Before we get to the central part, we would like to explain the kinds of business organizations that exist. Most people are not aware of the limitations of every business organization.
You should know there are four significant types of business organizations.
Choosing what kind of business organization your company will be is the most crucial decision you make regarding your company.
It is going to take in a ton of factors for you to decide what kind of business organization you want your company to be, and it will ultimately decide the way your company will be headed towards.
You should make sure the kind of business organization you decide your company to be and your company’s goals go hand in hand.
Why is why you must know all the kinds of business advantages that exist.
You should know what does PVT mean, what does LLP mean and what does INC mean in business.
- There Are Mainly Four Types Of Business Organizations:-
- What Is A Start-up?
- Why Does Your Start-up Need A Digital Marketing Agency?
- Top 15 Digital Marketing Agencies For Your Start-up
- 1. Crafted
- 2. Mobiteam
- 3. Digital Uncut
- 4. WEBITMD
- 5. Blue Fountain Media
- 6. RNO1
- 7. Tangent
- 8. Crowdform
- 9. Maple Forest
- 10. Momentum Design Lab
- 11. DIJGTAL
- 12. Beyond
- 13. The Charles
- 14. Flight Path
- 15. Dentsu Webchutney
There Are Mainly Four Types Of Business Organizations:-
● Sole proprietorship
● Limited liability partnership, popularly known as LLP.
There are two kinds of partnership: limited partnership and general partnership.
The type of investment is different in both kinds of partnership. If you want to open a general partnership business, you and your partner have to invest labor and property in equal amounts.
Both of you will be 100% liable to the company, and your liability will be unlimited. You need a formal agreement for opening a business with a general partnership.
A verbal agreement is enough for two business people to start a general partnership. In a limited partnership, your liability to the company becomes limited other than that, everything is the same.
The most important thing about a limited partnership is that you need a formal agreement.
You also need to file a partnership certificate with the state in which you are residing.
There are several pros and cons in a partnership firm.
- As more than one person can be a part of a partnership business, it means that the resources get shared, and more capital is acquired for the business.
- Every partner is entitled to the total profits made by the company
- A partnership business is the same as a sole proprietorship.
- Partnership businesses are not very expensive to establish and can be started without doing much paperwork.
- Each partner is liable to the full extent for debts and losses incurred by the firm.
- The business can’t be sold easily as it requires finding a new partner.
- Partnership business can end whenever a partner decides to end it
2. Sole proprietorship
You should know about sole proprietorship as it is the most basic form of business. A sole proprietorship is owned by someone or a group of people for their benefit.
If the owner wants, he can pack things up anytime. He is not liable to anybody.
The existence of the business is solely dependent on the decision of the owner. So if the owner meets with an accident and dies, the business dies with him.
Pros and Cons of a sole proprietorship
- The owner of the company can enjoy all the profits.
- Very little to no paperwork is required for sole proprietorship businesses.
- The owners can run the business just the way they want it.
- Only a business license is required for starting a sole proprietorship.
- Like a partnership business, in a sole proprietorship, the owner has unlimited liability for all debts or losses incurred in the business.
- The ownership of the business can’t be transferred very easily.
- Personal income and income from business are the same.
When separate businesses are taken to be a legal person, it is called corporations. This means the revenue from the business can be taxed as ‘personal income.’
The equities given to the shareholders can be taxed as dividends, and profits can be taxed again.
Down below are the pros and cons of corporation business.
- The best pro of a corporation business is that the owners have limited liability towards their debts and losses.
- Corporation businesses can be transferred very quickly to new owners.
- As the liability is limited, owners’ assets will not be considered while paying off debt.
- Starting a corporation business is relatively costly.
- It requires a lot of paperwork to start a corporation business.
- Corporation businesses are likely to be taxed twice.
4. Limited Liability Partnership
It is very similar to a partnership firm but a bit different.
The major difference between a partnership firm and a limited liability partnership firm is that, as the name suggests, the liability is limited and provides some of a partnership’s advantages.
To put it, only the advantages that partnership firms and corporations have are mixed into an LLP.
Pros of an LLP
- Owners are not 100% liable for the debts and losses that the firm incurs.
- Owners share the profits of an LLP without the con of double taxation.
Cons of an LLP
- State Laws intervene while starting this partnership.
- The cost of starting an LLP is significantly high due to filing fees.
What Is A Start-up?
Since you are reading this article, you must be knowing what a start-up is, but some have this misconception that start-ups are small businesses.
A start-up is a relatively new company founded by more than one or more than one entrepreneur who is about to create a particular product.
Down below, we talk about the kinds of business organizations in detail and what service advantages they provide.
What Makes Start-Ups So Unique?
