How To Find Angel Investors and Kick-Start Your Business

Looking to borrow money or make an investment? Understanding APR and APY in banking will help you make the right decision for your personal or business finances. If you’ve ever invested or used credit products, you’ve considered the interest and therefore encountered the terms APR and APY at some stage. So, what difference does one letter make? Well, it marks the difference in how these financial items impact your finances. The APY vs. APR distinction delineates the most important types of accounts: Savings/investment accounts and lines of credit. Here’s everything you need to know. APR vs. APY: The Definitions As you know, both terms are acronyms. APR is an abbreviation for annual percentage rate, while APY stands for annual percentage yield. Both signify a type of interest, and understanding them requires understanding compound interest in general. Compound interest is “interest you earn on interest.” For example, standard interest is calculated as follows: Principal figure x Interest rate x Term of agreement (usually in months) On the other hand, with compounding interest, you will pay or earn interest on this interest. Without worrying too much about the complex formula, the key outcome is that interest grows with every payment cycle. What Is APR? APR in banking represents a percentage of a loan principal you’ll pay in interest for a year. In other words, APR is a borrowing term, not a savings term.  The APR figure is achieved by multiplying the interest rate by the number of payment periods in the year. As a formula, this is expressed as: APR = interest rate x number of annual payment cycles Most financial products use a month-based payment cycle model. In the US, lenders are obligated to inform clients of the APR on any credit agreement, as per the 1968 Truth of Lending Act. APR includes the total borrowing costs over a year, so it should be the biggest deciding factor when considering a loan. What Is APY? APY in banking can relate to both borrowing and savings. In lending, APY represents the percentage of your principal you’ll pay, but with the compound interest taken into account. Although not as commonly used on borrowing, APY can be deemed more accurate than APR as it takes the compounding interest into account. Still, APY is rarely used when describing loans, and is primarily a term encountered with savings accounts. As a formula, this is expressed as: APY = (1 + Periodic Rate) x Number of periods – 1 In other words, what APY is on a savings account, is essentially the total interest you’ll earn on a deposit account over one year, assuming that no deposits and withdrawals are made. APR vs. APY: The Differences Have you ever noticed that you’ve most commonly seen APY mentioned by investment companies and savings account summaries, while credit lenders tend to focus on APR? Once you see the two in practical examples, it becomes easy to see why. If you were to borrow $1,000 with an APR of 6%, you would essentially be paying 0.5% interest per month (6% divided by 12). Each month, the interest would be $5, making for an annual interest total of $60. Conversely, as per the APY definition in banking, the APY would mean you pay the same $5 in the first payment period. However, in the second month, you would pay 0.5% on the new balance of $1,005. And so on. Over the course of a year, it would mean paying 6.17% in interest. In this example, that’s only an extra $1.68. However, with bigger sums and a more realistic interest rate in mind, it’s easy to appreciate how it can impact every loan. Consumers looking at credit cards, loans, and other forms of lending often prefer APR as it delivers a clear bottom-line figure. This makes it very easy to compare financial products from different lenders, but it conceals the compound interest. When borrowing money, APY gives you a clearer understanding of what you’ll actually pay compared to the promoted APR. So, it may be the key to avoiding unexpected interest costs over the term of your agreement. If you are an investor or lender, though, APY is the only thing you should be concerned with, as you won’t be paying interest - just collecting it. APR vs. APY in Crypto In addition to traditional financial products, APR and APY are two tools that are now used by lenders and investors in the crypto arena. They work the same as they do in fiat finances: APR is the interest a trader will pay on a crypto loan over the course of a year, while APY is important for investors, as it represents the return they can expect annually. This is because it takes into account the fact that the initial investment is continually re-invested and gives you the compounding results. However, since crypto is extremely volatile, neither figure really tells borrowers or investors much about the future, as the same percentage could equate to wildly different figures in the span of just one year. The Final Word On APR vs. APY Both APR and APY are essential terms that relate to interest payments and may subsequently significantly influence your overall repayment obligations on borrowing accounts or the interest gained on investments and savings accounts.  With a deeper understanding of both terms, making a calculated decision regarding the best financial products for your situation should become a lot simpler - don’t shy away from using an APY calculator, either, as that will give you the most precise numbers you might fumble while doing maths by hand.

