Know the Why’s and How’s of Small Business Registration

Sneha Hull | April 1, 2022 | 75 views

Small Business Registration
“Do I need to register my business?” “How do I go ahead with my small business registration?” These are some of the most commonly asked questions. Business registration is the first step toward publicizing your enterprise. Establishing a business and the registration requirements may vary according to the firm type, size, and stage of business development.

To protect the legal security of both your personal and commercial assets, you must register your business with the government. It is not necessary to register if you run a business under your legal name. However, business registration is strongly recommended to prevent losing out on personal responsibility protection, legal perks, and tax benefits. Let's delve into the specifics of how to register, what  are the registration requirements, and why it is necessary.

Pre-business Registration Requirements

Before you register, there are a few small business registration requirements that must be considered.

Identify Your Business Structure

Several business structures are available, each with its own set of expenses, risks, and tax ramifications. Your priorities determine the business structure you choose as a business owner.

The design of your firm will determine:
  • The processes for registering your business and paying your taxes
  • As a business owner, you bear financial responsibilities.
  • Your ability to obtain loans and other forms of financing from banks and other sources

There are different types of business structures you can opt for, each having its own set of advantages and disadvantages. This includes sole proprietorship, general or limited partnership, corporation (or C-Corporation), limited liability company (LLC), and limited liability partnership (LLP). The business structure you pick has a significant impact. This section provides an overview of some of the most used company structures.

Sole proprietorship: This is an example of a standard business structure. If you conduct a business without establishing a business structure, you are regarded as the sole proprietor.

Partnership: This is the business structure for two or more individuals who co-own a business.

Limited Liability corporation: This business structure enables the proprietor to safeguard personal assets against the firm's liabilities.

C-Corp: This structure separates the business from the owners and provides the greatest security for an owner's personal assets.

Pick A Business Location

Choosing a business location or address requires careful consideration. The business registration process and business taxes vary by state. The type of business you conduct determines your firm’s location.

Some questions you need to ask yourself:
  • Will your firm provide a service, sell things, or both?
  • What is your target audience?
  • Can you afford the rent, utilities, and other business-related costs at that particular location?
  • Will the staff, suppliers, and consumers be conveniently accessible?

Selection of a business location is an important deciding factor in small business registration.

Pick Your Business Name

Selecting an appropriate business name is a critical step in the business registration process after selecting the company location because it helps register a business name. A legal name or brand name can depend on your firm's structure and location in the United States.

It would be best if you found answers to a few of the below questions:
  • Is the name straightforward and distinct?
  • Is the domain name still available for registration?
  • Is the name appropriate for your business and brand?
  • Is the company name already in use?

How to Register Your Business?


Register Your Business Name

“How do I register my business name?” This is the first and foremost question that comes to the minds of business owners. You can register your legal name as your business name by filing paperwork such as articles of incorporation or articles of organization at the state level. However, documentation requirements vary according to the business structure and location.

If you use your brand name instead of your legal name, there are some jurisdictions that might require you to register under a DBA (doing business as) name. Here is one example:

Kat launched a business  with a vintage clothing line. She formed an LLC and registered "Kat's Vintage Resale, LLC." The concern here was that the LLC does not reflect her store's branding; she would prefer to operate under the name "Kat's Vintage Resale." In this case, she can file for a DBA name.

Once your DBA is registered with your state or county clerk, the name becomes inaccessible to others. However, it may be used to execute contracts and establish a company bank account.

Register with the Internal Revenue Service (IRS)

Internal revenue service (IRS) business registration is required to receive an employer identification number (EIN). It helps you recruit staff and open a business bank account. As a result, this registration step is deemed critical.

