/r/business

Photograph via snooOG

/r/business brings you the best of your business section. From tips for running a business, to pitfalls to avoid, /r/business teaches you the smart moves and helps you dodge the foolish.

/r/business brings you the best of your business section. From tips for running a business, to pitfalls to avoid, /r/business teaches you the smart moves and helps you dodge the foolish.

/r/business is not the place for stories about the government's economic policies or corporate corruption.

Rules:

  1. This is not the place to promote your business.
    Any and every post promoting a business in any capacity will be removed.

  2. Spamming will result in an instant ban.
    No mercy for spammers.

  3. By posting here, you agree that you have no connections to the site of the articles you submit, If you do, we will instantly ban you.

  4. We do not allow 'blogspam', any post that looks like blogspam will be removed.

  5. Political submission are not allowed and will be removed. Use /r/politics.

  6. Examples of Corporations behaving badly? That goes in /r/greed.

  7. This place should have a "business casual" feel. Like you're at a networking party...make jokes, not offensive comments.

  8. Please follow Reddiquette.

  9. If you link directly to video content you need to leave a comment, or state clearly in the title, what the video is about.

  10. Surveys, questionnaires and (market) research are not allowed.

Helpful Subreddits:

Supply chain and logistics:

Small Businesses:

Photography of the header licensed under CC

/r/business

2,043,425 Subscribers

1

DECA SBE ICDC

hey, could someone who has previously competed in the ICDC deca SBE competition for gold certified sbes respond to this? i’m manager for our stores first ever sbe and this is our first gold certified store too, i’d love to dm y’all bc i’m in need for advice 🥲

0 Comments
2024/03/26
04:17 UTC

0

Lost a lot, any ideas...

Good day Discord community, I am (27M) happily married and expecting a new born, we live in a 3 bedroom apartment as i am working from home, I need the space. But to speed up the story i lost around 25k of my savings to Crypt0, there are some left but this is based on me trading/investing in micro cap coins with the dream of retiring my mom and my wife so she can focus on our kid and that is her dream, i hussle as much as I could.

I work 9-10 hours a day as an insurance broker as i make a bit of comission after 20 policies sold, i also run (nonregistered) property management for a friend only, with 5 units that i help maintain and get paid for sometimes for a little money.

But i guess the question is i work hard and risk enough and still feel i am not doing right for my family, i dont party much and really just work but it makes me feel like nothing is going to the right path, would anyone be able to help me start or give an idea of a business to start? I live in a small town in Canada with a 6,500apr in population with not much capital to start, i already thought about starting a property management company but i dont have capital to do so, i have a background in hospitality, i have managed people and a hotel at the age of 23 and worked as a top performer in a company before in insurance, but still hard work doesnt make you rich.

Thank you in advance.

6 Comments
2024/03/26
00:59 UTC

0

Need guidance writing by-laws Canada

Hey all. I’m in Ontario Canada and am tasked to initiate the writing of our federal not for profit. Any advice is appreciated. Even though I myself have not written by-laws before, I believe with the right team of people this can be done. I’d just like to know if a professional should be brought on board to review and to edit? Is there a someone that turns drafts into an official document that has the correct formatting and language. Excuse my naivety, I’m a novice at this point so all advice is appreciated!

0 Comments
2024/03/26
00:37 UTC

0

Need Clarity

Does an online property management company that allows users to manage their rent, contracts, payments, screening, etc.. need a brokerage license.

0 Comments
2024/03/25
23:09 UTC

1

Business, Computer Information Systems, or something else?

Hello,

I am currently a double major in computer information systems and business administration (place holder for an undecided business major). I have saw some people say that the tech job market is washed and not worth it, and some people who say it is the best degree you can get. On the other hand, I have been told you can make the same salary with a business degree and I wouldn't have to be in college for 5 years (private college as an athlete sucks) to graduate. The main goal I have for a career is to start with a salary roughly around 50k a year and retire making over 100k. It might also be worth noting I live in Missouri and absolutely do not want to relocate. What would your advice be on a major and future career path, I have the summer to think about this because my school's business core curriculum is similar to computer information systems.

Thank You.

3 Comments
2024/03/25
22:58 UTC

0

Looking to interview Millionaires & Entrepreneurs

I wanna start a YouTube channel to go into the minds of successful entrepreneurs in todays world and Looking for millionaires and entrepreneurs in NYC, Canada, or Buffalo to share their stories and insights on success especially for myself. If you or someone you know fits the bill feel, free to message me

4 Comments
2024/03/25
20:53 UTC

0

My partner stabbed me in the back but he thinks I dont know.

Basically I own a record label which I've been crafting since mid 2023 and now its when Im starting to see some results, but money and clout is a hell of a drug so my partner (still) started everything by his own and did not tell me absolutely nothing. On how I noticed it is a long story but is lie after lie. This guy did not know shit about the music industry, production, distribution, royalties, copyright, splits and nothing related to the industry. Now he took all the knowledge I gave him to stab me in the back and YET not leave to get more money in a crucial moment in the business where we could escalate our profits by x65 in 2024. What should I do? and also I really need a new partner that knows about programming and its REALLY patient, results will come.

