Starting a business

Starting a new business is a major task and knowing the correct steps to take gives your business a much better chance of success. Many things need to be taken into consideration when starting a business such as:

  • Identifying the reasons for wanting to go into business
  • Selecting the business that is right for you
  • Choosing the legal structure for your business
  • Choosing the location of your business
  • Listing the resources (equipment, supplies, and people) needed to operate this business
  • Finding out what business insurance will be needed
  • Developing a business plan
  • Analyzing the financial resources you have and what you will need
  • Finding out your tax obligations
  • Selecting how to promote your business

 

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