Types of Businesses – Definition of Business Types

A man is known by the company he organizes. – Ambrose Bierce

[Types of Businesses] – Owning your own business is a major part of having great economic success in a capitalistic society. There are many types of businesses to choose from so one of the first decisions you’ll make is the type of business to open. There are several options to explore for the structure of your business. This article will give you the definition of three of the most popular business types. These types of businesses are: (1) Sole Proprietorship, (2) Corporation, and (3) Limited Liability Company.

(1) Sole Proprietorship – individual ownership and operation of a business.

A sole proprietorship is not a separate organization and does not have any formal requirements for formation. The individual simply begins doing business. Most sole proprietorships are small businesses, and initially their business capital needs are small. Typically, the individual provides the funds. In order to get financing, a sole proprietor takes personal financial risk. The income of the business is the income of the sole proprietor and is reported on the individual’s income tax return. The proprietor is the manager of the business. The business can be transferred only if the owner allows it.

(2) Corporation – any entity formed by statue that has rights of a legal person along with limited liability for its shareholder owners.

Formal public filing is required to form a corporation. A corporation may use short-term financing or debt and equity financing. Limited liability for shareholders is one of the advantages of corporate organization. Corporations have the tax consequences of double taxation. Many shareholders may own a corporation but the board of directors controls the operations. Shareholders have the opportunity to express their views at the annual meeting by electing directors who represent their interests. A corporation can be dissolved voluntarily or involuntarily.

(3) Limited Liability Company – newer form of business organization in which liability is limited except for conduct that is illegal.

An LLC is formed by filing the articles of organization with a centralized state agency. Members of an LLC make capital contributions in much the same way as partners make capital contributions. Members of an LLC have limited liability; the most they can lose is their capital contributions. The LLC does not pay taxes; income and losses are passed through to the members to be reported on their individual returns. Members of an LLC adopt an operating agreement that specifies the voting rights, withdrawal rights and issues. A member’s LLC interest is personal property and is transferrable. Most LLC statues provide that the LLC dissolves upon the withdrawal, death, or expulsion of a member.

The definition of these business types is just the beginning of understanding how to fully utilize each structure. Because there are several types of businesses it is important to know the advantage and disadvantage of each. The type of business you organize will determine a lot about how you reduce liability, protect your assets and pay your taxes. Defining the business type for you is important in “Creating Your Own Lane” in business success.

A Short History Of The Motorcycle

Todays motorcycles are everywhere and there are lots of different classes or kinds of motorcycles as well. But the motorcycle, like the automobile, is a relative newcomer to the world stage.

The first motorcycle ever assembled was built by the German inventors Gottlieb Daimler and Wilhelm Maybach in 1885 in Bad Cannstatt in Germany. They were actually focusing more on the motor that was installed to power the two-wheeled contraption and not so much on creating a new kind of vehicle, but the resulting impact on motorized travel would be tremendous. There were earlier versions of steam powered bicycles, but this was the first petroleum powered motorcycle.

Not long afterward in 1894 the very first production motorcycle went on sale as the Hildebrand & Wolfmüller motorcycle. It wasn’t long after that before several of the bicycle companies of that time got into the act and started selling versions of what was essentially motorized bicycles. However, as horsepower increased, the engines started to outgrow the bicycle frames that were used as their carriage.

The most popular motorcycle company before World War 1 was Indian motorcycle. After the war, Harley Davidson took over the number one spot until 1928 when DKW became the leading motorcycle manufacturer in the world. For a few years after World War 2 BSA took over as the largest motorcycle producer until 1955 when NSU Motorworks who had started out as a knitting machine company in 1884 became the dominant manufacturer for the next couple of decades.

Then in the 1970s the Japanese companies Honda, Kawasaki, Yamaha, and Suzuki made their entrance into this field, changed the face of the industry, and quickly became the dominant motorcycle suppliers to the world from then on. Since the 70s Honda has held the title of the world’s largest motorcycle maker. Today, the big four motorcycle makers have penetrated practically every motorcycle market in the world, and they are highly regarded as makers of high quality motorcycle products.

In recent years some of the older motorcycle brands like the Indian have regained popularity with Harley Davidson being the most successful by far.

Indoor Furniture, Outdoor Furniture – What’s the Difference?

In the world of furniture manufacturing, there are companies that specialize in indoor furniture, outdoor furniture and between the two there is a limited amount of crossover. Outdoor furniture is built differently than the indoor variety, and while you can always use outdoor furniture inside, the opposite is not always the case. If you are debating moving some furniture for outside for a party or a much longer period of time, know what should and shouldn’t be used, and what can be made over to better handle the elements.

Be a material girl:

You don’t have to be Madonna to figure out that some materials are better suited for the outdoors than others, depending on type of furniture. Outdoor materials need to be sturdy enough to withstand variant temperatures, a certain amount of moisture from rain, dew, etc. and humidity.

Common sense dictates that there are certain materials that should never be taken outside, unless you’re absolutely sure that the weather will be perfect. For instance, carpeting is a disaster when it gets wet. It takes forever to dry, and can mold, and it also gets really stiff when it’s cold. That’s why rugs not meant for the outside should stay inside. Likewise, materials like suede, fleece, and dry-only materials should also not be taken outside. Companies manufacture cushion and deep seating fabrics that mimic the feel of more luxurious materials, but are fully waterproof.

