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  <Title>How to Structure Your Business Recap</Title>
  <Tagline>Jason discusses the different business structures available</Tagline>
  <Body>
    <![CDATA[
    <div class="html-content"><div>Determining how to structure your business is one of the most important legal decisions you'll have to make. Luckily for us we have Jason Pappas to help. </div><div><br></div><h4>Wan to learn more about this topic? We have some good news! </h4><h5>Jason will be teaching a course on Entrepreneurial Finance (ENTR 330) this fall which correlated closely to this workshop’s content. You can find more information about the class <a href="http://my.umbc.edu/groups/entrepreneurship/news/51124" rel="nofollow external" class="bo">here</a>.</h5><div><br></div><div><strong>You can also find the unedited audio of the workshop below.</strong></div><div><br></div><div>Below is a simple table that summarizes the differences between the five structures of business you can have. <em>Overall the best way for an entrepreneur to set up their business is S-corporation or a LLC.</em></div><div><br></div><div><img src="http://i60.tinypic.com/25kpy5y.jpg" style="max-width: 100%; height: auto;"></div><div><br></div><div><strong>Sole proprietor</strong> is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts. This means that if someone is to sue your company you are not protected. You also need to pay all taxes on profits that you earn. </div><div><br></div><div>A <strong>partnership </strong>is a legal form of business operation between two or more individuals who share management and profits. The federal government recognizes several types of partnerships. The two most common are general and limited partnerships. There is also no liability protection in case the company is sued. However, there is <u>pass through</u> on taxes. In short pass through means that you will not be double taxed for any profits. The rate on a securitized asset is "passed-through" to investors once management fees and guarantee fees have been paid to the securitizing corporation.</div><div><br></div><div>A <strong>C-corporation</strong> refers to any corporation that is taxed separately from its owners. A C-corporation is distinguished from an <strong>S-corporation</strong>, which generally is not taxed separately. Entrepreneurs would not want to structure their business as a C- corporation because there is no pass through on taxes. A C- corporation is best used if you want to reinvest the money into the business and avoid being double taxed.</div><div><br></div><div>A limited liability companies (<strong>LLC</strong>) is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. This structure also allows you to choose how you want to be taxed and if you can discriminate distribution between owners.</div><div><br></div></div>
]]>
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  <Summary>Determining how to structure your business is one of the most important legal decisions you'll have to make. Luckily for us we have Jason Pappas to help.      Wan to learn more about this topic?...</Summary>
  <Website>https://drive.google.com/file/d/0B0yuoPLq1s_0dHlsdjlKY2NRR28/view?usp=sharing</Website>
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  <Tag>abce</Tag>
  <Tag>umbcentrs</Tag>
  <Group token="entrepreneurship">Alex. Brown Center for Entrepreneurship</Group>
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  <Sponsor>The Alex. Brown Center for Entrepreneurship</Sponsor>
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  <PostedAt>Mon, 20 Apr 2015 22:41:11 -0400</PostedAt>
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  <NewsItem contentIssues="true" id="51402" important="false" status="posted" url="https://dev.my.umbc.edu/groups/museumpractice/posts/51402">
  <Title>Entrepreneurs Panel Discussion Recap</Title>
  <Tagline>Four Entrepreneurs talk to UMBC students about what it takes</Tagline>
  <Body>
    <![CDATA[
