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A decent policy can run as little as 0/year and offers a great extra level of protection.Prepare the business as if someone needed to take it over and run it for you.
Your business plan outline is the first step in organizing your thoughts.
And, when you follow the outline below, you ensure your business plan is in the format that prompts investors and lenders to take action.
Also, make sure to arrange for utilities and office furniture.
Depending on the type of business you are in, you may need a Federal license or permit.
Section I - Executive Summary 1 - Executive Summary The Executive Summary is the most important part of your business plan.
Because if it doesn’t interest readers, they’ll never even get to the rest of your plan. Finally, include a synopsis of your financial projections in your Executive Summary.If you intend to hire yourself or others as a full or part-time employee of your company, then you may have to register with the appropriate State Agencies or obtain Workers Compensation Insurance or Unemployment Insurance (or both).Setup your Accounting and Record-keeping system and learn about the taxes your new company is responsible for paying.Some state licensing requirements are based on the product sold.Contact your state licensing authorities to determine the licensing requirements of your business.My Company Works™ is dedicated to helping you start your small business as quickly and easily as possible.In this section, we’ve listed the specific steps required to start your business in any State.Start your Executive Summary with a brief and concise explanation of what your company does. Specifically, include your expected revenues, expenses and profits for each of the next five years, how much funding you are seeking, and the key uses of these funds.Next, explain why your company is uniquely qualified to succeed. Section II - Company Overview 2 - Company Overview The Company Overview section provides a brief history of your company.Also note that our incorporation and LLC formation clients receive access to The Startup Wizard – an online interactive startup checklist that is personalized to your state and company type (Corporation, LLC, etc.) that guides you step-by-step through what you need to do to properly organize your company after it’s been formed.If you haven’t already, prepare at least a preliminary business plan.