Help understanding my new business (UK)

Hello,

So I am building a Minecraft server, and I know maybe it seems a bit weird to setup a PLC via companieshouse for this. However, some of these servers make ridiculous amounts of money. And I have put in a lot of work, e.g. writing code for my own custom plugins etc. So while I am not expecting to make a huge amount of money from this (via donations), it is at least a possibility.

As such, I wanted to set it up properly and legally. Also as a learning tool since I'm 19. So anyway, I have setup a limited company. What I would like advice on is just… what do I do now?

I have applied for a Starling business bank account, which I believe I can link with QuickBooks/Xero/FreeAgent in order to submit whatever I need to submit to the government. To be honest with you, I have no idea what I need to submit or when. I'm not sure if it's worth paying for these for a small business like mine, or if I should just fill it in myself.

Additionally, since my Starling account has not been approved yet, I have paid for some things with my personal bank account such as web hosting. What should I do about that?

Also, are there any procedures I need to follow for moving money into / out of the business bank account (from/to my personal account).

Sorry, I know these are super basic questions but I am just very confused.

Thanks.

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Startups – Rapid Growth and Innovation is in Our Very Nature!

Understanding Options Documents

I joined a startup in April and just received my options paperwork and am a little confused on the strike price.

The company raised a financing round in January. The paperwork says that my strike price is $ X at the January 409A. I know the fully diluted percentage that my equity represents, and if I multiply out the strike price to get a valuation, that valuation is less than the round we just raised.

So was the strike price I was given the price before the latest financing round was closed, even though I joined after the round closed? If so that seems very advantageous to me with a cheaper strike price.

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Startups – Rapid Growth and Innovation is in Our Very Nature!

Some Understanding Of Work From My Home Online Jobs

Cosmetics and private Care Products- Lots of individuals are on the lookout for nice goods. You can buy and resell some cosmetic and care products you love to use. Regarding the soaps, shampoo, body wash different products that you and family members members use. May likely also want to sell switching the cosmetic items that you use. Again, it is possible to sell them online and offline.

Set yourself realistic targets and consequently give clients realistic output deadlines. Never underestimate how enough time it consider to get yourself a task done, otherwise, at the end of day time if you could have not completed the tasks it can be quite discouraging. So set realistic goals and targets in bite size chunks that you’ll manage a pace at some time.

When you work at home it is able to go you decide. You can easily get held in working every minute of often or become distracted from family members, pets each and every day work.

Maybe are generally bored from your current job, but as a result of downturn for the overall design finding another job isn’t as easy given that sounds, not really try start a home business.

Your work from home business in order to be most successful if you base it on something you already know quite well. Many people make the mistake of starting a home based business with concept that they will pick some misconception as they are going. That is true, but yourrrre going to have way more success if you’ve got expertise helping you first. Work out your strengths and get a business around that.

Keep track of the expenses and income that the home office builds. There are lots of small business accounting programs that might you manage your home business finances. Easy software prevented allow for you to definitely run reports and graph your home business activity can be helpful.

Check out each organization “opportunity” to view if it meets the 7 key requirements the house business own in order to qualify as the PERFECT Home Based Business. Around the globe important an individual to be convinced that the business you choose is the best one. Each letter in many P.E.R.F.E.C.T. is known as one within the 7 key requirements.

What’s good about working freelance is your time s incredibly much multipurpose. Stay at home moms can attest towards the benefit of not corresponding a nine-to-five shift and have absolutely more than enough generate ends meet.

[Zoomcar in The Hindu Business Line] Podcast | Startup Saturday: Episode 16 – Understanding travel and entrepreneurship with Zoomcar’s Greg Moran

This week, we speak with the Greg Moran, the CEO of Zoomcar. In our conversation, Greg Moran tells us why the current situation presents many opportunities for startups who wish to enter the travel and tourism space.

Read more here.

The post [Zoomcar in The Hindu Business Line] Podcast | Startup Saturday: Episode 16 – Understanding travel and entrepreneurship with Zoomcar’s Greg Moran appeared first on OurCrowd.

