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    Tuesday, February 1, 2022

    Opening Business Bank Accounts small business

    Opening Business Bank Accounts small business


    Opening Business Bank Accounts

    Posted: 01 Feb 2022 06:23 AM PST

    I am trying to pick the best bank account possible for a small shop and have a few questions!

    1.) Mostly interested in Bank Of America, any thing I should watch out for? What bank do you suggest? (No personal promotions)

    2.) Should I opt for a more physical bank to create a relationship with them in person to make requesting loans easier? Or is the process just as effective with an online bank?

    3.) Any other tips or advice is fully welcomed!

    submitted by /u/Figuringmyshit_out
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    What simple jobs can I supplement my business income with?

    Posted: 01 Feb 2022 04:40 AM PST

    I'm a small business owner and my personal business generates around $1000 net profit per month. My parents own a small business which I work 3 days a week for free to help them out. My business requires 3 days for around 3-4 hours a day to take care of it.

    So I have 3 days with 3-4 hours and 3 other days with 1-2 hours of free time. I have enough money to sustain myself but I would like to be able to put away more money each month than I currently am.

    For those of you in similar situations with side jobs, what simple jobs do you recommend I pick up that are flexible enough for me to work during these free hours for extra cash? I have a noisy environment and the free time is not the same window every day.

    Thanks and good luck with your businesses!

    submitted by /u/doodiewolf
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    Do I need commercial invoice for bulk return of faulty goods?

    Posted: 01 Feb 2022 07:42 AM PST

    Say I sell men's shirts

    I buy 200 from a vendor in China, but they sent me the wrong shirts.

    I am returning the shirts via FedEx on their account, do I need to include a commercial invoice to send back. Since I am not selling them the shirts and only returning them what paperwork is needed for that return?

    submitted by /u/NewModel_NewMe
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    Am I allowed to ask an employee for documentation of his COVID after they return to work from a 3 week absence?

    Posted: 01 Feb 2022 07:33 AM PST

    And if so to what extent while being within legal/ethical boundaries?

    Any help would be greatly appreciated.

    submitted by /u/KLR01001
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    Where to find the best sales people?

    Posted: 01 Feb 2022 06:52 AM PST

    This is for a retail outlet, major household goods. The business currently has 4 employees and we need to double that for a new location. An opportunity has presented itself for expansion and the only real bottleneck is just finding people to show up on time everyday, run a computer, accept payments, schedule deliveries. But we need them to have a lot of energy and be motivated to sell some stuff.

    The people I know tend to be more like engineers and welders. I don't know too many sales people and to be honest I have never cared for that "used car salesman" personality type, but that's exactly what we need. And we could use four of them tomorrow, and them another 12 in 6 months, etc.

    I have no clue how to hire sales people. I am out of my depths here. Any ideas?

    submitted by /u/Thrgd456
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    Online marketing, web design agencies

    Posted: 01 Feb 2022 05:58 AM PST

    Hi everyone,

    I am considering to venture in this area. For those who are active in the field, what do you think it take to be successful in this relatively crowned sector? How did you get started? Any good ressource you would recommend? What is your workflow like? I would really appreciate any color on the industry.

    Thank you

    submitted by /u/wanttosellstufffs
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    Heavy equipment /machinery loans for startup ?

    Posted: 01 Feb 2022 05:57 AM PST

    I have been really trying to find a loan to buy a mini excavator to start my business. I have plenty of jobs waiting and have no doubt that I can make it, but I am finding it nearly impossible to be able to get a loan for the amount that I would need to buy a smaller excavator. I have a good to great credit score and a decent income now, but I'm finding that no banks will loan on used equipment. What are my options here?

    submitted by /u/dataaron65
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    Do I need to establish a separate business or can I combine two ventures?

    Posted: 01 Feb 2022 05:52 AM PST

    I've recently opened a guitar construction/repair shop. I am also about to start playing gigs and shows as a solo musician. Since I'm the sole owner/operator/employee of the repair shop, and the only person running the music side of things, can I operate as a musician under my guitar business to make finances easier?

    I guess technically what I would be doing is expanding my business to include managing musicians and hiring myself as the sole artist. Is this a legitimate plan? If it would put me in a grey area, I'd rather stay legit.

    The big advantage would be the ability to write off my equipment and gear as business expenses, which as I understand would be fine if I created a separate LLC, but I'm not sure if this could be combined with a "guitar manufacture and repair" business. it would be much easier to keep track of finances if I could lump them together under the same bank account, at least at the beginning of my "music career". Thanks!

    submitted by /u/dukeslutherie
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    Loopholes for non compete clause

    Posted: 01 Feb 2022 04:43 AM PST

    Hello all, I am currently trying to open my own business and ran into an issue with my employer that has made me pause on pursuing my dream. I fix medical equipment and wanted to go independent but realized I am in a non compete for 24 months after termination. I am not quite financially stable enough to float for 2 years meaning I can't leave my job at the moment, so was wondering I anyone had suggestions around this? Was thinking 1099 work but wasn't sure if that would be similar Any advice is appreciated

    submitted by /u/SaltyGas1592
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    Can I apply for EIN by telephone, if I am not a US resident & have company in US?

