What is INC?

If you want to open your own company, the first thing you should do is to decide what kind of legal structure your company is going to have. INC is one of the options. Would you be better structured as a limited company? The more you know, the clearer your options will be.

What is INC?
Incorporation is the formation of a new corporation (a corporation being a legal entity that is effectively recognized as a person under the law). The corporation may be a business, a non-profit organization, sports club, or a government of a new city or town. This article focuses on the process of incorporation; see also a corporation.
INC stands for Incorporating and when a company has the letters “Inc" after its name, it means the company has been incorporated.

Your company also can use:

• Corp. - If a company uses it, then the company usually is incorporated, but may not be.
• LLC is an abbreviation that means the company is a limited liability company.
• Co. is an option that simply states the business is a company, and it may not be incorporated.

Why your company should be incorporated?
Incorporated company means that the company formally designated itself as a corporation under the laws of at least one state. The incorporated company must follow all laws pertaining to corporations. Inc. means that the company is set up for success with a solid legal basis.

P2P. When lender and borrowers meet

Business owners don’t let money to be static. They invest, earn, spend it. Finances always are in movement. One of possibility to invest and take a loan is Peer-to-Peer.

P2P lending (also known as social lending or crowdlending) is a method of debt financing that enables individuals to borrow and lend money without the use of an official financial institution as an intermediary. Peer-to-peer lending removes the middleman from the process, but it also involves more time, effort and risk than the general brick-and-mortar lending scenarios.

Take a look on video from Mauldin Economics to find some facts

Traditionally, business owners submit applications for the loan from bank, funds or are looking for investors. With P2P loans, you can invest in borrowers with good credit ratings and bad credit ratings.

Some countries has P2P platforms when one side can find other side. Platforms connect the public to businesses in need of funding.

Forbes says that P2P lending takes 2nd place in a list of the best investments to make in 2018.

Some advantages of Peer-to-Peer lending are

• Easy, fast online application process and easy to open an investment account online

• Lenders can be individuals or organization

• Lower interest rates compared with banks

• Loans available for most of your needs

• No hidden fees in monthly payments and fixed interest rate

• No prepayment penalty if you have possibility to pay off the loan earlier

• You don’t have to provide collateral such as house or car. Loans are unsecured.

• The initial investment is low

• You can invest in many loans because number is not limited

• You can reinvest the payments you receive or withdraw the funds from your account

Have you ever tried P2P lending?

Is Franchising right for you?

Many businessmen are looking for better option of business grove. There are many possibilities and one of it is franchise.

 Franchise is an authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities, for example acting as an agent for a company's products.

Arrangement where one party (the franchiser) grants another party (the franchisee) the right to use its trademark or trade-name as well as certain business systems and processes, to produce and market a good or service according to certain specifications. The franchisee usually pays a one-time franchise fee plus a percentage of sales revenue as royalty, and gains

1. name of company will be recognized immediately, 
2. tried and tested products with built-in customers for region, continents or even all over the world,
3. standard building design and equipment, so you do not need to waste time on details and save budget,
4. support in running and promoting the business at the time of starting the business,
5. ongoing help in promoting of the service or product,
6. detailed instructions and control too,
7. ready training of employees.

Franchise often is fitness clubs, beverages, children's services, television shows, hotels.

According to Franchise Direct, the most popular Global Franchise is McDonald's, KFC, 7 Eleven (store), Burger King, Marriott International (hotel).

When you choose to start franchise business,you need to be sure that you want to follow specific rules and want to choose this type of business. Maybe, you need some advices, consultations from specialists to see all advantages and disadvantages before you make a choice.

Don't be shy to ask because it is your future.

What is limited liability company (LLC)?

Limited Liability Company is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.

Limited liability feature is very similar to a corporation.
A feature of the partnership is the availability of flow-through taxation to the members of an LLC.


LLC disadvantages
An LLC has to be dissolved upon the death or bankruptcy of a member
An LLC may not be a suitable option when the objective of the founder is to eventually become a publicly listed company.

What do you need to start Limited Liability Company?

Select a state
Select a suitable state where you believe your company will grow huge. Confidus Solutions has a list of states you can choose from - http://www.confiduss.com/en/jurisdictions/

Name your LLC
Naming your company is a responsible task to do because your company reputation will be known by that name. Choose smart and ask for advice to anyone you know.

