Starting Right Matters Launching a small business is exciting—but also unforgiving. Studies show that nearly half of small businesses fail within the first five years, often due to avoidable mistakes. Success isn’t just about having a great idea; it’s about execution, awareness, and disciplined decision-making. Below, we’ll explore the most common errors new business owners make, how to prevent them, and the practical systems that can keep your venture steady as it grows. Mistake #1: Skipping the
Experiencing rapid growth can be both exciting and overwhelming for small business owners. While increased sales and customer demand are signs of success, scaling too quickly without the right systems can create stress, inefficiencies, and missed opportunities. The key is to prepare for expansion with tools and strategies that bring clarity and control. Recognizing the Signals of Rapid Growth Sudden growth often comes with clear signs: A surge in customer orders that strains your existing
The Corporate Transparency Act (CTA) mandates Bronx businesses to disclose Beneficial Ownership Information (BOI) to FinCEN, a federal initiative to combat financial crimes such as tax evasion and money laundering. As of today, 11-26-2024, Bronx business owners have 36 calendar days (or 27 business days) left to file their BOI reports with FinCEN—don't delay, as fines of $500 per day may apply for non-compliance. Action Plan for Bronx Businesses1. Confirm Your Filing Requirement Deadline:
In the world of business, where opportunities abound and competition is fierce, the key to long-term success often lies in the details. For LLC owners, one such crucial detail that can make or break your business’s standing is the timely and accurate filing of your annual report. This seemingly mundane task holds significant power, as it stands between your thriving enterprise and costly penalties or even dissolution. But fear not—this guide is your ally in demystifying the process and illuminating the