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Figure out ways to find that extra cash

 Determine how much startup funding you’ll need, which your business plan should also cover. The safest way to fund your business at first is through self funding, whether it's your personal money or borrowed from friends or family, allowing for overall control of your company. If you’re unable to self fund, you can look into getting loans  or help from SBA investment programs. You could also pursue investors, but they’d have partial ownership of your company, or crowdfunders which don’t expect their money back, just a “gift” of some sort from your business (like meeting the business owner, receiving credits, or physical products). It is smart to anticipate all costs of your expenses and products so that you can perform a break-even analysis so that you can determine pricing of your products/service and what it’ll take to make profit.

You then need to figure out your business structure which will impact how much funding you’ll need. Decide whether you’d like a sole proprietorship, partnership, corporation, cooperative, or limited liability company. This determines what taxes you’ll need to pay, how much of your personal assets are at risk, how your company would operate, and what legal protection and benefits you could receive. Through proper thorough research of each structure, understand which best fits your visions and needs of your business

Step Up For All

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