For tax purposes, the EIN is used in the same way as a social security number. If you own a small business as a sole proprietor, you do not always require an EIN. However, it is advisable that you register with the IRS and receive an EIN to take advantage of the benefits that come with it. Apart from this, it also includes the following:
  • Increases business credibility helping you to enrol vendors, suppliers, and creditors
  • Ability to apply for government contracts

Obtain Business Licenses/Permits

You may need to obtain certain federal, state, or local business licenses or permits. The licenses you need will depend on your company’s structure.

A business license is a vital document that allows you to run your firm. As a business owner, to receive a license as a business owner, you must register. Licenses are generally granted after thoroughly inspecting them.

Most small enterprises require a mix of federal and state licenses and permits.
All the above steps are important in registering businesses and should be seriously looked into.

Why Do You Need to Register Your Business?

"Do I need to register my business?" It depends on the type of firm you have, its location, and sector. Business registration benefits the firm in a number of ways, from providing an advantage in the marketplace to securing its legal stability and from reducing tax liabilities to limiting liability.

Moreover, registering businesses brings numerous advantages. Some of them are as follows:
  • It ensures that you comply with applicable federal, state, and/or local laws
  • By registering a trademark, you can safeguard your business's unique logo and brand identity against infringement
  • Can prevent the legal hassle
  • It enables you to exert control over how the government perceives your firm

Conclusion

Small business registration has a significant role to play as it offers numerous benefits. Now that you know why and how to proceed with small business registration, go ahead and register your firm. Once the registration procedure is completed, your business will be regarded as a legal entity. Registration will ensure the hassle-free, smooth, and seamless operation of a business and its growth.

FAQ


Why is business registration important?

Registration of a business is important for the formation of a brand identity. Additionally, it helps to build a brand reputation among consumers and stakeholders.

What are the advantages of registration?

The biggest advantages of registration are:
  • Legal entity
  • Limited liability
  • Getting loans

What is business registration?

Registration of a business entails submitting an application with pertinent information about the enterprise. Thorough research to ensure no one else is using the same name.

Spotlight

iBeta Quality Assurance

Founded in 1999 and located in metro Denver, Colorado, iBeta Quality Assurance specializes in “QA on Demand” for software: functionality, compatibility, security, load/performance, code review, test plan engineering, automation testing, biometrics certifications, biometric system testing, and more, for websites, mobile apps, desktop/server applications, set-top boxes, and other platforms, with no subscriptions, retainers, or other long-term contracts. All work is conducted in our own secure building by highly-trained and experienced testing staff. iBeta is the trusted partner of companies across the U.S. and the world, from Fortune 500 firms to scrappy startup ventures that might one day be the next big thing.

OTHER ARTICLES
MANAGEMENT

Emergence of 5G Presents a World of Opportunity to Small Businesses

Article | February 1, 2022

Together with 'artificial intelligence' (AI) and 'machine learning,' 5G has emerged as a hot topic in the tech industry over the last couple of years. There's a lot of buzz about the next generation mobile network's technological capabilities, and for good reason: faster, more consistent, and higher bandwidth mobile connectivity can open up new levels of productivity, versatility, and opportunity for small businesses. Benefits Motivating Small Businesses to Invest in 5G The world may be in for a devastating recession as a result of the war's impact and the emergence of new waves of coronavirus pandemic. This is encouraging enterprises to prioritize digital transformation. Digital innovation helps to develop tools and strategies that businesses can use to overcome challenges and solve complex problems. Improved hardware and smarter software enable data collection and analysis for scalability.With its promising strength of connectivity, exceptional frequency of data transfers, and high-speed, 5G technology can foster digital innovation, especially among small and medium-sized businesses (SMBs), allowing a wide range of highly skilled workers to work from any location or workplace. Here are some major benefits, encouraging SMBs to invest in 5G, as follows: Provide businesses with increased operational flexibility. Increasing the sales channel's productivity. Creates an intuitive supply chain. Facilitate access to cutting-edge technologies such as augmented and virtual reality (AR and VR). Improves workforce functionality and safety by lowering latency. Enhances the customer experience. A Plethora of Opportunities for Small Businesses With a projected annual growth rate of around 97 percent and 40 percent of the population around the world using internet of things (IoT) apps on a 5G network, the new digital technology has the potential to create an incremental opportunity of around $251 trillion by 2025. A large number of businesses, irrespective of size or industry, are considering preparing themselves for the deployment of advanced 5G technology to benefit them and their customers. In addition, the deepening trend of digital transformation and the incorporation of cloud technologies are presenting a wide range of opportunities for businesses to scale up their connectivity, reach, and productivity.

