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New Business Formation

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Thinking of owning your own business?

Opening your own business is exciting and thrilling. It's everything that comes after the excitement and thrill has worn off that dictates whether a small business will make it or not. It's up to you to maintain and stretch out the "thrill and excitement" period forever.

There are many decisions that a business makes in the first few months that can greatly affect the future of the business.  It is important to understand the different types of business entities and the difference between the entities. BeanCounters can help you set up a new business entity and make sure you launch your business effectively and efficiently.

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. We help you avoid the common pitfalls that many new small business owners make when starting their new venture.

BeanCounters will help you...

  1. Prepare an initial business plan to clarify your management and financial plans.

  2. 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.

  3. Select the right accounting software and provide the necessary training.

  4. 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.

  5. Establish billing and collection procedures to maximize your cash flow.

  6. Establish procedures to monitor and control costs.

  7. Understand and maximize small business tax deductions including vehicle and home office

  8. Prepare and file all required state and local licenses and permits.

  9. Prepare and file your application for your Federal Employer Identification Number.

  10. Provide payroll and payroll tax filing when you bring on your first employee.

  11. Comply with employment laws so you don't get hit with fines and unhappy employees.

  12. Identify your business insurance needs.

  13. Develop a solid Partnership Agreement. This is an extremely important document for all new partnerships and will help prevent a tremendous amount of financial and emotional problems down the road.

Let us help you succeed by getting your new business off to a good strong start.

Let us help you succeed by getting your new business off to a good strong start. Please complete the form below to learn more about our New Business Formation Services.

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