Startup Finance

I'd like to start with "start up cost"
1) How big is the store front?
2) Is it a retail outlet?
3) is it in a good location?
4) what is your advertising costs you're willing to spend?
5) INSURANCE COST?
6) inventory and storage?
7) employee and staff costs IE( with holdings for soc. sec., unemployment ins,
Medicaid, employee taxes, workman's compensation, etc, )
These are all factors that come into play. I don't know what type of business you are planning to open, but in any business there are at least one or two of the above mentioned factors to consider.
Have you ever thought about an on-line business?
I have no idea what your age is, but I would like to ask you a question, if you could turn back the years, knowing what you know now, would you have gotten into EBay or Amazon? If your answer is yes, then we need to get together and talk. I won't take up anymore of your time, but if you are interested, feel free too contact me anytime.
Hope I've been of some help, and good wishes in your endeavor.
George Johnson
george.henry.johnson@gmail.com

Absolutely. And you don't need a loan or a grant to do it either. I teach 'like-minded' felons how to be their own boss and create their own paychecks.

This will depend on many factors, of course. Among the big questions: is this a new clothing line or a business that manufactures clothing? Is it both? There is a reality TV show that offers $100,000 to its winner to start a new clothing line. This amount is completely arbitrary. You may be able to get started with little or no investment. You should be able to develop a prototype of your clothing on your own, or with the help of a seamstress or tailor. Then you can take this prototype to local stores to sell them on it. When you have buyers, you can have the clothing made.

Depending, most make about $35,000 up to $65,123 a year, this is the average. Some make even more or less.

It depends on what type of business you want to go into. Some people will have only a Grade 10 education (or, in the early 1900s lucky to have an 8th Grade education.) Now we can take business courses and it's always best to get a good accountant (CGA) to do the taxes at the end of the year so you must keep up your bookkeeping skills and be sure you pay all taxes and also keep receipts of business transactions and also learn the skills of possibly becoming an employer and what the rmployees rights are. Many people with a lower education have become millionaires by trial and error. good connections and a whole lot of luck. I have also heard (my husband is in the yacht business) that many millionaires have lost millions to gain millions and some lost so much they had to start from scratch. Sometimes it's a good idea (gives you an edge) to have a close and trusted friend become a partner with you and to be sure your partnership is drawn-up in contract by a lawyer. Often a partner may die and the other partner is left holding the bag, or, in many cases the spouse of the deceased may want to sell that share of the business. Take business courses and learns the ins and outs of business. Be sure you pick a good business (eg: computer games, technical, computer work for different companies (in home business which makes for a low over-head) etc.) It sounds mind-boggling, but, if you love what you do you'll usually be quite surprised at how well you do. Study the market out in the business world and see what's hopping and what isn't. Remember to always keep some spare cash in a special account for emergencies and don't start your business too quickly. I live in Canada and two young women started selling Mukluks (they are leather with fur on the top and come up to just below the knee) and decided to dye some of the leather in beautiful pastel colors. They not only wore them wherever they went, but sold them at Kiosks (small stands in malls) and sold door-to-door. Before they knew it women were coming up to them on the street and ordering and they had a thriving business and so much so, they were racing around getting much more help to get their orders out. The lady who wrote the Harry Potter books is another great story. She lives in England and while married she loved to write these stories as a hobby and when her husband walked out on her and she was left destitute her best friend told her to send one of her written stories in to a publisher and the rest is history. Most of the successful people out there have a lot of help and aren't always the brains behind the success (they hire people to do this.)

An advantage could be that it helps kick start Small Businesses that don't earn much revenue and need more staff or branches before they can start earning enough revenue however, a disadvantage would be that it's quite a bit of a pay back. The disadvantages of the short term sources of finance is that they cannot be used to finance very big and major projects.

To start any business, you should begin with a business plan. Also: * Be very aware that vending operations, including pool table rental (and the gambling that sometimes occurs on the premises) and use are under the control of organized crime in the U.S.

* Plan carefully and if you get a loan, make sure the source is legit.

When starting a business, a plan is VERY important. The reason is, it is risky when starting a business. If you take a few days to brainstorm, think and write down everything from what you need to do, to your targets, to what to do in certain situations, you eliminate the chances of rushed decisions, that are not well thought out, that could effect the business negatively. If something happens, you can just pull out the plan, see what to do, predicted outcomes, and possibly what funding is available in some instances, you know it is a good choice because you have thought it out beforehand! Also in a business plan, you have your business rivals, you can use the state of your rivals when you started the business, to where you are now, all that is stated in the business plan.

Bottom line is, don't take the risk of starting a business without a business plan.

