Connect with us

Starting A Business

Partnership vs. Corporation: Key Differences and How to Choose

Published

on

A partnership is the default business structure for a company with multiple owners. In a partnership, co-owners report their share of the business’s income and losses on their personal tax returns. A corporation, which is formed by filing articles of incorporation, is a legally separate business entity owned by shareholders. An elected board and board-appointed officers manage the corporation.

When deciding on a business entity structure, many small business owners find themselves having to choose between a partnership vs. corporation. The choice will have important implications for your legal exposure, management structure and, ultimately, your bottom line.

Partnership basics

A partnership is a business that’s jointly owned and run by multiple people. If you start a business tomorrow and share the responsibilities with one or more other people, you’d by default have a partnership unless you specifically choose a different structure, such as an LLC or corporation.

A partnership is a pass-through entity. This means that there’s no business income tax on a partnership. Instead, co-owners report their share of the business’s income and losses on their personal tax returns and pay their personal income tax rate.

There are three primary types of partnerships:

General partnership

A general partnership is the most common type of partnership, in which co-owners are personally liable for the business’s debts and obligations. For example, if a client gets injured on business property, they can lay claim to the business assets and the owners’ personal assets as payment for their injuries.

Limited partnership

In a limited partnership, there are two classes of partners. General partners are responsible for day-to-day business and personally liable for the company’s debts and obligations. Limited partners invest money in the business but don’t take part in day-to-day decisions. Their liability is limited to the size of their investment.

Limited liability partnership

limited liability partnership is a special type of partnership typically reserved for law firms, doctor’s offices, accounting firms and other professional service businesses. Co-owners in an LLP are not personally responsible for the business’s debts.

The key difference among these three types of partnerships is the extent of personal liability for business debts. In a general partnership, co-owners are personally responsible for business debts. In an LP or LLP, co-owners are shielded from personal liability.

Tax treatment is the same across partnerships. There’s no such thing as a business tax on partnerships. All three types of partnerships are pass-through entities in which owners report their share of business income and losses on their personal tax returns.

Corporation basics

A corporation is a separate legal entity. The only way to establish a corporation is to file formation paperwork with the state. The owners, called shareholders, are not personally liable for the debts or obligations of the business.

An S-corporation and C-corporation are the two main types of corporations:

C-corporation

The traditional type of corporation that’s subject to a corporate income tax. With C-corporations, shareholders also pay personal taxes on any dividends they receive. A C-corp can have an unlimited number of shareholders and multiple classes of stock.

S-corporation

Corporations can elect to be taxed as an S-corporation, which, like a partnership, is a pass-through entity. Shareholders in an S-corp report the business’s income and losses on their personal tax returns. An S-corp is limited to 100 individuals shareholders and one class of stock and all shareholders must be U.S. residents.

The management structure is similar in an S-corp and C-corp. Shareholders own the company and they elect a board of directors to make strategic decisions. The board appoints officers — like a CEO or CFO — to run the business on a day-to-day basis.

The difference in the two types of corporations is tax treatment and the number of shares you can issue. In an S-corp, you’re limited to 100 shareholders and one class of stock. In a C-corp, you can issue unlimited shares and classes of stock, making it the structure of choice for firms that want to raise money from investors by selling equity.

Key differences between partnership vs. corporation

Your choice between a partnership and corporation will affect your taxes, liability, access to capital and management structure. If you are still undecided on which business structure to choose, take some time to understand the major differences between a corporation and a partnership.

Here are the main differences between a partnership and corporation:

Partnership

Corporation

S-corporation

Business license + DBA + partnership agreement.

Articles of incorporation, corporate bylaws, shareholder agreement, stock certificates.

Articles of incorporation, corporate bylaws, shareholder agreement, stock certificates, IRS Form 2553.

Two or more people.

One or more people, no more than 100 shareholders.

One or more people, unlimited shareholders.

Personal taxes.

Personal tax + corporate income tax.

Personal taxes.

Unlimited personal liability, except for LPs and LLPs.

No personal liability.

No personal liability.

Ongoing costs and maintenance

Annual tax or filing fee (in some states).

Regular board meetings, shareholder meetings, record maintenance, annual report.

Regular board meetings, shareholder meetings, record maintenance, annual report.

