Blogs are everywhere. Some of them are great and some of them are worthless. With more than a billion different websites and blogs on the internet today, you can see how it’s easy to get lost in the mix, while also understanding how quick and simple it can be to start a blog of your own.
However, there are a select few that will actually provide value to individuals on the internet and not only will they start generating a decent amount of traffic and search rankings, they could also start making a decent amount of money as well.
This is often through the use of affiliate marketing, Google Adsense, paid placements and sponsorships, or even writing content and eventually coming out with products and services of their own.
It doesn’t matter where or how your blog is making money, it just matters that it is. And in order for a blog to make money, it will soon likely need to be registered as a business.
With all of this in mind, let’s take a look at some of the most important things you will need to remember when turning your blog into a profitable company — both in the United States and around the world.
What Type of Blog Company Do You Want to Start?
When it comes time to start your business, there are many different things you will have to consider — such as what type of company you want to create. This will depend on a number of factors, such as how much money your blog is making, if you are the sole owner, and also if you have a team of founders and how you might need to pay other employees or break up shares of the company.
The most common titles to register a blog as a company are LLC, Corp and INC. When you get even more detailed, you will find that you can also register your company as a S Corp or C Corp — which individually file taxes differently based on how the company funds are managed.
With all of these different titles and company types in place, it can be quite confusing for anyone just starting out. To help with the decision process, be sure to run through the infographic below, which provides the many advantages and disadvantages to going with a Private Limited Company, a Sole Proprietorship, or an LLP.
Before making a decision on your own, it’s best to contact your attorney or legal counselor for final confirmation and advise. You may also want to consider starting your blog as a company in a different state than the one you currently live in.
Delaware is a popular state for companies to register in, due to their tax and company restrictions and benefits that other states don’t offer.
Best Places to Start a Business Outside of the United States
If you have the ability to run a website or blog from the comfort of your own home, you may want to consider moving to a better location. This could be somewhere you always wanted to live or visit, someone that is cheaper to live, or even another country that is more business friendly.
According to a recent survey and article from USANews, Thailand, India, China, Singapore, Malaysia, Mexico and Canada all ranked among the top seven locations to start a business in the world today. With so much attention on these countries and business in the world today, it’s no wonder that bloggers are eagerly making the jump from the United States to other countries — while also not having to change much about their sites or business model in the process.
However, just like there are different business and company entities that you need to choose from, you will also need to understand the different regulations for each of the countries listed above as well.
For example, if you want to start a company in Singapore, you would have to register the new company and also have at least one shareholder and a maximum of fifty shareholders within the company living in the same country.
Another scenario is if you wanted to form a company in Germany. Since it’s already part of the EU, you are going to have some big compliance and regulation issues that you need to abide by. For one, you would need to make sure you register the company within Germany, and also have an office, a bank account, and a local accountant within the same country as well.
Switzerland is another name that has always been popular with finances, banking and business as well. Bloggers that want to make the leap from any other location in the world and run their company from Switzerland, will need to make sure they fill out all of the necessary form, have the right specimen signatures, passport copies and relevant documents. As Switzerland is one of the most sought after locations to live and start a business, it also has one of the most complex business registration processes as well.
No matter where you want to run your blog business, it’s important to research the regulations of each country before making any sudden changes. The last thing you want is to make a big move and then have your business come to a halt and no longer have any incoming funds, or have the business be closed of seized by another country government.
Blogging is a Business that can Take You Anywhere!
As mentioned earlier, if you already have a successful blog or online business, then you likely already know and understand the advantages of being able to work from your home computer or laptop.
However, life is short and the amount of money you make is important as well.
If the idea of turning your blog into a legitimate business is in the cards, then you should definitely take the leap and go for it.
At the same time, if you aren’t happy with where you are living in the world either, be sure to explore your options for that as well.