23 Great Business Ideas as a Second Careers

| January 29, 2017

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Here are 23 Great Business Ideas as a Second Careers

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Cardinal Mark, Inc.

Cardinal Mark is a retained executive search practice dedicated to delivering competitive advantage to our clients. We provide targeted search and recruiting for Technology and Process driven business's. Our state-of-the-art research based recruiting methodology identifies, targets and allows clients access to the top talent they desire.

OTHER ARTICLES

5 Ways To Locally Advertise Your Small Business

Article | April 5, 2020

Many small businesses have a minimal budget when it comes to advertising, and that can hold them back. It’s not impossible, but it takes a lot more consideration as to where and how you spend that money for maximum exposure and benefit. Before the internet, adverts in the phone book or the local newspaper were the norm, as well as traditional methods such as flyers and posters. These days, small businesses are aware of the importance of search engine optimization (SEO) and the need to rank highly on Google, but the reality is that they also need to focus on hyper-local methods of advertising. In this article, we look at a few ways in which you can do this.

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The Four Most Conventional Small Business Legal Issues Confronted

Article | September 1, 2021

While small business owners are typically preoccupied with the day-to-day operations of their businesses, they frequently ignore the small business legal issues and obstacles that they are likely to encounter in the future. Thus, it is a pressing need of an hour, majorly after the COVID-19, to identify their legal challenges and be well prepared for them. The neglected or untimely addressing of the legal issues could cost you a big deal and prove disastrous, and might even be challenging to recover. This article will describe legal issues affecting businesses and how to avoid them tactfully. There are myriad essential aspects of the business to be considered, such as overhead costs, marketing, employee management, business & marketing budget, etc. Among all these, legal aspects of business also hold a similar level of importance but are usually underestimated issues for business. Legal counsel from a reputable legal firm can guide you in identifying prospective issues and preparing for the future. Spend time ensuring that your firm is legally solid. Here are the most common small business legal issues encountered, and you should be cautious about. Establishing the Wrong Business Structure Establishing the wrong business structure stands first in the list of legal issues and is also critical. The business entity is classified into sole proprietorship, partnership, LLC, S-Corp, or C-Corp, and each has its own set of tax structure and legal obligations. However, registering under the wrong ones has a severe repercussion. Business law issues are not limited to tax laws; state and federal legislation changes may also impact a company's risk profile. Contracts are another significant legal issue raised by COVID-19. Unfortunately, once the courts begin to normalize their work environment, precedence will be given to criminal and family law proceedings. Thus, resulting in delays in contract disputes, which will have to wait years to be resolved. Inadequate Protection of Intellectual Property Businesses are constantly developing new and distinctive ideas, technologies, products, and marketing strategies. However, many small business owners believe that intellectual property issues are not their responsibility and only large corporations deal with them. This is the reason often these legal aspects of business are a common issue among small businesses. It is advisable to do in-depth research before naming your business or launching any new products or services to avoid using and enforcing identical trademarks, which will count as infringement. The consequences of infringement are atrocious. The owner will have to alter their name and suffer legal consequences, including damages and attorney's costs. Without trademark registration, ventures risk losing the right to their branding, wiping out years of effort and investment. Securing a trademark registration precludes the occurrence of any of these issues and inconveniences. It is needful to protect intellectual property and law for small businesses. So, consult an expert attorney or business adviser to identify what should be secured by copyright, patent, or trademark. Improper Licensing Every business must have a valid license to operate. However, it may be perplexing and challenging for novice business owners. Before you may lawfully trade, you must obtain a license. Improper licensing leads to business law issues and is one of the most common small business legal issues. Government licensing requirements vary according to the kind, size, and location of the firm. Additionally, the business license is contingent upon the goods or services provided by the business. Therefore, licensing costs vary according to location. Obtaining a license for your particular business demonstrates that you are knowledgeable about your