Requirements for starting a business

In this article, I would like to explain the requirements for starting a business, the factors to consider before starting your business.

Requirements for starting a business 1. Education in business

Many people consider to be an entrepreneur, means throwing a business without thinking much, and some mysterious way, creating a successful business. However, the majority of people who have success in business, is the first all through education in businesses that were, or who were learning during the development of the business.

In many enterprises transnational, to take a management position, requires having a master's degree in business administration, not for being elitist, but because the education gives you the ability to make better decisions.

In this condition, I recommend you check the CEUN 2.0 course. This course so we develop physically for those people with little education in business, they need in a short time, learn to start a business with success.

Requirements for starting a business 2. Time

Very few authors in administration, talking about a fundamental resource for starting a business. This is the time that will invest in the business.

Any businessman can tell that business cared little, business failure. Start a business does not mean simply start it, it will succeed. They began business is the easy part, the difficult part is to keep and grow over time.

It is therefore essential that is honest with himself, and determine if you have enough time to dedicate to the business. There are some types of business that can take less time, for example when working part-time or full-time, and you want to start a business without giving up the job. You can read this article on how to start a business without giving.

Requirements for starting a business 3. Capital

Any business requires capital or money. There are businesses such as Internet business, requiring little capital. However, most need sufficient capital, not only for the process to start the business, which consists of expenses such as the payment of advance income, refurbishment of the premises, buy initial inventory, purchase of furniture, payment of contracts; beyond this, something that should be considered is the flow of cash from the business activities.

That is, considering how much money goes, and how much money comes out daily or monthly, and determine the additional capital that we need to pay off short-term debts. For example, many companies give credit to their customers to pay in 30, 60 or 90 days. However, they may need to pay for the purchase of inventory on a single display. This means that we need capital to pay to the provider, which we hope we pay customers.

Requirements for starting a business 4. Business plan

Before starting a business, you need to make your business plan. The plan is the guide or map that will lead in the process of starting the business. I.e. it is not a formality, but help you need to know what to do, when, how much, how to do it, etc.

I recommend you check our section specializing in business plans.

Requirements for starting a business 5. Finance

Another factor to consider is that it will have to register with finance (more specific to the SAT in Mexico, or the corresponding Ministry in their country).

There are different modes for each type of business, however, there are options to simplify the relationship with finance.

In Mexico, it is highly recommended to enrol as a small contributor or I REPECO. In this mode, forget about accounting problems, submit invoices, present state and overall assessment of results, and only pays a monthly fee, depending on income he had. However, the against is that it will not give bills, but notes of purchase. This is a disadvantage because many customers buy based on giving them an invoice.

Another method involves the assistance of an accountant. It is required to "compute" the tax to pay, and this takes time, skill, and work.

Conclusion

These are the requirements to start a major business. Obviously there are subpasos to be considered, for example, all financial analysis, which is carried out in the business plan.

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