Academic journal article Journal of Accountancy

Starting a Small Business

Academic journal article Journal of Accountancy

Starting a Small Business

Article excerpt

Are you a CPA starting a business? Do you have clients who are starting a business? The Small Business Administration has a list of issues potential business owners should consider, some of which are listed below. For more help, including additional information on each of the items below, visit the SBA at http://www.sbaonline.sba.gov/or call the SBA at 800-827-5722.

MAKE SURE YOU HAVE

* The personality it takes to manage a business. You will be your own most important employee, so an objective appraisal of your strengths and weaknesses is essential.

* Considered the type of business suitable to your skills, interests and the local economy.

* Defined the business in detail. It sounds silly, but many owner/managers never truly ask themselves what business they are in.

* Reviewed the four basics of success: sound management practices, industry experience, technical support, planning ability.

* Drafted a business plan. This is your business' resume. …

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