1. Public Relations (PR): What It Is and What It Does 2. Types of Public Relations (PR) 3. Public Relations (PR) in Practice: Examples Why PR is important? There are many reasons why public relations (PR) is important for small businesses. For one, PR can help raise awareness for your business and help you reach … Read more
Social media: what it is, what it does, and the most popular platforms What are the six categories of social media users? 1. Social Media Enthusiasts: These users are passionate about social media and use it frequently. They are often early adopters of new platforms and love to share their thoughts and experiences with others. … Read more
A personal service corporation (PSC) is a type of corporation that provides services that are personal in nature. The term is typically used in the United States to refer to professional service corporations. Professional service corporations are businesses that provide services that require a high level of skill or training, such as legal or accounting … Read more
The Fair Market Value Purchase Option is a provision in some small business contracts that allows the buyer to purchase the business at fair market value at the end of the contract period. This option is typically used when the buyer is interested in acquiring the business, but does not want to commit to a … Read more
Qualified small business stock (QSBS) is a type of investment in a small business that offers certain tax advantages. QSBS is any stock that meets all of the following criteria: 1. The stock is issued by a qualified small business. 2. The stock is acquired at original issue (directly from the issuing company) in exchange … Read more
The gig economy is a labor market characterized by the prevalence of short-term contracts or freelance work as opposed to permanent jobs. Gig economy workers are typically paid per task, project, or job, and do not receive traditional employee benefits such as paid time off or health insurance. The term “gig economy” is often used … Read more
A Small Office/Home Office, or SOHO, is a type of business that is typically operated out of a small space, such as a home or an apartment. These businesses are usually run by a single person, or a small team of people, and they often have a limited budget. SOHO businesses typically offer services that … Read more
The “Walmart effect” is the economic impact felt by local communities when a Walmart store opens. The effect is typically negative, as small businesses are driven out of business by the competition from Walmart. This can lead to job losses and a decline in the local tax base. The effect can also be positive, as … Read more
