STEP ONE: Starting Up
Starting a business is described by many as the hardest thing they have ever done. There simply aren't enough hours in the day to complete everything. It can also be the most rewarding.
Starting a business is a daunting task. In addition to identifying your product or service, you must decide upon the legal form for your business, get the required licenses and permits, set up your accounting system, get a bank account, deal with employee and business taxes, find an office or place of business, arrange for appropriate insurance, calculate the cost of your product or service, arrange for adequate financing and learn how to market and advertise.
When you are first starting a business, there are a number of tasks that you must perform.
Listed below are some tasks that should be completed in the start-up phase.
- Evaluate your personal reasons for going into business
- Decide what type of business you want to start
- Set up the legal structure of the business
- Obtain necessary licenses
- Conduct market research
- Research and obtain financing
- Research and obtain necessary business insurance
- Create a business plan
- Plan the strategy for growing the business
- Find an accountant and lawyer
- Open a bank account for the business
|Listed below are some links to help you if you are in this stage of development.|
|Startup Guidelines||Business Formations (Legal Entities)||Employer ID Number (EIN)||Business License||Certifications|
|Financing||Vendor Registration||Training||Other Resources|