One and Co

One and Co

Archives for January 2021

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The Best States for Starting a New Business

Despite the pandemic, many small businesses have been popping up everywhere, mostly as a result of massive layoffs during the first quarter of the year. Indeed, Americans are launching new businesses at incredibly fast rates, with more than 3.2 million new enterprises recorded by the third quarter of this year. While these are incredibly fickle times, new business owners have decided to jump the gun in order to seize available opportunities and stay afloat.

One way to ensure your new business’ longevity and success in the market is by knowing where to launch it. In this post, we’ll take a look at three states where your business has a higher chance of thriving.

Nevada

Nevada has one of the fastest-growing economies in the country, which is due in part to the steady stream of new citizens from more expensive states like California and New York. After the housing crash, Nevada’s economy has rebounded significantly and continues to grow. In fact, many high-profile companies like Apple, Amazon, Tesla, and Google have all expanded operations in the state. Other factors that make the area attractive to businesses are the abatements for property and sales tax. And just like Wyoming, Nevada also doesn’t place state income tax on employee wages. Another benefit of starting a business in Nevada, especially if it’s an LLC, is that shareholders, officers, and members don’t need to be Nevada residents.

Oklahoma

Aside from having the fourth lowest cost of living in the country, Oklahoma is a very friendly place for new entrepreneurs. For one, Oklahoma ranks third when it comes to the best survival rate for startups in the country. According to statistics from the Chamber of Commerce, 81.51% of new businesses are able to weather their first year on average. Secondly, there’s also a recent uptick in small business lending in Oklahoma City, and this is boosted by the relatively low-income tax in the state.

To further ensure the survival and success of your Oklahoma business, be sure to find what kind of business structure works for you. For many businesses, incorporating as an LLC works well because this guarantees a clear divide between your personal and business assets, should any legal problems arise. To set up an LLC in Oklahoma, all you need to do is find a valid name, appoint a registered agent, file articles of organization, and finally apply for an employee identification number (EIN). Fortunately, most of these can be done online pretty easily. While it may seem like there are a lot of steps, it’s worth the effort as it adds a layer of protection to both your personal funds and your Oklahoma business.

Wyoming

Wyoming is one of the best states to start your business because its tax climate outranks most parts of the US. This is mostly because Wyoming doesn’t charge individual and corporate income tax. Additionally, the state also has a favorable tax rate that ranks in the top 25% of states for sales tax. But while the state’s working-age population has been steadily declining these past few years, Wyoming is still very much conducive to new businesses. There continues to be a high activity and survival rate for startups in the area. Furthermore, registering a new business in Wyoming does not require owners to be listed in the state’s public database. This means you’re less likely to be a target of corporate lawsuits.

There are a lot of factors that can affect the success of your new business — from your product and service concept, to your work ethic and employee management. But like we said, the environment where you decide to launch your new venture can also significantly influence how it’ll perform in the market. For more information on how to ensure the success of your business, be sure to check our post entitled ‘9 Ways to Stay Ahead of the Competition’.

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Things you need to consider as a novice trader

Professionals achieve their position in the Forex field by struggling with lots of difficulties. So, they have good experience in trading, they can elect to provide good advice. Forex trading is beneficial, enjoyable as well as risky. So, the investors should not how to make the process enjoyable avoiding the risk factors. The rookie traders need to take the advice from the executives to go in the right direction. This will guide them in hard times and allow them to control the trade. Seven tips are given by the professionals which can help the new traders.

Choose the Suitable Platform

As the transaction process is done in the trading platform, so a good trading platform determines the rate of success of the investors. There are various types of platforms are available in the market. Some platforms offer the latest and indicators and tools, some are not. In the time of the buying-selling process, if the platforms create any problem such as stop working, the investor might face a huge loss. So, the investors are required to check the review of the platform to choose a better one. If you not sure, seek guidance from the trained professionals. But never invest your money without doing the proper research on your broker.

