Small Business Specialists
Are you thinking of starting a new small business or developing an existing one? We can help in all aspects of your small business needs.
Starting a New Small Business
Learn the Business
Whether you are starting a full- or part-time business, you should learn the specifics about running a business. Take courses available in Finance, Marketing, How to Write a Business Plan and How to Start Your Own Home-Based Business.
Develop a Business Plan
Estimate what you will need to start your business: equipment, supplies, inventory, and office space. Include any franchise fees, costs for locating your new business and other requirements. Establish specific goals and estimate completion times for each. Calculate how long it will take to recover your start-up expenses, break even and begin to make a profit. Let us help you develop a business plan.
Commercial lenders and the U.S. Small Business Administration require you to have a business plan. They will also want to know what your experience level is in the type of business you want to start. You may need to consider a combination of personal savings, commercial loans, as well as government-backed loans and grants to fund your new business start-up.
Establish a group of key business advisors who you know and trust and are successful in their own businesses. These experienced business people can serve as your mentors. If possible, be sure to include a lawyer, a local banker, an insurance agent and a Tax Professional.
Choose a Legal Structure
Deciding how to legally structure your business is important and should be based upon your goals and personal considerations. Home based businesses, Sole Proprietorships, Partnerships, Limited Liability Corporations and Non-Profit Corporations all have specific benefits and regulations. Contact us to help you decide which structure will be best for your business.
Would it be beneficial to register as a dba (“doing business as”) Corporation? We can help you with a list of required city, state and federal permits, licenses and registrations you will need, especially for home-based businesses.
Obtain Tax Identification Number
Learn which identification numbers you will need to obtain from the Internal Revenue Service and your state Department of Revenue.
Determine Types of Insurance Needed
Find out what types of insurance you will need, including business overhead, liability, health insurance, workers’ compensation, disability insurance, automobile insurance, trade insurance and any required bonding.
Research Your Competitors
Know your competition. Research what products and services they are offering that are similar to yours and what’s different. Study their pricing structure. Find out about their customer service policies and any warranties they are providing. Determine how you can differentiate yourself and gain a competitive advantage in what you are selling. Contact us to help you with your target market research.
Establish a Social Media Presence
From Facebook to Twitter to LinkedIn, a social media presence is essential for most small businesses to remain competitive in your market. Let us help you navigate thesocial media web. Contact us for help in any of these business areas.