industry and are capable of operating the appropriate equipment. If you are discovered conducting business without the proper license, you may face severe fines or possibly have your business activities halted. An experienced small business lawyer will help you through the paperwork and ensure that your business is properly licensed. Not Hiring or Firing Employees the Right Way Among many legal concerns, one of the most frequent business legal issues for small businesses are improper employment or termination of workers. Unfortunately, numerous small business owners make the error of employing or terminating staff without proper paperwork or agreement. Inadequately executed agreements or employee contracts expose your small business to litigation. Having a written contract is necessary and differs as per the employees whether they are full-time, part-time, and casual. The written contract includes information about the employee and employment details such as: Stipulate payment Rights and responsibilities of the employees Benefits Termination clauses Date the contract was signed Potential reasons for termination The employment contract needs to clarify the terms of employment, conduct, grounds of termination, expected behavior from employees, etc. Employees are asked to abide by this contract. In case of violation, within your legal rights, you can terminate their employment and safeguard every small business's needs. If you have employees or contractors, you must adhere to small businesses' federal and state employment laws. Conclusion Dealing with the legal aspects of business is not a pleasant task, but you cannot ignore it, and if you do, you may have to pay the price. Small business legal issues are critical business law issues that impact a large number of small business owners. Few small business owners are familiar with the legal elements of a business. It is crucial to engage a legal team to assist you in navigating it smoothly and avoiding the danger of destroying the future of your business. Frequently Asked Questions: What are the primary legal issues that small businesses face? Small businesses face many legal issues in their business operation, but the major ones are: Establishing the Wrong Business Structure Shareholders' Agreement Improper Licensing Inadequate Protection of Intellectual Property Not Hiring or Firing Employees the Right Way Response to Changes in the Law and Regulations Employee Termination How can a business overcome legal issues? Below are few tips for businesses to overcome legal issues: Recognize your regulations Inform yourself about labor laws. Acquaint yourself with intellectual property Select the appropriate attorney Maintain Vigilance { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What are the primary legal issues that small businesses face?", "acceptedAnswer": { "@type": "Answer", "text": "Small businesses face many legal issues in their business operation, but the major ones are: Establishing the Wrong Business Structure Shareholders' Agreement Improper Licensing Inadequate Protection of Intellectual Property Not Hiring or Firing Employees the Right Way Response to Changes in the Law and Regulations Employee Termination" } },{ "@type": "Question", "name": "How can a business overcome legal issues?", "acceptedAnswer": { "@type": "Answer", "text": "Below are few tips for businesses to overcome legal issues: Recognize your regulations Inform yourself about labor laws. 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HOW SOME SMALL BUSINESSES ARE MAKING IT DURING THE COVID-19 CRISIS

Article | March 20, 2020

The spread of the novel coronavirus across Massachusetts has brought big changes to businesses of all sizes and their customers. CDC and Massachusetts DPH guidance urges consumers to avoid getting up-close and personal with each other. Government mandates have forced many types of businesses to close their doors to customer crowds. As we all work to protect ourselves and each other through social distancing, several Woburn firms in the Cummings Properties portfolio have hit upon ways to keep a small business healthy through the COVID-19 crisis. Check out these creative solutions that are allowing our client firms to bring their services to a largely homebound public.

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4 Basic Tips To Reduce Risk for Small Businesses

Article | March 24, 2020

In the realm of Hollywood films, if you build it they will come. In the real world, they often won't. The high failure rate of small businesses is well-chronicled. However, there are ways to mitigate risks and maximize your chance at entrepreneurial success. Here are a few tips for ensuring your venture doesn't become a fatal statistic in a hypercompetitive and dynamic marketplace, per interview with Inc.com.

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Spotlight

Cardinal Mark, Inc.

Cardinal Mark is a retained executive search practice dedicated to delivering competitive advantage to our clients. We provide targeted search and recruiting for Technology and Process driven business's. Our state-of-the-art research based recruiting methodology identifies, targets and allows clients access to the top talent they desire.

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