As a redditor told me I"ll go more into details. What I bring to the table is the production, plans, royalty splits, distribution, and keep everything, ABSOLUTELY everything on track, payouts, copyright issues, botting, payments and thats what comes into my mind at first.

His job is basically maintenance of what I do and manage a couple artist, which one of them is our golden egg. The stabbing came by basically use everything I do to create his own label and get the 100% of the profits (we on a 50/50) without telling me nothing.

I haven't talked with him about this yet since I want to know his next moves and having a solution in case we split.

35 Comments
2024/03/25
19:30 UTC

1

Student Summer Business Ideas

Hey everyone, I’m a university student living in Toronto. Normally over the summer break I’d be working a job but have had no luck finding one so far.

Instead, I think it could be a good idea to start some small business/hussle I could do myself over the break. The obvious ones would be some lawn mowing maybe car wash etc… but I’m looking for ideas or just overall advice from anyone that has had some experience with doing this kind of thing in the past.

Thanks in advance for the responses!

1 Comment
2024/03/25
19:09 UTC

0

How much sales tax to collect online?

I am based in Los Angeles County, CA. I would like to launch a website to sell my products (mineral specimens and handmade jewelry mostly), but I am confused on how much sales tax to charge/collect because I will have customers from across the United States. Also, if I were to expand shipping worldwide, such as Canada or UK, would that also affect how much sales tax to charge?

Appreciate any help/advice anyone can give me. Thanks!

3 Comments
2024/03/25
18:05 UTC

3

First time starting my own business

I want to start my own business for the first time: print on demand.

What do you guys (who might be the owner of the same business niche) thinks or know what hurdles can be in the way? I will be starting from an instagram page with the lowest budget possible so I just dont burn my money. I will be handling all the things like social medias and ads as I cant hire a VA or anyone at this stage. How do you think should I test my products ? Any tips and tricks would be helpful. Thank you

0 Comments
2024/03/25
17:58 UTC

1

Question about business degree/MBA

I am currently an undergrad student with an unrelated major who is considering a career in business management. At the very least, I will get an MBA, but with a non-business undergrad degree, will that be enough for high level corporate jobs, or will they be looking for a business undergrad degree? Thanks.

2 Comments
2024/03/25
17:23 UTC

0

Hey everyone! If anyone needs help with digital marketing feel free to shoot me a message. I offer websites, Search engine optimization, Facebook ads, etc. Don’t hesitate to ask any questions you may have. Id provide my phone number but I don’t want scammers to call me haha

0 Comments
2024/03/25
15:46 UTC

0

https://www.bloomberg.com/opinion/articles/2024-03-24/boj-has-sprung-a-leak-japan-must-investigate

Japan's mass media habitually commit insider trading at FX. Especially, Nikkei is notorious.

This is common knowledge in Japan.

1 Comment
2024/03/25
09:52 UTC

0

Facebook business groups

Hello guys, can you advice me on how to find a Facebook group(s) and how to convert leads from one without spamming. I have been in the business of design and branding with good enough experience to handle big design projects but lately I want to have clients with varied design challenges and even from different regions/countries. I know for a fact that Facebook can be an interesting place to find leads but I lake major insights in how to navigate this. Any help I’ll appreciate. Cheers!!

4 Comments
2024/03/25
07:54 UTC

1

seniors in pharmaceutical manufacture

Hello there,
Me and my team will start a pharmaceutical manufacture, at this point we want to see what are seniors position should I considered to be in list of payroll.
I have a list but I want from your experiences to share, to be sure that I am covering all spots, Location will be EU.

6 Comments
2024/03/25
06:00 UTC

170

Got an LLC, but didnt start a business, now they want all kinds of money to dissolve the LLC or they will tax me $300 per year forever

So I started an LLC about 9 months ago but didn't do anything with it. I did this through legalzoom. I noticed that Delaware charges a minimum $300 tax per year whether you do business or not and if you don't dissolve, that money will just keep racking up. So I paid $700 to dissolve, but legalzoom says I have to file an annual report and when i tried to do it on the Delaware SoS website, they want $300 for the tax. Is there a way to not pay that tax? I hate that I've spent all this month for nothing so far.

76 Comments
2024/03/25
03:34 UTC

4

Need advice ASAP

Hi all, I’m in need of some business advice ASAP. I am a young baker (20 y/o) that started my own cake business about a year ago. I recently emailed a newly opening cafe about possibly supplying them with cakes / cookies etc, but I am not registered as a business yet so they can’t have me as their supplier. However they asked if I would be interested in being an employee until I get registered and have my own space , that way I can bake in their kitchen and supply them that way- but I’d be on an hourly wage rather than getting paid per product. The problem is I want to expand past this down the line and brand these things (esp the cookies) as my own, how do I know they won’t brand them / advertise them as their own cookies? Or give my recipe to someone who will make them for cheaper ? I’ll have to give them my recipe since I’ll be employed by them and they need to keep track of how much of their ingredients I’ll be using. I’ll be signing a contract tmr.. is there anything I can do to avoid them doing this ? Maybe something that can go in the contract? I know nothing about this stuff please help!!!