    <div class="html-content"><div>The entrepreneurial panel discussion this semester was full of diversity, both in industry and backgrounds. </div><div><br></div><div><strong>If you missed this informative and exciting workshop be sure to listen to the unedited audio of the workshop available below.</strong></div><div><br></div><div>Maneet Sarai, an alum of UMBC, is the CEO/Founder of SeeFuture, which is a company designed to provide job seekers an inside track to employment. Joseph Hyman, also an alum of UMBC, is the CEO and Founder, MoJoe Brewing Company. MoJoe is a technology company that specializes in mobile brewing solutions. Dr. Kimberly Brow is the founder and CEO of Amethyst Technologies, LLC (currently located at bwTech@UMBC Accelerator and Incubator). Amethyst personnel are changing the world by developing quality programs for clinical trials, global health, biodefense, and drug development in the U.S. and Africa. Finally, Patrick Rife, also an UMBC alum, is the founder of Pixilated, an event photo booth company.</div><div><br></div><div><strong>Q: What prompted you to become an entrepreneur?</strong></div><div>Paul- I had graduated with a degree in art history. I found a job and worked for a couple years but didn’t feel like it was what I should be doing. It wasn’t my long term goal. I started thinking about an idea for an event photo booth and after sharing ideas with friends and gaining confidence I decided to take the leap.</div><div>Kim- I was in grad school and got a job in a very small company where I was the second employee. I realized that I wanted to stay out of corporate America. I was in the right place at the right time.</div><div>Joseph- I have always knew I wanted to be an entrepreneur. When I was younger I would always see opportunities to make connections with people and some money on the side. I learned how to decide if certain ideas were viable and worthy of perusing. I wanted to make sure I had the resources to fully execute it.</div><div>Maneet- I found out that I am not a “9-5” guy. I wanted to be my own boss and make my own schedule.</div><div><br></div><div><strong>Q: What are some surprises and lessons learned along the way?</strong></div><div>Paul- I was surprised to find out that I am a good entrepreneur. This role has allowed me to be myself and create amazing things. </div><div>Kim- I am surprised every day. I have learned to never be surprised and to always be prepared and flexible.</div><div>Joseph- Working with a physical product instead of a service/software is very difficult and I was surprised how hard it was to secure funding and support for a product before it was built. I learned that it is important to build a team of people that have many different skills but that can work together.</div><div>Maneet- I was surprised about how wrong I usually am. I always think I’m right, when in reality it’s the exact opposite. I have also learned how to pivot and stand out of the crowd.</div><div><br></div><div><strong>Q: What have you had to sacrifice to be an entrepreneur?</strong></div><div>Paul- Nothing. I would be sacrificing my potential as a person if I wasn’t doing what I’m doing now. </div><div>Kim- Everything. You need to do what needs to be done and that means giving up time and pay sometimes.</div><div>Joseph- Time and money. You need to be committed to making your idea happen. You also give up your sanity since you think about your business 24/7</div><div>Maneet- Time and money.</div><div><br></div><div><strong>Q: What are the basic traits that make entrepreneurs successful?</strong></div><div>Paul- Tenacity, veraciousness, bringing a unique point of view to the market, and being confident in who you</div><div>Kim- Confidence and a commitment to not failing</div><div>Joseph- Creativity, perseverance, and leadership</div><div>Maneet- Able to accept rejection, don’t be afraid to ask for help, learn many things in many fields.</div><div><br></div><div><strong>Q: What advice would you give to entrepreneurial students?</strong></div><div>Paul- Figure out what your minimal viable product is and go for it! Just do it and do it now!</div><div>Kim- Be financially prepared</div><div>Joseph- Try your best to get away from self-doubt. Every good idea started from somewhere so research your idea and commit to it.</div><div>Maneet- You don’t have as much risk since you are younger, so calculate the costs and if you can do it, go for it!</div><div><br></div><div><strong>Q: What is your management style?