Legal Entities and Tax Issues, how will your business find its identity? In session two we will be exploring the differences between the business entities available to a startup business.
Each entity comes with its own advantages and disadvantages. Through the guidance of a certified SCORE mentor, those options will be thoroughly explained along with the tax implication of the ultimate decision.
?This session will also look at several related issues:
- Importance of accurate records and bookkeeping options.
- Tax filing requirements and paying estimates.
- Payroll Taxes, Sales Tax, Social Security, and Unemployment Tax.
- Financial consideration.
Attendees will have the ability to interact with a certified SCORE mentor with career background in income tax and business entity planning.
Researching Your Market, bringing your business to the customer. Researching your market is a crucial step and involves so much more than just knowing what your business intends to offer. If a business is going to succeed, this step is critical. Many businesses that close, fail because this step was not taken care of before launching the business. In this session, attendees will be given the steps necessary to properly:
- Identify their product or service.
- Assess who their competition is and where they are operating.
- Evaluate their customers and their needs.
- Pricing their product or service
- Determine the marketing platforms they will use to attract the customer
These and additional topics will be discussed in an interactive session led by a certified SCORE mentor with a background in marketing and sales.
What is a Business Without a Plan? Eventually, just an idea.
In our final session we will explore the various types and formats for developing your business plan. The business plan forms the backbone of your business and along with serving as a roadmap, provides a method for measuring the success of the business at chosen intervals.
Along with discussing the different plans, several nagging questions will be addressed.
- What constitutes a formal business plan, and do I need one?
- How will I measure the success of my business?
- If I need support, financial or otherwise, who can I turn to?
- What are some of the different ways to finance a business?
?As in previous sessions, attendees will have the ability to interact with each other and with the certified SCORE mentor facilitating the session
