|Small Business Information|
How To Start a Small Business
Not sure how to start a small business? This guide will offer you some useful tips on the basic requirements of starting a small business.
Initially, there are two types of businesses available to you, Sole Trader or Partnership. Both are explained below:
This is the easiest and least costly way of starting a business. A sole trader can be formed by finding a location and opening the door for business. There are likely to be small fees to obtain business name registration. Lawyer's and accountant fees for starting the business will be less than the other business forms because less preparation of documents is required and the owner has absolute authority over all business decisions.
There are several types of partnerships. The two most common types are general and limited partnerships. A general partnership can be formed simply by an oral agreement between two or more persons, but a legal partnership agreement drawn up by a lawyer is highly recommended. Legal fees for drawing up a partnership agreement are higher than those for a sole trader. A partnership agreement could be helpful in solving any disputes. However, partners are responsible for each other's business actions, as well as their own.
Starting and managing a business takes motivation, desire and talent. It also takes research and planning. To increase your chance for success, take the time up front to explore and evaluate your business and personal goals. Then use this information to build a comprehensive and well thought out business plan that will help you reach these goals.
The process of developing a business plan will help you think through some important issues that you may not have considered yet. Your plan will become a valuable tool as you set out to raise money for your business. It should also provide milestones to gauge your success.
Before starting out, list your reasons for wanting to go into business. Some of the most common reasons for starting a business are:
You want to be your own boss.
Next you need to determine what business is "right for you." Ask yourself these questions:
What do I like to do with my time?
Then you should identify the niche your business will fill. Conduct the necessary research to answer these questions:
Is my idea practical and will it fill a need?
The final step before developing your plan is the pre-business checklist. You should answer these questions:
What business am I interested in starting?
Having worked your way through the above questions should have given you an indication of whether or not you still want to go into business. If you have decided against, then at least you have learnt something. If you are going ahead with your venture then congratulations and have a successful business.
You may freely reprint this article provided the author's biography remains intact:
John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the http://www.directonlineloans.co.uk website.
Debt Collection Techniques
Here are some sound debt collection techniques that can be followed by businesses to mitigate the bad debt crisis:
But This Is Just My Opinion
Hi, Charles...here, Your Cap and t-shirt guy From Texas. How are you doing today.
You Dont Yet Know What You Dont Know
Someone new to business ownership recently told me, "Before I opened my business, I thought I was pretty well prepared. I knew how to produce and deliver our product. I worked through the numbers with my accountant and banker. I talked to many others in the same business. I was optimistic that my first year would go well."
Wichita KS; Anything is Possible in Wichita Business
Just when the entire state was kissing Wichita goodbye, economically speaking, they turn around their economy like a hammer-head stall. The BTK is caught and has gone away and the Aircraft Industry has decided to stay. Last year 40% of all the aircraft in the world were made in Wichita and instead of losing market share they are gaining ground on the other aerospace manufacturing cities in the United States and around the world.
Eight Key Steps to Selling Your Business and Cashing In
This year, some 700,000 American businesses will be sold. Most will be small and mid-sized businesses like yours. If you, too, are thinking of selling, consider these practical steps for making the process go smoothly.
How to Promote Yourself to Small Business Riches
You've heard it before; we're living in an information age. The business world is no longer driven by tangible products but on information and ideas. Internet based companies or other companies that use the Internet as an integral marketing tool that don't tap into information-based products or services could soon find themselves without customers or with lackluster sales.
Hosted PBX, Is It Right For You?
"Order Now!" "Your Business Will Fail If You Don't Have This New Technology!" "Your Competition Has This Tool, Why Don't You?" Does any of this sound familiar? Does it make you cringe? It seems to be impossible to keep up with all the new trends in business today. It's hard to know which trends are just flash in the pan gimmicks and which are valuable tools that your business can actually benefit from. It's important to do your research. Find out what these tools can do for you and make sure it is right for your business. One of these recent trends is the hosted PBX service. These "virtual" phone systems can automatically answer, screen and route all incoming calls to your office, home and/or cell phone. Although they have been on the market for some time now, hosted PBXs have recently been getting the attention of more and more small and medium sized businesses. Is this technology right for your business?
A Business Plan Is Not Worth A Cracker To A Struggling Business - A Plans The Last Thing It Needs
Before you start a business we encourage you to prepare a business plan. Without it your business has a 92% chance of failing within the first 12 months. Sometimes your business plan tells you that you should not go into business at all!
The PR Commitment to Small Business
We're birds of a feather, public relations and small business. Wonderfully compatible and a perfect fit. Usually makes it easy to commit resources to small business success.
Franchise Rule to be Revised; Why?
The FTC, Federal Trade Commission, is considering modifying the franchise rule. So far it has be a ten-year process; just imagine working that slow in your business? In 1995, 1997 and 1999 when the comments were first considered and taken in, which spans a ten-year period. When you combine those comments with this current rule making period they may have broken the record for the longest rule making session since voting on the slavery issue; one heck of a long rule making period by any means.
Family Business and Conflicts
What is a Family Business? A family business is basically any business in which the majority of the ownership or control lies within a family. Involvement of members of family in a business can bring with it its own complexities because the line between the business system is sometimes separated by a thin line from the family system. Sometimes these 2 positions overlap causing all sorts of conflicts.
Postcards Make It Rain Referrals
One of the simplest ways to expand your marketing efforts is through the consistent use of postcards. Create a list of narrowly targeted prospects and then hammer away at them with powerful marketing messages.
Forming a Corporation ? Investors
You've come up with the best idea since sliced bread, figured out a business name and formed a corporation. There is, however, one small problem. You need money. Welcome to the world of investing.
11 Things Small Business Owners Can Learn From Punxsutawney Phil
1. Look Over Your Shoulder ? Of course, Punxsutawney Phil has to look over his to search for his shadow. You should, too, every so often, to check out your competition?and see whether they're gaining on (or leading) you.
Do You Want Your Own Fully Programmable ERP? - Part 3
Continuing from the second article:
An observation while returning home from a seminar: Getting away from the everyday allows room for analysis and new thoughts. Stimulation while away from the everyday energizes analytical and concept ional thinking.
Business Development Is Not An Event
Cash flow. To stay in business, you've got to keep a steady stream moving through your company.
Increase Sales in Your Home Business With These 10 Simple Ideas
Every home business has the same problem of how to increase sales without a hugely expensive marketing campaign. By utilising the following simple ideas you will be able to do just that.
The ABCs of Fundraising
There are many little details that go into making sure your fundraising event is a successful event. The key is to have all your fundraising details laid out in front of you before you even start. Below are some tips to help you get started on the right foot for your fundraiser:
Franchises: How to Find the Best Franchise Opportunity for You
If you are looking for a franchise opportunity, the choice is mind boggling. There are literally hundreds if not thousands of different types of franchise available for you to invest in, with the same variety in cost. Each have their own benefits and usually the more you pay the more potential to earn. You obviously want to select a profitable business venture so it is important that you thoroughly research.
|home | site map|