Let's start with the basic business license. Most cities and/or counties may require that if you are starting a business you will need to first acquire a business license. What is a business license? By definition a business license is a legal authorization in document form issued by municipal and/or state governments and required for business operations. Don't get this confused with DBA. So then what is a DBA?

DBA is an abbreviation for "doing business as." Certain jurisdictions may also use the terms fictitious business name, trade name or assumed name. DBA registration is necessary if your business operates under a name other than its legal name.

For a corporation, LLC, or other state registered entity, the legal name is the name on the filed articles. For all other business entities, the legal name is the personal name of the business owner or owners. Conducting business and opening a bank account under any name other than your legal business name is only possible after fulfilling your state's DBA filing requirement. And what if you are selling items? Do most states require a state seller's permit?

If you sell, lease personal property or sell taxable services at a retail or wholesale level, you are required to obtain a Seller's Permit. If you have more than one location where sales are made, a separate license is required for each location. You must obtain a State Employer Identification Number Also Called a State Tax Id EIN if you:

Pay wages to one or more employees

If your business is a corporation and you are an employee of the corporation (recommended so you can obtain all the tax free and deductible corporate fringe benefits)

if you are a sole owner and the sole employee of your business getting an EIN is not required as long as you report the financial results of your business on Form 1040, Schedule C. The IRS and the Social Security use your social security number to track self-employment tax. A federal tax identification number (also know as an employer identification number or EIN), is a number assigned solely to your business by the IRS. Your tax ID number is used to identify your business to several federal agencies responsible for the regulation of business.

Any business offering products or services that are taxed in any way must get a federal tax ID number. Here are some important resources to remember when filing for any of the above documents mentioned in this article. Just refer to the link below to get not only just in-depth information, but also excellent professional assistance. You won't be disappointed.

Business process outsourcing means subcontracting a certain business task like payroll or customer service support to a third party. This is often divided into back office outsourcing that deals with billing and purchasing, and front office outsourcing that deals with help desk or customer support.

okay i know it says two reasons but there are a number in which you can choose from

1-the individual may want to be his/her own boss.

2-to have a good income to support themselves or family

3-they can open an close any time they want....therefore not having to work over time

4-they can make their own decisions because they are their own boss

Venture capital is money invested in start-up companies to help them get off the ground.

It is considered to be high risk for the investor, but can result in above-average returns.

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The primary advantage of venture capital is that they allow entrepreneurs to build their company with OPM (other people's money). If you need financing to build your technology or product and don't have the money to do it yourself, the idea is that the ventue capitalists provides the capital to allow you to build. In exchange, the venture capitalist takes some ownership in your company. The venture capitalist then hopes that your company increases in value and ultimately has a liquidity event (e.g. IPO or sells to another company) so that they can get a return on their invested capital. In addition to capital, venture capitalist can be an invaluable source of information, resources and contacts to help you be successful. More times than not, venture capitalists have experience building companies themselves so they can really help you think strategically about how to grow and be successful.

I believe that Nike is a publicly traded company, call symbol NKE, trading at about $53/share. So you can buy yourself a piece of Nike if you want, unlike say Menard's where you can save big money but not make big profits, it is not publicly traded. Nike is "private" in that it is owned by individual shareholders(including other private groups such as mutual funds), rather than being owned by the government, such as the Post Office, NASA, apparently Chrysler, maybe GM, and some big banks, at least partially.

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If you are an expert or have some business skills then you can start a successful business. There are different business categories like you can start a clothing business or a small food restaurant. Its good to start a business in which you have some skills suppose you are an expert hair stylist then you can start your own business similarly if you have cooking skills then its good to start food business.

Answer

If you keep your day job for survival money, $10 K might help you get started in a service providing company. For manufacturing an invention, you would need much more. Write a business plan before you get started and then find someone who knows the ropes to teach you the right decisions. There is an organization called SCORE that has helped many.

A competitive environment always leads to evolution, which is the law of nature.

Any employer that does not have WC insurance is liable for employee med costs for workplace injuries PLUS damage lawsuits. Those with WC insurance can never be sued for employee injuries.

250+

Type your answer here... you need to have good grades in your waec, jamb etc.

Generally, yes, as long as you are not in violation of a noncompete agreement with your employer. If you do have a noncompete agreement, you would likely need to consult an attorney to know if it is enforceable or relevant to your particular startup.

A Health and Safety Policy in the workplace is the basis for all of management to understand that considerations of the health and safety of the workforce are important to senior management. Without a policy, there is only word of mouth and rumor as to whether the CEO cares about such things, and those can get lost in the pressure of day-to-day events or the turmoil of personnel changes.