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    Monday, November 22, 2021

    Why Do Small Businesses Fail? small business

    Why Do Small Businesses Fail? small business


    Why Do Small Businesses Fail?

    Posted: 22 Nov 2021 04:34 AM PST

    1. 79% start with too little money

    2. 78% do not have a fully-developed start-up plan

    3. Little research on the market, type of work that needs to go into starting a business, and making the right connections

    4. 70% do not accept that they can't do it all and need help from others where they lack.

    What else would you add?

    submitted by /u/buyandsellabusiness
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    Can privately owned e-mail account harm you or your LLC?

    Posted: 22 Nov 2021 06:44 AM PST

    This week I'm most likely be forming LLC and wondering if it makes any difference if I'm gonna use email account registered on me personally or it's should be registered already on my organization, can this have any implications?

    During the email hosting registration process I have an option to choose if I'm a private person or organization, they ask for first and last name as well. When registering my LLC I will be using registered agent therefore I want to make sure I'm not doing myself any harm and exposing myself with something simple like this email account.

    The reason I'm asking and sort of rushing with it, is because of a early black Friday deals that are already starting?

    submitted by /u/No-Race8789
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    So I filed for my LLC and …

    Posted: 22 Nov 2021 08:00 AM PST

    I'm located in Florida I am starting a pop up coffee cart in January. I filled for my LLC got it paid I received three, separate official looking documents that state I need to pay them to get my "labor law poster" of which I won't fucking need because I'm the only employee. Are these ad's I thought I just needed my LLC and my EIN number?

    submitted by /u/cortado_papi
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    Who is responsible for equipment failure?

    Posted: 22 Nov 2021 07:33 AM PST

    The company I work for purchased a brand new box truck this past summer. The truck doesn't come with a lift-gate installed so they subcontracted a lift-gate company to install it prior to us receiving the truck.

    Fast forward to last month and the lift-gate has now failed twice within a 1 month period and resulted in us having to rent a box truck for 4 weeks total now ($1500/week it's costing us). The first time they "fixed it," it was a wiring issue, and now it's having the same problem.

    We're pissed. We've been trying to get a copy of the lift's warranty but they're not cooperating saying that the truck dealership should be responsible, and of course the truck dealer is saying the lift people should be responsible.

    Wtf do we do? Do warranties usually cover cost of rentals? This is some bullshit.

    submitted by /u/CerealandTrees
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    Should I Have Taken The Job?

    Posted: 22 Nov 2021 09:12 AM PST

    I've been working on my own SEO business for over 2 years now and things have been going at a slow pace but I'm still happy with my current lifestyle and I've really been able to make a difference with 5-6 clients that I have every month; however, the other day my employer gave me a call last night asking if I would be interested in a full-time position at their company again. I can't lie the offer was a little tempting as it was a promotion from my last position and on top of that, it was a nice level of both pay and benefits which could be useful if anything were to happen to me in the future (god forbid) but I ended up declining.

    She had asked me why I wasn't interested and I explained to her that I love what I do to much and honestly owning my own business has given me a renewed level of both concentration and motivation to get through the day because every day is a challenge and something different; whereas, when I was working at that job I felt like a robot completing the same task day in and day out. It was mindnumbing and my life felt like it was on a loop. Now things have changed I've seen success as an entrepreneur all be it not the most success but even the slightest sliver has shown me that I can make it. I posted this just to remind all of you out there to keep pushing and that salary is used to keep you from your dreams I turned down a job at my old company to keep pursuing my dreams of becoming an SEO expert and if that doesn't motivate me I don't know what will.

    submitted by /u/Jusgil24
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    (Wisconsin) Which county should sales tax be paid to in this situation?

    Posted: 22 Nov 2021 08:49 AM PST

    I work for a steel supplier. We order steel and deliver to local businesses. Our shop is in county A and is where most of our business takes place. We have a customer that operates out of county B but has material delivered to a location in county C. Which county should the sales tax be applied in for this customer?

    submitted by /u/Aeriodon
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    Square or Clover (or other POS System)

    Posted: 22 Nov 2021 11:00 AM PST

    Hello r/smallbusiness and all owners!

    I have my own business in Western Canada and I have been wanting to change/upgrade my POS system for over a year now.

