I want to transition my 12 years of information services/information technology experience into a consulting business to assist companies with things such as networking, software development, implementation, training, etc. My biggest concern is paying my consultants. Let's say I land a customer who needs a network administrator, and I find and place an independent consultant. It's almost impossible for a new business to get a line of credit to cover operating expenses. How can I avoid going into my own pocket to make payroll if my customer is 30 days late with a payment?
The business is retail and has been in business for more than 21 years. It has slowly been declining for the past seven years. I have $30,000 in open invoices that I cannot pay right now and I've been struggling for the past year.
My wife and I have been running a food business (crepes) for seven months. We started with a penetration pricing strategy, setting the crepes' price below that of other competitors to gain market share. It worked because we were still profitable. But with the economy worsening, the price of ingredients is also soaring. We raised the price while still keeping it below our competitors' prices, but we are in survival mode because the profit is very thin. If we raise the price again then our price will be the same as our competitors, but our market share is still far from what we expected. What should we do? Raise it again or hold on ?
I'm working on my financial spreadsheets from startup through three years for a retail web store. I'm having trouble estimating sales growth for the company. Where can I find some general information on sales growth for e-commerce retail stores?
I have teamed up with a third party to raise the initial $1 million in startup capital and provide infrastructure (HR, accounting, etc.) to start a business. In return, the third party is going to receive 70 percent of the ownership and I will have 30 percent. Should my 30 percent shares be common shares, with identical rights as the 70 percent partner, or should I be willing to accept fewer rights (nonvoting shares, transfer restrictions, etc.)?
I've been compensating a part-time person using a "spot pay" system. Now that I'm getting busier, I find I'm using her on a more consistent basis for repeat jobs. Is there a limit as to how much can be paid using the spot-pay method?
I have the business and financial aspects covered but I really need to find a person with the creative spark to develop and maintain the content on the site. I've tried networking and job sites, but it is such a shot in the dark!
I would like to start an online consulting business, and I'm not sure where to begin. I have contacts who work for popular websites and local popular radio stations, and I plan to sit down with them and discuss ideas. But I'm stumped on ways I can receive compensation for providing consulting services online.
I have just started a home based cleaning service, only residential at this time, and I have one contractor working with me. As business grows, I will hire more. What is the best/easy-to-use small business accounting software to keep track of income and expenses that will also be helpful at tax time?