions on professional photography Posted: 30 Jul 2021 06:01 AM PDT Is it worth it to hire mid-level professional photography to take photos of some of my products, my store and me? What results have you seen? [link] [comments]  |
| What's the best course/workshop/coaching you've paid for and What makes it worth it? Posted: 30 Jul 2021 01:40 PM PDT I'm new to ecommerce and want to improve my company and build a successful brand in the long run. What course/workshop/coaching do you personally recommend and why? Please try to avoid marketing your company here. [link] [comments]  |
| Looking for ideas / suggestions: What to do with ~500,000 Medical Face Shields Posted: 30 Jul 2021 07:02 PM PDT I'll try to keep the background context as brief as possible: I run a small contract manufacturing company that pivoted into medical face shield manufacturing at the request of a local hospital at the onset of the pandemic. We started small, but quickly scaled up to help supply local governments, public school systems across the state, and supplied a substantial amount of our face shields to FEMA as a subcontractor. During this process, we became a fully FDA registered company and our face shields are FDA listed (not manufactured under the emergency use declaration). Because of our pivot, we were able to keep all our employees working throughout the pandemic and ended up supplying over 750,000 face shields to various customers. Demand for our face shields really dropped off when the Defense Logistics Agency took over procurement from FEMA. And orders from our local customers dropped off as restrictions eased up. To be able to supply the large, hot drop demand we were facing, we built a substantial inventory of around 500,000 units, packaged in both 96 shields /box and 25 /box variants. The lowest we could go on moving these shields is $1.60 /unit. Donating them over time to minimize future taxes is my default plan of action, but this isn't ideal as its tying up resources today. At this point my team is about out of ideas. We don't have very robust internal sales capabilities in this space as we're a contract manufacturer in a completely different industry. We've already tried reaching out to more schools and hospitals, but they are currently content with their regular suppliers. TL;DR: I have 500,000 units of fully FDA listed medical face shields that I need to move for at least $1.60 a unit and am running out of ideas. [link] [comments]  |
| Taking over the family business, how do I pay myself correctly? Posted: 30 Jul 2021 04:51 PM PDT Taking over a family business due to unfortunate circumstances. My father has fallen ill and cannot continue running the business, but I know it will be worth it in the long run. I have over 10+ years working there and have no real worries managing and operating. The business is doing great and very profitable. I will have to support my mother and father with the income I bring in and will keep my father on payroll as a employee. My sister, mother, father and I will have shares of the company. I don't know much about the legal business side of things but I know the company is incorporated. There were talks about dividend pay outs split amongst the shareholders being members of my family. Although I don't mind continuing to support my parents and cover their living expenses, the talks about dividends being split at the end of the year makes me think I'll be working my butt off for nothing, I don't believe anybody not putting in work should be benefiting from my hard work especially because I'm already covering living expenses for my parents and my sister has a good job but I think she's trying to gain some kind of passive income through me running the business. What would be the fairest and smartest way to go about a situation like this? I'm thinking I would need to figure out the exact net profits (my father hasn't been transparent about how much he's making) and adjust my salary accordingly but I'm not sure what's the right move. Any and all advice is appreciated. [link] [comments]  |
| Backup solution for a 5 people office with a very small network Posted: 30 Jul 2021 06:44 PM PDT I have a client that has about 7 employees and 5 computers on the network. I'm trying to wrap my head around on what kind of backup solution we can offer him that's inexpensive, but effective for his small network. Currently, there's not a file server in place that they can share files over the network. Every computer/user hosts different files and that's not very effective/secured. We would like to accomplish the following:
Would it makes sense going cloud only and use a service like Onedrive? Any ideas? How would you tackle this? [link] [comments]  |
| Posted: 30 Jul 2021 11:00 AM PDT I've worked and researched myself into a brain fog. From what I gather, those documents require an address in order to file. So do I use my personal address (no right, because I want to open an arcade and Gaming Lounge so I couldn't use my home address), which means I need to get an address/location using my personal then I can apply for the documents? This is a first for me, I got to do something for myself and my family, and the learning curve isn't as bad as I thought. I've gotten quotes and have maintained contact with suppliers for equipment and merchandise, and I have a working business plan I update as I come across new information or corrections. Some suppliers (arcade systems) offer financing and I've been in contact with them for estimates. I just feel like I've been spinning my tires at this point. I don't really know what my next step would be. Or how I can even go about getting the location to get this moving. I've been using SBA resources as well as my city's business page.. Unfortunately like most people, I don't have money and neither does my family. Luckily I've put in some work to get my credit score back from the brink. It's 640 which is still poor but it's better than the 570 I've had since I was in my twenties. I know this puts any loans or investments at a bit more of a risk, and I've been looking into gaining start up capital. I've reached put to a small sample of people (about 200) about the business and how I imagine it working with the community and for my customers and guest. And they all were in general agreement that not only was this a good idea, it was desperately wanted. Only like 15 of these people I've met irl. It made me wonder about crowdsourcing just enough start up to get it going, but I feel weird asking for money so I can make a place for those same people to spend money. I have thought about some options like different tiers of rewards (free play arcade, free event reservations, etc. Has anyone crowdfunded a brick and mortar business, what was your experience? Thank you to anyone who has any advice or tips. I'm a month into this and I know to be patient, but that isn't my forté lol. [link] [comments]  |