OurCrowd

Starting Something With A Ukrainian/Russian Understanding

I am originally an American digital Marketer that traveled around the world, I ended up living in Ukraine & Russia for several years. I feel in love with the culture and stayed. I speak Russian Well and understand the culture which is very unique. I want to start a business with my knowledge of American/western world and my understanding of Russian Culture. What Sort of Business would be good, I have a few Ideas such as outsourcing: Animation short films/Cartoons, programming, art, drawing. I also thought about getting involved in Raw minerals like gold/silver/diamonds in Russia. As weird as it is I read a interesting article on Ukrainian and Russian light Hair Being Worth its weight in Gold for wigs and there is tons of traders working with hair cut places etc. Also thought about exporting high quality products like Ukrainian Honey to America. Any Ideas would be great.

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Startups – Rapid Growth and Innovation is in Our Very Nature!

Immunai Raises $20M to Provide a Complete Understanding of the Immune System With Single Cell Profiling

The human immune system is a complex network made up of cells, proteins, and organs that protect your body. Advances in technology have allowed researchers, scientists, and physicians to understand this sophisticated system like never before. Immunai, cofounded by Noah Solomon, leverages machine learning and artificial intelligence to provide a complete profile of the immune system. The company just launched from stealth with a fresh $ 20M in funding. Noah shares with us how Immunnaii is building the largest database for immunology.
AlleyWatch

Interview with a marketer on how she repositioned a product that went on to make $1 billion in revenue: the process of customer discovery, understanding your true competitors, and finding the unique value that your customers love. (Transcript/ Podcast/Discussion)

Hi all,

This created a great discussion when I posted it originally on r/marketing so I thought I'd see if you like it, too.

I've had the opportunity to interview April Dunford (veteran marketer, author, keynote speaker, and positioning expert.)

She told me a story from when she was a young product marketer a year or so out of college. A product her startup launched failed to gain the traction they expected, and she was tasked with calling all the customers to gauge how annoyed they would be about the product being discontinued.

She found that while 95% had never heard of the product, there was this 5% who were ecstatic about it. But, they weren't using it in the way it was intended.

I'm sure you can guess what happened next from the title – they repositioned the product for those who loved it most, and it was a major success (selling to Psybase and then SAP where it still lives on today, 20 years later).

Here are the unique learnings I got from April:

– Throw away the traditional product positioning statement (For X, is a Y, which provides Z value). It's unclear and the output is a weird, unsharable sentence.

Find out why your best customers love what you do, and position your product in a way that isolates what they love most. In this story, they tried to sell a database that was an alternative to Excel but no one wanted that. What their customers loved was that it was packaged small enough to be able to use it on mobile devices. Repositioning: embeddable database for mobile devices.

Find your competitive comparable. Don't make the mistake (as I did before) of thinking your competitor is another company who makes similar software. It might be, but it's likely that your real competitor is something more simple: the way your customer is solving the problem right now. If they are using an intern to do that annoying task, then you better be explaining why your product is better than chucking an intern at the problem.

– Finding your true competitive comparable means you can isolate your uniqueness. Your positioning can now include "Our customers value us because of X, Y, Z unique features that an intern does not have".

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Startups – Rapid Growth and Innovation is in Our Very Nature!

Understanding Duolingo’s quiet $10M raise

Earlier this month, edtech unicorn Duolingo raised $ 10 million in new venture capital from General Atlantic, per an SEC filing. With the raise, the online language learning platform accepted its first outside investor in almost three years. General Atlantic will take a board observer seat at the company, per Duolingo.

The company, which was last valued at $ 1.5 billion, says the round has increased its valuation, but it declined to share by how much.

General Atlantic has invested in a number of edtech companies around the world, like OpenClassrooms, Ruangguru and Unacademy. Duolingo said that General Atlantic’s global platform and experience with online education in Asia would help guide its own growth, specifically pointing to its plans to scale up the Duolingo English test.

The e-learning company last raised $ 30 million in December at that $ 1.5 billion valuation. To raise a smaller sum a few months later is uncommon. Historically, that type of raise could happen for a number of reasons: a company is accepting a later investment as part of the same funding round, it needs more cash and this is an easy way to raise it or the company tried to raise a new large round and failed to secure past $ 10 million.

So where does the language learning unicorn fit?

In Duolingo’s case, it said the $ 10 million was raised because it wanted to bring a new investor on, but didn’t need a massive amount of primary capital. Duolingo says it is cash-flow positive.

In the past few weeks, Duolingo launched a new app to help children read and write, passed one million paying subscribers for Duolingo Plus and disclosed that its annual bookings run rate is $ 140 million. The company also recently hired its first CFO and general counsel.

“Because our business has been growing very fast and we have more than enough capital, there was limited need for us to raise more primary capital. However, over the last year, we developed a relationship with General Atlantic,” the company said in a statement to TechCrunch.

