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How to start your small business


How to start your small business</a>

Own business, bringing satisfaction from the implementation of ideas and money profit, has every chance to become a matter of all life and continue to exist in subsequent generations.

To start your small business, you need to realize that you really want it.



Make an action plan. Clearly think through all the steps to fulfill your desire and reflect them on paper. A working diary with the obligatory fixation of all matters of any importance should become your first assistant.


Think over the idea of ​​business. The basic requirement to the idea? It must be successful. Think about the options for implementing your own creative abilities, applying experience and skills. Make a list of potential business ideas.


Engage in collecting information. Carefully study the market of goods or services, which you want to exit? Working conditions, level of competition, examples of successful start, etc.


Make a business plan. A competently drawn up business plan will allow you to realistically assess your capabilities, see the quantitative expression, calculate possible risks and setbacks. Include in it all the necessary items of expenditure, the scale of production, the segment of potential buyers, ideas for further business promotion, tools for its expansion. Determine the amount of seed capital.


Identify the main sources of seed capital. Calculate whether your savings are enough to start your own business or whether you need to attract outside capital.


Think of a name. Choose the legal form, complete the registration procedure. You can choose the option of organization of a legal entity or become an individual entrepreneur.


Organize the accounting system. The availability of an adequate accounting system will allow you to monitor the financial situation, pay taxes.


Get permission. Go through the procedure for obtaining licensing in local authorities.


Open a settlement account. A settlement account is necessary to start your small business.


Rent a room. Study the services offered and the amount of commission. Think about what types of communication, features of the premises will be required for trouble-free operation. Consider several options and choose a room for your needs.

How to start your small business Was last modified: June 21st, 2017 By Jyymoech
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