New Business Formation

 

Thinking of owning your own business?

Opening your own business is exciting and thrilling. It's everything that comes after the excitement and thrill has worn off that dictates whether a small business will make it or not. It's up to you to maintain and stretch out the "thrill and excitement" period forever.

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. Whenever someone contemplates starting a business there are a number of issues to be addressed, choices to be made and elections to be filed. There are an endless variety of documents and forms which must be filed, and, in many cases, they are subject to strict deadlines.

Please contact us if you are considering starting a business; we can provide guidance about a number of issues which should streamline the process and give you peace of mind that everything is in order and nothing has been missed.

Below are some of these services we can provide that could help you:

  1. Prepare an initial business plan to clarify your marketing, management and financial plans.
  2. Determine your start-up capital needs.
  3. Identify sources of start-up capital and backup sources if needed.
  4. Evaluate and quantify your borrowing power so you know how much money you can acquire if needed.
  5. Select a business structure that best fits your needs by evaluating tax advantages, legal exposure, ease of operation and portability should you need to relocate.
  6. Select the right accounting software by evaluating your budget, needs and hardware.
  7. Prepare a cash flow budget so you know exactly how much money you need to keep the business alive each month for the first few years. Unplanned cash requirements are always emotionally painful.
  8. Establish billing and collection procedures to maximize your cash flow.
  9. Establish procedures to monitor and control costs.
  10. Prepare and file all required state and local licenses and permits.
  11. Prepare and file your application for your Federal Employer Identification Number.
  12. Provide payroll and payroll tax filing when you hire your first employee.
  13. Helping you arrange your business insurance needs including workman's compensation, disability, liability, errors & omissions, health, etc.
  14. Provide referrals to competent business attorneys if you need to incorporate or start a LLC. When there is more than one owner, it is imperative that you have a written operating agreement right from the start that documents your intentions about a variety of business and financial matters.

Let us help you succeed by getting your new business off to a strong start.

Please contact us if you have any questions or would like to begin the process of establishing your own business.