When you’re about to launch your company, choosing a name is at the top of the list of tasks. However, to be safe, first you need to check that it doesn’t violate any existing trademarks. If it does, you could face a lawsuit.  Furthermore, if there’s a name you love, it would be a good idea to avoid creating any marketing materials or building a website until you’ve run it through a business name checker. Otherwise, you may have to rework everything, losing money in the process.  In this post, we discuss how to check if a business name is taken. You’ll then learn how you can register your business name to protect it.  Ways To Find out if a Business Name Is Unavailable Here are some methods for ascertaining if a business name is taken. State Business Name Search  Each US state has an agency responsible for business filings that allows you to check if a business name is already in use. You either make a formal request using a form – the old-fashioned way – or you search its publicly available databases online. If you search online, it will take mere seconds to find out whether your company name is taken.  If you find a name that is similar to yours, but not the same, you’ll want to check your state’s rules for what is acceptable, and what is not. For instance, you may not be allowed to register the name MacDonald’s because it is too similar to McDonald’s. As each state has slightly different rules, if in doubt, contact an attorney. Trademark Business Name Check Whenever companies create a new trademark, they add it to the US Patent and Trademark Office (USPTO) register, which becomes searchable by anyone in the business community. A trademark business name check is a nationwide, federal-level check that allows you to see all of the current trademarks.  You’re most likely to run into trademark business name problems if: The company name is taken or similar to an existing company You operate in a similar industry to a company with a similar name to yours If you aren’t sure whether the name resembles an existing firm’s, then you will need to speak with a trademarking lawyer. They can provide you with further advice.  Check the “Doing Business As” (DBA) Register Some states require businesses to register under a fictitious name with either the county or the city. Companies don’t always use these names for customer-facing purposes, but they do for registration. As such, they often have common law rights to their fictitious names, so you will need to avoid using them.  You can look for DBA name availability by checking DBA registrations. There might be businesses operating in the local area with names similar to the one that you want, even if they do not use them for their brand.  Google Search While Google shouldn’t be your primary means of checking business name availability, it can be a helpful tool. State and national registers may contain errors or incorrect details for some trademarks in operation. Some firms might also be using trademarks that they never registered.  Besides, you may simply wish to check what Google results come up when you type in your company name ideas. You may find, for instance, that:  The search term is too competitive, and the name is close to a common keyword that prevents you from showing up on the first page A business with a similar name sells the same products and services as you There is a company in your local area using a business name that they have not trademarked You can also perform a Google Domain search to find available business names. This lets you see whether anyone else has registered the URL of your business name. For example, if you are a bookkeeper, you might want www.ABCBookkeeping.com as your URL, so it’s worth checking out if the domain is free. Sometimes you will discover that the company name is available on official registers but that the domain is already taken. This could be because the company went out of business but still owns the URLs, or it could mean that somebody took the name in the hope of selling it for a higher price later on. Either way, you may want to reconsider the name if the domain has been claimed or is behind a high paywall.   How To Register Your Business Name In the US, there are four ways to register a business name.  Entity Name Entity names protect the name of your business at the state level. However, whether you need to register legally depends on the state in question.  Business name registration allows the state to identify your business. Most states only permit you to take available business names, though there are exceptions.  Once you have a company name and register it with the relevant formation agency, you have the protection of that name. Your business will appear in the register whenever other entrepreneurs check company name availability.  Doing Business As (DBA) Names States, cities, and counties sometimes require business owners to register their DBA name with them, sometimes called a trade name, or fictitious name. DBA names don’t provide legal protection, but many jurisdictions require them for setting up a business.  Even if you don’t have to set up a DBA by law, it might still be a good idea. DBAs can shield your personal identity from your business name, making you less searchable online. Setting one up also entitles you to a federal tax ID number (EIN) which you can then use to open a business bank account.  States typically allow more leeway for DBAs than for entities. For instance, you can be broader in your descriptions of your business's function.  Domain Name Registering your domain name is essential for the online presence of your business. Ideally, you want a URL that reflects the branding, nature, and mission of your firm. Website names don’t need to be identical to your company name, and are acceptable as long as users can easily recognize that they are linked to your business. Domain names, like trademarks, can last as long as you own them. However, you will need to pay an annual fee to an online register to keep your site.  Businesses register domain names through registrar services, so you’ll need to pick a reliable registrar from an approved directory.  Trademark Lastly, trade name registration is also important. You can use it to protect the name of your business, goods, and services at the federal level.  For instance, Microsoft Corporation is the entity name, while Dynamics 365 is a trademarked service name. Nobody else in the computer software industry can use Dynamics 365 to name their products. If they do, they risk infringement lawsuits.  Trademarking is an effective way to prevent competitors from stealing your ideas. Once your names are in the USPTO’s official trademark database, you can launch lawsuits against any company that copies them. Summary of Business Registration Once you've selected a suitable business name, you must register it. Here’s a summary of what you need to do:  Protect your name at the state level with an entity name Protect your name at the federal level with a trademark name Register a DBA name if required by the state Register a domain name that is similar to your brand name and easily recognized by your customers You can choose the same name for each registration or opt for a different one for every task. Recommendations Once you know how to check if a business name is taken, you can proceed with launching your business operations. Make sure that you consult all the registers described here, both at the state and federal levels, before taking the plunge and opening up your business to the public. This kind of caution is indispensable for ensuring you’re not using a trademarked name, as you could face hefty damages if you are.

