Going Into Business in West Virginia - West Virginia Department of ...

More documents

Recommendations

Info

Getting Started Personal Considerations These questions will help you evaluate yourself as a prospective business owner. They also may identify ways you can prepare yourself for business ownership. Each question’s relative importance depends on the type of business you want to start. Review them to identify your strengths and weaknesses. The more “yes” answers, the more likely you are to succeed. I like to make my own decisions and try my own ideas. Yes q No q I enjoy being challenged and thrive on competition. q q Common sense is one of my strong points. I realize I may have to lower my living standards for several years. I get things done on time and plan ahead. I know my own business will require me to work 60-80 hours a week. I have the energy to do all the work involved that the day-to-day operation will need: lifting, hauling, standing, walking, talking, smiling and driving. At times I’ll have to be all things to all people. I can stand the strain this creates. I know I don’t know everything and I’m ready to take advice from others. I’m adaptable. I’m not so routine-bound that I can’t change if the business requires change. I appreciate others’ points of view. q q q q q q q q q q q q q q q q q q I believe in my ability to make sound decisions. q q I do not give in to people to avoid a conflict. q q 8 Going into Business in West Virginia
Getting Started Financial Considerations I have a head for figures and maintain proper records. Yes q No q I am careful with my finances and have ways to save money. q q I have a good credit history. q q I know how to forecast sales and have the experience to use this information. q q I know how to keep inventory records, report sales, and withhold employee taxes for federal, state, Social Security, unemployment and workers’ compensation. I know how to analyze financial statements for effective business management. q q q q I know the suppliers and the assistance they can provide me. q q I know how to control my inventory or staff to meet the demands of my customers and my business. I know how to collect past-due accounts without losing customers. I know how to determine the cost of goods sold and how to price my product or service. I have a realistic idea of what my startup costs will be. q q q q q q q q I am willing to get training in financial areas I am weak in. q q I am willing to reassess my financial software, the professionals who assist me and my own financial knowledge annually. q q West Virginia Development Office–Small Business Development Center 9
Page 1: GOING INTO BUSINESS IN WEST VIRGINI
Page 4 and 5: Table of Contents Chapter 7 Chapter
Page 6 and 7: iv Going into Business in West Vir
Page 8 and 9: Getting Started Owning a business a
Page 12 and 13: Getting Started Notes 10 Going int
Page 14 and 15: Finding a Business Starting and gro
Page 16 and 17: Finding a Business • What are the
Page 18 and 19: Finding a Business Notes 16 Going
Page 20 and 21: Choosing a Business Location Your C
Page 22 and 23: Choosing a Business Location Before
Page 24 and 25: Choosing a Business Location 22 Go
Page 26 and 27: Deciding on a Legal Structure The f
Page 28 and 29: Deciding on a Legal Structure Disad
Page 30 and 31: Deciding on a Legal Structure perso
Page 32 and 33: Deciding on a Legal Structure partn
Page 34 and 35: Deciding on a Legal Structure and z
Page 36 and 37: Selecting Your Insurance At some PO
Page 38 and 39: Selecting Your Insurance What are t
Page 40 and 41: Selecting Your Insurance For furthe
Page 42 and 43: Identifying Your Market No matter H
Page 44 and 45: Identifying Your Market Generally y
Page 46 and 47: Identifying Your Market These ideas
Page 48 and 49: What have you done What are you doi
Page 50 and 51: Identifying Your Market Notes 48 G
Page 52 and 53: Advertising Your Business Advertisi
Page 54 and 55: Advertising Your Business 5. Don’
Page 56 and 57: Advertising Your Business • Disco
Page 58 and 59: Advertising Your Business Notes 56
Page 60 and 61:
Financing Your Business Will YOu ne
Page 62 and 63:
Financing Your Business Review and
Page 64 and 65:
Financing Your Business Small Busin
Page 66 and 67:
Financing Your Business There are o
Page 68 and 69:
Financing Your Business The Renewab
Page 70 and 71:
Financing Your Business Venture Cap
Page 72 and 73:
Financing Your Business Some state
Page 74 and 75:
Financing Your Business Also, work
Page 76 and 77:
Keeping Your Books Why keep reCOrds
Page 78 and 79:
Keeping Your Books Federal Income,
Page 80 and 81:
Keeping Your Books BooKKeeping sYst
Page 82 and 83:
Securing a Business License Getting
Page 84 and 85:
Securing a Business License File a
Page 86 and 87:
Securing a Business License What is
Page 88 and 89:
Securing a Business License What if
Page 90 and 91:
Securing a Business License Departm
Page 92 and 93:
Securing a Business License Contrac
Page 94 and 95:
Securing a Business License Notes 9
Page 96 and 97:
Business Planning Why write a busin
Page 98 and 99:
Business Planning Review the list o
Page 100 and 101:
Business Planning Notes 98 Going i
Page 102 and 103:
Finding and Hiring Employees How do
Page 104 and 105:
Finding and Hiring Employees Job ap
Page 106 and 107:
Finding and Hiring Employees The an
Page 108 and 109:
Finding and Hiring Employees Center
Page 110 and 111:
Finding and Hiring Employees Federa
Page 112 and 113:
Reporting Taxes As an entrepreneur,
Page 114 and 115:
Reporting Taxes To file, use the fo
Page 116 and 117:
Reporting Taxes Warehouse “Freepo
Page 118 and 119:
Reporting Taxes 3 SIMPLE STEPS If y
Page 120 and 121:
Reporting Taxes Notes 118 Going in
Page 122 and 123:
Using West Virginia’s Business Re
Page 124 and 125:
Page 126 and 127:
Page 128:
West Virginia Development Office Sm
show all

Going Into Business in West Virginia - West Virginia Department of ...

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?