Starting a Business
Know the Simple Steps for Starting Your Business Right.
Owning your own business is right up there with apple pie and baseball as an American pastime. To help position your business for long-term viability and growth, you must take the time to develop a comprehensive plan and gain the advantage of having all pertinent information in place before you begin your venture.
We can help you avoid becoming another failed business statistic.
With our help, you will identify and avoid the common mistakes many new business owners make. We will help you build a business plan for success, as well as provide financial management services to meet your needs.
Steps to starting your business right…
- Prepare a business plan and determine your initial capital needs.
- Identify your current resources, as well as sources of start-up capital and your borrowing capacity.
- Review potential business structures in terms of tax advantages and portability in case you need to relocate.
- Plan for financial management of your business by selecting accounting software that fits your projected budget and gaining the hardware necessary to run it.
- Understand the key components of a Cash Flow Projection and develop one to cover each month of your business for the first year, at least.
- Learn about the best billing and collection procedures to maximize your cash flow.
- Understand employer payroll tax obligations, worker classification rules (W-2 vs. 1099), and state reporting requirements.
- Consider a home office for maximizing tax deductions.
- Prepare and file for all local and state licenses and permits.
- Gain a Federal Employer Identification Number and set up payroll services and payroll tax filing systems with your first employee.
- Identify any business insurance needs.
- Define financial, equity, and profit-sharing terms to provide to your attorney for drafting your Partnership or Operating Agreement.
Don’t let this list overwhelm your desire to start a business. Our services were created with small business owners like you in mind.
Call us today to start your business the right way!
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