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Bid Ocean Network, Your Business Wellness Center

Types of Business

There are several types of business that you can venture into. Location, structure, and the manner in which you want your business to operate, as well as your target market, will determine what business you will have. The following are the main business types and their available funding, taxation, and relevant government assistance programs.

Nonprofit

Nonprofit groups makes use of profit to better services, instead of distributing dividends to its investors. The following are relevant government links with regard to this business type.

Green Business

Going green and organic is a fad which does not seem to be going away. It is a chance to harness your creativity in promoting environmentally-sound and healthful products and services. First, you need to look up for areas which are still under-served in the market, the so-called niche. Then you will need, afterwards, to get certified so people will know that what you are offering is green.

The following are various labeling resources from the local to international market.

  • Domestic Certification

    • U.S. Green Building Council

      Leads in the certification of new and existing buildings with its Leadership in Energy and Environmental Design (LEED) Green Building Rating System

    • Green Seal

      A multitude of goods are rate vis-à-vis standards and awards are given to those having exceptional 'green' qualities.

    • Scientific Certification Systems

      Certification of products from agriculture, manufacturing, and electricity.

    • The U.S. Department of Agriculture's National Organic Program

      Organic product certification from the country's lead agricultural agency.

    • Chlorine Free Products Association

      Certification of products which do not contain chlorine.

    • Green e-Certification Program

      From the Center for Resource Solution, a certification for renewable power.

    • ENERGY STAR Program

      Energy efficiency certified by the U.S. government.

    • Forest Stewardship Council

      Certification of wood products by the Scientific Certification Systems and Smartwood.

  • International Certification

    A number of countries and regional organizations maintain ecolabeling programs for their products.

  • Cross-national Organizations

    There are at least two cross-border groups which try to ensure the integrity of ecolabeling programs in a variety of countries. The Collaborative Labeling and Appliance Standards Program (CLASP) initiates the formulation of national laws and regulations which support energy efficiency and labeling of appliances. For its part, the Global Ecolabelling Network seeks to ensure the credibility and integrity of ecolabeling groups.

Embarking on an Online Business

Selling online is a good way to expand your target market, as well as profit. The succeeding points assist you in knowing the steps required for this matter.

  • Register Business Domain Name

    Your business holds a domain name which is also your web address. This is the initial procedure in setting-up your online venture.

    Certified Registering Authorities is the link to take note when registering. To avoid falling prey to scams, check out Abusive Domain Name Registration and the Federal Trade Commission's (FTC) Domain Name Registration Scams.

    For technical oversight of Internet protocol address space allocation, protocol parameter assignment, domain name system management, and root server system management functions, the Internet Corporation for Assigned Names and Corporations is the nonprofit organization in charge.

  • Choose a Web Host

    For website space and creation, it is necessary to contact a web host. Choosing depends on the demands of your business, security of the site, and cost compared to capabilities.

  • Website Designing

    Your website is the gateway or portal to your online business. As such, it should be created and designed to encourage viewing and attract consumers. While you can design it, or any of your workers, hiring a specialist or a group of designers can do wonders for your online venture. It is, however, important to note that trademarks are not copied, in conformance with trademark and intellectual property laws by looking at current trademarks.

  • Roll On and Sell!

    Once the website is created, the next logical step is to advertise, market and sell via it. To do so requires the use of search optimization engines or keywords that make your website searchable. As traffic increases so will potential buyers.

  • Online Regulations and Trade Laws

    Like its real-world counterparts, online marketing and selling is governed by almost the same laws. The FTC maintains links to assisting your business to adhere to these rules. These two links are relevant: Advertising and Marketing on the Internet: Rules of the Road and DotCom Disclosures: Information About Online Advertising.

    The following are links to laws which regulate online business:

    There exists international laws governing online business, including advertising, packaging and delivery of goods. You need to be aware of these matters.

  • State and Local Rules

    Aside from the aforementioned federal regulations on businesses done online, states and local governments have their own peculiar laws. Be sure to know them.

  • Tax Obligations

    Most online businesses pay the same taxes as regular businesses from the federal government down to local bodies. Check it out in your locality.

Home-based Entrepreneurships

More than half of businesses in the U.S. are home-based and a number of successful companies including Apple Computer, Ford Motor Co., and Hershey's began from home.

Persons With Disabilities

Physical disabilities do not have to hinder business opportunities. If you are disabled but have a strong urge to venture into business, there are a couple of opportunities to look into. The following are government online links to assist you.

Businesses by Minorities

Are you a minority who wishes to embark on a business? A couple of advice from several quarters can help you take off correctly.

Veteran-Owned Companies

As a soldier from a war or one who got disabled because of it, you have some opportunities from the government regarding business ventures. For starters, click National Veteran Small Business Conference & Expo for know-how.

Funding Your Company

While the government does not offer grants to veterans to fund their initial business requirements, it provides some opportunities such as low-interest loans. For a comprehensive inventory of these programs which are specifically designed for veterans and military professionals, go to Loans and Grants Search Tool.

The states of Illinois and Wisconsin offer loans particular to veterans and/or military members. Visit Employ Illinois - Military Reserve Loan and Wisconsin Dept. of Veteran Affairs: Personal Loan Program to know more about their programs.

Government Contracts

The three levels of government- federal, state, and local- reserves part of the percentage of contracting products and services to small businesses. As a veteran, you are legible to apply for these contracts. For more information, click Service-Disabled Veteran-Owned Small Businesses: Contracting Guidance.