The Complete Startup Guide for your Independent Business

Maria
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Read Time:4 Minute, 39 Second

Starting up an independent business is a dream for so many people worldwide. Most people know the struggle of having to do everything that your boss asks you to do, even if it involves long weekly working hours, staying later than you were meant to, and completing tasks that you don’t want to. If you have your own independent business, then all of these issues go out of the window as you’re allowed to work the hours that work for you and you can delegate the jobs that you don’t want to complete to your employees. This gives people much more freedom than they would have if they were an employee which makes it appealing to so many people. The only reason that most people who dream of having an independent business don’t have one is that it’s a lot of work to be successful. To be able to run an independent business you need to have an in-depth knowledge of many areas including legal issues, finance issues, sales and marketing issues, and human resources knowledge. Whilst there is a lot to learn to be successful, in recent years more people than ever have been able to start up their own independent business and start living the life that they want to live. We’ve created a complete start-up guide with the best advice for you if you want to start up your own independent business.  

Prepare Yourself for the Workload

Starting up an independent business is no easy task if it was everybody would do it. In the initial period of setting up an independent business, there will be so much work for you to do, including some things that you’re probably not yet aware that you’ll need to do. It will take up a lot of your time initially and it’ll also be really expensive so make sure you’re aware of the situation. Some things that you’ll need to consider when starting up your independent business is you’ll have to have raised enough capital prior to finance everything the business does, and you’ll need the right balance of money invested in assets and cash flow as cash flow issues can destroy a company. You’ll also need a great idea and a unique selling point for your business, you’ll need to find some great employees who suit your business, and you’ll have to get your business out there to potential customers. Whilst it is a lot, it is doable as long as you have a solid plan for the future of your business and can manage your time well to deal with all the work you’ll need to be doing. 

Register your Business as a Corporation or an LLC

If you start your business as a ‘sole proprietorship’, this is a big risk as it holds you liable for any debt that the business incurs which can put you and your personal assets at risk. You should always form your business as a corporation, there are several to choose from. The most popular is an S corporation as this type of corporation is the best option for great tax treatment. A-C corporation, this type is what most investors look out for, so this is great if you’re trying to raise capital and a Limited Liability Corporation. Luckily, it is cheap and easy to register your business as any of these corporations. This is a great first step in protecting yourself but there are some additional actions you should take for additional security. You should always use the corporation’s name on any documents as this clearly highlights that you and the business are separate entities and should be treated that way, this also applies to signatures. In addition to this, you should keep all funds separate, taxation separate, and any corporation transactions should be completely separate from your individual transactions.  

Name and Website

Picking a name for your business is a really important decision as it helps to form people’s first impression of the business. Choosing a business name can be tricky as there are many rules associated with what you can call your business, the whole list can be found online. Legal issues aside, it is also important to choose a name that is consumer-friendly. You should never pick a name that is difficult to spell or pronounce as this will put people off shopping with your business, and you also shouldn’t pick a name that could potentially limit your business as it grows. The best thing to do is to narrow your choice down to 5 potential names and test the name with a focus group, with potential employees, with partners, and with potential investors. Whichever name gets the most positive response will likely be the best name for your business. 

Having an amazing website is vital in our current society as any potential investors or clients will check for a website first and this will massively impact their first impression of your business. Knowing your website will be looked at is great as it’s another way for you to demonstrate the value of the business. Web design can be difficult if you have no experience in it, but as it is so important, we believe it is definitely worth outsourcing the work and there are some great options for web design in Manchester to have a killer website made.  

Maria

About Post Author

Maria

Maria was always a peoples’ person so she thought why not make a career out of this? So that’s how thenina was born!
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The Business of Medicine: How American Hospitals Work

Maria
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Read Time:3 Minute, 27 Second

America has always viewed itself as the leader of the western world. It asserts that it is at the forefront of technological innovation, sociological trends, and ethical treatment. This is far from true. In fact, the only areas America is number one in is Nuclear weapons and Guns.

The area we want to look at today is one area that is very controversial around the globe and that is the American health care system. As you most likely know, America does not have free health care. Quite the opposite. In America, you get charged for everything. Even if you are put in an ambulance after an emergency. You are charged for it.

Today we want to take a look at how the American Healthcare system works in terms of it being a business. We will examine how Hospitals secure their drugs. How patients pay for treatments. And why healthcare isn’t free.

The Issues

It would be irresponsible to talk about all this without first addressing the issues that come alongside having health that is as expensive as America’s. Studies are unable to predict just how many people die every year because they didn’t go to a hospital when they needed to simply because they knew they couldn’t afford it.

Turning healthcare into a product has meant it is sealed off to those who generally need it most. This imposes a real threat of death upon a lot of Americans. Many people develop extreme anxiety over the prospect of getting sick, but this is made worse with the financial implications piled on.

