Many people like to leverage their knowledge and expertise and open up their own small business. But unless they also happen to have earned an MBA, they’re probably not well-versed in areas like how to form a corporation, set up bookkeeping procedures, or calculate cash flow. Therefore, these entrepreneurs could benefit from a partner that is proficient in all of these areas of starting a business – like the small business accountants at TriCPS.
Developing a Business Plan
For example, many people may not have the slightest idea of how or why to devise a business plan. This process helps you flesh out exactly how you plan to launch and grow your business. TriCPS can help you design a comprehensive business plan which covers marketing, financial, management, and other important business areas.
Then there’s the issue of how you will fund your business. TriCPS can aid you in figuring out how much startup capital you require, as well as computing your borrowing power and identifying multiple sources of funding. Then TriCPS can walk you through the steps of acquiring the necessary financing with terms that are as favorable to you as possible.
Designating Your Corporate Structure
One of the most important decisions to be made when starting a company is deciding under what business structure it will operate. Determining whether you want to incorporate the business or simply designate it as a partnership has implications for tax advantages, liability, operational procedures, and portability. Not only can TriCPS assist you in making the right choice in business structure, but we can also file the required documentation with the state of Florida and the federal government on your behalf.
Drafting a Partnership Agreement
If you are partnering with another company or entity, it is vital that you draw up a partnership agreement which addresses your financial needs. Establishing the terms of a partnership before the business launches will prevent a host of potential financial and emotional pitfalls in the future. The accountants at TriCPS can formulate a partnership agreement that will protect your near-term and long-term interests.
Finally, TriCPS can expedite the processes involved with getting your company compliant with all federal, state, and local laws. TriCPS will make sure that your business has all needed permits, is correctly filing payroll taxes, follows all relevant employment laws, and obtains the necessary business insurance.
TriCPS Can Help!
Starting a business of any kind takes careful planning, adequate financing, and skillful execution. So if you want to put your small business on the road to success, let the small business consultants at TriCPS guide you through the process of business formation. Get started today with a free, one-on-one consultation by calling TriCPS at 954-351-0336 or contacting us online.