Tanzeen Syed, a managing director for General Atlantic, said that Duolingo is a “market leader in the language learning space. Syed also said Duolingo has a “profitable, efficient business model while maintaining hyper-growth characteristics.”

Another key factoid here is that along with the $ 10 million, there was a larger secondary transaction, which occurs when an existing stockholder sells their stock for cash or to a third party, or to the company itself while the company is still private.

In this case, an existing investor in Duolingo sold a small portion of their existing stake to allow General Atlantic to have a bigger stake in the company.

The company declined to share the size of the secondary market transaction.

In light of this new information, Duolingo’s expansion to Asia, which has a robust market of English learners, welcomed one investor and lessened the stake of another.

Based on what we know, the transaction signals that a preexisting investor in Duolingo was looking for liquidity at a time where the public markets are tightening and private markets are pausing. And at a time when companies are staying private longer than ever before, secondary transactions are hardly rare.

Sometimes, however, secondary transactions signal a lack of faith from a preexisting investor in the company’s current trajectory.

Duolingo is full steam ahead on its goal to expand across the world — and now has new cash in the bank, and a new observer seat on the board, to prove it.

Startups – TechCrunch

Understanding Omni-Channel Opportunities with Square at Founders Day

Guest Post: The following post is a sponsored guest post by Square, Inc. All views and opinions represented in this post are the views and opinions of Square, Inc. and do not represent those of 500 Startups or any of its staff or affiliates. For many startups in the 500 portfolio, understanding how they can make the easiest, most seamless transactions possible is a top priority. They don’t want to have to worry about their customer not being able to find an easy way to complete a sale due to credit card processing issues. Instead of just introducing them to some of the top credit card point-of-sale companies, we wanted to bring together both parties for a conversation around what’s …

The post Understanding Omni-Channel Opportunities with Square at Founders Day appeared first on 500 Startups.

500 Startups

Free Resources for Understanding COVID-19 Financing Options

Are you overwhelmed by the sheer amount of information out there about COVID-19 relief loans? Not sure where to start when it comes to what you might be eligible for?

You’re far from alone. Information is being updated nearly hourly, and the various small business funding to make it through the coronavirus pandemic is a difficult concept to grasp.

I’ve spent the last few weeks with my nose to my computer sifting through hundreds of articles and resources, so I wanted to share the ones I thought were the most valuable in order to help you understand your options.


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Start with the SBA

Naturally, it makes sense to go to the source. The Small Business Administration is offering two loan programs to help businesses negatively impacted by COVID-19:

  • The Economic Disaster Injury loan program will provide low-interest loans up to $ 2 million to businesses impacted by COVID-19. It includes an advance of up to $ 10,000, which does not have to be repaid.
  • Then there is the Paycheck Protection Loans program, which will provide up to 2.5 times a business’ average monthly payroll for the previous 12 months (up to $ 10 million total). You may be eligible for forgiveness if you keep workers on the payroll for the eight weeks after you get one of these loans.

Check with local governments and nonprofit organizations

Each state (and most local governments) has COVID-19 resource pages, grants, and loans for local businesses. However, some of these programs are already closing out due to popular demand. It’s worth it to bookmark your city and state pages and check for the latest information, though.

Also, your local Small Business Development Center is a valuable asset, as many are helping with the loan application processes. And the SCORE Coronavirus Small Business Resource Hub has great content for you, too.


Related: WJR Business Beat with Jeff Sloan: Fear of Failure During COVID-19

Additional resources

Federal, state and city governments aren’t your only resource for financing to help you through. Many private companies are offering grants, including:

Some companies are helping in other ways. For example, Nav has a free CARES Act SBA Loan calculator to help you figure out how much you’re entitled to through SBA COVID-19 loans. Additionally, Nav has a Facebook group called the SBA COVID Loan Insight Hub, where experts answer questions from business owners like you about the SBA loans.


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While you wait

Though all small business owners and entrepreneurs who are struggling wants the SBA funds to be available quickly, we’re already hearing about delays in the process, simply due to the sheer demand for these funds.

While you’re waiting to receive your SBA loan funds, you can get free training and educational content from:

This list serves as a reminder that you’re not alone. I know it can feel isolating to have your business disrupted and no customers coming in the door. But know that these resources are here to alleviate at least a little of the pain you’re feeling.

The post Free Resources for Understanding COVID-19 Financing Options appeared first on StartupNation.

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