Formation

One key difference between partnerships and corporations is the startup phase. Starting a partnership is easier, less time-consuming and less expensive than starting a corporation. To start a general partnership, as with any business, you may need to file for a business license or fictitious business name. But other than that, you don’t really need anything else to get started. It’s a good idea to have a partnership agreement to outline each partner’s rights and responsibilities, but not legally required.

Starting a corporation, on the other hand, requires you to check off several boxes. Along with any necessary business licenses, you have to prepare several incorporation documents, including articles of incorporation, corporate bylaws, a shareholder agreement and stock certificates. To elect S-corp status, you need to file IRS Form 2553.

Note that starting an LP or LLP is costlier and more complicated than a general partnership, but usually, a partnership requires a much smaller investment of time and resources upfront.

Ownership and management structure

As you can probably tell by now, the ownership and management structure of a partnership and corporation also varies significantly. In a partnership, each partner typically brings a complementary skill set to the table. For instance, one partner works on customer acquisition and the other on technical needs. Whatever the division of work is, though, the partners actively run and manage the business together.

A corporation has more layers of ownership and management. Shareholders collectively own the business, but don’t directly engage in company decision-making. Instead, shareholders elect a board of directors to make major strategic decisions, such as whether to target a new audience or change a company-wide policy. The board appoints officers — such as the CEO, CTO and CMO — to run the organization on a day-to-day basis.

Even more importantly, a corporation has the ability to issue stock and easily transfer pieces of ownership in the company to third parties. This makes corporations the preferred business structure of most investors. In particular, investors like C-corporations because they can purchase preferred stock in your business. As your company grows, stock will increase in value and the investor can earn a nice return on their investment. In a partnership, there isn’t a similar item of value that you can easily exchange for an investor’s money.

Taxation

The next difference between a partnership and corporation is taxes. Most people place greatest emphasis on taxation because of the direct impact to a business’s bottom line. A partnership is simpler from a tax perspective, whether you have a GP, LP or LLP. Business partners simply file Schedule K-1 along with their personal 1040 tax return. Schedule K-1 lists each partner’s share of the company’s income, losses, credits and deductions.

A corporation’s tax status depends on whether you’re structured as a C-corp or S-corp. You might have heard of the term “double taxation” with regards to C-corps. This refers to the fact that C-corporations pay a corporate income tax and then shareholders have to also pay personal capital gains taxes on any dividends they receive from the company. An S-corp is a pass-through entity like a partnership, and isn’t subject to a corporate tax.

Legal exposure

One of the biggest benefits of a corporation when talking about a partnership and corporation is that a corporation is a separate legal entity. Creditors and legal claimants can only come after your business assets, not your personal assets (though personal assets are always fair game if you’ve signed a personal guarantee on a loan). That can provide a big sense of relief, especially if you operate in a higher-risk industry, like construction or shipping.

A general partnership leaves you open to personal liability for business debts or business lawsuits. Limited personal liability is available to limited partners in an LP and to all partners in an LLP, but those aren’t suitable arrangements for all types of businesses.

Ongoing costs and maintenance

With partnerships, ongoing costs and maintenance requirements are minimal. Some states, including California and New York, charge an annual tax or annual filing fee. But other than that, there’s really not much in the way of paperwork that you need to file.

In contrast, corporations are highly regulated. You need to have regular board and shareholder meetings, document meeting minutes and maintain records of important resolutions. Corporations also have to file an annual report documenting their activities over the previous year.

How to choose between partnership and corporation

The five differences outlined above should help you decide between a partnership and a corporation for your business structure. Ultimately, you can distill the decision down to three things — your tax bill, your preferred method for raising capital and your appetite for legal risk.

Minimize your tax bill

It’s not possible to say that a certain type of business structure guarantees lower taxes. There are too many business-specific variables — such as your exact income level, business expenses and deductions — that affect your final tax burden. The Trump tax reform bill cut the tax rate for C-corporations to a flat 21%. It also lets pass-through entities, like S-corps and partnerships, deduct 20% of their business income before calculating taxes. An accountant or tax lawyer will be able to crunch the numbers with you and figure out which is the better option for your company.

A C-corporation is subject to double taxation, meaning they pay a flat income tax rate of 21%, and shareholders are taxed on their personal tax returns when profits are distributed as dividends. However, a C-corporation but also enjoys more tax savings than other types of businesses. For example, a C-corporation can more easily shift income around to different fiscal years. Also, a C-corporation can deduct payroll taxes and 100% of fringe benefits given to employees.