Read More
MANAGEMENT

Cyberattacks: Surfacing Threat to Small Businesses

Article | September 13, 2021

The internet has transformed into a modern-day silk road that supports almost all aspects of modern life. Growing penetration of the internet has made it possible for businesses of all sizes to reach all parts of the sector and access previously inaccessible areas, increasing productivity via the use of digital tools. Any business strategy that involves using computers online, even if only for an email and a website, needs to include cybersecurity measures. The theft of data and digital information is now more common than other types of theft and is becoming one of the most commonly reported types of fraud. Impact of Cyberattacks on Small and Medium-Sized Businesses Cybersecurity is emerging as one of the most serious economic and security challenges for businesses all around the world. It is not just a threat to big businesses, multinational corporations, and governments, but they are a major problem for small businesses too. According to a recent study, nearly 22% of small businesses have been the targets of cyberattacks. Also, around 46% of the security breaches were reported across small and midsize businesses in 2021. A cyberattack can have a devastating impact on enterprises, especially on small businesses. In fact, about 60 percent of small enterprises that are attacked and experience a breach shut their business within six months. Not just this, there are more detrimental repercussions that businesses can encounter, including the following: Financial losses due to business disruption Financial losses brought on by the theft of financial data High costs to remove threats from the network Reputational harm following disclosure of data breach to customers Demand for Cybersecurity Making SMBs Hotspot for Investment The need for effective cybersecurity measures increases in lockstep with the increasing number of organizations expanding their operations online. In addition, the rising incidence of security breaches, data theft, and others in small and medium-sized businesses (SMBs) is mandating these enterprises to adopt security solutions such as data backup solutions, encryption software, and password-security software, making them the center point for investment. Attributed to this, the prominent providers of cybersecurity solutions are focusing on coming up with advanced security software specially designed for SMBs.

Read More
MANAGEMENT,BUSINESS STRATEGY

HR Trends in Small Businesses 2022: Embracing the New Normal

Article | July 5, 2022

The global workforce is coping with the new normal that includes — remote or hybrid work, new laws and regulations regarding the COVID-19 pandemic, and increased interest in employee health and wellness programs. The HR departments of small businesses are adapting to these changes. So, let us take a quick look at what to expect in 2022: Priority: Diversity and Inclusion Small business HR departments will prioritize diversity and inclusion in the workplace for talent acquisition, employee engagement, and retention Advancement: Automated HR Processes HR will use technology to streamline onboarding and recruiting processes in 2022 Environment: Remote Work The possibility of long-term remote work with technology and new policies is on the horizon Interaction: Virtual Employee Engagement SMBs must work towards engaging their employees through virtual meetings, employee surveys, and clear communication Support: Employee Health and Wellbeing Small business leaders should step-up to support their employees’ well-being through a healthy and flexible work environment Enhancement: Improved Employee Benefits The focus will be on increasing healthcare benefits, flexible work arrangements, and health wellness programs New Leave Policies: Paid Sick Leave Small business HRs need to be aware of new paid sick leave policies and accommodations to help employees cope with the pandemic Health Advisory: COVID-19 Vaccination for Employees Small businesses need to take proper precautions if mandating a compulsory COVID-19 vaccination policy Compliance: Burdened HR Departments Modified employee labor laws will require HR departments to modify their HR strategies frequently Drug-testing Laws: Impact on Drug-free Work Policies Medical marijuana usage policies differ across states, so HR departments will need to remain up-to-speed with them A Productive 2022 for Small Businesses Small businesses’ HR departments are working to retain, engage, and safeguard employees to lead their companies towards a productive 2022. However, they need to be diligently compliant and offer lucrative benefits to employees to sustain and grow their business.

