Are you thinking about owning your own business?
Starting your own business can be an exciting and thrilling time in your life. It’s everything that comes after the excitement has worn off that dictates whether a small business will survive. It is up to you to maintain and expand the “excitement and thrill” beyond the preliminary period.
A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful business. Success lies in the approach you choose to take. There are common pitfalls that some small business owners make when starting a new venture, but we are here to help you avoid many of them.
We will help you:
· Select a business structure that best suits your needs by evaluating tax advantages, legal exposure and ease of operation.
· Prepare and file Articles of Incorporation or Organization with the appropriate state authority.
· Prepare and file the application for your Federal Employer Identification Number (FEIN).
· Comply with requirements for state and local licenses/permits.
· Select the right accounting software by evaluating your budget and needs.
· Prepare a budget so that you know how much money you need to keep the business running monthly and annually.
· Establish billing and collection procedures to maximize your cash flow.
· Establish procedures to monitor and control costs.
· Provide payroll processing and tax filing once you hire your first employee.
· Identify your business insurance needs.
· Develop a solid Partnership or Operational Agreement. This is extremely important for all new partnerships or LLCs with two or more members. It will help prevent a tremendous amount of financial and emotional issues down the road.
Let us help you succeed by getting your new business off to a strong start. Please contact us today!