“In my previous company that I founded, I elected to organized as a C-corporation,” says Michael Osteen, chief investment strategist at Port Wren Capital, LLC. “The C-corp not only provided legal protection, but also reduced my tax liabilities. For example, the amount you can allocate to your retirement account is much higher and the corp can write it all off. Any bonuses are deductible. You can deduct your medical insurance expenses as a corp and deduct the part of FICA that the corp pays. The wages paid to your employees are deductible. All in all, the corp provides a better tax shelter.”

Consider how you want to raise capital

Raising money has a lot to do with what type of business structure you choose. If you have your own savings or plan to raise money through business loans, then any business structure will work.

However, if you want to raise money from investors, a corporation is the better choice and might even be required. Many angel investors and venture capitalists won’t invest money in a business unless they can receive stock in a corporation in exchange for their support. Stock is the reason that investors can make 20x to 40x returns on their initial investment.

Weigh your appetite for legal risk

Some entrepreneurs are more open to taking risks than others. If you have a general partnership, you need to realize that your personal assets — like your car, home and personal bank accounts — are open to creditors of the business. This might not be a scary proposition when you’re first starting out and don’t yet have a steady revenue stream. But once they start making a significant amount of money, most business owners protect themselves by establishing a corporation.

Of course, the trade-off is that it’s costlier and more time-intensive to create and maintain a corporation. But for most entrepreneurs, the cost and time involved are worth the peace of mind.

“Partnerships typically have very simple management structures. In a general partnership, partners typically make decisions based on majority vote based on share of ownership,” says David Reischer, attorney and CEO of LegalAdvice.com. “Also, partnerships have no formal requirement to have regular meetings and therefore the administrative operation of a partnership is relatively easy to run. That said, our online business is set up as an S-corp, which offers protection of personal assets of our shareholders. A shareholder is not personally responsible for the business debts and liabilities of the corporation.”

Once you decide, set up your partnership or corporation

Once you decide between a partnership or corporation, it’s time to actually set one up! To form your partnership, contact your state’s or city’s business filing department and find out if your industry requires a business permit. You’ll also need to file a doing business as/fictitious business name if you’re operating under a trade name.

For a corporation, you’ll need to get started by filing articles of incorporation. After that come your corporate bylaws, stock certificates and shareholder agreements. Most small business owners use an online legal service like LegalZoom or hire a business attorney to help them comply with corporate formalities.

A version of this article was first published on Fundera, a subsidiary of NerdWallet.

Advertisement

This post was originally published on this site

Continue Reading

Finance & Accounting

4 tips to find the funding that fits your business

Published

on

The facts are clear: Startups are finding funding increasingly difficult to secure, and even unicorns appear cornered, with many lacking both capital and a clear exit.

But equity rounds aren’t the only way for a company to raise money — alternative and other non-dilutive financing options are often overlooked. Taking on debt might be the right solution when you’re focused on growth and can see clear ROI from the capital you deploy.

Not all capital providers are equal, so seeking financing isn’t just about securing capital. It’s a matter of finding the right source of funding that matches both your business and your roadmap.

Here are four things you should consider:

Does this match my needs?

It’s easy to take for granted, but securing financing begins with a business plan. Don’t seek funding until you have a clear plan for how you’ll use it. For example, do you need capital to fund growth or for your day-to-day operations? The answer should influence not only the amount of capital you seek, but the type of funding partner you look for as well.

Start with a concrete plan and make sure it aligns with the structure of your financing:

  • Match repayment terms to your expected use of the debt.
  • Balance working capital needs with growth capital needs.

It’s understandable to hope for a one-and-done financing process that sets the next round far down the line, but that may be costlier than you realize in the long run.

Your term of repayment must be long enough so you can deploy the capital and see the returns. If it’s not, you may end up making loan payments with the principal.

Say, for example, you secure funding to enter a new market. You plan to expand your sales team to support the move and develop the cash flow necessary to pay back the loan. The problem here is, the new hire will take months to ramp up.

If there’s not enough delta between when you start ramping up and when you begin repayments, you’ll be paying back the loan before your new salesperson can bring in revenue to allow you to see ROI on the amount you borrowed.

Another issue to keep in mind: If you’re financing operations instead of growth, working capital requirements may reduce the amount you can deploy.

Let’s say you finance your ad spending and plan to deploy $200,000 over the next four months. But payments on the MCA loan you secured to fund that spending will eat into your revenue, and the loan will be further limited by a minimum cash covenant of $100,000. The result? You secured $200,000 in financing but can only deploy half of it.

