Advices to open a business

You have a business idea but you do not know with certainty what steps you need to take to turn this idea into reality? Besides of a very consistent amount of money, you need a lot of free time, patience and ambition. Here are some advices of what you have to do to open a business:

42-16875144 Man Putting out Open Sign --- Image by © Royalty-Free/Corbis

• Make a plan: Do you think your business is a necessary one and there will be consumers/customers? Then put to battle a plan. Look out for everything you need (starting from pens and sheets of paper, to staff and space for rent). Write down all costs and see if you fit in the budget you have. If you do not fit, but you trust in the business potential, take into consideration a bank loan option. But analyze carefully all details and calculate if after payment of debts you get out on profit.

• Research the market: All right, you have a good business, but how it works in terms of competition? Although this should not be a huge obstacle (promotion and promotions are just two of the keys to success in business), you’d better take this into consideration. If there is already a large company that has captured a very large number of the possible customers, don’t get discouraged but think about what you can add.

• Open a business: To open a business is a difficult step because you have to pay some fees and to provide a lot of documents. First it is necessary to think of a name then you have to go to the National Trade Register Office, where you will apply for the availability of the name and you will pay a standard fee.

After this step you need to go to the bank, the notary, to submit a series of necessary documents and to get plenty of approvals for your headquarters (fire brigade, environmental health, veterinary or labor protection). Also, you will definitely need an accountant from the beginning, even if you will not manage to stand up and to have profit from the beginning. Also, remember that state taxes are required whether or not you have work.

• Do a lot of advertise: After you have done your company, it requires an intensive advertising and the approach of future clients. Social networking sites are currently the best option for advertising, but you can call with confidence and to site promotions. Thus, a service with a 50% discount will make you quite familiar.