Tuesday, 24 September 2013

CHECKLIST FOR STARTING A NEW BUSINESS.
                                       Background work. 
(1)  Analyze your business idea by a SWOT analysis
 (2)  Assess your strength and weaknesses as an entrepreneur
(3)  Establish business and personal goals
(4)  Assess your financial resources and identify potential sources of funds
 (5)  Identify the financial risks
 (6)  Determine the start-up costs
 (7)  Decide on your business location
 (8)  Do a thorough market research
 (9)  Identify your customers
(10) Identify you competitors
 (11) Develop a market plan 
                                         BUSINESS TRANSACTIONS. 
(1)  Select a lawyer and an accountant
(2)  Choose a form of organization(proprietorship, partnership, or corporation, for example)
 (3)  Create your business(register your company’s name, incorporate the business, etc.)
(4)  Prepare a business plan
 (5)  Select a banker and set up a business checking account
 (6)  Apply for business loans and grants(if applicable)
 (7)  Establish a line of credit(if possible)
(8)  Select an insurance agent and obtain business insurance
                                                        First steps. 
-Prepare corporate brochures - Build a website -Set-up corporate email account -Get business cards -Obtain a lease -Line up suppliers (if applicable) -Get furniture and equipment -Obtain business licenses or permits (if applicable) -Get a federal employer identification number (if applicable) -Get an employer ID number (if applicable) -Send incorporation papers for federal and state/province tax forms -Join a professional organization -Choose a starting date -Prepare and deploy your communication/marketing strategy

by;Gideon.NL.Lamptey.