The Money Helper

Clearly in this currently failing economic environment the only escape is to become your own boss. There are an increasing number of people searching for a new business opportunities that can either provide an extra income or, support them if their job disappears. Worker feel rightly vulnerable right now, with many employed people predicting that they would find their jobs changing dramatically, or disappearing completely within 1 or 2 years, if not 1 or 2 months.

The good news that there are more options than ever for resolute men and women that refuse to fall victim to the downturn or simply wait for a dysfunctional government to bail them out.

For some, network marketing is a great way to take on an established brand and build a a base of customers and affiliated resellers. Others might adapt their existing skills to opening a business close to what they’re already experienced in or what they’ve dreamed about doing, but never had a push to actually make the change. this could include opening a restaurant, a retail store or even a consulting business. Internet based E-commerce businesses are a great way for stay-at-home parents or technically savvy people to build a new business.

In order to get a new business launched, you will need to register your business within the state you’ll be conducting the business. This DBA (Doing Business As) is considered a business license. You need to register with your local DBA filing office. If you have business bank account you’ll need proof of that in the shape of a voided check, or a personal check, which is not recommended. It’s much better to have a separate business account in order to maintain clear tax records. After the DBA is completed you have to get it published in a local newspaper. It’s an antiquated method, true. But it’s pretty easy and fulfills your obligation to the state.

If you plan to accept credit card payments in your retail store, restaurant, kiosk or online business, you’ll need a merchant account. Merchant accounts allow you to accept all major credit cards and even guarantee checks, if you select that service. The merchant bank handles the payment and deducts their fees before depositing the days sales into your bank account. Over 80% of customers in the US want to pay with credit card, so the ability to accept them is critical to any retail type business.

the bottom line is that you can survive this downturn if you employ the tools of a self-starting business owner. Don’t wait until it’s too late, educate yourself and get ready to make your own fortune.