Then there are certain pieces that can go outdoors for limited periods of time before you have to worry. Wicker, for instance, though technically considered patio furniture, is not that strong and holds up much better in sunrooms and away from prolonged exposure to sun and rain. Then there are things like thin pottery, ceramic and plastic pieces that are waterproof but not suitable as furniture, outdoor or in. They aren’t strong enough to withstand extreme temperature changes or strong, inclement weather. Untreated metal is also okay to get wet for short periods, but for much longer than that and you risk it rusting.

Then there are those materials intended for use as outdoor furniture. Outdoor materials are especially hearty but still look visually pleasing. Examples of tables, chairs, planters, and more can be seen made out of the following: treated wood and hardwoods, galvanized metal, powder-coated metal (aluminum, wrought iron, zinc hardware), stone and cement (as tables, benches and umbrella stands), marbles, clay and reinforced ceramics (as planter pots), poly resin plastics and waterproof nylon (used in canopies and as cushion covers).

This list only begins to scratch the surface of the multitude of materials that make up our lives. In all, use your best judgment about whether something can go outdoors. Take into account weather patterns. If it’s really nice out, you can be more lenient about what you take outside as furniture. Outdoor conditions can change rapidly, though, so keep an eye out.

Treating Wood

The best thing you can repurpose for use as indoor furniture/outdoor furniture is wood. It’s no more difficult than adding some varnish and it might save you from unnecessarily buying all new furniture. To begin with, take a look at the wood you’re working with. Stay away from old wood that’s in bad condition, as it will deteriorate at an even more rapid pace once taken outside. Next, check what species of wood you have. Some of the naturally stronger woods, like teak, pine, cedar and cypress, are great for the outside. These woods are already strong and durable on their own and require little extra protection. More delicate woods will require extra sealant and even then they probably won’t last as long outside as hardwoods.

To begin the weatherproofing process, you will need to cover wood with a fade-proof, UV-resistant finish. Sand away any lacquer that may already exist on your furniture. Whatever finish is on there is most likely intended for inside, and while it will give furniture a high gloss shine, it’s not the right kind of varnish that will protect it from moisture and the outdoor elements. After the surface is smooth, even and clean you can apply a sealant, usually an oil-based varnish, unless you’re working with a wood that produces its own oils, like teak and cedar furniture. Outdoor atmospheric elements will dry out wood more quickly than furniture that’s kept indoors, so it’s important to protect the surface and heartwood against cracking, rotting and warping. Once that’s complete, you’re good to go. From then on, simply oil and clean your wood furniture once to twice a year to keep it healthy.

What Is A Blog Or What Does Blog Stand For

What is a blog or what does blog stand for are two questions that many internet users still often ask. Well, in short, a blog is basically an online journal whereby a blogger or a contributor to a blog, can digitally note their own thoughts, ideas, opinions and practically anything else that bloggers want people to read about.

Blogs are often called weblogs because after all they are a particular type of website, usually maintained and updated by an individual with regular entries of events, descriptions of situations, personal commentaries or other material such as graphic images or video. Entries are, more often than not, displayed in reverse-chronological order.

Blogs are fluid, interactive platforms for bloggers to get their message across to readers, as opposed to a more static website platform.

There are many resources available on the internet to provide you with blogging tips and information. For instance should you create your blog via a blogging platform such as blogger.com or buy your own domain and set up your blog via a platform such as WordPress. One important aspect of setting up your own blog is that it enables the blogger to create a bond with their readers and to be able to interact with them. It is a great way to make your own thoughts known to others, to pass on valuable information to interested readers, or to create a web presence for your business. The options are numerous.

To achieve this it is advisable for the blogger to include an “About Us” type page, where the blog owner can outline who they are and to disclose the purpose of the blog to their readers.

It goes without saying therefore that, in the main, the blogger needs to know the subject well enough to write regular blog posts. I say “in the main” because the flexibility of a blog will allow the blogger to write a post inviting their readers to comment on a subject that is not so well known by the blogger.

This approach will further enhance the bloggers bond with the readers and will provide more, fresh unique content to their blog.

As mentioned above, blog posts need to be made on a regular basis, but not too regular if the quality of the blog posts are of a poor quality. For instance it is better to post just one really informative, quality blog post every 2 or 3 days rather than several flimsy posts on a daily basis. In short it is the quality of the post rather than the quantity. Posting poor quality posts too often will drive your readers away.

Very often forgotten by bloggers is the need to include tags in their blog posts. Tags let you target your posts into different categories, which can then be searched by readers. For each of your posts you should be looking to have two or three tags. Make use of tags correctly. For example, ensure you use the same words for similar posts but don’t give posts too many tags, as this tends to clog up categories.

Don’t have too many widgets and/or images on your blog to the extent that it slows down the loading of your blog. Readers will exit very quickly if the blog takes too long to load.

Always remember as well that blogs and blog posting should be enjoyable. It is not like writing articles for article directories. A blog post should be written more like your own experiences rather than a regurgitation of a load of researched facts. For instance, one of my passions is football. If I was posting a blog post on a football match then I would write it based on my own experiences of attending a football match rather than spout a load of facts about what a football match is – rules, the time a match lasts for etc.

The flexibility of a blog enables the blogger to get their message across and to take on board any responses or feedback from their readers. It doesn’t take that long to set up a blog – again there are many tips and guidelines available on the internet.

On a more administrative level, if you do set up your own blog, don’t forget to include a “Contact Us” and a “Privacy Policy” page as a bare minimum.

Try blogging, you will find it to be both enjoyable and rewarding.