Entrepreneurs are starting businesses in every industry – ranging from franchises to niche startups, and work-at-home ventures. With a leaner economic landscape, there is a lot of room for entrepreneurs to carve out a share of the market for themselves and embrace financial freedom doing what they love.

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No large retailer can be all things to all people. Therefore, there will always be segments of the population whose needs for a particular product or services are unmet. This space is where a small business can penetrate a market.

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Niche marketing is the fine-tuning of someones marketing to focus on a specific demographic of customers and/or products and services to offer. More simply put, it means a business is choosing to play to its strengths and highlight them for the people with whom it will benefit the most.

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One of the most significant benefits of being a small business owner of an LLC is that of pass-through taxes advantages. LLC owners don’t have to file a corporate tax return. An owner simply reports their share of profit and loss on their individual tax return.

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This prevents double taxation, your business paying taxes and you paying taxes. In an LLC, the business doesn’t pay any taxes, only the owner.