Published Apr. 21, 2013
Ask SCORE
Our four-year-old printing business is finally on solid footing. We’ve worked hard and
been very fortunate, and now we’d like to begin giving something back to the community. What
types of activities can you suggest?
About the Author
This column is brought to you by the Merrimack Valley Chapter of SCORE, with nearly 70 current and former business executives available to provide free, confidential, one-on-one business mentoring and training workshops for area businesses. Call 603-666-7561 or visit merrimackvalley.score.org for information on mentoring, upcoming workshops and volunteer opportunities. SCORE is a national, non-profit organization and a resource partner of the U. S. Small Business Administration.
In our fast-paced, ever changing business world, the notion of "prevention" – which generally means doing something you don't absolutely have to do right now – often gets lost or set aside. But with so much riding on how smoothly things run at your business, that ounce of prevention can indeed far outweigh a pound of cure later on.
In our fast-paced, ever changing business world, the notion of "prevention" – which generally means doing something you don't absolutely have to do right now – often gets lost or set aside. But with so much riding on how smoothly things run at your business, that ounce of prevention can indeed far outweigh a pound of cure later on.
About the Author
Daniel Kehrer, Founder & Managing Director of BizBest Media Corp., is a nationally-known, award-winning expert on small and local business, start-ups, content marketing, entrepreneurship and social media, with an MBA from UCLA/Anderson. Read more of Daniel's tips at
www.BizBest.com, follow him at
www.twitter.com/140Main and connect on LinkedIn at
www.linkedin.com/in/danielkehrer.
Published Mar. 17, 2013
Ask SCORE
After working for more than 25 years in the publishing industry, the company I worked
for downsized and I accepted an attractive buyout package. Now I’d like to start my own
business. What do I do first?
About the Author
This column is brought to you by the Merrimack Valley Chapter of SCORE, with nearly
70 current and former business executives available to provide free, confidential, one-on-one
business mentoring and training workshops for area businesses. Call 603-666-7561 or visit
merrimackvalley.score.org for information on mentoring, upcoming workshops and volunteer
opportunities. SCORE is a national, non-profit organization and a resource partner of the U. S.
Small Business Administration.
Published Mar. 5, 2013
Choosing Among Sole Proprietorships, Single-Shareholder Corporations And Single-Member LLCs For New Businesses
Choosing Among Sole Proprietorships, Single-Shareholder Corporations And Single-Member LLCs For New Businesses
Q: I’m starting a new business in New Hampshire. I will be its only owner. Should my business be a sole proprietorship, a single-shareholder corporation or a single-member LLC?
About the Author
John Cunningham is a N.H. business lawyer whose practice is focused on LLC law and tax. He chaired the N.H. Business and Industry Association committee that drafted the Revised New Hampshire Limited Liability Company Act, a radical revision of New Hampshire LLC law that went into effect on January 1st. LLCs are, by a wide margin, the entities of choice for N.H. business start-ups.
After 20 years of service in the Navy and an accident while serving that left him 100% disabled, Al Kroell found it extremely difficult to find employment. His wife, Christy, was disabled too and the pair struggled to earn income to support themselves. Luckily Al’s hobby of woodworking, combined with new state-of-the-art technology turned out to be a lucrative business opportunity. ChristyAl Plaques now creates custom laser cut, etched and engraved plaques and gifts.
www.caplaques.com
Squaw Valley
CA
United States
My Successes
ChristyAl Plaques has found a niche market of creating “going away” plaques for military members who are transferred off-base. With 62 bases in the state of California alone and nearly 3,000 transfers at each base every year, it is a sizable target market.
The business turned a profit within its first month. The business was chosen as a winner of the Sam’s Club Holiday Cheer initiative in December 2012, receiving a $1,000 grant and a trip to Dallas to attend a high speed growth marketing workshop hosted by SCORE. Of the workshop, Al said, “It was like winning the jackpot for small business.” Through the session they learned about specifying a target market, trying it out for a period of time and then modifying that target.
What's Great About My Mentor?
Al speaks highly of mentor Peter Fong who worked with the team for over 2 years; “He pushed me along, got me on the ball and told me what I needed to do. The military doesn’t teach you about marketing or running a business but my SCORE mentor did.”
How SCORE Helped
Starting out, Christy and Al found it nearly impossible to secure a loan due to their lack of current income. Their mentor, Peter Fong, helped them to write a business plan that was so professional, clear and convincing that a bank finally approved their application. The loan allowed them to purchase the machinery necessary to creating such a beautiful, high-quality product. Al says he tried other programs aimed at helping veterans transition into civilian life but none were as helpful as SCORE. He says, “SCORE has been there for us. If it wasn’t for SCORE I wouldn’t be where I am today.”
News Release
Published Feb. 8, 2013
Q: What are limited liability companies (“LLCs”), and what should businesses know
about them?
A: LLCs are a new type of business entity that emerged in the early 1990s. They have many important legal and tax characteristics, but the key ones are these:
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Liability shield. LLCs provide their owners (called “members”) with a statutory liability shield that is essentially identical to the corporate shield.
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About the Author
John Cunningham is a N.H. business lawyer whose practice is focused on LLC law and tax. He chaired the N.H. Business and Industry Association committee that drafted the Revised New Hampshire Limited Liability Company Act, a radical revision of New Hampshire LLC law that went into effect on January 1st. LLCs are, by a wide margin, the entities of choice for N.H. business start-ups.
Published Feb. 7, 2013
Ask SCORE
I’ve recently taken my business plan for a new and innovative consumer product to several banks seeking funding, but have had no success. What are some other financing options that might be available to me?
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