Uber teams with start-up Grand Rounds to give big-company employees free rides to the doctor

Uber is partnering with Grand Rounds, a start-up that sells into the employer channel, to make it easier for employees to get to the doctor.
Health and Science

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Canada backs startup to boost data on space debris

The Canadian government’s contracting arm is backing a proposed new satellite system that will use big data analytics to provide commercially available data about the Earth and its orbit amid growing concerns about the risks posed by space debris.


Reuters: Science News

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How an Accountant Can Help You Plan Your Startup

Whether you’re about to start a business or you’re setting
goals for an existing one, an accountant can help you create a solid Business
Plan with accurate financial calculations.

A Business Plan is a fundamental document for startups, with
information that encompasses several aspects of your business. Business owners
often create a plan to identify their goals, objectives, and strategies for
success; they’ll often use the plan to pitch their business idea to potential
investors and prove their ability to organize and accumulate resources.  

It’s common for companies to include hard numbers in their
plan to outline their company’s assets, production and operation costs,
calculated profit margins, and loan or investment repayments. In some
instances, companies will also attach their general financial statement.

So, when it comes to crunching numbers, business owners are faced with a decision: what’s worth more—time or money? On one hand, you could save money by managing your finances by yourself. On the other hand, you could save time by hiring a professional to crunch those numbers quicker than you ever could.

In this post, learn how hiring an accountant to organize and communicate the financial data can help you start a successful business.

Creating Financial Projections

Financial projections are a crucial aspect of a Business Plan because they provide a clear understanding of your current financial situation and a prediction of your full profit potential. However, a common problem associated with starting a business is being overly optimistic with financial forecasts. Although your calculations may seem conservative at first, achieving your business goals could take longer and cost more than you would think.

Accountants know that investors are looking for a realistic financial forecast, so they’ll
follow certain procedures to come up with believable projections. For instance:

  • They’ll examine your income statement, assessing the money you’ll earn (revenue) and
    spend (expenses).
  • They’ll create an accurate cash-flow projection, showing investors or loan officers your low
    credit risk.
  • They’ll summarize numbers in a balance sheet, painting a picture of
    your business’ net worth.

Finally, an accountant will present this information in a way that’s easily understood, often including charts and tables for demonstration.

Estimating the Cost of a Startup

After creating a comprehensive financial projection, an
accountant will have a clear view of the costs for starting your business. Too
many businesses fail because they don’t properly estimate the expenses for
their startup.

For instance, an owner might plan for the costs associated with renting a work space, filling inventory, and hiring employees, but they may overlook the price of office equipment, marketing and advertising, and the legal fees involved in setting up a Limited Liability Company or Partnership.

An accountant can help you identify one-time expenses, like
incorporation fees, from ongoing expenses, like taxes, so you can determine how
much money you’ll need to run your business.

Further, an accountant knows that some expenses can be
deducted (written off) from a business’ taxable income; they can help you write
off certain expenses, lowering your taxable income and increasing the amount
you save on taxes each year.

Managing Loans and Investments

The money you use to start your business may come from your personal savings, investments from a wealthy individual, a bank loan, or any combination of sources.

With multiple streams of money, it may be difficult to keep
track of payment deadlines and how much you owe to whom. An accountant can help
you pick a loan that works best for you and help you create an effective
payment plan so that you can pay off that debt as quickly as possible. They can
also help you decide if it’s worth it to refinance or consolidate your loans,
or cut unnecessary spending so you don’t fall deeper into debt.

Do I Need an Accountant for My Business?

Effective money managing can be the deciding factor for a
startup’s success or failure.

In the end, whether you choose to do your own calculations
or ask an accountant will depend on your situation. You may feel confident in
your own ability to manage your finances, or you may prefer to spend your time
focused on other important tasks.

Just keep in mind that hiring an accountant can be
worthwhile when it comes to creating realistic financial projections,
estimating honest startup costs, and efficiently managing your loans and
investments.

The post How an Accountant Can Help You Plan Your Startup appeared first on LawDepot Blog.

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This start-up wants to help teachers buy their own homes

America's teachers are under financial pressure with student loan debt and low salaries, but one start-up is attempting to help our educators generate wealth through homeownership. Alex Lofton, co-founder and head of growth at Landed, a company offering down payment support and financial coaching to educators in the market for a home, joins "Squawk Box" along with an investor in the project Alexis Ohanian to discuss how the business model works.
Real Estate

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The Trump administration is forcing this health start-up that took Chinese money into a fire sale

PatientsLikeMe sold a majority stake to Chinese company iCarbonX in 2017. The deal is backfiring now that Trump is clamping down on China, as CFIUS forces the Chinese firm to divest its majority stake.
Health and Science

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Second Chinese rocket startup fails to put satellite into orbit: state media

A rocket developed by OneSpace failed to reach orbit after lifting off from a state launch facility in northwestern China, state media reported on Thursday, the second failed orbital launch by a privately funded Chinese firm in five months.


Reuters: Science News

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Delivery startup Dumpling poaches rivals’ veteran employees

Grocery delivery giant Instacart is facing new competition in the supermarket aisles — including from its own workers. A startup called Dumpling secured nearly $ 5 million in funding this month as it challenges Instacart — as well as rivals Doordash and Postmates — including by poaching their veteran workers who deliver groceries to customers’ homes….
Business | New York Post

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Digital startup Cheddar to debut on Spectrum as it looks for scale

Jon Steinberg has gone from unicorn — a digital business with a valuation of more than $ 1 billion — to what he calls “a little acorn” with his current venture, Cheddar Inc. From 2010 to 2014, he was the president of BuzzFeed, which grew rapidly but more recently has been forced to make wrenching cutbacks….
Media | New York Post

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Ex NATO Chief Joins Blockchain Startup Concordium As Strategic Advisor

Former NATO chief Anders Fogh Rasmussen joined Switzerland-based blockchain identity startup Concordium as its strategic adviser. Concordium, the world’s first identity-validating, regulatorily compliant blockchain network, is led by Saxo Bank co-founder Lars Seier Christensen. Rasmussen served three terms as Prime Minister of Denmark from 2001 until 2009. In the same year, Rasmussen was elected
RTT – Top Story

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Russian rocket glitch to delay satellite launch for U.S. startup OneWeb

The launch of a Russian Soyuz rocket set to carry satellites into space for U.S startup OneWeb has been delayed after an anomaly was discovered on the rocket, company chairman Greg Wyler said on Thursday.


Reuters: Science News

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When Skynet meets Elizabeth Arden: A beauty startup sees A.I. as the key to flawless skin

The U.S. skincare market is worth an estimated $ 7 billion. Yet despite the wealth of products available promising flawless, ageless skin, consumers are frustrated by the low success rate. Skincare start-up Proven Beauty believes it has the answer.
Health and Science

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Alumns from this failed health tech start-up now hold key roles at Apple, Amazon, Alphabet and others

In 2012, Quanttus set out to make a smart watch that could measure blood pressure around the clock. It failed but the dream lives on, as Quanttus alumns spread out to companies like Apple, Alphabet, Amazon, Fitbit, Nike, Samsung and more.
Health and Science

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Disruption makes startup investors balance caution against fear of missing out

A new study finds that fear of missing out motivates investors to give money early to startups with a disruptive vision. However, those backers are reluctant to invest too much in unproven ideas that might not take off. In other words, disruptive startups are more likely to raise money, but they receive smaller amounts than less-threatening ventures.
Consumer Behavior News — ScienceDaily

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