Starting a business
1. Decide business form, whether it's individual, partnership, company or limited liability company (LLC). In Indonesia, we could say it's Firma, CV, PT, and so on.
2. Business name
3. Location depend on business type
4. Prepare and backup for failure due to lack of business planning, inept managers or employees, incomplete accounting records, improper financial reports, lack of control over assets, bad credit policy and inability of the owner to reach or act on decisions.
5. Bank account, and try to know bank manager
6. Zakat and payroll taxes, try to know and calculate how much our business will spend money
7. Hiring employees
8. Utilities: phone bill, water, gas, electricity and so on as operational fees
9. Licenses and permits, request for it to city or county offices
10. Insurance
11. Bookkeeping and Accounting
12. Equipment
13. Suppliers
14. Promotion and advertisement
Startup cost
Considering startup cost
Cost:
* Down Payment
* Amount of each payment
Furniture, Fix Asset, & Equipment:
* Decorating and remodeling
* Installation of fixtures and equipment
* Starting inventory
* Deposits with public utilities
* Legal and other professional fees
* Licenses and permits
* Advertising and opening promotion
* Advance on lease
* Other and Misc. cash requirements
---- Total etimated cost needed to start
Estimated monthly expenses:
* Salary of owner-manager
* All other salaries and wages
* Payroll taxes and expense
* Rent or lease
* Advertising
* Delivery expense
* Supplies
* Telephone
* Other utilities
* Insurance
* Property taxes
* Interest expense
* Repairs and maintenance
* Legal and accounting
* Miscellaneous
----- Total Estimated Monthly Expenses =
Then multiply by 4 (4 months)
Add it to total Cost needed to start above
TOTAL ESTIMATED COST NEEDED
___________________________
Reference and sources
- Article at: http://www.howtoadvice.com/BusinessStartup/ by Theodore Hansson
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