Choose the Best Broker

People are required to choose the best broker if he or she wants to make progress in the competitive field. This is not an easy task to choose a reputable broker. The traders should contemplate some major factors before choosing a broker. A person is required to find out if the broker has a license if the broker can provide the best facilities, and if the broker can support the traders in a tough time. People should make the selection of the registered broker to get the security of the funds. If investors do not get authentic information from the broker, he or she should not choose it. The elite traders always prefer high class broker. Use the best trading platform from Rakuten Australia and a general idea about the professional trading environment.

Develop Multiple Strategies

The investors should rely on one strategy as one strategy cannot able to perform well in every trade. The situation can be changed at any time, so the person should be prepared. The professionals always maintain the second strategy so that they do not get a huge shock. The businessmen should learn multiple business techniques to adjust to different circumstances. When you see that one strategy does not go with the trade, you need to apply the second strategy. Depending on the different positions of the Forex market, investors are required to build the strategies.

Learn from the Past Errors

Risk is common in the Forex market, so the investor can face a huge loss. But, the businessmen are required to learn from the previous errors so that he or she cannot repeat the errors. If a person wants to develop a successful career in trading, he or she needs to learn from his or her flaws. The professionals maintain the trading journal for determining their mistakes.

Go through the Learning Process

Fresher should go through the continuous learning process to get good results. A new investor can search for information in online. He or she can learn from the business books, and journals for gathering knowledge about the market.

Control the Sentimental Issues

Newcomers often make their decision based on emotions which do not provide them a good result. The beginners are required to know how to control the emotions and make them separate from the crucial decision. When a person sees that he or she is making a profit continuously, he or she takes the wrong steps because of the excitement. Here, the investor needs to take some time and think about the next step, this will help them not to make mistakes and understand reality.

 

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3 Tips For Setting Goals For The Upcoming Year

With the new year upon us, it’s time for people to start setting goals about what they’ll do or accomplish during the next year of life. But sadly, many people’s goals or resolutions won’t get accomplished simply because they either didn’t set the right goal or didn’t put the right plan in place to reach their goal.

To help ensure that you don’t fall victim to these mistakes, here are three tips for setting goals for the upcoming year.

Take Baby Steps Toward Your Goal

Oftentimes, the goals people set for themselves at the beginning of the year are very vague and lofty. And while accomplishing this big goal might be your ideal, it usually takes a lot of smaller goals until you can reach this big goal.

To help you get to your ultimate goal, Elizabeth Scott, a contributor to Very Well Fit, recommends that you make baby step goals toward your big goal. For example, if you’re wanting to create a better relationship with your family members, set smaller goals that might include monthly visits to your grandparents in their assisted living facility, weekly phone calls to your parents or siblings, or sending quarterly update emails to other extended family members. By setting these smaller goals, you’ll work toward accomplishing your bigger goal in a more palatable way.

Make Your Goal Visible

Once you’ve set the goal or goals that you’re going to be working toward this year, it’s time to make your goals visible so that you are able to keep them in the forefront of your mind throughout the entire year.

One way to do this, according to Malika Boyd, a contributor to LifeHack.org, is to write your goal down and place it somewhere that you see everyday or multiple times a day. Then, each time you see your goal, you’ll be reminded of what you want to accomplish so that you don’t get halfway into the year without thinking about your goal again.

Get The Support You Need

Accomplishing new goals isn’t always easy. And while you might have the motivation to reach your goal now, you will likely find yourself wavering at one point or another.

To help keep you on the right course, it’s good to find the support you need to lean on when you don’t have the strength to carry yourself on all by yourself. Leslie Truex, a contributor to The Balance Small Business, shares that you should try to find someone that can serve as a mentor, coach, or even just an accountability partner for your goal. Ideally, this person should be able to give you guidance and advice when you most need it.

If you’re working on setting goals for the upcoming year, consider using the tips mentioned above to help you with this.

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What to Consider Before Your Parents Move to A Home?