    When we had to close in early 2020 due to the pandemic, we were broken into and the person stole the ipad we used as our POS system. The ipad in question was from the company directly I believe (the previous owner purchased it and I had switched to a different POS company) so there wasn't anything I could do to get a replacement from them. I do have insurance, but I would of had to pay just to get money back for an ipad, which at the time I couldn't do.

    So as a temporary fix, I bought a cheaper tablet to make due but since then we haven't been able to print out receipts properly and overall it's just been messy.

    I have a debit machine terminal with by bank and their fees are crazy. I also heard that they have recently gone up but I've been so busy with my shop that I really haven't had much time to sit down and follow up on anything.

    There will always been good and bad with any company you choose. For me, I like the idea of Square because they offer their own POS operating system (I currently use Shopkeep/Lightspeed which is great, but if I can get it for free with the hardware, I can save like $80 each month). Their fees right now for Square are the same as my bank (the last I checked, again my bank fees could have increased by now) and Square doesn't charge a monthly fee. My debit machine is an extra $25 a month so I can be spending anywhere between $150-250 a month depending on how busy we are.

    I've seen Clover also pop up a couple times and I am just curious if it's comparable to Square. I know I will have to spend some money to get the new hardware but in the end I will be saving some money monthly, regardless of which I choose.

    Another option would be to just get a better tablet/ipad and change my debit machine to Chase (or another operator) that has smaller fees overall. I've had so many solicitors try to get me to change but again, I haven't had the time to make the change yet.

    I am planning a small reno 'face-lift' to the front end of my shop and thought getting a new POS at the same time would be great.

    tldr;

    Need a new POS system and hardware, Square or Clover (or just a new debit processing company with smaller fees overall and get a new ipad). Located in Canada.

    Thank you!!

    submitted by /u/death-by-pink-rose
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    Where to put e-commerce business address, inventory, and also business license? (USA- Georgia)

    Posted: 22 Nov 2021 04:45 AM PST

    This may not be such an easy question. I am still at a point where my own residential address can move around. I want to start an online sales business for something simple kinda like stationery. Its hard to get a business license for an apt and it can be risky since a neighbor may object to you doing such a thing at that apt address. I could like to move slow and only ship small quantities at a time.. Maybe ~10 a month while I take my time building the game plan.

    I'll have to get a business license some way some how to be rolling legitimately. Waiting on a cheap office is hard to do and usually when you find them they are not really set up for or allow inventory to be there. Do I need to move way out in the countryside where the municipalities dont care what you do?

    I think one thing I can do is use a 3PL(maybe $150 a month for my small quantity) to keep the inventory in another state and just ship things out for me as I would get the orders.... But then Im still up against getting a business license to be legitimate and such. Is this why people put their LLC's in Deleware and places of the likes?

    The business license is intended to be for online electronic shopping sales obviously.

    Any help appreciated.. Thanks

    submitted by /u/Wise_Cut_2543
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    Third Party Websites used for Background Checks

    Posted: 22 Nov 2021 10:38 AM PST

    Hello all, My company is currently going over their underwriting procedures and are looking for options to conduct personal background checks for business owners that would like to use our website (we provide loans for their customers). Has anyone had any success with a 3rd party background check website that they use their business? To clarify, the background checks are for the business owners looking to use our services, not their clients. Any responses are appreciated!

    submitted by /u/testing35
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    Saved up £5000 to start a business, but have no clue where to start.

    Posted: 22 Nov 2021 10:34 AM PST

    Hi r/smallbusiness. I have saved up around £5000 to start a business with, but I have no clue what route to go down. My father said he is also willing to chip in, if I can present a robust, detailed business plan.

    For context:

    20 years old. 3rd year university student (Business/Economics) Currently on a 9-5 (finance) internship, so working hours on this business would be around that. UK based

    submitted by /u/NyikuRamen
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    POS Software Recommendation

    Posted: 22 Nov 2021 06:35 AM PST

    Hello everyone,

    I work for a very antiquated small business in the northeast - we still write out quotes/sales orders/ PO's, etc., and still use a fax machine and scanners to send files. The owner is moving to Florida next May and we need some type of POS software that will allow us to essentially go paperless and allow the owner to see all aspects of what's going on with the business remotely while I run the show up here. The owner wants to do all the accounting from her office in FL. I would like quotes, sales orders, purchase orders, RMA's, etc. to be paperless and I would like to see what products we sold to which customers, which vendor we got them from, the markup, margin, etc. all digitally. That being said, there are only 2 of us running the show so we don't want to spend a ton of money and simple is always better. Can anyone recommend something they use? I appreciate any help!

    submitted by /u/NoBus1909
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    Taxes and employees in different states

    Posted: 22 Nov 2021 10:18 AM PST

    We are a small business starting out. Due to how our service works we can work out of any state, even country. Here's where it gets sticky.

