ThINC Green
Everyone remembers the absurd gasoline prices of approximately $4-$5 per gallon or more the US experienced a couple of years ago. Gas prices may have decreased since then, but they still remain at higher than average levels. Now is the time many entrepreneurs are exploring options to capitalize on alternative gasoline dependent markets, as well as other forms of clean technology.
Environmentally friendly industries are currently growing at a time when many others are dwindling. According to MSNBC, the fastest growing sectors are recycling, energy efficiency, solar, wind and water conservation. This “green” market is a hot bed for innovative thinkers and entrepreneurs who have what it takes to start a ground-breaking environmentally responsible business on their own.
A 2008 Dechert LLP Annual Report on Trends in Trademarks indicated 2007 was the busiest year ever for trademarks. There were 300,000 applications for the first time in history, which surpassed the old record of 289,000 during the Internet surge of 2000. The word “green” was the most popular branding of all trademark applications. In 2007, the number of applications containing the word “green” increased from 1100 to over 2400. This was the third year in a row in which the word “green” has significantly increased in the number of applications. Applications for incorporating the word “earth” increased approximately 60% from 550 to over 900 in 2007.
Due to the recent economic downturn, it is only inevitable that the overall number of patent and trademark applications have decreased. However, the Dechert LLP Annual Report for 2009 indicated that “applications for marks containing the word GREEN increased 32% in 2008 (to more than 3,200 filings), ECO-prefix marks were up 86% (with 1,700+ applications), and applications for more than 500 ENVIRO-marks were filed, representing a 22% jump. The word CLEAN was also a popular buzzword, appearing in over 1,000 marks to suggest environmental friendliness, up 30% from the year before.”
While there are some industries that will suffer from the hardship of extreme gasoline prices, there are other markets that will flourish. Being environmentally conscious is a worldwide trend that will continue to escalate and intensify during the coming years. When considering starting a new business venture, think how the new company can prosper and thrive in an ever growing “green” world.
Current Best Industries for Business
Filed Under: Trend Report
Tags: Articles of Interest, Business Tips, Trend Report
Looking for the best new business opportunities? Wondering what industries will lead the way for new business filings in the future? Obviously, most business people should be; since these trends will affect their business opportunities as well. Based on a recent article in Inc. Magazine the five top best industries for new business are as follows:
- Environmental Consulting – Going green is no fad – it is a very real and growing industry and is valued at $17.8 billion and is expected to grow by 9 percent per year for the next 5 years. Every business sector can expect to be affected by the green wave. Expertise will be in demand for air, soil and water quality management.
- Translation and Interpretation Services – The old adage that “talk is cheap” does not apply to the new global economy and basically any service that can bridge the communication gap is very valuable. This segment grew at 18 percent last year and is a $2.7 billion industry. Budding segments within this industry would include healthcare, website translation and multi-language marketing materials.
- Home Health Care – Even with the current legislation – this segment is expected to expand by an average of 4.9 percent for the next 4 years. Out of hospital care and less expensive alternatives are very appealing to the growing elderly population in America. Physical therapy fields and non-medical home-care hiring are expected to be the leading segments.
- Mobile App Design – It all started with the iPhone and now with the iPad and all the web-enabled devices available – the market for mobile apps has never been greater. Demand will be high for programmers, developers and designers. According to the Dow Jones Venture Source – in the past three years – location based apps have received $656 million.
- Ferryboats and Inland Water Transportation – Yes – believe it or not – the old fashioned ferryboat is making a comeback. Sparked by a rise in urban highway congestion – privately run ferry services as well as tourist excursions are on the increase. A high concentration of success has been found in the Pacific Northwest and the Great Lakes. As part of the 2009 Economic Recovery Act – the production of ferryboats and terminals is expanding. This industry grew about 17 percent last year. One new Coast Guard certified ferryboat that carries 150 passengers costs about $6 million.
While no new business venture is a sure thing – these trends certainly deserve some attention and those who are able to offer complimentary services to these industries are targeting a very real and successful goal. Whatever industry you serve – we at Harvard Business Services, Inc. are happy to serve you!
The Rise of the LLC: A Matter of Trust
Filed Under: Delaware, Limited Liability Company, Trend Report
Tags: Delaware, Incorporating, Limited Liability Company
If you had to guess which entity is number one in Delaware – would you say an Inc. or LLC? According to a recent report found in the Fordham Journal of Corporate and Financial Law; the statistics are staggering. Since 2004 the number of LLC’s filed in Delaware has surpassed the number of Incorporations by almost 3 – 1.