</strong></div><div>Paul- I try to bring people who want! I want them to work, have fun, and present. I hire for culture not for skill</div><div>Kim- I have evolved from a micromanager to more of a builder of teams. It has been nice to go from very protective of my company to see it expand.</div><div>Joseph- I try to manage like a “bootstrap culture.” We are all young and poor at my company but we’re all bright! </div><div>Maneet- I am a very similar manager to Paul. </div><div><br></div><div><strong>Q: Do you ever wake up wishing you were not an entrepreneur?</strong></div><div>All four speakers said no they would not choose anything else.</div><div><br></div></div>
]]>
  </Body>
  <Summary>The entrepreneurial panel discussion this semester was full of diversity, both in industry and backgrounds.      If you missed this informative and exciting workshop be sure to listen to the...</Summary>
  <Website>https://drive.google.com/file/d/0B0yuoPLq1s_0NlpjMjdRVjc0dVk/view?usp=sharing</Website>
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  <Sponsor>The Alex. Brown Center for Entrepreneurship</Sponsor>
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  <PostedAt>Mon, 20 Apr 2015 21:32:55 -0400</PostedAt>
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  <NewsItem contentIssues="true" id="51390" important="false" status="posted" url="https://dev.my.umbc.edu/groups/museumpractice/posts/51390">
  <Title>Tools for the Entrepreneur Recap</Title>
  <Tagline>Josh shares resources available to entrepreneurs</Tagline>
  <Body>
    <![CDATA[
    <div class="html-content"><div>Josh Massey, UMBC alum and entrepreneurship guru, spoke to the UMBC community about resources that can make an entrepreneurs life much easier. Some of these tools include <span>Quora, Asana, and Hootsuite which help you determine your niche market, stay organized, and promote your business. </span></div><div><br></div><div><strong>Please see the attached PDF file which induces a summary of the workshop. Also attached is the unedited audio file of the workshop. </strong></div><div><strong><br></strong></div></div>
]]>
  </Body>
  <Summary>Josh Massey, UMBC alum and entrepreneurship guru, spoke to the UMBC community about resources that can make an entrepreneurs life much easier. Some of these tools include Quora, Asana, and...</Summary>
  <Website>https://drive.google.com/file/d/0B0yuoPLq1s_0YWVOd21NSmVkSVE/view?usp=sharing</Website>
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  <Sponsor>The Alex. Brown Center for Entrepreneurship</Sponsor>
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  <PostedAt>Mon, 20 Apr 2015 16:05:33 -0400</PostedAt>
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  <NewsItem contentIssues="false" id="51388" important="false" status="posted" url="https://dev.my.umbc.edu/groups/museumpractice/posts/51388">
    <Title>Single Carrot Theatre seeks Master Carpenters</Title>
    <Body>
      <![CDATA[
          <div class="html-content"><p>Master Carpenter (Temporary)</p>
          <p>Single Carrot Theatre is seeking a part-time temporary Master Carpenter beginning ASAP and ending on June 28, 2015. </p></div>
      ]]>
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    <Summary>
      Master Carpenter (Temporary) 
       Single Carrot Theatre is seeking a part-time temporary Master Carpenter beginning ASAP and ending on June 28, 2015.
    </Summary>
    <Website>http://www.baltimoreculture.org/programs/jobsplus/5421</Website>
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    <Tag>museum</Tag>
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    <Tag>opportunities</Tag>
    <Tag>organizations</Tag>
    <Tag>positions</Tag>
    <Tag>production</Tag>
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    <Sponsor>Museum Practice</Sponsor>
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  <NewsItem contentIssues="true" id="51142" important="false" status="posted" url="https://dev.my.umbc.edu/groups/museumpractice/posts/51142">
  <Title>Cangialosi Business Innovation Competition is in ONE WEEK!</Title>
  <Tagline>Be sure to RSVP by Monday 4/20</Tagline>
  <Body>
    <![CDATA[