With $100,000 of your financing kept in a cash account, only half the loan will be used to drive operations, which means you’re not likely to meet your growth target. What’s worse, as you’re only able to deploy half of the loan, your cost of capital is effectively double what you’d planned for.

Is this the right amount for me at this time?

The second consideration is balancing how much capital you need to act on your near-term goals against what you can reasonably expect to secure. If the funding amount you can get is not enough to move the needle, it might not be worth the effort required.

This post was originally published on this site

Continue Reading

Starting A Business

What to keep in mind when updating your business plan

Published

on

Get up to 30%* off! Get going with GoDaddy!

Why, when and how

Did you know updating your business plan should be a part of your regular business practices? If not, don’t worry — a lot of people skip this step. But it could benefit you to make this effort.

Read on to learn why updating your business plan is so important, how to tackle this task, how often you should make updates, and key things to keep in mind.

Let’s get to it!

Why should you update your business plan?

Black and white photo of man looking at laptop screen
Image source <a href=httpsunsplashcomphotosLks7vei eAg target= blank rel=noopener nofollow external data wpel link=external>Unsplash<a>

Outside of updating your business plan as a standard course of doing business (which we’ll discuss in detail shortly), there are a few noteworthy situations that warrant a full business plan overhaul:

You need to raise funds

If you need capital to make tech upgrades, grow your team, or expand operations, you’ll likely need to raise funds. Before you can reach out to new investors, however, your business plan must be up-to-date and reflect your company’s current financial situation, including operating costs, cash flow, business goals, and income projections.

Related: 10 small business funding options

You want to refinance

Similar to potential fundraising moves, refinancing your business loans requires an updated business plan because it outlines operating costs, your company’s challenges, and forecasted revenue. No lender will entertain refinancing or even new loans without an updated business plan and financials.

You want to launch a new product

Big business moves necessitate an updated business plan and launching a new product or service qualifies. A new product means new potential revenue, so updating your business plan to reflect that fresh revenue stream is critical. Be sure to include everything you would’ve when writing your business plan the first time around — like costs, vendors, time frames, target demographic/segmentation, and financial projections.

You want to expand your company

Company expansion can take many forms. Perhaps you’d like to open up a second location in another city. Maybe you want to purchase more warehouse space for your products. Large technological upgrades are considered expansions, too. No matter what type of growth you have in mind for your business, updating your business plan to reflect this intention to grow is a key step before reaching out to investors and potential lenders.

You’ve changed your supply chain

Supply chain issues have become an acute problem since 2020. However, there has always been a need to update business plans to reflect changes in the supply chain and/or a change in the vendors you decide to use. Any time you make changes to your vendor list, put updating your business plan on your schedule.

Related: How to overcome supply chain challenges in 2022

You have new competitors

If a new major competitor enters your industry, it’s likely to affect how you do business. Whether that means your share of the industry “pie,” so to speak, decreases, or it means a new brand changes the expectations for your industry and you need to now follow suit — a  business plan update is in the cards to reflect these changes.

When and how often should you update your business plan?

As you can likely see by now, updating your business plan is an essential part of having a business plan in the first place.

It’s a dynamic document that needs to be updated to meet where your business is at right now.

Though you don’t need to update your business plan to reflect every little change, making regular updates is a solid business practice.

If your company is chugging along with no major changes, giving your business plan the once-over at least once a year should be sufficient for updating financial data and projections. However, if your company undergoes a major shift, you’ll want to update your business model when you expect that change to occur.

How to update your business plan

Close-up of person looking at charts next to smartphoneClose-up of person looking at charts next to smartphone
Image source <a href=httpsunsplashcomphotosjrh5lAq mIs target= blank rel=noopener nofollow external data wpel link=external>Unsplash<a>

Now that you have a sense of how often you should update your business plan and why you need to do so in the first place, let’s turn our attention to the real meat of this article: how to update your business plan. Here are six key things to keep in mind when updating this most important document.

1. Make updating your business plan part of your regular review process

One of the biggest obstacles to updating a business plan is scheduling the time to do it. Business owners are busy people, and it’s all too tempting to leave these sorts of tasks until tomorrow. However, you can get around this by simply incorporating a business model review into other processes you already complete.

If your company does quarterly financial reviews, add in a business plan review during this time. You’ll already be taking time away from day-to-day business operations to complete the financial review, so you might as well spend a couple of extra hours updating your business plan.

