University of La Verne SBDC Small Biz Blog

by Joshua Botello Google My Business page is a directory listing for businesses that have websites or some kind of business information online. Because information is found online business owners can claim this information for their own business and use this as another property to promote their business right inside google search.  If you have a business you can easily claim your business and get control of those details but I’ll touch on that later.  This video is primarily for businesses that are just getting started and looking to start up their own google my business accounts. Now that you know what google my business is, let’s hop on to the computer and do the registration. There are two steps to this process. So let's start with step one. STEP 1 - Create Your Listing If you don’t have a google my business account and haven't started up yet, we will go to business.google.com/create and you will be greeted with this simple page. You can use this search bar to find your busi

Finding a location for your business is one of the most important decisions you can make. Deciding on the type of lease structure you might run into when renting a commercial space can be the most confusing part of the process. Here are the 6 most common types you might run into. Gross Lease Also known as a Full-Service Lease the landlord covers all the building expenses. This is a commercial  lease  where the tenant pays a flat rental amount, and the  landlord  pays for all property charges regularly incurred by the ownership, including taxes, utilities, and water. This lease generally refers to a “base year” to start payments and stipulates a certain escalation in cost to cover inflation. The rent amount is calculated based on the cost of rent, with a reasonable markup and may include the cost of other services like janitorial or landscaping.  The advantage to this is that it is a flat rent cost similar to that of a conventional apartment lease and is regular and fixed per

by Joshua Botello I n this video, I'll be reviewing the EDDM tool from the United States Postal Service. The Every Door Direct Mail tool, from the United States Postal Service, is worth taking a look at if you are just starting out in your business or if you are just not into digital marketing for your local area. This isn’t for businesses that are primarily online. While this tool can be used online, more tech-savvy and digital marketing savvy businesses can forgo the EDDM in exchange for search and video ads. You just set up your business in a new city or you opened up a home business and want to advertise to the local community, here is a relatively simple and inexpensive option. It’s called Every Door Direct Mail and it's powered by none other than your US Postal Service! The basic idea is that you create a mailer, coupon or offer and blast is out to the local market. The catch is you do need to have an idea of your target market but once you have that it's super simple

The Forms of Ownership presentation is a discussion of the most common forms of business ownership that are available to business owners. Information is presented about Sole Proprietorships, Partnerships, Corporations, and Limited Liability Companies. This information, along with specific filing information for each form of ownership, allows the business owner to determine which form of business ownership best fits their business needs. About the presenter: Lucius C. Davis III is the Small Business Liaison in the Taxpayers’ Rights Advocate’s Office. He assists with the development of small business education and outreach programs in order to help business owners better understand their income tax requirements and responsibilities. He also provides information about the Franchise Tax Board’s (FTB) programs and services that are available to them. Funded in part through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, conclusions, and/or recommendati

by Joshua Botello So, you want to start a business, but don’t know if you need a sole proprietorship or LLC? C-corp? S-corp? Whoah. (hands up) Don’t worry I’ll break it down for you to determine the right one for your business. Here’s my disclaimer: I am not a lawyer or accountant. This by no means legal advice and is for education purposes only. All the resources for this video are listed in the description below. Ok? ok. SOLE PROPRIETOR First up is a sole proprietorship. This is the cheapest and easiest to form. With this structure, you are the business. If someone decides to sue you for a bad product or service, since you are the business, they could go after your house, car, and any other personal property. In the eyes of the law, there is no separation. You can easily become a sole proprietor by filing a Fictitious Name Statement also known as DBA for about $100 dollars in the county the business is located. Limited Liability Company (LLC) The next formation is a Limited Liabilit

by Joshua Botello Insurance. One of the dullest topics to ever talk about with anyone, other than an insurance broker. This means that we should have this important conversation as soon as possible until it is too late and you are up to your waist in legal issues that could tank your business in one fell swoop and is essential for small businesses to operate. Let’s take a look at 6 of the most common types of insurance policies that any business may need.  Disclaimer: The information in this article, while authoritative, should not be considered legal advice. Consult your licensed financial advisor, legal counsel, and/or regulatory body to determine the best policies for your business.  COMMERCIAL LIABILITY First on our list is commercial liability insurance, otherwise known as general liability. It's one of the most common types of business insurance. Basically, this kind of insurance protects your business against bodily injury and property damage. It is gen

by Joshua Botello If you have filed for your DBA, EIN and now you look to start selling, there is one crucial but often overlooked item business needs to get: a business bank account. A business bank account is a necessity because it separates your business expenses from personal expenses, allows check processing, and gives you access to financing. I’ll show you what to look for in a business account and what information you need to open one. Most of this research can be done online. So let’s start there and open up our bank account. Finding a Bank The first step to getting your business bank account is determining your bank. Most commercial banks that have personal accounts also provide business bank accounts. You should start with your bank where your personal account is and simply inquire about a business account. You need to consider that any bank and even credit union can have business accounts. You will need to check if this makes sense to go with a traditional bank or credit uni

Photo by  Kelly Sikkema  on  Unsplash by Joshua Botello Getting small business certifications has been a way for disadvantaged businesses to get a leg up on the ever-competitive market. These are the most common small business certifications you are going to find. They definitely offer an advantage in the marketplace, so here is some background on what these programs are about and what you’re going to need. Photo by  Hannah Skelly  on  Unsplash Service-Disabled/Veteran-Owned Small Business (SDVOSB/VOSB) The Veteran-Owned Small Business certification is a federal certification through the Department of Veterans Affairs. This particular program is not what is known as a set-aside, the government does not allocate a specific amount of contracts to VOSBs. What this certification offers is a spending goal of all contracts at 3% of total spending. Now, this might sound small, but in fact, amounts to $40 billion in contracts annually. The VOSB certification allows

Image by   pictavio   from   Pixabay   by Joshua Botello If you have ever asked: “what the heck is a bond?” don't worry, you aren't alone. Basically, bonds are contracts typically between three parties, protecting losses caused by one of the party’s not meeting contractual obligations. Here are the major types of bonds and when you might need them in your line of work. Surety Bonds So, if you’re a construction business then the surety bond would be for you. The surety bond is between your company, the customer, and the guarantor (the issuer). You pay the guarantor to take out the bond. If you fail to meet the contractual obligations to your customer, then the guarantor pays the fee or the fine to your customer. The SBA has resources for providers and even guarantees surety bonds in order to help small businesses compete for jobs. It’s worth checking to see if they can guarantee your surety bond. License / Permit Bond This type of bond falls under the umbrella cate

by Joshua Botello If you are looking to open a business in a particular city, a city business license is a must when it comes to operating legally. The purpose of the license is for cities to regulate what businesses are in the city and collect local taxes for all businesses operating within the city limits. I’ll cover all the things you will need to look out for and what information you are going to need for filling out the application. The first thing you want to know is where your business is going to be: a home business or a storefront? There are few differences, So let’s hop on to the internet and get to that application. Ok, so I’m in my web browser and starting on google.com. I am going to use our city as an example to go to cityoflaverne.org. Here I am on the webpage. What we need to do is navigate to the business department. Luckily it’s right here and we can just click on “business licenses” to head over. For the city of La Verne they only do printed applications, but w