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5 Laws Every Start-up Founder Must Be Familiar With

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A founder is the person who starts their own company. Starting a business comes with both pressure and happiness. You’re happy because you’re finally making one of your dreams a reality. On the other hand, you’re pressured to do everything perfectly and avoid mistakes as much as possible. The pressure is also related to the fact that you aren’t sure how the business will perform.

The success of a business depends on elements such as operations, research, financials, and customer service. Research begins even before the business starts. It involves looking up things such as laws that relate to your business. Without adhering to some of these laws, your business may be considered illegitimate and shut down before it even sprouts.

It’s therefore essential to know these laws and, with the help of an expert such as the Syndication Attorney, ensure your business is in line with the law. This article provides five basic laws that every start-up founder must know. Keep reading to learn more.

1. Business Formation Law

Starting a business means you already have an idea of what you want to work on and earn a living from. When choosing what business you want to start, it’s best to think about things like the practicality of your ideas, realistic profits to expect, and suitability.

Additionally, settling on the kind of business you want to start requires knowledge about business structures, as different companies have different systems.

Business structures depend on factors such as:

  • The business’s aims and goals
  • Vision and mission of the business, and
  • Other long-term objectives

After settling on the type of business you want to start, the next crucial step is to register the name of your business. Not adhering to such a law could result in you paying fines before you start profiting from your company.

Therefore, take your time to determine the laws and requirements needed when starting a business to avoid inconveniences.

2. Business Licensing Law

Business licenses vary depending on the type of business. If you’re planning to start an e-commerce business, you need to have service tax registration, VAT registration, and professional tax licenses. Food-related businesses need health trade licenses, food safety licenses, the prevention of food adulteration act, and a certificate of environmental clearance.

Additionally, businesses that involve importing and exporting need licenses such as export and import code and factory license. However, the Shop and Establishment Act is a shared license that every business requires.

Therefore, it’s advisable to research all the licenses your business requires and prepare all the documents needed for licensing. If you operate a business without the required licenses, you risk losing it.

3. Tax And Accounting Laws

  • Taxation Laws

Just like licenses, different businesses are obligated to different taxes. You need to research the type of taxes tied to the business you want to start. Also, taxation varies from state to state. Therefore, you must research and be informed about your state’s taxing system.

Having the correct information about taxation will help you avoid possible taxation violations, with consequences such as fines, tax bills, lawsuits, and imprisonment.

  • Accounting Law

Accounting mainly involves recordkeeping. Start your recordkeeping by first knowing where your business funds are coming from. The funds can be in the form of self-financing or equity financing.

After starting your business, you need to be committed to maintaining account books that have intervals that are convenient for you. The intervals can be two weeks or monthly.

Bookkeeping helps improve your business’ performance as you’re able to analyse the costs incurred and find ways to cut the costs and increase profits.

4. Labour Laws

Regardless of the number of employees you plan to have in your business, you should be aware of relevant labour laws.

Labour laws relate to matters such as:

  • Payment of wages act
  • Minimum wages act
  • Employee compensation act
  • Maternity benefits act
  • Trade unit act
  • Payment of bonus act
  • Industrial disputes act
  • Employees’ provident funds and miscellaneous provisions act, and many more.

If your business is found guilty of violating any of these acts, you’ll have to face penal liabilities. You may also earn negative reviews.

5. Contractual Laws

Contracts are essential in every business, especially in projects. However, if not handled well, they can cause risks such as the other party turning against you.

The following elements are used to make contracts legit:

  • The parties involved made the contract by free consent
  • The contracts are for lawful considerations and have lawful objections
  • They’re not declared void

In addition, it’s vital to clarify details such as working hours, salary to be paid, and type of work. Making such things clear helps with work relations as everyone knows what is expected of them.

When starting a business, it’s better to use non-disclosure agreements (NDA), especially when discussing business ideas. It’s always safer to protect your ideas at the start of your business, as you might not be sure who you’re dealing with. NDAs help avoid your company ideas being stolen by the people you shared it with.

In Conclusion

Starting a business can be overwhelming, especially if you’re unsure how to do it. Lack of information about laws can cost you a lot even before you start enjoying the fruits of your labour. Knowing the laws discussed above can help you avoid making common mistakes people make. Therefore, before you start that business in mind, try to understand how these would laws apply.

How to Start a Successful Online Casino Business?

