Starting a Business | Part 1: Business Plan and Licenses
Starting your business is a fun yet often stressful venture! To begin this series, we introduce the importance of writing a business plan and having permits in place.
- Business Plan
Writing a business plan is very crucial if you’re opening up a business you must have at least a vague idea of how it is going to go for the first few years, write it down and you have your business plan. Of course, you might need to draw some financial projections as well but it's nothing too complicated.
- Licenses and Permits
Next step is obtaining all the necessary licenses and permits. Depending on the type of business the licenses you need might vary i.e. some businesses require having a federal license other need a state license. If you’re selling a product you might also need a Sales Tax Permit.
Stay tunes for next series...