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Start Up Small Business Articles

We created these start up small business articles because it is essential for you to understand all the aspects that need to be looked into while you start a new business. This is critical in order to get the business up and running quickly and functioning smoothly thereafter. You've got dreams in your eyes and a thousand things on your mind. Business planning, customer..


Select a structure - You must evaluate the pros and cons of different types of start up business structures before deciding what’s best for you. Since you are planning to start up small business, the most likely choice is between a sole proprietorship and a partnership deal. While these are the easiest to get off the ground, there is a higher element of personal liability.
Incorporate your company - Your start up small business becomes an official entity through the process of incorporation. You may need to decide where you want to incorporate because different states have different laws that may be beneficial or unfavorable. Incidentally, Delaware, Nevada and Florida are three of the most popular states in the United States for their simple laws and low start up costs. These days, incorporation is a relatively simple process and can even be done online. Also, there are a number of specialists who can help you with this.
Open a bank account - Once the official entity is created, open a bank account exclusively for your business. This helps you to separate business and personal finances and facilitates the audit of business accounts.
Finalize accountant services - You will need to maintain detailed accounts throughout the course of your business. While a bookkeeper can help with routine accounting needs, it is advised to use the services of a qualified Certified Public Accountant (CPA) for financial advice and tax planning. Always ensure that you have a grip on the financial health of your business – a regular review of accounts statements is a sound practice. Software programs such as QuickBooks can help ease the process of maintaining accounts.
Get a legal and tax advisor - Business taxation laws are very complex. While starting a small business, you will need to understand the impact of various tax systems on your company. Hire a CPA to help you find the way through such laws. This is of utmost importance as you are obligated to fulfill tax responsibilities. In addition, you will certainly have some legal considerations like copyrights, contracts and agreements. While doing your small business start up, guide yourself through all legal matters with the help of a good legal firm.