New Business Guidance in Warwick, RI

Are you thinking of starting your own business?

Starting your own business is both exciting and challenging. A methodical plan of action is needed to fulfill your dream of being your own boss and running a successful business. We help you avoid the common pitfalls that many new small business owners make when starting their new venture.

We help you...

1. Register with the appropriate federal and state authorities.

2. Prepare an initial business plan to clarify your marketing, management, and financial plans.

3. Determine your start-up capital needs.

4. Identify sources of start-up capital and backup sources if needed.

5. Evaluate and quantify your borrowing power so you know how much money you can obtain if you need it.

6. 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.

7. Select the right accounting software by evaluating your budget, needs and hardware.

8. Prepare a Cash Flow Budget so you know exactly how much monthly cash flow is required to sustain your business.

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

10. Establish procedures to monitor and control costs.

11. Prepare and file all required state and local licenses and permits; file your application for your Federal Employer Identification Number; and provide payroll and payroll tax filing when you bring on your first employee.

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.