New Owners Start Businesses with Updated Online Resource
Business owners and entrepreneurs can now discover new business ideas simply by visiting How to Start a Business.
According to CNN, the number of startup businesses continues its 15-year high as more people are laid off and looking for alternative resources of income. The recent recession has produced a number of independent business owners in construction and the business services industries. Many of these owners, according to the report, are sole proprietors, self-employed with no other employees. This means there is a higher number of self-employed persons in the economy setting their own schedules and recruiting their own clientele.
Whether these new business owners have a specific plan in mind is uncertain. While many of them may have previous marketing experience to launch their business, others may be struggling to build up orders and drive sales. How to Start a Business is a beneficial resource for both groups because it offers real business startup advice and ways to build a business plan. Because there are so many facets to running a successful business, it is important to keep everything in perspective: accounting, advertising, fulfilling orders, reaching customer expectations as well as keeping up with daily business expenses.
When any one of these facets begins to lose attention, the business engine no longer runs smoothly. While that may not mean much for the owner at the time, sooner or later it will affect the business ledger, says How to Start a Business Executive Director Steve Hartman. He says there are a lot of things to consider when opening up a business for the first time. Even for those new owners who have been selling their product or offering their service, there are three items to consider when incorporating one's business:
* Establishing a Business Plan
* Licensing and Registration
* Money and Merchant Accounts
Establishing a Business Plan
Establishing a Business Plan is the first step to building the foundation of the business. Hartman says "Those who fail to plan, well they plan to fail." A business plan explains the nature of the business and its purpose in serving its customers. While most business owners skip this crucial step, Hartman says, creating a business plan is necessary when seeking business loans and financing for structures and supplies.
Licensing and Registration
In order to incorporate a business, a business owner must obtain the various business licenses and register their business with the state department of financial institutions or similar government office. Obtaining the proper licenses is important not only for compliance but can also help protect the owner in the event of legal issues. By demonstrating the ability to obtain proper licensing, the state is more amicable in helping businesses follow industry standards.
Money and Merchant Accounts
After obtaining the required licenses, the business can now establish a method of generating income. This requires the business manger to look at how the business will generate its income and pay its employees. While self-employed persons may be able to rely on online merchant accounts such as PayPal, those with employees may want to search for a merchant account more amicable to the business payroll needs.
These are the first three steps to establishing a startup business. The business plan will help direct the business while licensing requirements will determine how the business is taxed. After these two activities are set, the business is able to focus on its revenue and boosting sales through its employees. These are all important steps for a new entrepreneur to follow when incorporating their business for the first time. After laying the foundation, How to Start a Business can help these entrepreneurs choose a business model, increase revenue and look at a marketing plan. These are just some of the pieces of business advice the website has to offer to new and existing business owners, as well as aspiring owners who want to establish their own start up.
###
Categories: Business
Press Release Contact
Media Contact:
Steve Davis
admin@aspectpublishing.com
Address:PO Box171231 Austin,TX 78717
Media Contact:
Steve Davis
admin@aspectpublishing.com
Address:PO Box171231 Austin,TX 78717
Press Release Options
Visit Web Site
Printer FriendlyAbout This Press Release
If you have any questions about this press release, please contact the listed publisher. Please do not contact prHWY as we cannot help you with your inquiry.