Pop-up shops have emerged as an effective, innovative way to raise brand awareness and encourage customers to buy products and find out more about businesses. In recent years, stores have been popping up everywhere, and for many brands, they represent an increasingly important and valuable means of generating a buzz and connecting with customers.  If you’re keen to explore the possibility of launching a pop-up shop, or you run a business and you’re looking for new ways to drum up interest and boost sales, this guide is packed with great pop-up shop ideas.  What Exactly Is a Pop-Up Shop? A pop-up shop is a temporary store, mobile shop, stall, or display, which offers brands the opportunity to sell products, and customers the chance to see and buy items they may not have come across before. Pop-up shops can open in a variety of settings, including shopping malls, vacant retail units, and other premises, such as theaters, markets, cafés, and outdoor locations. Pop-up stores usually run for a set period. They can be beneficial for online businesses, as well as companies or brands that already operate brick-and-mortar stores or premises. Examples of pop-up shops range from jewelry and clothing stores to food stalls, mobile shops, and vending machines.  What Are the Benefits of a Pop-Up Shop for a Small Business? More and more businesses are using a retail pop-up to showcase their brand and attract customers. Here are some of the key benefits of a pop-up shop for a small business: Raise brand awareness A pop-up shop is a brilliant way to introduce customers to your brand and get people talking about your business and the products you sell. You can use a temporary store or mobile pop-up shop to entice prospective buyers and encourage them to find out more. If you sell online, for example, opening a pop-up shop booth or operating a mobile pop-up shop can help you to cast your net wider, attract different audiences, and show people what you sell in the flesh. You can expand your reach and use the opportunity to tell customers all about the business and your backstory while also letting them see and try the products. If customers like the brand and the concept, and want to buy your products, you can capitalize on the first interaction and encourage them to become loyal clients.  Go multi-channel One of the most important benefits of the pop-up shop concept is the ability to go multi-channel. If you usually sell products online, running a temporary store gives you the opportunity to diversify selling platforms, discover new markets, and offer customers more choice in terms of how they buy products from you. Many customers love the speed and convenience of online shopping, but some prefer to go to stores and see and feel products before buying. By offering customers both options, you can create and convert more leads and ensure that you cater to diverse consumer preferences.  Try new products and collect feedback A pop-up shop is a fantastic idea for businesses that are looking to expand their product range or try out new ideas. You can run a pop-up store alongside a physical or online business and use it to introduce new products or services and collect customer feedback. If the feedback is positive and your products fly off the shelves, for example, this is a sign that your new products will fare well once you add them to your website or a physical store. You have the freedom to experiment and conduct market research without the need to invest substantial sums of money. Brands can also demo products that will appeal to different audiences and test the waters before they decide whether to target new customers.  Provide an interactive experience Pop-up markets offer a different proposition for customers who are used to buying or seeing products online. With a pop-up shop, brands can offer an interactive experience where you can test products out or sample them before you buy. This gives a different dimension to online businesses or companies that depend heavily on sensory responses, for example, beauty brands that sell perfumes, gift companies that sell candles, and food manufacturers and retailers. A bakery pop-up shop is an excellent way to attract crowds looking to enjoy delicious new snacks and sweet treats.  Market your business cost-effectively Setting up a business can be costly. If you have physical premises and you want to expand, or you’re considering launching a business and renting a retail unit, for example, a pop-up shop represents a cost-effective way to market your business and carry out research. The cost of running a pop-up shop is likely to be much lower than renting space, and there is more flexibility in terms of contract length. There are also appealing deals on units and spaces that have been vacant for a long time. For owners, it’s better to have the space occupied for a short while than for the unit to be vacant for prolonged periods. This gives businesses leverage when negotiating rates for a pop-up venture.  