The Patients

So how does an American Hospital work in terms of fees? To put it simply it functions the same as, say, a plumber or an electrical might. They perform a service and then present you with a bill. But this is more of a scam than most people realize. A lot of things you might think are free, such as the use of the beds and ambulance usage when being transported, actually cost you. And they can cost quite a lot. They even go as far as to charge a mother to hold her own child.

Patients have two ways of settling up these bills. They can pay them directly or, more commonly, they are handled by a person’s health insurance provider. This works just like any regular insurance. Once the bill is received the insurance company will pay all of it. In return, you make regular payments to the insurance company. Of course, health insurance in America is expensive. Many people take specific jobs simply to get health insurance as a working perk.

The Drugs

In countries like the UK, hospitals are all part of one organization. And this organization gets its funding from the government and the tax-payer. So it is also the government that buys the drugs the NHS needs. They also get their supplies from distributors such as facemedstore.com. The supplies are bought to be distributed to the entire hospital network.

In America, each hospital has to make its own purchases from big pharma companies. This is why you see a lot of American hospitals using experimental or less heard of drugs. Big Pharma makes a killing off selling drugs to a hospital in the same way someone would try to upsell you a new car.

This has a knock-on effect that hospitals in poorer areas are unable to afford the drugs and supplies they desperately need. This creates a system where, again, those who are most vulnerable and in need of these supplies cannot get them. While the rich and powerful have unlimited access.

Why Does it Cost

The simple reason that American healthcare isn’t free is that America is the center of capitalism. It is a country run by the operations. Laws and made and changed off the backs of cooperation donations and lobbying. And as long as there is money to be made from hospitals, it will be a long time before we see free healthcare in America. It’s a sad truth of the western world.

Maria

About Post Author

Maria

Maria was always a peoples’ person so she thought why not make a career out of this? So that’s how thenina was born!
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Why Now is the Time to Retrain as a Mortgage Broker

Maria
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Read Time:3 Minute, 33 Second

It can be soul-crushing to spend many years learning and training in a specific field only to find your passions for the said field has started to fade. It’s an age-old story. People change as they grow and slowly lose interest in many things they once loved.

We are lucky to live in a time where education and information are so readily available. And some nations are kind enough to even offer this education for free. So it isn’t all that difficult to change your chosen profession. All it requires is a bit of time commitment and courage.

Today we want to present to you the case of why you should consider retraining as a mortgage broker. We will explain what a mortgage broker actually does and why it could be the right job for you.

The Job

If you are lucky enough to be a homeowner then you were most likely tod that you should find a good mortgage broker when you started looking to apply for a mortgage. The title of the job should explain what a mortgage broker does quite well. They are the person who brokers the mortgage deal for you.

Mortgages come with a lot of legal paperwork and red-tape to wade through. It is a time-consuming process having to sift through it all. A mortgage broker essentially does all the heavy lifting for you. They communicate directly with the loan giver, be it a bank or private firm. They negotiate interest rates and repayment schemes.

Why Now Is The Time

You might be wondering why now is the time to think of retraining to be a mortgage broker. By all accounts, the housing market has seemingly been on a decline for a while and the global pandemic has halted people from buying and selling properties with much ease.

But we have seen a strong pattern that, after long periods of forced isolation in one area, people tend to look for a change in scenery. And we have also seen that whenever the housing market starts to fall, it eventually rises back in force.

So now is the time to re-train as a mortgage broker. Once the pandemic is mostly over there will be swarms of people looking for a new home. Someone needed a change of scenery. Others have sadly split from their old roommates. Others will finally be taking that plunge and buying their first home.

So there is going to plenty of demand for a good mortgage broker. And those already in the field stand to make a killing. Mortgage brokers also have the added bonus of not being entirely subservient to the housing market.

Variety

A mortgage broker is essentially a middle man lawyer. You will need a solid understanding of economics and economic law, alongside building and homeowner laws as well. But all of this knowledge means that even when the housing market is slow and there aren’t many buyers around, you can turn your talents elsewhere.

Mortgage brokers often dabble in other areas of law concerning houses, loans, and disputes that generally revolve around the real-estate division. A good example is disputes between banks and the people who have a mortgage with them. In this instance, a mortgage broker can act as an intermediary or even help one side with their legal troubles.

They are also often called to help settle contracts when people are looking at renting a property rather than buying. They can help both the landlords or the renters in cutting through all the legal paperwork. And mortgage brokers have been known to help those in real-estate development.

Re-Train

Re-training as a mortgage broker will take some time. Unless you have a legal background already it may not even be worth it. But if you have some experience in economics, law, and real estate, then you should look into it. There are a few places that offer a specific course. But mainly you just need to get trained up in the specific areas of law related to it and then find a firm to hire you. Once you are hired you will receive more in-depth training.

Maria

About Post Author

Maria

Maria was always a peoples’ person so she thought why not make a career out of this? So that’s how thenina was born!
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