| Would you pay for an agency to save you money on your opex? Posted: 30 Jul 2021 05:49 PM PDT Hey all, First post here. I've been testing the waters on a business idea that would serve as your "Outsourced Procurement" department, specifically for software subscriptions. Or, in plane English, we'd come in and renegotiate your SaaS contracts. The goal is to save 5%+ on your existing software contracts. My question is first off, would anyone here want to pay for this (the business model would be based on saving)? Second, is anyone interested in being a guinea pig? Happy to explain more about this over PM. Thanks for reading. [link] [comments]  |
| Praise in public, correct in private - where do you draw the line? Posted: 30 Jul 2021 06:00 AM PDT I have always been a huge proponent of the "Praise in public, correct in private" mantra. Calling people out in front of their peers/coworkers never helps. That being said - we have been having a lot of situations recently that are huge learning opportunities for the entire team. Mistakes that are isolated to one person, but the entirety of the department is likely to make the same mistake if they don't know about it. One of my thoughts here is to create an "Incident Report" that goes over what happens, when it happened, but not specifically call anyone out for the issue. This would get sent to entire department. Is this blurring the line too much between publicly calling people out? [link] [comments]  |
| Other methods than cold calling for a freelancer? Posted: 30 Jul 2021 11:31 AM PDT Hello, I make very fast websites(SPA's) for small local ecommerce businesses and I usually just cold call but I'm not great at it because I'm not a big people person and was wondering what some other ways to market and network would be? [link] [comments]  |
| Posted: 30 Jul 2021 11:07 PM PDT I formed a single member LLC this year. One important thing for me is to separate my personal tax with the LLC tax. It seems that my only option is to choose file LLC tax as C-Corp by filing IRS 8832. I see most folks recommend filing LLC tax as s-Corp by filing IRS 2553 to save taxes. My question is if I file LLC tax as s-Corp, can I seperate my personal tax with LLC tax? It seems to me that I can not. If I file LLC tax as C-Corp, I will be paying double tax because for any income, the LLC pays for cooperate tax and for me, I pay personal income tax? But if I don't get any personal income from the LLC, would it still make any difference between filing as s-Corp v.s. C-Corp? [link] [comments]  |
| Posted: 30 Jul 2021 10:55 PM PDT I opened a small business :( it's hard to get by! It's been over a month not a single follower! [link] [comments]  |
| Posted: 30 Jul 2021 10:56 AM PDT I didn't and now am down two employees. One is a key one, and frankly, it's going to hurt a little financially. Unbeknownst to me, the key employee started seen the less essential employee when he already has a partner and a child with the partner. The partner discovered their texts, and demanded he resigned, which he did. After some prodding from me, he finally confessed about his reason. So I did what I thought was the reasonable thing to do, and let the less essential employee go to try to keep the more essential employee. But this didn't work out apparently (I'm not sure why), so he is resigning again. In the span of a week I lost two employees. I guess learn from my mistake. I should have been clear from the begining. Don't fish off the company pier. It's supposed to be common knowledge, but some people dont have any sense. [link] [comments]  |
| Posted: 30 Jul 2021 09:05 PM PDT I formed a single member LLC this year. I don't expect to be profitable in two years. I want to file my LLC's tax separate from my own personal income. I know that I need to file IRS form 8832 by electing to file my LLC's tax as C-CORP or S-CORP. But my LLC is not profitable. Filing as S-Copr would increase my tax filing expenses. Filing as s-corp is more expensive. But if my LLC's tax is not filed as S-Corp or C-Corp, the only other option for me is to file as sole proprietor which means filing my LLC's tax and my own income tax together, correct? Do I have any other options to file my LLC's tax? [link] [comments]  |
| Posted: 30 Jul 2021 04:40 PM PDT Hello! I'm helping my mom with her business! We plan on launching in October so I'd like to get some buzz going. I've secured and IG account to start. However, because her business consists of products that won't be finished until end of august/early September, I do not know what to utilize for content. Is it best to wait or should I utilize other stuff for content at the moment (if so, what?) [link] [comments]  |
| Posted: 30 Jul 2021 08:14 PM PDT Good evening all, from what I can tell I can try to ask this question here and possibly get an answer. I have one llc setup for one source of income, looking to set up a second for my other source to keep everything separate and protect everything. Question I have is when it'll come to tax time, they will both be in my name. Am I filing Tax returns on those llcs, but also a personal including those on the self employed? Also how would that work for tax deductions from working from home? Both would be different work spaces In the home/property. I can try to clarify if need be what I'm asking. I just don't want to go through a huge headache tax return time I want to have this all organized ahead of time and planned out. [link] [comments]  |
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