Who’s thinking to start a new business this year?

HAPPY NEW YEAR! Tis the season to starting a new business. There has been an influx in interest in Entrepreneurship and becoming a Business Owner but what does that mean?

Being an Entrepreneur is normally someone that files as a Sole Proprietor. A Sole Proprietorship is a form of business where the person is technically the business such as a Consultants or Side Hustlers.

Being a Business Owner is normally someone that files their business with the Secretary of State as a LLC, Partnership, C-Corp, S-Corp, etc. A Business Owner is someone that owns an entity that sells services or products with limited liability.

Here are a list of things you need to make sure you have when starting a business:

• Business Legal Type (LLC, Sole Proprietorship Partnership, S-Corporation, etc.)

• Business Pitch Deck (Mission, Company Values, Products/Services Listing, Startup Cost, etc.)

• Business Goals (immediate goals (next 3 months, short-term goals (3-6 months), year-end goals (6-12 months, etc.)

• Trademarks, Copyrights or Patents

• Licensure or Certifications

• Contracts, Agreements or Legal Documents

• Business Contact Information (website, landline phone number, business email, business address, etc.)

• Business Social Media (Google for Business, Yelp, Facebook Fan Page, Instagram, Youtube, Blog, etc.)

• Business Reviews (Facebook Reviews, Google Reviews, Yelp Reviews, Website testimonials, etc.)

• Business Continuity Plan (what will happen if something happens to the business)

• Business Software (MS Office Suite, Payroll Processing System, Merchant Accounts, Accounting System, etc.)

• Marketing Plan and Strategies for products/services

• Financial Statements and Oversight

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