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From the monthly archives: April 2011

We are pleased to present below all posts archived in 'April 2011'. If you still can't find what you are looking for, try using the search box.

Find Out if You Got What it Takes to Own a Business

Take This Test to See if the Shoe Fits. According to Fortune Magazine, nearly 80% of the 400 richest Americans have earned their wealth through business ownership. This may help to explain the tremendous interest in entrepreneurial pursuits today. Another explanation may lie in the way corporate America works. When corporate America downsizes, a key strategy involves the discharge of middle-aged managers at the peak of their earning power. These high-priced executives are generally replaced by younger counterparts hungry for promotions. They are willing to work long hours for less money in order to achieve that goal. In any event, more and more people are looking to themselves for the answer to future employment these days. There is an emergence of a new breed of entrepreneur -- the "modified risk taker." The dictionary defines "Entrepreneur" as "a person who organizes, operates and assumes the risk for a business venture." This definition implies that the "classic entrepreneur" starts a business f ...

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Key Characteristics of Successful Business Owners

Some people are just born with it! These are traits that successful business owners commonly share. Above all, however, business owners need to have strategic thinking skills, time management skills, and know the job. No one can embody all these traits if they are part of the human species, but varying degrees of these characteristics is the stuff that success is made of. Decisiveness (ability to make decisions) Open-Mindedness / Flexible (willingness to change with the market as technology advances) Multitasking Ability Negotiation Skills Ability to Delegate Leadership Skills Innovative Abilities Problem Solving Energy Judgement Courage (risk taking) Vision Creativity Skills Additional signature traits of successful business owners: Interpersonal motivation as well as self-motivation A pioneering spirit Self confidence Team-building abilities Copyright 2007-2013. All articles are authored by Rose ...

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Tax Implications of Selling or Buying a Business

The following information explains the tax consequences of buying or selling a business. Be sure to see the Seller/Buyer Comparison Table at the bottom of this article. Key Points You are only taxed if there is a gain on the sale or if income is earned Capital Gains tax rate is almost always lower than Ordinary Income tax rate Both the Seller and the Buyer are required to file form 8594 with the IRS disclosing how the assets of the business were transferred Buyers prefer asset sales, Sellers desire stock sales Buyers want to allocate as much of the purchase price to consulting agreements and highly depreciable assets such as equipment and vehicles Sellers want to allocate as much of the purchase price to goodwill and inventory Corporate Stock Most small business transactions are asset sales rather than stock sales. But on the rare occasion when stock is purchased it is treated as a capital gain for the Seller. The gain is calculated by figuring how much the or ...

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Certified Business Brokers (CBB) Represents Houston Top-Tier Graphic Design Firm, Gateway Design, Inc., in Sale of Business

Certified Business Brokers (CBB) Represents Houston Top-Tier Graphic Design Firm, Gateway Design, Inc., in Sale of Business HOUSTON, TX--(Marketwire - April 14, 2011) - Gateway Design, Inc., established over 20 years ago, was sold by founder and owner Connie Senter to Chris Norton and Sanjay Parikh of Houston, partners at Norton and Park, Inc. The Company, headquartered in Houston, is a pioneer of the graphics design industry with a Fortune 500 client list. They provide a complete portfolio of graphic design and marketing services across a broad spectrum of online and print media. "After 22 years of overseeing daily operations of the firm, my age told me it was time to sell the business," said Senter. She engaged Frank Stabler of Certified Business Brokers in Houston to market the business and represent the Company during the entire sale process. Gateway was very attractive to buyers because of its history as a pioneer in the graphic design industry. The Company was instrumental in the advent of com ...

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