Opening your own business is both exciting and intimidating. Before you are done you will certainly have a great deal of your time and money invested. You will want to take every precaution possible to make your venture a success. Call us; you will want to surround yourself with professionals from the start, so that you do everything possible to reach your goals.
Just a few of the things you will need to consider…
- Determine your entity type. There are many to choose from, all with different characteristics and tax consequences.
- Prepare an initial written business plan outlining the company's short term and long term goals.
- Determine your start-up cash needs and ability to borrow funds.
- Analyze your accounting needs, software requirements, legal requirements, and insurance needs.
- Determine your need for employees and payroll support services.
- Procure your federal and state identification numbers.
- Set up a beginning general ledger to track initial loans and capital contributions made to the company.