Deciding to move your elderly parent, parents, or a close loved onto into a care home facility is never easy.

For many families, the admission that they can no longer care for their loved one or parent as they once did feels like an admission that they cannot cope, and rightly or wrongly, many people find this to be something they are ashamed of.

What’s Best for You and Them

In truth, there is nothing to be ashamed of, reaching out for help is not only good for you, but it is also good for them.

As we age, our needs will change, and we may not be able to do the things we used to do, and we may need extra care as health declines.

For many families, there comes the point in their lives when it is time to turn the care of their loved one or parent over to professionals and, although this is always a hard decision, rest assured that you are making a choice based on what is best for everyone involved, and your loved one or parent will be in the best place to receive the best care possible in the last few years of their lives.

Get the Right Type of Care

Care homes and nursing homes can cater to different needs, and this is especially important if your parents are suffering from particular health ailments that will make it difficult for them in the coming years.

One of the most common issues facing older adults is the onset of Alzheimer’s and other cognitive decline issues.

Homes like The Auberge at Brookfield are specifically designed to support your elderly parents as they continue to see their health and abilities declining in a dignified way and helps them retain as much independence as possible for as long as possible.

Another consideration is the type of care that your parents will need on a personal level. You may want to continue caring for your elderly parent or parents yourself but assisted living facilities with on-site staff and nursing options may be able to do a better job.

This is something you will need to discuss with your elderly parent as well as the care home you are considering.

The Stress on You

It is no secret that caring for elderly relatives or parents is hard work, and many families feel guilty for even acknowledging that it is hard work, but this does not need to be so.

Care homes understand that families feel a sense of duty to care for their loved ones, and most are very respectful of this bond. It is worth communicating your worries to your care home in question, speak with them about how you are feeling and ask them for their advice.

Some care home options allow residents to go for respite care, like a holiday for your relatives and it’s a good way to give you a break too.

This is a great way to ‘test the water; when it comes to your decision about whether or not to move your elderly parent to a care home full-time, and it will give you the chance to rest knowing that your loved one is being taken good care of in your absence.

Can You Adapt Your Home?

If you are still not sure about moving your elderly parent or loved onto into a home full time, it might be time to consider if your home needs some alterations.

Alterations may include things like widening doorways to allow wheelchair access, creating a wet room area instead of a bathroom, and installing a monitoring system to keep them safe while you’re not around.

The fact is that you cannot be around 24/7 and if you are determined to have them with you in your home or to continue looking after them in their own home, you will need to make sure the environment is safe for them by installing a medical alert system.

Can You Afford A Care Home?

If you are looking at care home options for your elderly parent(s) or loved one, you will need to look at whether or not you can afford it, or whether they can afford it.

Care homes and nursing homes are not cheap, but they might work out better financially given the facilities available on their doorstep and included in the price.

Once you factor in the lost working hours you will miss caring for your elderly parent, the healthcare costs, and the home alterations you will need to invest in, it may be more financially viable to go with a professional home instead.

Finances are difficult to speak about, and it should be that you go for whatever is the cheapest option, you should go for the option that is right for everyone, but the fact of the matter is that finances are something you should be speaking about and before they get to a point where they cannot speak about it anymore.

The Consideration of Privacy

Aside from finances, privacy is possibly one of the biggest reasons to move your elderly parent into a care home facility instead of having them live with you.

This will very much depend on how your family traditionally deals with privacy issues. Some families are very open and liberal, able to speak about sex and bodily functions very openly. Other families will be much more conservative and keep these things like personal issues.

If your family is more on the conservative side and does not usually over-share, you may find it incredibly difficult to care for your elderly parent(s) when their needs become more intimate. Things such as clearing up soiled bedsheets or clothing could prove uncomfortable for you and also for them.

One of the benefits of a care home facility is that your parent(s) dignity is a top priority, and they will be able to maintain their privacy around you, which may be one of the last things they wish to keep hold of.