Choose a Registered Agent
Corporations and LLCs must have a registered agent in each state where they are registered to do business.

File the Articles of Organization
The process for filing this document differs by state, but the requirements are usually about the same.

Create an Operating AgreementOperating Agreement is similar to Corporate Bylaws in that it documents the operations of the LLC. It outlines routine activities, member information, member duties and more.

What is a partnership and what are the types of it?

What is a partnership?

A partnership is a business which involves two or more individuals who share the profits and losses of their business. A partnership is based on a belief, fairness, and mutual understanding and obligations.  

There are 3 types of partnerships:

General Partnership

In general partnership, each partner shares equally their work, ability and all of the profits. All of the general partnership owners are actively involved in the business activities and operations.

You don't have to record with your position and compensate a fee, as you do to launch a business or limited liability company.

Also filing revenue tax come back is easy.

You need to be careful by choosing the right partners in a general partnership, because your partner may have dissimilar apparitions or aims for the business. Also, you may find it difficult to find investors.

Limited Partnership

A limited partnership is almost like a general partnership, but the difference is that a limited partnership must have at least one limited partner.

In a limited partnership, it benefits from a quantity of reimbursement with a limited partnership.

A limited partner is defended from the size of the liability.

Limited Liability Partnership

In this type of partnership, some or all partners have limited liabilities. All partners are not responsible for each other in LLP.

Each associate is in charge only for the quantity of money he has given or guaranteed to the partnership.

Each one of the partners is not "individually accountable."

Which of the partnership do you think is the best?

Get to know the operating environment

If you are considering any country abroad as a new market it is vital to gain a thorough understanding of the operating environment.

So what is important?

Profile of Chosen Country

A first step to gaining an understanding of the political and socio-economic background of the country. Find out some facts that could be suitable for you, for example:

1. languages that citizens speak. Do you already know this language, should you learn it or you want to use services of a translator? 
2. geographic location, a specially if you plan to do export and it is important for the growth of your business
3. Currency and taxes. Think about where would be more profitable to open a bank account.

Lifestyles of Consumer and Their Income

Identifies factors influencing lifestyle choices and reveals who consumers are, what they do and where and how they do it. Find out about how consumers live their lives, their buying habits and what motivates them when making purchasing decisions.In what consumer’s age segmentation are you interested in? What are attitudes towards spending and saving?

Economy

Gain an understanding of the strengths and weaknesses of the economy. Are imports and exports performed well? Be aware of the chief risks of operating in the country.

Business Dynamics

Find a practical guide to doing business, providing a holistic view of the business environment. The answer to questions:
Is it an easy place to do business? What about corruption rate?

The Future Demographic

Look into the consumer markets of the future and understand the impact of changing demographics.

Natural Resources

To help you fully understand how the environment is affecting the supply, demand, and price of natural resources. It also can impact your business lifestyle of consumers.
A detailed review of the city where you plan to set up Your business

Appreciate the dynamics of the chosen city.

You can do such research on your own, find answers to many questions and think about every point in details or trust it to the company.

Advantages of Using Contactless Bank Card

Contactless payments have become so popular that now one in three card paymentsis contactless. It is getting more and more popular in our dynamic world becausepayment technologies have rapidly evolved. Aside from contactless credit and debitcards, you can also make payments using smartphones and smart watches. While using contactless cards, we need not swipe the card in a card reader machine.It works just by positioning the card near the card reader machine. So any physicaltouch is not required between the card and the machine.

• Contactless cards work faster than credit and debit cards.

If you want to look at the numbers, here is where this technology is taking us in our need for speed (average transaction speeds):

1. Contactless credit card transaction: 15 seconds
2. Magnetic strip card transaction: 25 seconds
3. Cash transaction: 34 seconds

• The NFC technology can be linked to mobile phone applications also so that we can move our mobile phones around the card reader machines in order to make a payment.
• Save your time. You also do not  need to take your contactless bank card from wallet.

• Contactless payments use encrypted data and the chip within a credit or debit card transmits a unique transaction number, making it almost impossible for thieves to access or steal your information.  For this reason,it is a safe payment method.

• You do not have to worry about typing errors in PIN code and your bank card would be blocked or abolish by bank terminal.

You need to contact your bank to get your contactless bank card. Could you mention more advantages of using contactless bank card?x
Advantages of contactless bank cards:x