Joseph Laforte is one of the successful entrepreneurs of today. And hence, he is one of the best persons who can guide people on the ways to manage the funding of a startup.
He is a team leader at Par Funding, which is a Philadelphia based company that provides short term B2B capital to other businesses. This company majorly helps SMB companies, that is the small and mid – size business owners by solving their issues regarding cash flow or short term cash infusion. In this way, these SMB businesses can grow and expand as per their plans.
Joe Laforte and his team are proficient in providing quick deliveries to the people, and have an amazing reputation in the market. They also have a long and great record of closing the loans, that banks and other credit unions usually have problems with. Along with this Joe has also helped these small and mid sized businesses in managing their work capital efficiently. This is the only way they can grow and expand when needed.
Joe is a passionate person, who looks for investments and help people grow their businesses. He also believes in positively impacting the community which he serves.
Recently, many startups have been struggling to raise funds for their work, for example, last month, at least 12 D.C.-area startups raised a combined $89 million in capital. Taking the case of another example, due to Brexit issues, early stage investment in UK startups have hit a 4 year low.
For some companies, it is easy to raise funding. While for many, this is very difficult. Joseph Lafarte here helps you raise that funding for your start up effectively.
Here are some tips to raise funds for your startup:
- Take help from your family and friends
- Take small business loans
- Go for crowdfunding
- Take part in local contests
- Bootstrap your startup business, and so on.
These are few efficient ways you can consider and go forward.
Foming a Limited Company in UK has Become Easy Now
It is a big decision to take to go from being self-employed to becoming the director of your own Limited company. Being a sole trader may be a good way to run a business. But there are many advantages of taking your business a step further while operating as a full-fledged limited company.
In the UK, setting yourself as a self-employed sole trader is a simple process, but it has some conditions. That is why thousands of new sole traders are choosing to open a limited company each year. To register online with HMRC for self-assessment, you need a personal tax code reference number.
If you are earning more than 1,000-pound sterling between 6 April of one year and 5 April of the following year, you can set yourself up as a sole trader. Further, you need to prove your self employed to claim Tax-Free Childcare. In addition, you also need to make voluntary Class 2 national insurance payments to qualify for the benefits of being the sole trader. There are so many conditions for the sole trader, hence it will be a good decision to open a limited company rather than going for a sole trader.
There are many advantages of incorporating a UK company after going through the company formation process. It also involves a little more work than simply registering as self-employed. Financial and statutory administrative duties to run the limited company enables you to gain many advantages of having a limited company status.
Paying tax as a self-employed could bring you financial crisis sometimes. But as a registered limited company owner, you have to pay less personal tax than a self-employed sole trader. As you will be the director of your company, you can select to take a small salary from the business and then can take more income in the form of shareholder dividends. By doing so you can reduce the amount of National Insurance Contribution which you need to pay.
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