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Opening your own online casino is a great idea. This may be your personal Klondike. But what steps should you take to achieve such success? Here is a step-by-step guide that will help you. Read this article to understand the basics of opening your own online gambling platform.

Read, inspire, and get the most relevant ideas that will help you succeed in the domain of digital casinos.

1. Choose the most reliable software providers

Software is the basis of any digital casino. It goes about the very platform with its interface. And it also goes about slot games that will be available to the users of your website. While developing your own online casino website, focus on the most reliable software providers that have an excellent reputation in the online gambling domain. Probably, products from such game development studios will cost you more than the ones created by unknown developers. However, the reliability is definitely worth its price.

The best idea is to focus on such gaming studios as NetEnt, Microgaming, Yggdrasil, Playtech, and Evolution Gaming. These developers will provide you with state-of-the-art games. It goes about a great diversity of slot games, live table attractions, and some online gambling specials for the most demanding players.

Make sure to approach the formation of your game selection with full responsibility. Later, a consistent collection of games presented on your website may help your marketing efforts.

2. Get the licenses

A license is something without which your online casino will not work. Mind that a reliable license is also a great helper when it comes to attracting more people to your online casino.

We recommend you focus on obtaining licenses from gambling authorities in such countries as Malta and Curaçao. These are tried and trusted solutions authorities well-known for their responsible approach to licensing.

Any user that sees licenses from these countries on your casino website will take it as an additional security guarantee.

3. Create a great website

Most legit online gambling platforms are quite similar. It goes about similar bonuses and designs. Your casino site should be, at least, as good as these platforms. It goes about making the site reliable, user-friendly, and stable. Also, think of making it special.

It may go about a unique bonus policy, special features, or even style and design features. The key point is that there are too many online gambling platforms in the market. You should do your best in order to make your platform stand out.

It doesn’t necessarily go about creating something absolutely innovative and special. Instead, you may just focus on creating a consistent and stylish design for your online gambling platform. Probably, you can even come up with a perfect game selection that will include only those games that fit the website and its design. Later, you will use such features as your platform’s main selling points. And, believe me, a reliable, user-friendly, and, to some extent, a unique online casino will find its audience.

4. Think of payment methods

A solid selection of payment methods is a tried and trusted solution when it comes to making a user-friendly and reliable casino website. First of all, make sure that your payment options cover all types of currency to play in real money casinos NL and are completely secure. We recommend you focus on tried, trusted, and popular payment methods that provide the fastest pay-outs.

The best picks include PayPal, Neteller, and Skrill. And don’t forget about cryptocurrency payments. They are perfect for instant pay-outs.

5. Don’t forget about marketing

Marketing and promotion are vital when it comes to making your online casino visible in the market. One of the best ways to promote your online gambling platform is by introducing the most attractive bonuses. Most online casinos build their marketing campaigns around such promotions and VIP programs. The latter is especially useful when it comes to making your clients more attractive. The users understand that the platform admires their devotion, which makes them more loyal to the website.

Surely, you should also plan your promotion channels. Create ads for social media and make sure that your platform is mentioned on various popular websites. The key point is to create a consistent and honest marketing campaign that clearly emphasises the main benefits of your online casino. And don’t forget about bonus codes and referral bonuses. These are proven and reliable methods for expanding your website’s client base. If you do everything right, you may launch the next big thing in the market.

Conclusions

So, these were the main tips for launching a successful online gambling platform. Everything is much easier than you may think. The key point is to go with a comprehensive step-by-step approach. Choose a reliable software provider, get all the required licenses, create a user-friendly and attractive website, introduce secure and convenient payment methods, and don’t forget about marketing.

If you follow these simple tips, you may launch the casino that becomes your personal Klondike.

10 Manufacturing Small Business Ideas

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Manufacturing added $2269.2 to the US GDP, resulting in 10.8% of the total GDP in the USA. Undoubtedly, manufacturing plays a vital role in the economy of the US and other countries in the world. Small businesses are a dominant force in the manufacturing industry, as more than 98% of US manufacturing companies are small businesses.

Before getting into manufacturing, business owners must consider some factors:

  • The products in demand
  • Start-up cost
  • Level of knowledge
  • Business location
  • Availability of raw materials and workforce.

These factors affect the growth and productivity level of any firm.

The high level of competition in the manufacturing industry pushes small businesses to brainstorm ideas to penetrate the market. This article will recommend manufacturing ideas based on statistics to help small enterprises to kickstart their companies and succeed in the manufacturing industry.