You could even schedule it for when you do your taxes or prep documents to send to your accountant. Add the business plan update to your to-do list for those days.

2. Include your team in the process

If you have any kind of team for your business, you must include them in this process. They are likely involved with the day-to-day functions of operating your business and can provide key insights into what the future of your company looks like. For example:

  • Ask the marketing team for reports on trends they’ve noticed over the past six months or so.
  • Ask sales about any demographic shifts they’re noticing in the customer base.

Those who are doing work within your industry daily are going to feel the subtle shifts within the market before anybody else. And they might have insights into what projections look like — things that you might not come up with on your own.

Leveraging your team means getting a more complete picture of what your company has accomplished, how it’s currently positioned, and where it will go from here.

Pro tip: You can manage these tasks directly in Microsoft 365 as well. Sharing documents is a snap and you can collaborate on your business plan in real-time.

3. Note regulatory changes

When updating your business strategy, take some time to research any regulatory changes that have taken place in your industry. New rules, regulations and laws are passed all the time and many can have a direct impact on how you do business.

For instance, payment processors now must report your earnings to the IRS. This change could affect how you report income and change your relationship with contractors. The implementation of sales tax on internet sales made in the state where your business is located is another example from the past that had a profound effect on companies doing business online.

Such changes can impact your financial reporting and/or make your business more competitive, and less competitive, and otherwise change your approach to how you do business.

4. Note vendor/supply chain changes

Another factor to take into consideration when updating your business plan is any vendor or supply chain issues or changes that have occurred since your last plan update. If a vendor suddenly changed their billing system or adjusted their fees, you might need to account for this in your business plan as it could cut into your profit margin projections.

Or, if the supply chain has made it so you need to use multiple vendors to meet your company’s needs without experiencing disruptions, your business plan should make note of this change — and even indicate that supply chain issues are an ongoing problem.

To be honest, nearly every company has experienced some issue with the supply chain since 2020, so if you haven’t updated your business plan since then, now is probably the time.

5. Keep broader economics in mind

The overall state of the economy can directly affect your company’s performance. And while economic downturns can leave some industries untouched, it’s rather rare. But even if your company is lucky and hasn’t been affected by broader economic fluctuations as of yet, keep updating your business plan on your radar.

The economy as a whole can impact your vendors, shipping, packing, contractors and other services related to how you do business. It can also affect staffing and the accessibility of talent. So even if your company hasn’t experienced negative effects, acknowledge the general state of the economy in your business plan and include contingency plans should issues arise.

6. Follow demographic changes

We’re currently in the midst of huge demographic changes in the United States and all over the world, which will have a direct impact on how you do business and what the future might bring to your company.

As of 2022, the median income among the middle class is going down, the income of the very wealthy continues to go up, and the median age of workers is going up, too. People are having babies later in life and at lower rates than in the previous generation.

All of these factors can directly impact your revenue potential as well as who your target demographic or ideal customer even is. And this means you need to update your business plan to account for these shifts. Continue to revisit demographic data and projections a couple of times per year to ensure your internal projections still apply and to see if your processes need updating and track your actual results. If so, a business plan update is in order, too.

What to do next

If you haven’t even so much as glanced at your business plan in a bit, now’s the time to dust off the document and give it a once-over. Times are changing — seemingly faster than ever before — so it would behoove you to set aside some time to update your business plan sooner rather than later.



Get Hosting for $1.00*/mo with GoDaddy!

This post was originally published on this site

Continue Reading

Business Ideas

Build your own brand (and stop reselling!)

Published

on

Get up to 30%* off! Get going with GoDaddy!

Take control of your own branding

I used to think that every “brand” was supported by its own factory and an army of in-house employees. I was wrong. Branding your own product doesn’t mean you need to design and manufacture it yourself.

Rolls of frabric with prototype clothing in background

Of course, most brands partner with factories, freelancers and agencies for extra support. But many others use white label designs straight from a factory. Here’s how it works:

  1. You find a manufacturer with a product design you like
  2. Add your brand name on it
  3. Sell it as your own

Sometimes there’s simply no need to design a product from scratch. There are plenty of well-designed products out there that just need a brand to sell them.

Where can you source white label products?

You can use sites like Alibaba and AliExpress to find pre-designed products ready for your brand name. No need to invest in product development, which can take months (or sometimes years) before a final sample is ready for production.

