Summer is a great time to start a business! The pace is slower, the weather is great, and potential customers are plentiful. Start with a business name and location and get going!
1. Starting with Family and Friends
Before you go into business with family or friends, you will want to make sure you work to preserve the personal relationship as well as the business one. Setting out expectations in writing, creating contracts, assigning specific duties, determining ownership, and more, will help you keep the personal part of your business running smoothly.2. 5 First Steps to Business Startup
The most-asked question about starting into business is "What do I do first?" There are several specific steps you must take, in order, to get things going with your business startup:
1. Select a business name, register and possibly trademark that natme. (And get your domain name too.)
2. Find a business location.
3. Determine your legal form and get it set up.
4. Apply for federal tax id, state, and local permits and licenses.
5. Get a business checking account set up.
And more....
3. Finding a Location for Your Business
Before you can put your address on marketing brochures and business cards, and before you can apply for licenses and permits, you need a location. The process of finding a location involves narrowing your search and doing research on the population and the area. Then, you must negotiate a commercial lease or build a facility for your business.
4. Finding Business Advisors to Help with Startup
You will need an attorney and a CPA to help you with business startup. The attorney will help with reviewing documents and setting up your business structure. The CPA is needed to help with financial statements for your business plan and setting up your bookkeeping and accounting. But how do you find advisors and select ones who you feel comfortable working with? Read this article.
5. Find Financing for Your Business Startup
Check your personal credit and make sure your personal papers are in order. Then get busy on your business plan and make the rounds to banks. if you can't find a bank loan, check out alternative lending sources.