Pop-Up Shop Ideas There are multiple benefits of pop-up shops for businesses across a range of sectors. If you are looking for pop-up sale ideas, here are some suggestions you may want to steal: 1. Seasonal pop-ups Seasonal pop-up shops are increasingly popular. If you’ve been shopping in the run-up to the holidays in recent years, you may have noticed a few extra stalls, collaborations, or stores. Seasonal stores are an excellent idea to push sales during peak periods and attract attention from customers who are actively looking to buy gifts, decorations, or festive food. Running a seasonal business requires careful money management. If you can host a pop-up store, you could earn a lot of money while spending relatively little on running costs. A pop-up shop is likely to be more cost-effective than renting retail space during the holiday season.  If you’re thinking of launching a holiday pop-up shop, it’s an excellent idea to research locations and choose the right timing. You want to maximize sales by reaching out to customers when they are most likely to make purchases. Most people start buying gifts and stocking their kitchen cupboards between the end of October and the middle of December.  2. Food pop-up shops Have you ever wandered around a market or a mall and been drawn to a store by the smell of freshly-baked bread or delicious chocolates and cakes? Food pop-up shops are popular and they can make an amazing difference to retailers, hospitality venues, and product creators. The great thing about food pop-ups, such as a bakery pop-up shop, is the ability to use products to attract attention and boost sales on the spot. Customers have the opportunity to actually taste the product and see the range of cakes, sandwiches, drinks, or snacks available and they can enjoy samples before they buy. Sampling tents, market stalls, carts, and food trucks can help businesses increase footfall for existing physical premises, including stores and cafés, and encourage buyers and passers-by to learn more by following the brand online.  One of the most effective ways to maximize sales with a food pop-up shop is to draw attention. If you have a line outside your store, people will want to find out what’s so special about it and get involved. Make sure the store looks good, use branding to set it apart, give out samples at the door and lure people in with aromas that make their mouth water.  3. Themed stores Pop-up shops tend to be smaller than traditional retail spaces. If you want to promote your brand, but you don’t have room to showcase the entire product range, consider boutique ideas that center around a theme. This could be linked to the location of the pop-up, the time of year, or special occasions and events. If you sell gifts or decorative items, for example, you could run a wedding-themed pop-up in spring/summer. If you sell confectionery, you could use your store to display festive food in the run-up to Christmas or frighteningly delicious themed treats just before Halloween.  4. Product demos Online shopping is fabulous, but the downside is the inability to see or try products before paying for them. One way to solve this problem and improve the user experience for your customers is to use a pop-up store or tent to provide product demos. From toys for children and cutting-edge gadgets to the latest must-have products for pets, you can use a pop-up to let people take a closer look at products they might have seen online and try them out. If you do plan to take this route, it’s essential to make sure that you check your products before you open and that your team knows how to work them and showcase them in all their glory. Be prepared to do demos, answer questions and provide more information about your brand and the items you’re selling.  5. Vending machines Although most of us usually conjure up images of retail units when we think about pop-up shops, the range of options is increasing and diversifying all the time. You don’t have to stick to popular pop-up shop examples or use classic vendor pop-up shop ideas. Think outside the box to find new ways to raise brand awareness and connect with customers! A vending machine is an ingenious idea for small products. Rather than renting a unit or setting up a stall, you can place vending machines filled with your products at locations that will attract passing trade. From mini beauty products and food to small toys and books, there’s scope to provide a fast, convenient, and fun way to buy products.  6. Outdoor pop-up shops It’s well worth exploring outdoor pop-up shop ideas if you’re selling products that are used outside or you’re looking to attract buyers who enjoy spending their time in the great outdoors. If you’re trying to upsell foods, such as ice cream or cold drinks, what could be better than offering samples outside on a sunny summer’s day? Choose your location carefully and think about the season and the target consumer. You want to select a spot that will enable you to reach buyers who will have a genuine interest in the product.  7. Meet and greet Many businesses and brands now use social media influencers and celebrities to promote, advertise, or endorse their products. If you’re working with influencers or celebrities, or you sell products that have a connection to famous faces, a meet and greet is a striking way to draw crowds. From book signings to makeup or beauty product demonstrations, you can encourage people to come and join you to meet the stars they admire.  8. Mobile pop-ups Mobile pop-up shops offer a raft of advantages. You can move from one location to the next, you can advertise on the go and save money on rental fees. There are many options to consider, including branded vans and vehicles, food trucks, clothing boutiques on wheels, trailers, and tents.  