Read More
TECHNOLOGY,SMALL BUSINESS ADVICE

Reasons Why Small Businesses Need CRM?

Article | June 30, 2022

CRMs, as highly customizable software, can be tailored to any small business. From an e-commerce business to an educational service to a logistics firm, every industry benefits from CRM integration to manage, organize, automate, and grow revenue and operations. The CRM industry has grown by 600% since 2010. It is expected to generate $80 billion in revenue by 2025. 6 Reasons Every Small Business Needs CRM It aids in the collection and organization of customer data:CRM solutions enable cleaner customer data. Data mining and enrichment are automated and standardized to ensure that nothing is overlooked. Data duplication is impossible with advanced duplicate prevention features. Advanced Database Segmentation Enables Personalized Communication with Leads:Personalization is expected by 63 % as a standard of service, and they believe they are recognized as individuals when they receive special offers. A CRM solution enables you to effectively personalize your communication with leads. Most small business CRM systems include advanced segmentation filters and tags that allow you to divide your audience into smaller groups based on a variety of criteria. Beneficial to run well-managed email campaigns: Email marketing can generate a 44.4 % ROI, generating $44 in revenue for every $1 spent. According to Hubspot, 93 % of B2B marketers use email to share content, and 59% say email is their top ROI driver. Email marketing is extremely cost-effective and scalable and generates considerably higher quality leads for your small business. Enables you to keep track of the sales process: The CRM system visualizes your sales process, highlighting the points where leads frequently abandon ship. This allows you to quickly identify threats and opportunities, as well as weaknesses and strengths. Avoids missed lead opportunities:CRM systems make sure that small businesses never miss a lead. Even if the sales rep goes on a different route, the lead will still get recorded with efficiency. Increases Sales Performance: Businesses that have integrated CRM into their operations report a 34% increase in sales productivity. CRM automatically populates customer profiles with data, schedules mailouts, and relieves you of the responsibility of monitoring your inbox. It keeps track of your agenda and keeps an eye on your calendar. In a nutshell, CRM frees up your time for more important tasks such as understanding your customers' needs or selling. For effective expansion of business and increasing sales, small businesses-integrating CRM software will serve with endless benefits.

Read More

Spotlight

iBeta Quality Assurance

Founded in 1999 and located in metro Denver, Colorado, iBeta Quality Assurance specializes in “QA on Demand” for software: functionality, compatibility, security, load/performance, code review, test plan engineering, automation testing, biometrics certifications, biometric system testing, and more, for websites, mobile apps, desktop/server applications, set-top boxes, and other platforms, with no subscriptions, retainers, or other long-term contracts. All work is conducted in our own secure building by highly-trained and experienced testing staff. iBeta is the trusted partner of companies across the U.S. and the world, from Fortune 500 firms to scrappy startup ventures that might one day be the next big thing.

