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Discover what business ideas are trending according to TRUiC, using an AI-powered business idea generator and other tools
The digital age has brought with it a constant stream of opportunities for entrepreneurs to grab. The business world goes through constant evolution and change. With these changes, new challenges arise and new things have to be considered. You can make a strong argument that with all the tools and information available for the regular person, starting a business today is easier than it ever has been.
There are proper procedures to follow when starting any business, but before that procedure is discussed, one should understand what’s trending in today’s market. It can be difficult to analyze what ideas are worth progressing with or even to know if they are outdated or in demand. An element of risk is always there for daring entrepreneurs but these types of ideas are likely going to help you generate a positive income.
If you are looking for new business ideas, TRUiC, The Really Useful Information Company , is a great place for you to turn to if you are in need of some inspiration. On their website, they give a comprehensive list of business ideas that are trending, as well as separate articles that list businesses that are suitable for different personality types. Here are just two business ideas that are trending in the US according to TRUiC.
Online Business Opportunities
We are living in an age of information, therefore this is the perfect time to start an online business. With 4.5 billion people around the world having access to the internet. E-commerce is one of the most convenient business options for 60% of the world. You can be forgiven for thinking that companies such as Alibaba, Amazon, and E-Bay are the only ones benefiting from this $5-trillion industry, When in fact, the millions of people affiliated with these businesses are the ones that make everything possible. Search Engine optimization, Drop-shipping, Web-designing, and Social Media Marketing are some of the many possibilities in E-commerce and they do not require extremely high skill sets to begin with.
The food industry is a $3-Trillion industry and is said to be one of the businesses that carry the least risk. You don’t have to be a professional cook or be savvy about food to make your business work. You can start your own small restaurant, buy a franchise, get into producing food, or even start a delivery service for other food joints to get into this business. It is relatively easy to get into this business and obviously the demand for food will never go away making this business model recession-proof.
Which Business Structure Should You Go With?
Failing to choose the right business structure for your business might prove to be catastrophic. According to TRUiC, this is one of the biggest reasons why most businesses fail. Sole-proprietorships or partnerships used to be common in the US but with rising problems in ownership distributions and owner’s liability risk they have somewhat fallen out of favor. Owners are liable to pay out of their own pockets in case their company failed and that would ultimately lead to bankruptcies.
Limited Liability Companies or LLCs for short are gaining popularity and have become the most common business structure. An LLC is suitable for almost any kind of business. Some people are intimidated by the thought of opening an LLC because it seems complicated but professional companies like TRUiC will make the whole process seem so much easier with their simple to understand LLC guides.
How To Form An LLC
Select A State To Form Your LLC:
Generally speaking, it is advisable to open an LLC in the state you live in, Non-US citizens can open an LLC in any state. Some states like Wyoming and Nevada charge more to form an LLC compared to other states, but it is important to not every state has its own set of rules so before you proceed, you should use the guides on TRUiC to see what rules apply to your state. In the state of Delaware, you must own/rent physical space to set up your LLC and it is mandatory by law, other states have different laws for LLCs.
Name Your LLC:
Naming your LLC is not as easy as it might seem. There are several factors that you must take into account when naming your business. Your name must be legal and original to avoid copyright and legal problems. It is very common to use a patented name without intent, so everything must be checked before you decide to register yourself, plus you may be required to add words such as “Limited Company” in your name by law.
Your name must also be Domain and Social Media friendly. Some general advice would be to keep the name short and memorable. This will make it easier to have your name memorized by people and give it a good look.
Choose A Registered Agent:
Choosing a registered agent is crucial but you are not obliged to have one. Most of the work done by registered agents can easily be done by the owner but there are numerous benefits to choosing a registered agent. You can find registered agents for fees as little as 50$ per year. The value they give you for this price is certainly worth it though.
A registered agent’s office can act as your physical address when required by law, they can help you save time, receive legal notices for you, and do so much more. The amount of time and finances you can save by hiring an agent can easily be directed towards your business to help it grow
File Articles Of Organization
In some states, a formation document is required by law for every LLC. These are similar to Articles of incorporation and you can get them through your State secretary. Information about this is usually found on the State secretary’s website and once it is approved by the State secretary you are legally allowed to make your LLC.
Create An Operating Agreement
An operating agreement is a legal document that clearly states who the owners of the organization are, it’s assets, management process, and structure of LLC. It provides details on how job roles will be decided, when and how meetings will be held and who the registered agent is. The roles and responsibilities of every member are clearly defined in this agreement and it also shows how members will be added or removed in the company.
TRUiC, The Really Useful Information Company
TRUiC is a website where you have access to quality free information regarding business-related matters. Whether you are looking for some inspiration for starting your business or you want to know more about all the legal requirements you have to fulfill when forming an LLC, TRUiC should be your place of reference.
TRUiC was founded by a team of entrepreneurs who are passionate about education. To date, They have already helped over 250,000 Americans start their business.