Startup Business Essentials.

For many, starting a business is the path to achieving their dreams. For others, it's a way to earn a living doing work that excites them. Either way, you're likely to have some questions about what it takes to get your company off the ground. Here's what we recommend you know before you take the plunge:

Incorporation

Decide whether your business should be an LLC or corporation. Both of these structures offer different protections for your personal assets and tax benefits for your business.

Business Plan

Write up a comprehensive plan that covers your financials and marketing strategy, as well as how you'll address any issues that may arise during the first few years of operation.

Funding

Figure out how much money you need to start your business and where it will come from. You can fund your company yourself or seek financial backing from venture capitalists and other investors.

Location

Choose where your business will be located based on factors like foot traffic and lease costs. If you plan to operate online only, make sure to invest in great website design and branding so you stand out in the sea of other online sites.

Get Business Insurance

Business insurance can be a lifesaver for your company.

If you own a business, then business insurance is essential to protect you from potential lawsuits and unforeseen disasters. When you're protected by insurance, you can rest easy knowing that your employees and your assets are protected.

Create an Accounting System

Accounting might sound like a nightmare, but it's actually a reality that you can deal with. If you're running a small business, you might have been under the impression that accounting systems are only for big businesses. But not so! You need to keep track of your cash flow and show your taxes to the government whether you work in a 1-person shop or in a 1,000-person office.

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