Welcome to the Chamber business news section. To assist our Chamber members in minority certifying their businesses, marketing their business or securing loans for their business, we have scheduled various seminars, workshops and conferences throughout the year that we invite you to attend. To receive updates on these programs, you can subscribe to our mailing list to receive weekly alerts. Additionally, with your subscription you qualify for a free Small Business Solutions and Legal consultation. Please also visit our membership page to become a member of the Chamber.
– by Marilyn Silverman
Are you an entrepreneur who is frustrated and perplexed and simply overwhelmed by the plethora of rules and regulations out there and are just at your wit's end since you don't have the foggiest idea who you can turn to for help? You took a huge step and exited the world of 9-5 and are now anxious to attach that Open for Business sign on your retail establishment. But before you climb that ladder you must make an appointment with the New American Chamber of Commerce Small Business Solutions. NACC's Small Business Solutions consultations are facilitated through the Law Firm of Figeroux & Associates. We have the answers. We have the expertise. We have the knowledge. We have the experience. And we have compassion and respect for the small business owner who wants to achieve the American Dream of business ownership. Here's how we can help:
If you are running a home-based business which incidentally is a very popular business genre today—your office can be but a few steps away in your kitchen, bedroom, basement, attic or wherever —you might just qualify for home business tax deductions. You just started your business and already we're saving you money.
If you are operating a business you will need an accountant to help you pay your taxes every year; all those pages and pages with the tiny print, are time-consuming. Who has the time?
If you are a savvy entrepreneur you will most certainly want to avoid the unpleasant and scary experience of being audited. Who wants to meet with the IRS?
If you are in business with a colleague, you will need a partnership or shareholders agreement. A handshake is not enough even if your business partner is your spouse. You should be knowledgeable about the most preferred legal structure for your business, e.g., sole proprietorship, corporation or LLC.
You should formulate a business plan which is an absolute prerequisite for every single business owner—this is needed when you are hunting for funding sources; e.g. banks or venture capitalists. You certainly are not going to dip into your pocket for cash.
You should decide what type of accounting software that would be most appropriate for your business. Is QuickBooks the right choice?
You should either handle your bookkeeping and accounting in-house or outsource it; the latter is a cost-effective strategy since you won't have to hire full-time staff to perform this vital function.
You should make a determination as to who should control your business's checkbooks.
You should be aware of your sales tax responsibilities.
You should have an expert review your franchise agreement in the event you are interested in exploring opportunities in the exciting and lucrative world of franchising.
In summation-- under one roof, Small Business Solutions incorporates the expertise and experience of a Legal Department, a Tax Preparation and Audits Department, an Accounting and Bookkeeping Department, a Franchising Department and a Collections Department—all of the departments that will enable you to focus all your energy on attracting customers and watching your business grow. Just imagine, you are a small business and yet, you will enjoy personalized attention from departments that are an integral component of Big Business. That's how NACC's Small Business Solutions helps your business. To set up an appointment for a Small Business Solutions consultation, call 718-834- 0910.