If you want to start and start your own business, it is essential that you develop a business plan. This business will give the general framework of the situation of your future company in the market and with its customers.
Develop a business plan for your company. The preparation of this document means that you have analyzed the competition, customers, marketing strategies, goals, objectives and strategies and have developed a financial forecast for at least the first year of functioning. Of course, it is worth considering that start-up financing is necessary and for other uses such as day-to-day contingencies.
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Establish a legal entity for the business. Depending on your circumstances, you may want to maintain the business as a sole proprietorship, limited liability company (LTDA), or limited liability company (SA). Check with your accountant and attorney for the format that works best for your circumstances.
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Register the company and obtain licenses. Different countries differ with respect to what is required and the taxes charged. The type of business also affects the licensing or permitting requirements. For example, if you decide to open a catering business, you need an inspection permit for the license of your kitchen, food handling, and possible special permits for the collection of garbage. Contact your state business development office to find out what is needed. Call the business development office in the city where the company is located to determine your needs.
Establish an accounting and checking account system. A small small business only needs to use an Excel spreadsheet to track sales and expenses, while a more complex business may need a more sophisticated accounting system. If you are unfamiliar with accounting, you should consider adding the services of an accountant, at least quarterly, to help you. Business expenses separate from personal expenses and household items. Pay business expenses from your business checking account. Keep sales income, including cash sales, separate from your personal financial accounts.
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Lease of space for business if appropriate and necessary. If it is a home business, designate an area in your home as an office. With laptops and Wi-Fi, it is tempting for any worker to spend time on social media for example and be ineffective. Gather all your business supplies, materials, records, and correspondence in one place.
Of course it is necessary to have a website, in which their products, location, price list among other things are made known.
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