Thinking of owning your own business?

Opening your own business is exciting and thrilling. A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful business. Success lies in the approach you choose to take. We help you avoid the common pitfalls that many new small business owners make when starting their new venture.

We help you...

• Prepare an initial business plan to clarify your management and financial plans.

• Determine your start-up capital needs.

• Identify sources of start-up capital and backup sources, if needed.

• Evaluate and quantify your borrowing power, if needed.

• Select a business structure that best fits your needs by evaluating tax advantages, legal exposure, ease of operation and portability should you need to relocate.

• Select the right accounting software by evaluating your budget, needs, and hardware.

• Prepare a Cash Flow Budget so you know exactly how much money you need to keep the business alive each month for the first few years.

• Establish billing and collection procedures to maximize your cash flow.

• Establish procedures to monitor and control costs.

• Setup a home office so you can maximize your tax deductions.

• Prepare and file all required state and local licenses and permits.

• Prepare and file your application for your federal employer identification number (FEIN).

• Prepare and file payroll tax filings when you bring on your first employee.

• Comply with employment laws so you don't get hit with fines.

• Identify your business insurance needs.

• Develop a solid Partnership Agreement. This is an extremely important document for all new partnerships and will help prevent a tremendous amount of financial and emotional problems down the road.

Let Goodrich, Thomas, Cannon & Reeds, LLP help you succeed by getting your new business off to a strong start.