Small Business Startup Kit

There are many things required in a business, here is a brief small business startup kit that is going to assist you.

Certainly it is best to review this list and begin to gather whatever is necessary to build your toolbox.

This will be similar to a check off list, perhaps you should attempt to investigate each area carefully as together they can influence parts of your small business dramatically.Small Business Startup Kit

Let’s discuss a few of the required items.

Bank.

Which bank will you use.?

Does that bank offer the kind of lending you require?

Do you relate well with the loans officer?

Have you shown them your business plan and received their approval for it.?

What about fees, are they competitive with other banks in the area?


Legal Entity.

Is this going to be a partnership? Or will it be a sole proprietorship.?

Do you have to incorporate so as to limit your liability?

Have you registered your business in accordance with municipal and state regulations?

Have you obtained your state tax licences.?

Employees

How many employees do you plan to have?

What requirements have you set for a suitable employee?

What is the proposed pay scale?

How will you locate employees?

Will you be offering insurance to employees?

Record Keeping

Who will be doing the accounting?

Will you require accounting software?

Have you researched available software and done cost comparisons.?

How will you be dealing with required tax remittances?

Which accounting firm will be preparing your business and personal tax returns?

Now we have constructed your list, hopefully you have a completed small business plan and a marketing plan prepared as well.

There are bound to be areas which have not been covered in this list, this is meant to be a preliminary to jog your thinking as to what may be required in the way of small business ideas.

Resources

Leave A Reply

Your email address will not be published.