3 Comments
2024/03/24
21:44 UTC

0

Should I form a business?

Hello! I am a W2 employee that enjoys my work and make great income. I get taxed pretty heavily. I started playing crane games and win prizes. I consider this a hobby as I enjoy beating the machine then the actual prizes I get. Due to this, I have decided to sell my prizes so I can continue to play the crane games.

I sell on platforms like whatnot and am approaching the amount that whatnot would need to send me a tax form as income on their platform. If I report this as income, I believe this will be taxed at my W2 rate around 35%. I wanted to know as I continue to play crane games and sell my prizes, would it be best to start this as a side business? I heard this may even help lower my W2 taxes. Any advice would be appreciated!

6 Comments
2024/03/24
21:32 UTC

108

Our business is declining. Need advice.

I live in a small town. My dad has a clothing shop, a multibranded one where we sell authentic brands and not copies and stuff. The shop was doing really well from last 20 years up until the covid after which it’s getting worse and worse. It seems like people aren’t buying clothes anymore. There are barely any customers now and it has become very challenging now, customers ask for 40%,50% discounts if there are any which is not possible because our margins tops at 20% and 25 in some brands. I’ve joined the business at this challenging time and I’m not able to improve it as there aren’t any customers coming on a good scale. What can I do? What can I change? How can I increase the flow? How can I not let these big online giants crush us? It feels so helpless at times? Where can I go from here?? Any advice or insight will be highly highly appreciated.

124 Comments
2024/03/24
18:42 UTC

0

https://www.nytimes.com/2024/03/12/business/china-exports-backlash.html

Maybe, if China's manufacturing sector successfully revives, capital flight from China to Japan/India reverses and Japan's stock market highly probably implodes.

0 Comments
2024/03/24
18:14 UTC

6

Roast my idea

Hi, I would like you to roast my idea. I'm not convinced it's good, nor it's bad.

Pretty simple: a faster way to search into spare part catalogues using generative AI. Something like Perplexity.ai but trained on the catalogues of the different manufacturers.

Every customer would send the catalogue they use, and we would train and host a model for that specific use case.

This would improve search speed and accuracy. Considering that this catalogues often are badly organized and structured (they are divided in sections that don't alway follow logic), are difficult to search.

The problems I see? Bad catalogues brings to bad performing AI (shit in, shit out). So this is more about a data processing problem.

If you have questions to ask for more context please write them.

Thank you have a nice day!

8 Comments
2024/03/24
17:26 UTC

0

I need your opinion on this!

What’s up guys, I am a 19 year old entrepreneur based in the Netherlands and I’d like to get an opinion on something.

I will be done with high school in 2 months, and I have been working on business for a while now with a partner. This partner is an old childhood friend from back home in Turkey, which I reconnected with through social media. Since then we have been constantly calling, and we have set up our own online business. However, the main thing that’s holding us back is that; we are not at the same place, there is a time difference, and we do everything online. I believe if we were working in person together we could take this business very far.

So, because I decided I won’t go university next year, and my friend wants to get out of Turkey as he has lived there his whole life, we have thought about something. We are thinking of moving to Montenegro together by the end of this summer. We have someone we know there who owns a hotel, who would give us a job and a place to reside. Our main objective here is to get together, and just grind it out. We will only be working and trying to grow our business. The benefits would be that we’d be together at all times, we’d have a lot more time on our hands, and moving out to a place we have never been to will help us grow drastically. It’s also worth mentioning that Montenegro has decently low tax rates, and very low living costs, which can help us take everything to the next level.

So, we are both 19. Are we stupid for even thinking about something like this? Do you guys think it’s a good idea as entrepreneurs?

Please let me know!

(P.S. I know this is not a “safe” idea. But that doesn’t matter to me. Life is about taking risks and seeing where it will take you. I don’t wanna worry about every little thing anymore, and just do.)

4 Comments
2024/03/24
12:49 UTC

1

Online business advice.

I currently have a social media account, and am about to reach 400k followers, that I have been building since 2021. I get a few companies, a week, emailing for collaboration, but when I mention I'm located in Australia and they pull out..due to postage ect. I want to monetise my account by starting a business to sell items through the account..but I have no idea where to start or what to do. I already know what I will sell, as my content is a very niche one. I have looked into drop shipping ect, but I can't get my head around the online side of this. Is there companies that can help with the initial set up? I still work a full time job, but want to use social media to help with paying bills and as a side hustle. Thank you.

1 Comment
2024/03/24
07:37 UTC

1

Alabama: School/Daycare/Preschool

Hello, I have a friend who is interested in starting a daycare/preschool in Alabama. She is very invested in the kids she watches during babysitting as far as development, and she also works at a daycare. She understands how the current economy is and wants to establish a daycare that is affordable for parents while also still making a profit so that she can live. Does anyone have any information or tips on starting a regular daycare and the ins/outs of it. Any advice is welcome. Thank you.

1 Comment
2024/03/24
05:03 UTC

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