New Business Formation / So, You Dream Of Owning A Business.
Opening your own business is thrilling and exciting. How your business is first formed can help you to keep the “thrill and excitement” ongoing.
A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful business. Success lies in the approach you choose to take. Stylianou Accounting can help you avoid some of the common pitfalls that many new small business owners make when starting their venture.
Our New Business Formation Services Help You…
■ Prepare an initial business plan to clarify your marketing, management, and financial strategies.
■ Determine your start-up capital needs.
■ Identify sources of start-up capital and backup sources if needed.
■ Evaluate and quantify your borrowing power so you know how much money you can get your hands on if needed.
■ Select a business structure that best fits your needs by evaluating tax advantages, legal exposure, ease of operation and portability should you need to relocate.
■ Select the right accounting software by evaluating your budget, needs and hardware.
■ Prepare a Cash Flow Budget so you know exactly how much money you need to keep the business alive each month for the first few years. Unplanned cash requirements are always emotionally painful.
■ Establish billing and collection procedures to maximize your cash flow.
■ Establish procedures to monitor and control costs.
■ Setup a home office so you can maximize your tax deductions.
■ 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 laws so you don’t get hit with fines and unhappy employees.
■ Identify your business insurance needs.
■ Develop a solid Partnership Agreement, LLC Operating Agreement or Corporation ByLaws. These are extremely important documents for all new Partnerships, LLCs and Corporations and will help prevent a tremendous amount of financial and emotional problems down the road.
■ For legal services you will be referred to an attorney specializing in the subject area.
Let us help you succeed by getting your new business off to a good strong start.
Call Us: 718 606-0766