    Posted: 01 Feb 2022 04:14 AM PST

    I am a Non-US resident & have registered a company in Wyoming, US. Can I apply for EIN by telephone?

    Also, how long will it take to receive EIN?

    I read info on here - https://www.irs.gov/businesses/small-businesses-self-employed/how-to-apply-for-an-ein

    But not sure if "International Applicants" means international residents or organizations registered outside US.

    submitted by /u/SamLovesNotion
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    Is it not shady to divert business to your other business?

    Posted: 01 Feb 2022 03:52 AM PST

    Let's say your friend has a trucking business with you (2 partners total) and a separate trucking business with other partners (5 partners total). Your friend comes across a 10K deal. He can give it to the trucking business y'all have together and make 5K each or give it to his other business for 2K each. Would it not be a conflict of interest or at the very least shady if he gave the contract to the business with 2 people because he'd make more essentially screwing his other partners out of 2K?

    submitted by /u/caramel_bulldog
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    Feedback on face or at the back?

    Posted: 01 Feb 2022 03:45 AM PST

    Do u prefer feedback given right on face or feedback given to your seniors and they convey you the feedback? I prefer right on face straight. What about you?

    submitted by /u/BizDemia
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    Subscription box for the 3D Printing industry?

    Posted: 01 Feb 2022 03:44 AM PST

    What do y'all think about a subscription box centered around providing either replenishment items etc for people who own 3D printers? Anybody in here who has a 3D printer have any suggestions or pain areas that y'all would like solved?

    submitted by /u/swerrrrvoooo
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    How do you not take feedback personally?

    Posted: 01 Feb 2022 03:39 AM PST

    We always here and know that feedback should be taken positively and not personally. But how hard is that? Can be truly not take it personally? On what occasions do we take personally?

    submitted by /u/BizDemia
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    Could you share media/blogs about business/tech/design that you like? Looking for not-super-well-known but high-quality outlets ��

    Posted: 31 Jan 2022 11:45 PM PST

    Would appreciate if you recommend media your community and you read, like, and respect!

    submitted by /u/elizabeth_dmitrieva
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    AI/ML/VC solution for defining volume of object.

    Posted: 01 Feb 2022 01:54 AM PST

    recently we faced with a problem – we need to collecting data of object (volume) to understand how much volume it takes and depends on it we choose how to transport it then.

    But counting every object takes a lot of time so we are looking for solution, which can help to optimize this challenge.

    We want to use cameras/drones and tool (something like AI/VC) to collect this data. Do you know how we can solve this problem? some tools of services, or any other advice. Have you faced with this problem?

    thank u!

    submitted by /u/Impressive_Chef557
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    Software to track inventory and cash flow

    Posted: 01 Feb 2022 01:20 AM PST

    Hi

    I'm about to start a business selling second goods.

    I'm looking for a software to track each item for cost and sale.

    However some of the ones I've tried I have to Input the item when I buy them then input the info again when I sell.

    Is there any software that when you sell the item and you put the sale through the system you can select the item that is in the system?

    Hope this makes sense

    Many tanks

    submitted by /u/jonconnorjp
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    What are some of the reputable Wyoming/US registered agent services?

    Posted: 01 Feb 2022 01:05 AM PST

    I am a non-US resident, planning to setup a Wyoming company. I researched about some services, but they seem quite expensive.

    1. What are some of the reputable registered agent services? (Cheaper the better)

    2. And, have you personally used them?

    Thanks in advance!

    submitted by /u/SamLovesNotion
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    PoS/Loyalty system for Small Business with 100-150 Retail SKUs?

    Posted: 01 Feb 2022 12:52 AM PST

    Hello Everybody

    Our small business has roughly 100-150 SKUs to maintain, and we're looking to develop a loyalty program for our store. I'm not opposed to onboarding a new POS system to accommodate a loyalty program.

    Key points would be allowing customers to pool points to either use for purchase discounts or spend on custom offers. Ideally some sort of app functionality would be key, or way for customers to keep track of points/rewards.

    We have our own payment processor, as well as hardware in place at all of our payment stations. Firm on using software as opposed to web based, and prefer not to deal with touch screen pads at least on our end for inputting transactions. We've looked at Square and Shopify, however they seem to be pretty set on an all in one solution (payment processing, hardware, etc.).

    Right now we are on a very old POS called Keystroke which is a very basic inventory management system with barcode scanning capability and essentially functions as a calculator. We cannot integrate at this time with Keystroke.

    Any suggestions on where to go from here? At the end of the day we just need something simple so customers feel like they are getting an added bonus for shopping with us.

    submitted by /u/RyanBCS
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