    I was put I charge of finding a CPA. I just don't know where exactly to look for one. We are an LLC registered in Delaware, we currently provide services in different states like Florida, California and Georgia. Oh and Costa Rica. Since I want to make sure we're doing everything right regarding taxes and such I am responsible for finding someone to advise us.

    We also just started hiring people and one lives in Georgia and works in Georgia and Florida. The other one lives and works in Florida.

    Which state should I look for a CPA? Delaware, Georgia or Florida. We currently use virtual offices in Georgia and Florida but are in the process of looking for small permanent offices in those states.

    Any help is very appreciated

    submitted by /u/I-d0nt-knw
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    POS taking credit card payments for a pop up

    Posted: 22 Nov 2021 10:06 AM PST

    Hey all - I'm going to be attempting a bbq popup at a local market spot in 2 weeks.

    I'm looking for advice as far as an easy/quick to use payment system that isn't too brutal on fees. It'd be cool if it had a interface to order off a screen/a hard terminal for ease of payment - but I think I could just do it with my phone as well for the first few events.

    Any advice or input? Thank you!

    submitted by /u/zoochadookdook
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    Help! New, small esthetician business.

    Posted: 22 Nov 2021 10:04 AM PST

    Hello! I am an esthetician and I recently opened a small business. I have absolutely no business or marketing experience and I'm struggling to build a clientele or even reach possible clients. I have an Instagram page that I post to daily, a Facebook page, I've joined and posted in several local small business Facebook groups… any tips or ideas for a struggling business owner? Thank you in advance!

    submitted by /u/Common_Ad4139
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    Funding problem

    Posted: 22 Nov 2021 09:52 AM PST

    I've been a CNA for years and also close friend to my staffing agency. That's why I got some ideas inside the staffing agency. I always study and read ideas on how to have my own staffing agency also studying the licensing and legal things which is not that complicated. I also have co workers that i can hire so recruiting is not a problem for me.

    The only problem for me is the Capital or the fund for the salary of my employees. Nursing homes pay agencies 60 or 90 day period and I dont have enough money to compensate for that 60 to 90 day period for the salary.

    So do you guys have any suggestions for funding or capital loans? I would love to hear any suggestions from all of you. thanks!!🙂

    submitted by /u/ranjopos
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    Reaching More Audience

    Posted: 22 Nov 2021 06:06 AM PST

    Hi I've got a question about how to get the most reach and audience on my Instagram page! I'm following all the peak times for posting and haah tagging but haven't seen much of an increase? Any tips or tricks!

    submitted by /u/primadonna47
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    Quarterly estimated tax advice

    Posted: 22 Nov 2021 09:44 AM PST

    Does anyone have any good tips for this? I'm a solo freelancer full-time and am trying to figure out the best way to estimate more precisely. For example:

    • spreadsheet / Google sheets template(s)
    • software
    • other advice that you've found helpful

    Thanks in advance!

    submitted by /u/ramorgan-01
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    Wax Seal Stamps

