Starting A Business Starting your own business can be very rewarding but it is not an easy task as many people think it is. You have to plan and look at each step carefully. Its not something you just think about one day and do it. Look at everything from what you are selling and where to writing a business plan and getting your business set up. The first question you should always ask yourself in starting a business is “Why do I want to work for myself, rather than for somebody else (Bradish)?” This will help make the planning process easier. You also have to think what kind of business you want to start. If you plan on it being a home business where you don not have to leave then you should not pick something that you have to travel a lot. If you want customer flow and you do not live around anyone then you should think about getting a storefront location. You want to try to use your stills and talents. This will help you choose and it will also help you generate more money. These are key things to look at when staring a business.
There are some key …show more content…
The earrings grow tax-free, and distributions escape income tax if you use the money for medical expenses. Other wise, you pay income tax plus a 10 percent penalty (Clark).
This way you have money set aside for medical reasons if you may need it. Either way you should have one in place when you start your business.
Plan for your retirement as soon as you start your business. “You’re going to want to retire someday (Clark)”. Rather its is when you get old or when you have enough money too. One good thing about owning a small business when you retire is you contribute more to your retirement accounts then you would if you got a salary job. Make sure you have a plan of whom it going to take over the business. It can be someone in your family or you can have a realtor sell the business for
There are some key …show more content…
The earrings grow tax-free, and distributions escape income tax if you use the money for medical expenses. Other wise, you pay income tax plus a 10 percent penalty (Clark).
This way you have money set aside for medical reasons if you may need it. Either way you should have one in place when you start your business.
Plan for your retirement as soon as you start your business. “You’re going to want to retire someday (Clark)”. Rather its is when you get old or when you have enough money too. One good thing about owning a small business when you retire is you contribute more to your retirement accounts then you would if you got a salary job. Make sure you have a plan of whom it going to take over the business. It can be someone in your family or you can have a realtor sell the business for