Related News

MANAGEMENT,FINANCE

National Partners PFco Acquires Security Premium Finance Company, LLC

WebBank | August 08, 2022

National Partners PFco (“National Partners”), a wholly owned subsidiary of WebBank, announced it has acquired Security Premium Finance Company, LLC (“Security Premium Finance”). Security Premium Finance is a privately held premium finance company founded in 1995 by Bert Irigoyen and based in Coral Gables, Florida. Security Premium Finance provides insurance premium financing services for commercial and consumer clients to purchase property and casualty insurance products in Florida. This acquisition provides National Partners with diversification, geographic market opportunities and a competitive advantage in the industry. As part of the acquisition all Security Premium Finance employees are now employees of National Partners.We have been long impressed with the expertise and success of Security Premium, demonstrated by strong customer loyalty and earned through delivery of unparalleled customer service,” said Bruce Lundy, President of National Partners. Security Premium’s partnership with National Partners will allow us to mutually expand and grow throughout Florida and beyond. “We believe National Partners is a strong strategic fit for Security Premium Finance that will allow us to grow exponentially in the Florida market and expand into other states,The Security Premium Finance team is excited to join forces with the National Partners team.” -Bert Irigoyen, President of Security Premium Finance. About National Partners Dedicated to providing the highest standards in the premium finance industry, National Partners, a wholly owned subsidiary of WebBank, works with clients of all sizes through its commercial insurance agent and broker relationships. Responsive service, ease of use and creative solutions are its hallmarks. It also offers funding programs to third-party premium finance companies, often those affiliated with agents, brokers, and MGAs, so that these smaller premium finance companies can access capital to grow and expand. About WebBank WebBank is a Utah chartered Industrial Bank headquartered in Salt Lake City, Utah. Since its inception in 1997, WebBank has originated and funded over $155 billion in consumer and commercial credit products. As “The Bank Behind the Brand®”, WebBank is a national issuer of consumer and small business credit products through Strategic Partner (Brand) platforms, which include retailers, manufacturers, finance companies, software as a service (SaaS) and financial technology (FinTech) companies. The Bank is a leading player in the digital lending space, driving innovation in financial products through embedded finance with Strategic Partner platforms. WebBank engages in a full range of banking activities including consumer and commercial loan products, revolving lines of credit, credit cards, private-label card issuance, auto-refinancing and more. The Bank provides capital in the form of asset-backed lending and other credit facilities to Strategic Partner platforms, credit funds, and other lenders with a targeted focus on specialty finance assets. The Bank is also a leading provider of commercial insurance premium finance products through its wholly owned subsidiary National Partners and Security Premium Finance, a wholly owned subsidiary of National Partners. For more information, please visit www.webbank.com.

Read More

FINANCE, SMALL BUSINESS ADVICE

Deltek Announces Newest Program - Deltek Pro™ Bookkeepers - To Help Small Businesses Find Bookkeeping Professionals with Industry and Deltek Solution

Deltek | September 23, 2022

Deltek, the leading global provider of software and solutions for project-based businesses, has introduced a new partner program – Deltek Pro Bookkeepers – designed to make it easier for small businesses to find trusted accounting professionals experienced in their firm's needs, who also have expert knowledge of Deltek solutions. Initially launched for small government contractors, Deltek Pro Bookkeepers helps businesses maximize the value of Deltek Costpoint by managing back-office operations faster, more accurately, more cost effectively and within compliance.Deltek identified the additional challenges and needs of its small business customers – unlike midsized and large enterprises, a small business's accounting is typically managed by a small staff with limited resources. The Deltek Pro Bookkeepers partner program helps solve that issue by connecting Deltek Costpoint customers with expert bookkeepers in their industry. "When a smaller firm is ready to graduate from QuickBooks® or similar generic accounting systems to a purpose-built ERP solution like Deltek, the firm may need support running their back-office functions. With Deltek Pro Bookkeepers, Deltek is helping small businesses connect the advisors that know our solutions the best, so customers will get experienced support from experts in their industry who are also experts in their ERP and accounting solutions. Firms will not only accelerate the time to value with their Deltek solution, but also meet their business goals faster,Deltek Pro Bookkeepers will be a game changer for small businesses using Costpoint." Pete Mann, SVP of Corporate Development & Product Alliances at Deltek Deltek Pro Bookkeepers are trained professionals that not only understand Deltek solutions, but also understand small businesses and meeting the needs of the government contracting industry. Deltek Partners Premier Consulting & Integration (PCI), Redstone Government Consulting and CRI are currently participating in the Deltek Pro Bookkeepers program, with additional Deltek Pros anticipated to join in the coming months and years. Firms that take advantage of the services offered through Deltek Pro Bookkeepers will get access to services including journal entry, time & expense processing, accounts payable, month-end close, reporting, and more. While Deltek Pro Bookkeepers has launched for Costpoint customers, more Deltek Pros™ services for other Deltek solutions are planned to launch in 2023. About Deltek Better software means better projects. Deltek is the leading global provider of enterprise software and information solutions for project-based businesses. More than 30,000 organizations and millions of users in over 80 countries around the world rely on Deltek for superior levels of project intelligence, management, and collaboration. Our industry-focused expertise powers project success by helping firms achieve performance that maximizes productivity and revenue