    Posted: 22 Nov 2021 09:27 AM PST

    When I was little and I'd watch movies about long ago, (like when Brittain still controlled America old) I always loved watching them seal letters with wax. It looked so satisfying to me. So I found a kit on Amazon and started making them. First I was just putting the wax directly onto the sealed letter & then stamping it. But I wanted a way to keep practicing, keep making new ones, without writing a letter for every single one. I can now make them back to back and save them. Actually, I've decided I like making them so much that I want to start a small business! So I've already begun packaging them. The small business has been an idea floating in my head for a long time now. I started a website called Songbird Crafts, so that I can sell the crafts that women make while incarcerated in the WI DOC system. It's to help them become more financially independent & start giving back to society. All I take out is the money for s&h. When I get the money for their sold item, I add it to their money account. That's going extremely slow, but I designed the site just like 2 mos. ago & I'm slowly starting to get the word out. I can sell my wax seal stamps on that site separately from the other girls. Also, I can sell them at a few local gift stores & I can do custom orders for weddings, showers, Christmas family photos, etc. I will locate some flea markets I can sell them at as well. As the business grows I can add more and more things to sell on the site and at local businesses. I was thinking candles (already bought everything I need for that), soap, trinket trays, charm & beaded bookmarks, spell jars, crystal fairy gardens (my bf can make one amazing terrarium with a custom waterfall and fighting ninjas. I'll have to upload a photo, lol). So the ideas are endless & all the stuff I'm in to (Witchy, apothecary, zodiac & meditation) have huge markets for potential new customers right now.. I just need to find something constructive and hopefully beneficial for me to do at home because I was diagnosed with a chronic illness this year & I have to let the idea of me working a normal job again go. At least for now. I can't be dependable to anyone when I never know when I'll feel well. We haven't gotten my medications and all that figured out yet, it's still pretty new. I'm staying positive though, I don't think I'll feel like this forever. I'm not trying to be a millionaire. I just want to do something I enjoy, pay a few bills, and help other women. But are the wax stamps a good jumping off point? Any thoughts on this epic idea? 💡 🤔

    submitted by /u/AlbaRicci
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    Thoughts on starting a business with a partner

    Posted: 22 Nov 2021 09:02 AM PST

    Hey all,

    A coworker and I are in the early stages of planning a business together. Home inspection. We already have a ready clientele so I'm not particularly worried about making a profit. Based on North Carolina.

    Some questions I have:

    • what type of business should we incorporate as? On the state website I'm seeing LLC, Limited Partnership and Limited Liability Partnership. We're looking to share ownership equally.
    • in a shared business bank account, how do we legally set it up so neither of us can run off with the money, without consequences? At this time we're planning to take equal split of the profit as well as leave some for business expenses.
    • any other important considerations we should think about?

    Just to be clear, I know my business partner well and trust them. Just want to do this in a well thought out way where we both can feel there are safeguards. It will be both of our first times running a small business.

    Thanks

    submitted by /u/TommyBoHangles
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    Woodworking business - write off questions

    Posted: 22 Nov 2021 08:46 AM PST

    Hey everyone, I hope this isn't too much of a rookie question and I apologize if it is.

    I formed a Single Member LLC woodworking business in August. I've had a half dozen sales or so in that time. I have a 9-5 so this is supplemental income for me. I have a separate business acct set up for it and I'm trying my best to make this a legit, viable business. My question is am I able to buy tools and write them off? Is my business too small to write off things? I'm happy to keep researching but I can't find anything that's cut and dried and straight forward enough for me to understand.

    Feel free to check out my Instagram @rauliwood for reference

    submitted by /u/TuckerMetzger
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    How to know if my LLC was approved?

    Posted: 22 Nov 2021 08:27 AM PST

    Hi, I have a bit of a dumb question! I just filled out articles of organization to form an LLC (Michigan) and I am wondering if I will be emailed if it's approved? The form only said I would be notified if something prevented it from being approved. If they don't notify me, should I just keep searching my LLC's name on Michigan's business entity search until it appears? Thank you!

    submitted by /u/NoteEnvironmental819
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    Selling website for a crypto, is it a good idea?

    Posted: 22 Nov 2021 08:24 AM PST

    I have a small e-commerce website, under $1000/month profit and I got an offer from a guy who wants to buy it and pay with crypto. It's a good offer and I am willing to sell it but I would like to check if anyone has any experience with this. Is there something I should be careful with, could I run into some legal problems or anything like that? Any advice would be very helpful. Thanks.

    submitted by /u/brzzvrk
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    Looking for some business advice

    Posted: 22 Nov 2021 06:12 AM PST

    Hey, I've been running my Automotive-merch clothing e-store for almost a year. Finally started to get some orders, at least 3-5 in a month ( Yes that is not a lot, but it's better than 0). Since the niche is quite narrow, I am currently looking to widen it and create another collection for not only Automotive culture fans. I wanted to ask you guys, are there any more tips to attract more potential customers? Here is my website: www.digitusart.com

    submitted by /u/Digitus_Art
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