This Reddit post shows you how to use Alibaba or AliExpress to build your own brand step-by-step with just $1,000, a little imagination and a healthy amount of drive and ambition.

White labeling gives you so much freedom compared to reselling other brands’ products.

It can be the stepping-stone you need to put your brand on the map — even if you do end up reselling in the future or invest in R&D for products down the line.

1. Building your own brand means having control

When you buy stock from other brands to resell on your website, you’re not in control. They are able to dictate things like:

  • Singular keyboard buttons on blue background that spell CTRLSingular keyboard buttons on blue background that spell CTRLThe price you pay
  • Whether you can discount it and for how much
  • How you can and can’t market it

When you start your own brand, you have control. If you source directly from a factory, you can afford to drop prices to undercut competitors, while still making large margins. The tough design decisions have already been made, but you still get to make the product yours by customizing its look and adding your branding.

Where the brand goes in the future is up to you — it’s your adventure!

2. It reduces competition

Selling other brands’ products seems like an easy way to get rich. But often, you end up competing against other companies selling the exact same products. It’s not easy.

When starting your own brand, you’re the only one selling the products with your name on them, so you can build your own reputation.

For example, if I sell Beats headphones, I have to compete against all the big names already selling them. Those bigger companies can undercut me because they buy the headphones in bulk, which means they can sell them at a cheaper price.

So without competitive pricing, I could be crowded out of the market altogether. There’s just no way for a one-person company to achieve meaningful success by selling Beats headphones.

Black headphones laying on white desk

Black headphones laying on white desk

That said, if I launch my own brand of headphones called Nick’s Brilliant Headphones, I’ll still be competing against other companies making headphones. However, I’ll be the only person in the world selling Nick’s Brilliant Headphones.

With proper branding, some good reviews and the ability to maintain a good reputation, I could be on my way to the top.

3. It’s a stepping-stone to success

Perhaps you’ve heard of the popular saying, “Mighty oaks grow from little acorns.” The understanding of this quote means that sometimes something grand can stem from a small venture.

It doesn’t matter if you start out selling water bottles you bought on Alibaba, then rebrand them in your living room. After all, Jeff Bezos started Amazon out of his home.

The biggest brands have humble beginnings. There’s no telling how far you’ll take your brand once you get off the ground.

You could be importing en-masse from factories this year, developing your own products the next and building your own factory in five to ten years. As your brand reaches more people, it’ll gain recognition and loyalty. You’ll be able to take the brand wherever you want from there.

Importing products and adding your brand name to them may seem primitive, but it’s the first step to success and ownership over your future.

4. You can become the distributor

Today, you might approach Beats by Dre to resell their products. But instead, imagine if people approached you to sell your product?

You still get a cut of every sale, but you also get the following perks:

  • Increased brand exposure
  • Added benefit of a new revenue stream
  • No burden of selling to customers all by yourself

You can go from begging other brands to let you work with them to the person whose products everyone else wants to stock.

I know several companies whose products are stocked in brick-and-mortar stores — and they all tell me it adds cushy extra income. There are always people who prefer to shop in a store or buy important last minute purchases in-person so they don’t have to wait for delivery.

5. Increase profits by cutting out the middlemen

If you resell products from an existing brand, you pay a wholesale fee to them. This helps cover their margin, plus the cost of the product, but may leave you with a lower profit.

Scissors next to orange thread and measuring tape

Scissors next to orange thread and measuring tape

If you start your own brand and sell it online, you only pay the manufacturing costs and any import and shipping fees.

That wholesale fee you would’ve paid another brand is money in your pocket.

You can then afford to undercut other sellers of similar products, while still maintaining a great margin.

It’s time to build your own brand

There are many merits to selling other people’s products. But the advantages speak for themselves when you have:

  • Time
  • Determination
  • Personal drive to start and build your own brand

And with white labeling, it’s easy to get started with a small investment.

Save the time and effort of marketing someone else’s products and promote your own instead. It could be the start to your brand becoming a household name.

Have thoughts on building a brand? Share them in the comments!

Image by: Mediamodifier on Unsplash



Get Hosting for $1.00*/mo with GoDaddy!

This post was originally published on this site

Continue Reading

Trending

SmallBiz.com does not provide legal or accounting advice and is not associated with any government agency. Copyright © 2021 UA Services Corp

SmallBiz Newsletter

Join our newsletter for the latest information, news and products that are vital to running a successful SmallBiz.