Regardless of company size, it is imperative to decide on the best legal structure of your new company. The legal entity chosen will affect extent of personal liability, taxes and record documentation. Your business structure can take one of five basic forms: the sole proprietorship, the partnership, the regular or C corporation, the S corporation, or the limited liability company.
If you have watched any news lately, you know that Congress just passed the historic legislation that pledges to overhaul the U.S. health care system. But do you know how the bill will affect college students like you? If you are on your parents’ insurance plan, for instance, you will now be allowed to remain on their policy until the age limit of 26 or until you are out of school, whichever comes earlier. This provision, says Rob Mellen, who teaches political science and public administration at Mississippi State University, will be able to “help out students who can't afford their own health care and haven't graduated yet."
If you have or are considering having a credit card in college, you might want to take a look at the Credit Card Accountability, Responsibility and Disclosure (CARD) Act of 2009, which went into effect a month ago. Although the act addresses a range of issues surrounding the often loosely regulated credit card industry, it contains a set of measures that specifically target young consumers such as college students. Beginning on February 22nd of this year, anyone under 21 years of age applying for a credit card will be required to either demonstrate that he or she has an independent source of funds to pay the bills or ask a parent to co-sign the application. This is not the only change that Congress is making to help keep students from becoming buried in excessive credit card debt.
With unemployment having reached 10% in recent months, jobs are obviously in scarce supply. Aside from widespread layoffs, many companies have dramatically scaled back their recruiting efforts in an effort to cut costs. Scaled-back employers overall have fewer holes to fill with new hires and less money to spend on hiring them. HR departments with tighter budgets are reducing trips to the career services centers of universities across the country, and students are struggling to find jobs with graduation looming. "The days of having a row of interview rooms booked solid is over," said Sunil Chopra of Northwestern University's Kellogg School. In response to the downturn, some schools and companies are going the extra mile to connect businesses to eager graduates, turning to such methods as teleconferencing for interviews and school-sponsored company visits.
It has long been said that higher education is the route to professional success and financial stability. Graduates are believed to excel in their careers and earn far more than their high school educated counterparts. There is no doubt that college graduates fare better than high school graduates, even in economic downturns. The question is how much better the college graduates fare than the high school graduate.
Experts once said that the college graduate, on average, earns $800,000 more in a lifetime than the high school graduate earns. However, this number has been disputed and experts say the figure is much closer to $450,000. As tuition continues to soar, the income gap between college graduates and high school graduates shrinks. The trade-off between four years of education and an early start in the workforce isn’t as stark as it used to be.
In the very first of my articles for Business today, I thought being an Indian student entrepreneur, it would make sense to write about the Indian perspective of how is student-business relationship viewed and its future going ahead.
India is home to a significant portion of today`s world youth population and the country itself has 51% of its population under 25. Such a substantial proportion of potential consumers and future business leaders and entrepreneurs is hard to neglect due to which businesses have lately tried to go an extra mile to tap the potential for out-of-box innovation and next big consumer market.
Come participate in a free GMAT workshop, hosted by Manhattan GMAT and sponsored by the Business Today Seminar Series. The workshop will provide a general overview of the GMAT, a discussion on the benefits of taking the GMAT in college, and information on the MBA application process. Also included is FREE food, a FREE raffle, and discounts on courses. If you have any questions, please contact rgreeno@princeton.edu. The workshop will take place on Monday, November 9th at 7:30 pm in McCosh 60.
About Manhattan GMAT: Manhattan GMAT, corporate provider to Goldman Sachs, JP Morgan, McKinsey & Co. and Boston Consulting Group, is the nation's largest GMAT-exclusive prep company. They offer students a superior curriculum and the highest-quality instructors in the industry.
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Although college students everywhere are acquiring plenty of knowledge about subjects ranging from architecture to zoology, it appears that they may not be learning enough about personal money management to take good care of their own finances. In its 2004 study of credit card usage by undergraduates, the student loan lender Nellie Mae noted that 76 percent of college students have credit cards and that by the time they reach their senior year, 56 percent of students carry four or more credit cards, accumulating an average balance of $2,864. In addition, a recent survey commissioned by Bank of America found that approximately 58 percent of college students have no set budget, and 18 percent have no solid idea of how much money they have at any point in time. Even more alarmingly, the Richmond Credit Abuse Resistant Education (CARE) Program reported that the number of 18- to 24-year-olds who have declared bankruptcy has increased 96 percent in just 10 years.
Social selling, according to Dow Jones’ Tom Aley is quickly becoming the next generation of business to business (B2B) social networking. The idea of social selling goes beyond the typical “it’s not whom you know but what you know” idea that has filled the minds of many, causing them to scramble for any connection they can get. But, this new and improved social selling extends outside the workplace, as the sales department of a company works together to find internal connections to other businesses. These connections found within their employees and also through information offered through public databases would ultimately lead to positive business deal outcomes.
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