What are your business goals for the new year? If I’ve learned anything in the past few years, it’s that you should lean into your hardships because, in many cases, they end up being the biggest blessings in your life. No one ever proclaimed that running a small business was easy, but the hard work and challenges are well worth the effort.
2022 Business Resolutions
Following are seven business resolutions you can make—and keep—in 2022 that will help you build a solid and successful company.
1. Start a Business
Yes, you can start a business in 2022! Are you overwhelmed by the enormity of it all? Break it down into smaller steps. Step one (even if you’re starting part-time) is to make sure you take the proper legal steps. (Also, save all your receipts since startup costs are deductible in your first year of business.)
2. Hire Employees
Will 2022 be the year you hire your first employee? Do you need full-time or part-time help? Finally, will you offer benefits? These are all questions you need to answer before starting the hiring process.
3. Expand to Another State
If you’re considering adding new locations, expanding your company’s presence across state lines can help you reach new markets and boost profits. Before you make the move, you need to:
4. Marketing Goals
Is your marketing strategy still stuck in 2021? Now is the time to revamp your marketing priorities and strategize reaching today’s consumers.
5. Intellectual Property
If you’ve postponed applying for intellectual property rights, you’re putting your business at risk.
6. Change Legal Structure
There are many reasons why companies might decide to change or “convert” legal structures. The owner might want to sell stock or bring on partners. Or the company might want to take advantage of the lower corporate tax rates. Whatever the reason, converting legal structure depends on whether your home state allows conversions of legal entities. In states where conversions are not allowed, the company must dissolve the current entity and form the company as a new entity. Check with the Secretary of State’s office in your state to find out if you can file for conversion or if you must file for dissolution.
7. Closing a Business
Unfortunately, many small businesses have closed in the last few years. If this happens to you, it’s crucial to close the business legally, or you can be liable for the company’s activities, taxes, and financial agreements. To shut down a business:
Good luck in the coming year, and let us know how you’re meeting your goals.
Membership is open to businesses and organizations interested in increasing visibility and brand awareness in Westchester County and surrounding areas.