    <div class="html-content">This is a reminder that the Cangialosi Business Innovation Competition is only <strong>one week away! </strong><div><strong><br></strong></div><div>Watch seven student entrepreneurs compete on winning the grand prize.</div><div><strong><br></strong></div><div><h4>PLEASE RSVP to this event <a href="http://my.umbc.edu/groups/entrepreneurship/events/31341" rel="nofollow external" class="bo">here</a> by April 20th to ensure there are enough refreshments.</h4></div><div><br></div><div><div><strong>What is the Cangialosi Business Innovation Competition (CBIC)?</strong></div><div>CBIC is an opportunity for UMBC graduate and undergraduate students who aspire to fulfill entrepreneurial pursuits. Participants will experience the process of planning a startup business by submitting a competitive and realistic 3-5 page business plan and qualifiers will present their idea in a final competition. The CBIC is a<span> next level competition designed to give aspiring entrepreneurs a real opportunity to experience every aspect of planning to launch a startup. The competition pairs finalists with business mentors from the community and gives them practice presenting their ideas to a panel of experts. It also provides “real world” experience and helpful feedback. In addition to mentorship from real world experts, the program is also designed to connect students to the local entrepreneurial ecosystem.</span></div><div><br></div><div><strong>Prizes:</strong></div><div><div>First Prize= $5,000</div><div>Second Prize = $2,000</div><div>Third Prize = $1,000</div></div><div><br></div><div>In addition to the seed funding winners also receive support from our sponsors including:</div><div><ul><li><span>Free legal services</span></li><li><span>Accounting advice</span></li><li><span>Membership at the award winning Betamore campus in Federal Hill</span></li><li><span>Fundraising advice &amp; pitch practice w/ members of the Baltimore Angels</span></li></ul></div></div></div>
]]>
  </Body>
  <Summary>This is a reminder that the Cangialosi Business Innovation Competition is only one week away!     Watch seven student entrepreneurs compete on winning the grand prize.      PLEASE RSVP to this...</Summary>
  <Website>http://my.umbc.edu/groups/entrepreneurship/events/31341</Website>
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  <PostedAt>Wed, 15 Apr 2015 19:08:12 -0400</PostedAt>
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  <NewsItem contentIssues="false" id="51252" important="false" status="posted" url="https://dev.my.umbc.edu/groups/museumpractice/posts/51252">
    <Title>Maryland Humanities Council seeks Communications Officer</Title>
    <Body>
      <![CDATA[
          <div class="html-content"><p>Job Description</p></div>
      ]]>
    </Body>
    <Summary>Job Description</Summary>
    <Website>http://www.baltimoreculture.org/programs/jobsplus/5359</Website>
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    <Sponsor>Museum Practice</Sponsor>
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    <PostedAt>Wed, 15 Apr 2015 16:50:37 -0400</PostedAt>
    <EditAt>Wed, 15 Apr 2015 16:50:37 -0400</EditAt>
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  <NewsItem contentIssues="false" id="51248" important="false" status="posted" url="https://dev.my.umbc.edu/groups/museumpractice/posts/51248">
    <Title>BOPA seeks Chief Finance Officer</Title>
    <Body>
      <![CDATA[
          <div class="html-content"><p><strong>Position Profile</strong></p>
          <p><strong>Chief Financial Officer</strong></p>
          <p><strong>The Baltimore Office of Promotion &amp; The Arts</strong></p>
          <p>Baltimore, MD</p>
          <p>The Baltimore Office of Promotion &amp; The Arts (BOPA) seeks a highly experienced, effective and strategic leader as its next Chief Financial Officer. BOPA produces high-quality programs, special events and festivals that stimulate communities economically, artistically and culturally. BOPA makes Baltimore a more vibrant and creative city.</p>
          <p><strong>The Organization</strong></p></div>
      ]]>
    </Body>
    <Summary>Position Profile   Chief Financial Officer   The Baltimore Office of Promotion &amp; The Arts   Baltimore, MD   The Baltimore Office of Promotion &amp; The Arts (BOPA) seeks a highly experienced,...</Summary>