At the beginning of creating a startup, there is very little to no revenue for the owners. That’s why they need funding.
Most businesses take loans from banks or credit from money lenders or family.
Most startups fail as they have taken on ideas that are totally new and noone is ready to fund them and even if they develop a solution, it usually fails.
Investors are hesitant to invest because they have no history of profit or loss statements to show.
Why Does Your Start-up Need A Digital Marketing Agency?
Your start up definitely needs a digital marketing agency as a digital marketing agency will help your start up grow as it will be creating an online identity for your start-up.
They will help you promote your start-up digitally in every way possible. A digital marketing agency employs SEO tools to help your business in google rankings.
A digital marketing agency consists of digital marketers who make use of several marketing strategies to promote your business online.
The main reason why your start-up needs a digital marketing agency is because the overall goal of it is to promote your business and generate as much traffic as possible.
When you get connected to a digital marketing agency, organic traffic increases which in turn attracts viewers to your company’s website.
Top 15 Digital Marketing Agencies For Your Start-up
If you have come this far in this article it means that you definitely own a start up. Which means you have to look after a lot of work related to your start-up.
I myself own a start up and therefore I am able to relate with you. That is why you need a digital marketing agency.
Their main objective will be to give your start up an online identity and digital presence.
In this day and age, the key to growing your business is to build a very strong online identity.
It is natural for your customers to look up online for your business, if you don’t have a strong online identity then they will not be able to find our business or know more about your business.
Crafted is a New York based digital marketing agency. It offers 360 degree solutions to your brand. The services that they provide include branding, marketing, development.
The founders of Crafted were entrepreneurs who made it their mission to bring something new in the industry of design.
Mobiteam is a digital marketing agency that serves the needs of startups. It offers development in custom software. They have a huge range of technologies. The country of Origin of Mobiteam is Germany and its headquarters are located in Berlin.
Digital Uncut is a UK based Digital Marketing Agency. They are the team behind some of the most popular start-ups in today’s world. It has its headquarters both in London and San Francisco.
They claim to be the start up agency for Start-ups. They have a very experienced team that work only with start ups.
WEBITMD is one of the most popular Digital Marketing Agencies in the world. It is actually a growth and sales agency. What I like about this digital marketing agency is that they have built a set of strategies specifically to help start ups, it is called Grow Stack.
It has helped a lot of companies including Fortune 1000 organisations to grow and create an online identity.
Blue Fountain Media is one of a kind in the categories of digital marketing agencies. They value their clients and find out what they love, want and need for their start ups.
They use data driven technology to converse with their clients and they also ensure that the clients get the maximum benefit out of it.
RNO1 is a digital marketing agency that only works with startups that are focused on growth on all places and platforms. If you do not believe me take a look at their portfolio, it includes works of both start ups and major companies.
Tanget has its headquarters located in London and Manchster. It offers digital marketing solutions to clients such as content marketing, web development, web design and UI/UX.
They value their customers a lot as they share everything in their working process with their customers. It is undoubtedly the best digital marketing agency for a start-up.
Crowdform is an award winning London based digital marketing agency. Their primary aim is to build websites, apps and form marketing campaigns to help start ups. They are certainly good at what they do.
9. Maple Forest
Maple Forest actively helps start-ups that need a good approach to help them grow. They are headquartered in London.
Maple will take the initiative to assign a personal employee to help you with your start up.
It is an agency which is human centric and is headquartered in New York, London and San Francisco. They provide IT and consulting services to Startups. They also provide marketing solutions, competitor research and a lot more.
Dijgtal is a new digital marketing agency which helps both large scale organisations and start-ups. They provide services such as branding, social media marketing and content marketing.
Beyond is headquartered in London, San Francisco and New York. There is a very popular digital agency when it comes to start-ups. They provide services such as branding, social media marketing and content marketing.
13. The Charles
With their offices in New York, Charles can help your start-up have a prominent online identity if you give them a chance. Visit their website to see their portfolio.
14. Flight Path
Flight Path is a digital marketing agency that is headquartered in New York. They are very good at what they do.
They have realized how crucial PPC and SEO are because when both of these are done properly they provide growth and that’s exactly the thing start ups look for.
Webchutney has worked with some leading companies in India. Web Chutney has won the DMAI awards for its projects for Remit2India, Standard Chartered and Cleartip.
They have offices in Mumbai, New Delhi and Bangalore.
A digital marketing agency will create content for your business and share it online.
You need a professional hand from a digital marketing agency as managing a website can be quite difficult unless you have the time and resources to do everything by yourself.
A digital marketing agency will not only help you create your online identity but it also makes optimum use of your monetary resources.