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Priscilla G Sabado is no stranger to starting a new company. She has co-founded many in her long career as a businesswoman and financial consultant, including Polestar Corporation and LiveBrand Corporation. She has been working as an independent financial consultant, owning her own business since 2004. Here Priscilla G Sabado offers some of her best advice on how to start a new business venture: - Write a business plan. No company will get anywhere without a solid business plan. A business plan outlines the new company’s goals and serves as a detailed road map of how it proposes to attain those goals. With a solid business plan, a company stands a much better chance of surviving through the tough startup phase. Following through on a good business plan can make starting a new business as easy as following a recipe. - Choose a location. Location, location, location, as they say. A good location for your business will mean the difference between the life and death of your startup company. - Get financing. There are many ways to finance a business, including government loans, venture capital, and private investors. Take some time and do a little research as to what type of investors might be interested in a business idea like yours, then go out and do the grunt work of raising the necessary funds. - Decide what type of business you will have. Is your business a sole proprietorship? A partnership? A limited liability corporation (LLC)? A corporation? S corp? There are many different kinds of legal structures for your business and each has its own set of advantages and disadvantages, as well as tax structures. Again, do your research and decide which is the best fit for your new company. - Register your business. You will need to register your business name and obtain a tax ID number from the federal government. You will also need to register with your state and local tax offices. - Get licensed. You will need to obtain whatever licensing and permits are required to do your type of business at the federal, state, and local levels. Obviously, there are many elements involved and there is no sure-fire way to ensure your startup venture will be a success, but if you are able to take care of these few things, you will be well on your way to doing business with your newly formed company. https://twitter.com/PriscillaGSabad
http://www.sba.gov/content/follow-these-steps-starting-business
http://www.inc.com/jeff-haden/how-to-start-a-small-business-in-a-few-hours.html
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