Top 10 manufacturing Small Business Ideas

In a highly competitive environment, new businesses with a unique philosophy, brilliant strategies, and innovative ideas will likely be successful.

There are over a hundred business ideas to ponder over, but the mind-blogging task is to figure out which of them is in hot demand in the market. Here are the top ideas for small businesses:

Tea

Tea is the second most widely consumed beverage in the world. In 2022, the tea market will generate a revenue of $14,168.4 million. The tea market will grow annually by 4.10% within the next three years. Additionally, a recent survey suggests that afternoon is becoming a significant trend in 2022. Many drinkers will be demanding tea to quench their taste.

If you’re a tea lover, you’ve got a million dollars industry in your hands. You can combine different leaves and perhaps develop the next best-selling tea brand. Despite having six significant categories, you can blend tea leaves into different variations and flavours—the numbers are unlimited.

Step into the tea market, explore different leaves, request feedback and take advantage of this easy small business idea.

Microbrewing

Microbrewing is among one of the best business ideas. Beers are a significant part of the American tradition. The USA occupies the second position in global beer production with 211 million hectoliters volume. Craft beers are available in many pubs. Nevertheless, craft brewing or microbrewing requires comprehensive knowledge, the right equipment, and licensing from respective bodies. Understanding the process will help you mix flavours and ingredients to produce a unique brew.

You can run ads on the internet to market your product.

Grape wine production

A survey shows that 75% of adults drink wine. Wine is mainly consumed because of its taste and the good feeling it gives to the body. Grape wine production is a lucrative manufacturing idea for small businesses. If you love wine so much, perhaps it’s time to turn your interest into fortunes and create your unique label.

However, grape wine production is not challenging as people think. Understanding the varieties of grapes and flavours they produce is the first step to starting wine production. Learning the finest ways to source them according to your standards and taste would be beneficial. You can spend years growing your own vineyard, or visit local vineyards or wine dealers to model, pick, and buy grapes that offer your desired taste and quality.

Wine production requires extensive knowledge and a production facility. However, the presence of custom crushers in the market makes it a lot easier. These crushers provide the equipment needed to produce and bottle your product. They also offer skills and partnerships for those interested in reducing their costs.

Cosmetic and skincare

The cosmetic and skincare industry is extremely valued worldwide. It generates $49.2 billion yearly because of the high demand for personal care and beauty products. Skincare products occupy the market’s largest segment. The public is increasingly interested in natural, earth-sourced, and chemical-free products because of their little to no side effects on the body. Producing natural skincare products is a win-win for you and your potential customers.

You need to define your mission and determine your niche to penetrate the market. Source ingredients and package products that mirror your brand. Many platforms are available to help out the process. You can test your products in your home, obeying the lab-grade sterilisation process. If you have enough cash, you can outsource to many labs specialising in beauty.

Fashion

From 2020 to 2025, the value of the global apparel market is estimated to grow from $1.5 trillion to $2.25 trillion, thanks to the increase in the demand for clothing and shoes around the world. If you love fashion, you are one step away from converting your interest into money. To succeed in the fashion industry, one must not necessarily be into design or sewing.

You need to develop a desire, style, mindfulness about what’s going on in the fashion scene, and high creativity before starting up your label. You can begin customising artworks on people’s clothing if you have graphic design skills.

Jewellery

Jewellery has become an essential part of dressing accessories, as new designs and fashion trends attract customers. In 2018, the global jewellery market was valued at $ 278.5 billion and is expected to grow in subsequent years. If you are an artisan, you will have an edge in the market. You can easily partner with trustworthy suppliers. Upgrading your tools and equipment will help improve your productivity level.

If you love and enjoy playing with kids to keep them happy, you’ve got a potential audience in your hands. According to Statista, the toy industry generated a revenue of   $94.7 billion in 2020. Since 2010, the toy market has been growing by over 13%. Creating and designing toys for kids is a rewarding business. You can pick inspiration from popular kid’s cartoons, superheroes, sports, dolls, aviation—the list is unlimited. You need to choose a concept, draft your idea, and refine it until it becomes a reality as you planned.

CBD products

Suppose you’ve applied CBD oil to tackle your health challenges. In that case, it’s time to consider venturing into producing products related to these magical plants. Sales of CBD products in the USA reached $4.6 billion in 2020. In the next six years, the value of the CBD market is estimated to clock $16 billion because of its health benefits.

