Starting a business is a process, a long process. It takes more than just the desire to work for yourself to make your business thrive. Planning, researching, learning, and being in compliance are skills that are also needed to operate a business. This is in addition to your other most commonly known skills such as marketing, sales, purchasing, operations, financing, management. You get the point!
Often times we talk to business owners that have companies generating a profit, looking to grow and seeking funding, but we soon discover that their business was not properly established. For instance, recently we had a prospect that he had not done taxes in years. Although the company was established, we were not able to assist him at that time because this important part of running a business was not completed.
In order to avoid delays, here is an self assessment with questions and recommendations for Getting Your Business In Business.
See how many of these questions you are able to answer:
Does your business have a name, address and phone?
Is your business established? Meaning is your company registered with the Secretary of State, county and city?
Who is your registered agent?
How soon can you get a copy of your Articles of Organization/Incorporation?
Do you know your EIN (Employer Identification Number)? An EIN is a federal tax identification number, essential for filing taxes and opening a business bank account.
How are you maintaining financial records, including accounting records, financial statements, and tax-related documents and bank statements?
If you have W2 employees, do you have the proper insurance and are you filling taxes adequately?
Does your business owe money or have a lien?
Source Business Capital provides more than financial solutions. We offer a free business assessment to our clients. We work closely to get them funding ready. Watch your business grow today! Call 954-546-0546


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