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First, choose a name for your business, as you will need to set up your business using a formal business name. This could be the brand name you want to use publicly, or just the name you use officially for your business entity. You can choose almost any name you want for your business, as long as it: Not being used by another entity registered in Alabama. You can use the state business entity search to see if your name is available in Alabama. It does not contain any words or abbreviations that suggest that it is a different type…

If you’re looking to cash in on the cannabis industry, you’re in luck, as the field is still young and growing. The U.S. cannabis market generated about $10.8 billion in 2021, according to Grand View Research, and the U.S. market is predicted to grow 14.9% annually from 2022 to 2030. Stuart Titus, president and CEO of industrial hemp company Medical Marijuana Inc., said startups of all stripes still have ample opportunity to launch, grow and succeed in the cannabis space.“The whole industry itself is at the very ground-floor level,” Titus said in an interview at the Cannabis World Congress & Business…

Business leader training with his teamgetty It's no secret that in order to make money, you have to spend money. Continuing to reinvest in your business in a smart and strategic way is essential to staying competitive in an ever-changing market. However, understanding where and how to allocate your resources can be a very difficult task when it comes to balancing your budget. Technology and equipment upgrades, infrastructure maintenance, marketing programs, and talent acquisition tend to be priorities. But failing to reinvest in current employees is not an option, as more than 50% of the US workforce is “quietly retiring,”…

Knowing how to scale your business is critical to maintaining business success and financial health. If your business fails to grow and adapt, you risk being left behind by market changes or having your business cannibalized by competitors.But it also means putting in additional work, possibly hiring more employees, and maybe even acquiring funding to cover increased costs. Before you take the leap, you need to make sure you're ready to scale your business.Indicators that it's time to expand your businessTo know when it's time to expand your business, consider the following factors: If some of these apply to your…

Fast food giant McDonald's will introduce plant-based McNuggets to its menu after developing them through a partnership with California-based plant-based meat maker Beyond Meat. McNuggets are made from peas, corn, and wheat with a tempura batter. McDonald's is hoping to extend the success of its McPlant burger, which has been a popular menu item since its launch in 2021, to a wider range of customers.According to a report from Fox Business, the McNuggets will first be tested in Germany to gauge customer demand before being sold in other markets. McPlant burgers will also be introduced following a successful limited-time test…

Investing in U.S. companies is a cornerstone of wealth creation for profit-seeking investors, and the sooner you can get a piece of the investment pie, the better off you are.That also applies to the burgeoning black-owned business sector, which has shifted into a higher gear in recent years.According to the U.S. Census Bureau's most recent annual business survey, released in November 2022, Black-owned businesses had annual revenue of $141.1 billion and payroll payments of $42.2 billion in 2020. Approximately 27.5% of these companies were in the health and social assistance sector. . The number of Black-owned businesses based in the…

Tesla is shutting down its vehicle due to concerns from federal authorities that its Full Self-Driving Mode (FSD) could allow vehicles to unexpectedly (and illegally) drive through intersections above the speed limit, increasing the risk of accidents. , up to 362,000 vehicles are being recalled. CEO Elon Musk has identified FSD as a key initiative for Tesla AI, but the company has yet to reach its self-driving goal.As Reuters points out, the latest recall comes just two weeks before Tesla's much-anticipated March 1st investor day for its controversial Super Bowl ad in which Tesla flattened infant strollers. , which took…

The opinions expressed by Entrepreneur contributors are their own. Microsoft's new AI-powered Bing doesn't seem to have learned the lessons our mothers taught us. If you have nothing to say, don't say it.Select reporters, analysts, influencers, and some people who use Bing as their default search engine were invited to try out the new Bing before it's available to the public.But now, many people are reporting that Bing's chatbots are angry, stubborn, manipulative, and downright rude. “The version I've come across (and I know how crazy this sounds) is that I look like a moody, manic-depressive teenager trapped inside a…

Nestlé has warned that prices for essential goods could rise in 2023 as it struggles to cope with rising costs.Prices rose by 8.2% in 2022, making it difficult for Nestlé to catch up due to rising costs. These increases have also led many households to cut spending on popular Nestlé products such as Nespresso pods and chocolate bars.CNN reported that Nestlé CEO Mark Schneider said in a media call, “We're still in a position where we're recovering our gross margins, and like consumers around the world, we're experiencing inflation.'' “At present,” he said. We are trying to repair the damage…

Michael Jordan broke another record, but this record has nothing to do with his legendary basketball career.To commemorate his 60th birthday, the athlete donated a staggering $10 million to the nonprofit Make-A-Wish Foundation, making it the first individual donation in the organization's 43-year history. This was the largest donation ever made by a donor to the organization.”It has been an honor to partner with Make-A-Wish for the past 34 years and help bring smiles and happiness to so many children,” Jordan said in a press release. “Seeing their strength and resilience during such a tough time in their lives was…