    <Website>http://www.baltimoreculture.org/programs/jobsplus/5357</Website>
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    <PostedAt>Wed, 15 Apr 2015 16:03:06 -0400</PostedAt>
    <EditAt>Wed, 15 Apr 2015 16:03:06 -0400</EditAt>
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  <NewsItem contentIssues="false" id="51246" important="false" status="posted" url="https://dev.my.umbc.edu/groups/museumpractice/posts/51246">
  <Title>The Creative Alliance seeks a Director of Finance and Administration</Title>
  <Body>
    <![CDATA[
    <div class="html-content"><p>The Creative Alliance is Baltimore’s premier multi-arts venue with  a mission to present and promote artists, performers and filmmakers; engage diverse audiences; and improve the quality of life in Baltimore City through community based arts and education programs.</p>
    <p>The Creative Alliance seeks a Director of Finance and Administration to join our team. </p>
    <p>Responsibilities:</p></div>
]]>
  </Body>
  <Summary>The Creative Alliance is Baltimore’s premier multi-arts venue with  a mission to present and promote artists, performers and filmmakers; engage diverse audiences; and improve the quality of life...</Summary>
  <Website>http://www.baltimoreculture.org/programs/jobsplus/5354</Website>
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  <PostedAt>Wed, 15 Apr 2015 14:25:30 -0400</PostedAt>
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  <NewsItem contentIssues="true" id="51230" important="false" status="posted" url="https://dev.my.umbc.edu/groups/museumpractice/posts/51230">
  <Title>SIAM Student Chapter: How to Start a Business Workshop</Title>
  <Tagline>Wednesday April 29, 12-1pm</Tagline>
  <Body>
    <![CDATA[
    <div class="html-content"><div><span>Come and join the UMBC SIAM Student Chapter as they host a workshop on starting a business!</span></div><div><span><br></span></div><div><span>The event will take place on </span><span><strong>Wednesday, April 29 from 12-1pm in Commons 331</strong>. They are very pleased to have Tom McCabe, </span><span>a mathematician, </span><span>entrepreneur</span><span>, author, and </span><span>the founder of </span><span>McCabe Software as a speaker</span><span>.</span></div><br><span>The SIAM Student Chapter will provide a free lunch during the event!  Please RSVP <a href="http://my.umbc.edu/groups/siam/events/32003" rel="nofollow external" class="bo">here </a>by Friday, April 24 so we can place an order for the food; lunch is not guaranteed for those who do not RSVP.</span></div>
]]>
  </Body>
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  <Sponsor>The Alex. Brown Center for Entrepreneurship</Sponsor>
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  <NewsItem contentIssues="true" id="50848" important="false" status="posted" url="https://dev.my.umbc.edu/groups/museumpractice/posts/50848">
  <Title>Special Collections Staff Picks!</Title>
  <Tagline>Overwhelmed or intimidated by S.C.?  Here's a starting point</Tagline>
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    <![CDATA[
    <div class="html-content"><div><em>This series was conceived by Special Collections student assistant Audrey Gatewood.  She also wrote this first post.  Check out Audrey's picks!</em></div><div><br></div><div>There are so many great resources in our collections, we understand it can be overwhelming. We, the staff, want to give you, the intrigued student, a place to start. Here you will find recommendations for some of the materials that are housed in <a href="http://aok.lib.umbc.edu/specoll/" rel="nofollow external" class="bo">Special Collections</a>, such as photo books, comics, alternative press, art books and more.</div><div><br></div><div>Our collections are more accessible then you may think. Located in the back of the <a href="http://aok.lib.umbc.edu/gallery/current.php" rel="nofollow external" class="bo">Library Gallery</a>, we are ready to help you find whatever you’re looking for. By sharing some of our favorite materials we hope that this blog can be the beginning of your exploration into the excellent resources we have here.