The total number of LLC’s filed in DE from 2004 to 2009 was 519,000. The total number of Inc.’s filed during the same period was 189,000. There were 329,000 more LLC’s filed in DE than Inc.’s in that six year period. The most dramatic increase in the LLC’s filed occurred between 2005 and 2007. Through that two-year period there was an increase of 40% more LLC’s filed when compared to 2004. In 2007, there were 112,982 LLC’s filed in DE versus 68,807 filed in 2004. The total number of Incorporations has fallen every year since 2005. The dramatic economic crisis which began in 2008 had an impact on each entity type; although the LLC still out paced the Inc. by more than 50%. Why are these numbers important? What can we learn from them?
Well, first of all when you consider that the Delaware Incorporation has been in existence since the 1800’s and the Delaware LLC since 1991 – this change has obviously occurred over a very short period of time. The LLC is now the most popular type of entity filed in America. In fact; according to the study, the LLC is being filed by almost 11 to one over the Inc. in some other states.
Business people from all walks of life are placing a great deal of trust in this relatively young corporate entity type. In the past, most business endeavors sought the structure of the corporation to provide stability. The security, flexibility and informalities associated with the LLC have made it an obvious choice for many entrepreneurs and investors. We now live in a world that is more litigious than ever and your business deserves ample protection as do you and your assets. The LLC can typically shelter any type of business or assets and provide separation for the individuals involved. It is very simple to operate and the burden of management associated with a stock company is greatly reduced.
However, the most important factor is still – trust. The LLC has withstood the legal challenges of the past 19 years and has established itself as a very worthy entity. Also, we can conclude that the LLC is helping many individuals and small groups realize their business potential. The LLC is very well suited for a more intimate business strategy. The privacy offered is also appealing to many; since we are all faced with the threat of identity theft in this age of immediate information.
Harvard Business Services, Inc. has been filing LLC’s since 1991. We know firsthand how valuable the LLC is to most business people. The LLC may be just right for you and if there is strength in numbers…..well you will be joining a very strong group! We can help you file your LLC today.
Newest Entrepreneurs: Students to Baby Boomers
Filed Under: Articles of Interest, Trend Report
Tags: Articles of Interest, Entrepreneurs, Startup, Trend Report
It isn’t the $787 billion American Recovery and Reinvestment Act of 2009, or the $700 billion bank bailout. The real economic stimulus package is becoming the recession itself! In this upside down economy, traditionally unlikely groups are jumping in.
In the years since student Michael Dell scrounged up $1000 and turned his room into an assembly line, many more students are following his lead. Faced with a bleak job market, enterprising students see advantages in starting their own company; costs are coming down and pressures on nimble, low-cost upstarts aren’t as great. Growth is often a result of the internet, where snazzy websites don’t betray a home-based operation. Entrepreneurs can be more profitable with less need for capital or office space. Taking a risk often isn’t the leap of faith it used to be. According to the Challenger, Gray and Christmas’ job market index, 8.9 % of job seekers started their own businesses in the second quarter of 2009, way up from the record low of 2.7% in the last quarter of 2008.
Young entrepreneurs may be in the spotlight, but baby boomers are becoming business owners faster than any other group. New businesses started from 2007 to 2008 by 55- to 64-year olds grew 16 percent, faster than any other group, according to Ewing Marion Kauffman Foundation, a nonprofit group that studies U.S. business start-ups. They predict a sustained boom, not in spite of the aging workforce, but because of it! This group has built-in advantages including accumulated business knowledge and funds, as well as a network of people to tap as customers, suppliers and financial advisors. Many find that starting a business around lifelong interests or past passions is very rewarding as well as profitable.
With this trend, the next decade will see the growth of small businesses continue, and the social and economic impacts of small business increase.
To read articles on this topic, click HERE and HERE.
Social Networking for Small Businesses
Filed Under: Trend Report
Tags: Entrepreneurs, Small Business
Gone are the days when social networking websites were only for college kids. It is essential for small business owners to be utilizing all of the free social networking tools out there. It’s a great way to make the internet work for you! Below are a few websites that are a great place to start.
LinkedIn: According to the site, more than 60 million professionals in 200+ countries use it to network, stay on top of the industry and establish new contacts.
PartnerUp: is an online community targeted at small business owners and entrepreneurs.
Ryze: is a social network for businesses that gives members a free homepage, from where they can send messages to other members. Users can also join networks related to specific industries, interests and locations.
Xing: is a global network that boasts more than 8 million active members using the site to manage business contacts.
