According to the statistics, about one new business has been formed every minute in the U.S., while another shuts its doors every 80 seconds. This life cycle of birth and death is a key driver of innovation, healthy employment and overall economic growth. Opening your own business is exciting and thrilling but it is vital to have a methodical plan of action in order to fulfill your dream and run a successful business. Success lies in the approach you choose to take.
We help you avoid the common pitfalls of Orlando business formation that many new small business owners make when starting their new venture.
We will help you to:
- Prepare an initial business plan and determine your marketing, management, and financial strategies
- Determine your start-up capital needs
- Identify sources of start-up capital and backup sources if needed
- Select a business structure that best fits your needs by evaluating tax advantages, legal exposure and ease of operation
- Form legal entity and provide you with by laws or operating agreement
- Select the right accounting software by evaluating your industry, budget, needs and hardware
- Prepare a profit and loss and cash flow budgets so you don’t overspend
- Establish billing and collection procedures to maximize your cash flow
- Establish procedures to monitor and control costs
- Assist you with lease negotiations
- Identify your business insurance needs
- Prepare and file all required state and local licenses and permits
- Prepare and file your application for your Federal Employer Identification Number
- Provide payroll and payroll tax filing when you bring on your first employee
- Comply with employment and sales/use tax laws
In addition to our experienced team members in Orlando business formation, we have many resources to share with you for your banking, insurance and legal needs. Let us help you to do this right the first time.