University of La Verne SBDC Small Biz Blog

  Ever wondered if an S-corporation is right for your California business? You've heard they offer tax benefits and shield you from personal liability, but the setup process seems daunting. Fear not, aspiring S-corp owner, because this guide unravels the mystery and empowers you to take control. What is an S-Corporation? An S-corporation , also known as a Subchapter S corporation, offers a unique blend of legal and tax benefits. It separates personal liability from business liability, similar to a C-corporation, but typically avoids double taxation and provides pass through taxes like that of a sole proprietorship or partnership. However, there are some key characteristics to keep in mind: Limited shareholders: Only 100 shareholders are allowed, and they must be U.S. citizens or resident aliens. Single stock class: All shares must have the same rights and privileges. Ineligible corporations: Certain entities like financial institutions and insurance companies cannot be S-corpor

  The right pricing model can make all the difference in the success of your business, yet it's often overlooked and undervalued. In this article, we will delve into the world of pricing models and show you how to make the most of them. From cost-plus pricing to percentage pricing, I will cover the most effective pricing models and help you determine which one is right for your business. Don't let inaccurate pricing hold you back any longer. Hourly Pricing Hourly is a pricing model that is commonly used by service business freelancers just getting into the market. Typically they pick a number they can live with. Ideally you want to base it on what you made before in your old job or to at least cover your expenses with the level of work and hours you can expect to work. Understand that realistically 50% of the time you wont be making money and you will be busy with administrative tasks like accounting or marketing. Alot small business owner miss this and even forget to add in a

We are the University of La Verne SBDC. We are 1 of 1000 local SBDC center all across the country. We are grant-funded to help small businesses start and grow with 1-on-1 consulting and free resources. Im Joshua, a business associate here at our center and besides helping with some administrative duties to run the center alongside my coworker Sophia and our director Sean, I help with marketing our center. I came on in 2019 and by 2020 during COVID hit everybody and affected how we ran our center being mostly virtual. I thought you know it would be easier to create content for YouTube and luckily, our Director Sean had already started a YouTube with just a subscribers. Over the last 3 years we have created practical guides to starting a business, funding, marketing, and managing a business. If you have been following our YouTube channel then you probably have seen many of these video and used them to start your own business. We recently launched our own on demand video library on Lavern