</div><div><br></div><div>See you in the <a href="http://aok.lib.umbc.edu/specoll/" rel="nofollow external" class="bo">reading room</a>!</div><div><br></div><div>Two of Audrey's picks from the Bafford Photography Book collection:</div><div><br></div><h4>THE CENTURY OF THE BODY: 100 PHOTOWORKS OF 1900-2000</h4><div><a href="http://catalog.umd.edu/F/TPB4KRDIJGY7HQMNG91KVMYC3QH68NJQQS5EHH6L69V1DSSERT-01855?func=find-c&amp;ccl_term=%28%28WRD%3D%28The+Century+of+the+Body+%5BPhotoworks+1900-2000%5D%29%29%29+and+%28WSL%3DBC-BC+or+WSL%3DBC-RC%29" rel="nofollow external" class="bo">The Century of the Body: 100 Photoworks 1900-2000</a> is a thorough yet concise look at the history of representations of the human body in photography.</div><div><br>
    <table width="100%">
    <tbody><tr><td><img src="http://library.umbc.edu/speccoll/img/centuryofbody_weston_4.jpg" height="225" width="144" style="max-width: 100%; height: auto;"></td><td>                     </td><td><img src="http://library.umbc.edu/speccoll/img/centuryofbody_mccullin_2.jpg" style="max-width: 100%; height: auto;"></td></tr></tbody></table><br></div><div><em>(Images: Left: Edward Weston, Page 110; Right: Don McCullin, Page 142)</em></div><br><div>Spanning one hundred years, this book is a wealth of information that's formatted in a user friendly way. Each photo has a respective paragraph describing its background, both related to the photo specifically and in a broader sense. Many subjects are tied into this book, including science, fine art, technology, media and sociology. This book is especially useful for anyone who wants to learn about the history of photography in relation to other things, but with a core focus on the representation of the body.</div><div><br></div><h4>BOYSTOWN: LA ZONA DE TOLERANCIA</h4><div><div>Warning: Graphic Content</div><div><br></div><div>In the 1970's along the border between Texas and Mexico was Boystown, a collection of brothels and clubs. It was a public secret shielded by the dark of night. Men of every sort -- gang members, tourists, doctors, cowboys -- would come to engage with the sex workers. Working in the shadows of Boystown were several anonymous photographers, about seven, who sought out quick money by providing souvenir photos. They would approach the drunken men, photograph them with the woman they were pursuing, and pocket two dollars in exchange for a print. Though their intent was shallow, these photographers incidentally created a truly intense body of work.</div><div><br></div><div>The photos presented in this <a href="http://catalog.umd.edu/F/BTN658RE329LMX7MEJQDBXX67EM42QIRLFKF9IE1DICPIC9ML4-08768?func=find-c&amp;ccl_term=%28%28WRD%3D%28boystown%29%29%29+and+%28WSL%3DBC-BC+or+WSL%3DBC-RC%29" rel="nofollow external" class="bo">book </a>are merciless, captured without pretense. In an unforgiving act of voyeurism, the facade of Boystown, built up by darkness, alcohol and flashy makeup, is accidentally destroyed within these mementos, which were most likely torn up and tossed the next day by the men who bought them.</div></div><div><br></div><div>
    <table width="100%"><tbody><tr><td><img src="http://library.umbc.edu/speccoll/img/boystown_new1.jpg" height="300" width="200" style="max-width: 100%; height: auto;"></td><td>           </td><td><img src="http://library.umbc.edu/speccoll/img/boystown_p81_2.jpg" height="300" width="200" style="max-width: 100%; height: auto;"></td></tr></tbody></table></div><div><br></div><div><em>Thanks for your picks, Audrey! </em></div><div><em><br></em></div><div><em>Stay tuned for more staff packs from <a href="http://aok.lib.umbc.edu/specoll/" rel="nofollow external" class="bo">Special Collections</a>!</em></div></div>
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  <Summary>This series was conceived by Special Collections student assistant Audrey Gatewood.  She also wrote this first post.  Check out Audrey's picks!     There are so many great resources in our...</Summary>
  <Website>http://aok.lib.umbc.edu/specoll/</Website>
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  <PostedAt>Tue, 14 Apr 2015 15:15:03 -0400</PostedAt>
  <EditAt>Wed, 16 Dec 2015 13:38:08 -0500</EditAt>
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