9. Exclusive pop-up shops Most pop-up shops sell items that are either available at other store locations or online. If you’re launching a new product, have you thought about making your pop-up shop exclusive? By selling just one product, you can create a buzz among your target customers and persuade them that they need to attend the pop-up to get their hands on a product that won’t be widely available. You can do this with a limited edition product or special versions of bestsellers, for example, celebrity collaborations. This is a marvelous idea for clothing brands, beauty businesses, and food retailers.  10. Supporting good causes More and more consumers strive to learn about brands and understand what they stand for and how they contribute to the community or broader society. A pop-up that supports good causes can help you enhance your brand image, attract customers, and distinguish your business from competitors. Consider ideas such as donating a portion of your profits to a charity that is close to your heart or offering to make a donation for every purchase of a specific product, for example. Studies show that over 70% of consumers prefer to shop with brands that align with their values.  If you support a charitable organization or contribute to initiatives, such as planting trees or wildlife conservation, make sure your message is clear. Provide customers with information about the causes, what they do, and how you are helping.  11. Clothing pop-up shops Fashion pop-up shops are among the most popular pop-up shop ideas. If you sell clothing online, or you have a store and want to drive traffic and increase sales, a temporary stall, shop or mobile pop-up can help you achieve your objectives. You can sell a selection of your products, curate a capsule collection for your pop-up, or set up a temporary store purely for a collaboration or a limited edition range of items.  12. Virtual pop-ups We usually think about physical spaces when considering the benefits of a pop-up shop, but not all pop-ups are located in malls or markets. Virtual pop-ups offer an alternative and they are great for brands that are launching new or limited edition products, as well as those that are joining forces with other businesses. If you have a beauty brand, you could host a virtual pop-up on a site that sells a wide range of brands to get customers interested in your products.  Tips To Succeed in the Small Business Pop-Up Market Retail, food, and candle pop-up shop ideas can send sales soaring and help businesses attract large numbers of new customers, but success is not always guaranteed. Here are some tips to help you succeed: Prioritize aesthetics Aesthetics are key when designing a pop-up. The pop-up shop decor should be relevant to the brand and the target customer, and it should lure people in, whetting their appetite for more. From the signage and the shop window to the rails and racks, it’s crucial to make an effort so that the store looks breathtaking. Showcase your products in the best possible light, make sure the space is clean, tidy, and inviting, take your customers on a journey through the shop and make your store or stall stand out.  Make the experience interactive One of the most attractive selling points of a pop-up shop is the opportunity to let customers see, touch, smell, and try your products. Make sure the experience is interactive by letting customers sample the products, providing demonstrations, and encouraging engagement.  Advertise your pop-up shop The aim of a pop-up shop is to get people through the door, show off your products, and tell them all about your brand. To do this, you need to make sure people know where to look for you. Advertise your pop-up shop on social media, print flyers, and use signs to direct customers to your store. Sidewalk signs are great for busy streets and city centers.  Underline the importance of timing Consumers tend to make decisions faster, and they are more likely to buy if they feel like there is a limited timeframe. If you are selling limited edition products, or only in town for a few days or weeks, underscore the importance of acting fast to secure these coveted products.  Choose the best location Location is one of the most important driving factors for pop-up shop success. As a business owner, you want to find a spot that will attract the right people and draw in customers. Try to research areas with high footfall and think about where your target customer hangs out and shops.  Go the extra mile to make the experience memorable A pop-up shop shouldn’t just provide visitors with the chance to buy a product. It should offer an experience for the customer. Simple touches like encouraging buyers to take selfies, adding feature walls and eye-catching decor, inviting special guests, providing snacks and drinks, and offering the chance to enter competitions can set your store apart and enhance your brand image.  Give out promotional merchandise Every shopper loves a freebie. You can drum up interest, attract larger crowds, and reap the rewards of free marketing by giving away branded merchandise, such as key rings, drink bottles, and eco-friendly tote bags.