Read More

BUSINESS STRATEGY

Thryv Partners with Fora Financial to Offer Capital That Helps Small Businesses Grow

Fora Financial | September 22, 2022

Thryv Holdings, Inc, the small business platform for growing small- to medium-sized businesses, announced a partnership with Fora Financial to offer small businesses access to the capital they need to grow.Fora Financial will now be offered through Thryv’s growing marketplace, allowing business owners to apply for lending in minutes. Fora Financial offers terms up to 15 months, flexible payments, early pay-off discounts, and no restrictions on use of funds. The partnership offers a range of financing amounts from $5,000 to $750,000 with no collateral required. Small Business Administration (SBA) 7(a) loans, the most common in SBA’s portfolio, require collateral if the loan amount is greater than $25,000. The approval process for Fora Financial financing occurs in less than 24 hours, and once a financing is approved and terms have been accepted, capital is available in 72 hours. We have always been committed to helping small businesses solve a variety of needs, and in the current economic climate, helping them gain access to capital is a priority, said Ryan Cantor, chief product officer at Thryv. Whether it’s adding a truck to their fleet or a game-changing piece of equipment, small businesses have evolving needs and Thryv helps solve them. “At Fora Financial, we are dedicated to providing small businesses with the fast, uncomplicated funding solution they require to succeed, As the economic environment continues to change, our consultative approach to understanding small business’ needs will offer the Thryv community the working capital required to grow and thrive.” Fora Financial president Andrew Gutman Thryv clients have seen significant advantages to joining the platform, including a 25% rise in the number of average customers, 61% increase in number of appointments booked, and 86% growth in annual revenue through bookings and payments. Learn more about the platform, including free, unlimited support 24/7 from small business specialists at thryv.com. About Thryv Holdings, Inc. Thryv Holdings, Inc. (NASDAQ:THRY) is a global software and marketing services company that empowers small- to medium-sized businesses (SMBs) to grow and modernize their operations so they can compete and win in today’s economy. Over 46,000 businesses use our award-winning SaaS platform, Thryv®, to manage their end-to-end operations, which has helped businesses across the U.S. and overseas grow their bottom line. Thryv also manages digital and print presence for over 400,000 businesses, connecting these SMBs to local consumers via proprietary local search portals and local directories. For more information about Thryv Holdings, Inc., visit thryv.com. About Fora Financial Fora Financial is a leading business financing lender that has provided over $2 billion to more than 25,000 business owners nationwide. Fora Financial offers flexible financing solutions to small and medium sized businesses in need of additional working capital to sustain or grow their enterprise. The company places a high value on transparency and provides businesses with fast, personalized small business loans and revenue advances, leveraging its state-of-the-art proprietary technology, industry-leading sales capabilities and dedicated customer service. Founded in June 2008, Fora Financial employs over 200 people at its New York City, Miami and California locations.