You can start producing CBD products by trying different formulations and figuring out the best delivery system. You can also source ingredients from reputable suppliers. The opportunities in the CBD market are overwhelming.

Candles

During romantic picnics and festive periods, candles are valuable accessories. In 2019, the market value of candles was $3.54 billion. The market value of candles is expected to clock $6.64 billion in eight years. The candle-making process is straightforward and requires low start-up capital.

You can purchase basic supplies online. Candle production is an easy small business idea that yields good money.

Phone covers

Like mobile phones, phone accessories are highly rated. In 2020, the worldwide mobile accessories market value was $202.45 billion. The phone accessories market is expected to grow with a CAGR of 4.5% within the next nine years and clock $328.70 billion by 2030 because of mobile phones’ high acceptance and usage.

Phone covers allow phone owners to reflect their personalities. Before launching your phone case line, you need to develop an innovative design concept that reflects recent trends and interests.

Conclusion

Many opportunities are available in the manufacturing industry. All you need is the right, successful business idea that suits your interest. It would help if you enquired about the start-up cost, demand rate, availability of raw material, and level of competition in the market. The key to success in the manufacturing industry is to create a unique product, model it to the best standards, and collaborate with the right producer who supports your process, quality, values, and expectations.

We hope you find this article helpful in your quest to grow your business!

About the Author

Alex Lysak is a CEO at SeoBrothers team. He has over ten years of experience in online marketing. He is passionate about building a solid iGaming affiliate team. He aspires to become number one in this niche worldwide.

7 Reasons Why You Should Start A Podcast For Your Business

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Starting a podcast is a good idea, because podcasts are scalding hot right now. Alex Cooper (Call Her Daddy) recently penned a three-year deal worth more than $60 million with Spotify.

The popularity of podcasts has risen during the last two years and major streaming platforms have been creating brands in the podcasting space. So much so, that we may be entering a new era of media and multimedia advertising.

If you do it correctly and consistently, you can quickly increase your audience for your brand. Starting and maintaining a podcast will take hard work and planning. You shouldn’t start one unless you have figured out your differentiator.

During the pandemic, digital content saw a huge surge in consumers. Growth forecasts predicted revenue of $659 million for digital content, as a result of employees working from home, enforced social distancing, and by creators having to transition their content to the digital space.

Below is a list of 7 reasons why you should start a podcast for your business:

1. Audience Building

Hosting your show on platforms such as iTunes will also expose your show to new listeners who find your show by searching for specific topics on those platforms. For example, if you host a show about marketing, someone looking for a podcast about marketing will find your show if it appears in the search results for that keyword.

2. Cheap To Start

There are only a few pieces of equipment required to host your podcast. The first is of course a computer with an internet connection. From there, your basic essentials are a microphone, headset, and a pop filter. This equipment can be purchased on Amazon for $140.

3. Business Networking

If you host a podcast in which you interview various guests for your show, one of the most obvious benefit of doing so is that you get to expand your network. A podcast is a great platform to reach out to people you might not have been able to otherwise. As your audience grows in size, your ability to reach out to the high-profile industry leaders increases.

4. Alternative Revenue Stream

There are a few ways you can monetise your podcast. If your download numbers are high enough, you can charge sponsors to be mentioned on your show. You can also use your show to promote your own products or services. Another option is to include a recommended resources section on your show’s main website, and include affiliate links in each of the recommendations. This way, when someone clicks on a recommended resources and decides to buy, your earn a commission.

5. Authority Building

Sharing helpful advice on a specific topic on a consistent basis helps position you as an authority in your industry. Hosting a podcast has a similar effect as running a blog or writing a book – it helps develop your reputation as an expert. As you increase your authority in your market, you attract other opportunities to you. You may also consider offering coaching or consulting services as people begin asking you for specific advice on your area of expertise.

6. Free Promotion

A podcast can be a great tool to attract your ideal customers or clients. You can use your show to help promote your own products and services. You can mention these things in your episodes, or simply tell your listeners to visit your website to learn more about what your service offering.

7. Low Maintenance

There are a few podcasts out there that publish episodes on a daily basis. But most shows publish an episode once per week and that seems to be the current norm. The good news is that once a podcast has been launched, maintaining it isn’t as time consuming as you think.