Read More

MANAGEMENT,FINANCE

National Partners PFco Acquires Security Premium Finance Company, LLC

WebBank | August 08, 2022

National Partners PFco (“National Partners”), a wholly owned subsidiary of WebBank, announced it has acquired Security Premium Finance Company, LLC (“Security Premium Finance”). Security Premium Finance is a privately held premium finance company founded in 1995 by Bert Irigoyen and based in Coral Gables, Florida. Security Premium Finance provides insurance premium financing services for commercial and consumer clients to purchase property and casualty insurance products in Florida. This acquisition provides National Partners with diversification, geographic market opportunities and a competitive advantage in the industry. As part of the acquisition all Security Premium Finance employees are now employees of National Partners.We have been long impressed with the expertise and success of Security Premium, demonstrated by strong customer loyalty and earned through delivery of unparalleled customer service,” said Bruce Lundy, President of National Partners. Security Premium’s partnership with National Partners will allow us to mutually expand and grow throughout Florida and beyond. “We believe National Partners is a strong strategic fit for Security Premium Finance that will allow us to grow exponentially in the Florida market and expand into other states,The Security Premium Finance team is excited to join forces with the National Partners team.” -Bert Irigoyen, President of Security Premium Finance. About National Partners Dedicated to providing the highest standards in the premium finance industry, National Partners, a wholly owned subsidiary of WebBank, works with clients of all sizes through its commercial insurance agent and broker relationships. Responsive service, ease of use and creative solutions are its hallmarks. It also offers funding programs to third-party premium finance companies, often those affiliated with agents, brokers, and MGAs, so that these smaller premium finance companies can access capital to grow and expand. About WebBank WebBank is a Utah chartered Industrial Bank headquartered in Salt Lake City, Utah. Since its inception in 1997, WebBank has originated and funded over $155 billion in consumer and commercial credit products. As “The Bank Behind the Brand®”, WebBank is a national issuer of consumer and small business credit products through Strategic Partner (Brand) platforms, which include retailers, manufacturers, finance companies, software as a service (SaaS) and financial technology (FinTech) companies. The Bank is a leading player in the digital lending space, driving innovation in financial products through embedded finance with Strategic Partner platforms. WebBank engages in a full range of banking activities including consumer and commercial loan products, revolving lines of credit, credit cards, private-label card issuance, auto-refinancing and more. The Bank provides capital in the form of asset-backed lending and other credit facilities to Strategic Partner platforms, credit funds, and other lenders with a targeted focus on specialty finance assets. The Bank is also a leading provider of commercial insurance premium finance products through its wholly owned subsidiary National Partners and Security Premium Finance, a wholly owned subsidiary of National Partners. For more information, please visit www.webbank.com.

Read More

FINANCE, SMALL BUSINESS ADVICE

Deltek Announces Newest Program - Deltek Pro™ Bookkeepers - To Help Small Businesses Find Bookkeeping Professionals with Industry and Deltek Solution

Deltek | September 23, 2022

Deltek, the leading global provider of software and solutions for project-based businesses, has introduced a new partner program – Deltek Pro Bookkeepers – designed to make it easier for small businesses to find trusted accounting professionals experienced in their firm's needs, who also have expert knowledge of Deltek solutions. Initially launched for small government contractors, Deltek Pro Bookkeepers helps businesses maximize the value of Deltek Costpoint by managing back-office operations faster, more accurately, more cost effectively and within compliance.Deltek identified the additional challenges and needs of its small business customers – unlike midsized and large enterprises, a small business's accounting is typically managed by a small staff with limited resources. The Deltek Pro Bookkeepers partner program helps solve that issue by connecting Deltek Costpoint customers with expert bookkeepers in their industry. "When a smaller firm is ready to graduate from QuickBooks® or similar generic accounting systems to a purpose-built ERP solution like Deltek, the firm may need support running their back-office functions. With Deltek Pro Bookkeepers, Deltek is helping small businesses connect the advisors that know our solutions the best, so customers will get experienced support from experts in their industry who are also experts in their ERP and accounting solutions. Firms will not only accelerate the time to value with their Deltek solution, but also meet their business goals faster,Deltek Pro Bookkeepers will be a game changer for small businesses using Costpoint." Pete Mann, SVP of Corporate Development & Product Alliances at Deltek Deltek Pro Bookkeepers are trained professionals that not only understand Deltek solutions, but also understand small businesses and meeting the needs of the government contracting industry. Deltek Partners Premier Consulting & Integration (PCI), Redstone Government Consulting and CRI are currently participating in the Deltek Pro Bookkeepers program, with additional Deltek Pros anticipated to join in the coming months and years. Firms that take advantage of the services offered through Deltek Pro Bookkeepers will get access to services including journal entry, time & expense processing, accounts payable, month-end close, reporting, and more. While Deltek Pro Bookkeepers has launched for Costpoint customers, more Deltek Pros™ services for other Deltek solutions are planned to launch in 2023. About Deltek Better software means better projects. Deltek is the leading global provider of enterprise software and information solutions for project-based businesses. More than 30,000 organizations and millions of users in over 80 countries around the world rely on Deltek for superior levels of project intelligence, management, and collaboration. Our industry-focused expertise powers project success by helping firms achieve performance that maximizes productivity and revenue

Read More

BUSINESS STRATEGY

Thryv Partners with Fora Financial to Offer Capital That Helps Small Businesses Grow

Fora Financial | September 22, 2022

Thryv Holdings, Inc, the small business platform for growing small- to medium-sized businesses, announced a partnership with Fora Financial to offer small businesses access to the capital they need to grow.Fora Financial will now be offered through Thryv’s growing marketplace, allowing business owners to apply for lending in minutes. Fora Financial offers terms up to 15 months, flexible payments, early pay-off discounts, and no restrictions on use of funds. The partnership offers a range of financing amounts from $5,000 to $750,000 with no collateral required. Small Business Administration (SBA) 7(a) loans, the most common in SBA’s portfolio, require collateral if the loan amount is greater than $25,000. The approval process for Fora Financial financing occurs in less than 24 hours, and once a financing is approved and terms have been accepted, capital is available in 72 hours. We have always been committed to helping small businesses solve a variety of needs, and in the current economic climate, helping them gain access to capital is a priority, said Ryan Cantor, chief product officer at Thryv. Whether it’s adding a truck to their fleet or a game-changing piece of equipment, small businesses have evolving needs and Thryv helps solve them. “At Fora Financial, we are dedicated to providing small businesses with the fast, uncomplicated funding solution they require to succeed, As the economic environment continues to change, our consultative approach to understanding small business’ needs will offer the Thryv community the working capital required to grow and thrive.” Fora Financial president Andrew Gutman Thryv clients have seen significant advantages to joining the platform, including a 25% rise in the number of average customers, 61% increase in number of appointments booked, and 86% growth in annual revenue through bookings and payments. Learn more about the platform, including free, unlimited support 24/7 from small business specialists at thryv.com. About Thryv Holdings, Inc. Thryv Holdings, Inc. (NASDAQ:THRY) is a global software and marketing services company that empowers small- to medium-sized businesses (SMBs) to grow and modernize their operations so they can compete and win in today’s economy. Over 46,000 businesses use our award-winning SaaS platform, Thryv®, to manage their end-to-end operations, which has helped businesses across the U.S. and overseas grow their bottom line. Thryv also manages digital and print presence for over 400,000 businesses, connecting these SMBs to local consumers via proprietary local search portals and local directories. For more information about Thryv Holdings, Inc., visit thryv.com. About Fora Financial Fora Financial is a leading business financing lender that has provided over $2 billion to more than 25,000 business owners nationwide. Fora Financial offers flexible financing solutions to small and medium sized businesses in need of additional working capital to sustain or grow their enterprise. The company places a high value on transparency and provides businesses with fast, personalized small business loans and revenue advances, leveraging its state-of-the-art proprietary technology, industry-leading sales capabilities and dedicated customer service. Founded in June 2008, Fora Financial employs over 200 people at its New York City, Miami and California locations.

Read More

Events