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What the requirements to start small business

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What kind of business do you want to start?

Report Chris's answer

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  1. Separate personal and business banking accounts.
  2. Money set aside for taxes.
  3. Business Credit card or Line of Credit.
  4. Documentation and Filing system.
  5. A good accountant.
  6. Scheduling, planning and managing system.

Report Recore's answer

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First thing is what type of small business do you want to start? What services or products will you be offering to the people? Secondly is what are your business goals. Remember the most two things to invest in whatever you want are TIME and MONEY. And I think to me they are the requirements to start up any business. Because you have to first invest your time to know yourself better of what you are capable of doing and what you like and know what you are about to start then you can invest in

Report Malele's answer

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Dest hi. Your inquiry has more than one perspective because will depend of your country, market, etc. However, in general you will have requirements such as: a) product / service to offer, b) market demand, c) biz structure, d) legal (registration, license, fees, permits, regulations, tax id, etc), d) insurance(s), e) funding, f) personnel, g) location (physical and/or virtual), h) vendors, i) banking (account, credit card, credit line, loan), j) professional assistance (i.e. accountant, lawyer), k) accounting system, and so on. A previous market analysis, followed by a business plan, will help you to evaluate and organize the mentioned items. Please read these links: https://www.sba.gov/business-guide/10-steps-start-your-business (adapt it) --- https://www.2merkato.com/articles/starting-a-business/ --- https://www.dummies.com/article/business-careers-money/business/marketing/13-cheap-market-research-methods-you-can-do-yourself-152890/ --- https://www.score.org/resource/business-plan-template-startup-business --- Enjoy the process and have success.

Report Miguel 's answer

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About 70% of people who run a small business in the United States run their business on a very simple truth: They are exceptionally good at doing something that others are willing to pay them for. Therefore, it is critically important for most people to have a developed skill, trade or some ability to deliver something of value to the marketplace. And if there is demand for this value in the marketplace and if you can communicate this value to enough people, then you have a basis for a small business.

Everyone has talents – maybe you are good at repairing cars, you have a talent for cooking, working with children, you learned how to drive a truck. You need to develop something of value that has demand in the marketplace. In some cases, it requires going to school to learn a trade – becoming a therapist, becoming a dental hygienist, becoming an electrician.

You need to take a hard look at yourself and make a determination as to what talents do I have and how do I develop these talents so it can be delivered to the marketplace as a business. The challenge is finding something that has demand. If you deliver something where there is more supply than demand, then you will find it much more challenging to create a business. This is where I would start: What are you good at and is there demand for it in your local marketplace? Once you make a determination as to what you want to do, then try and execute on your venture by preparing a business plan.

Report Matt's answer

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First of all you have to master the business that you are going to start, even though you haven't learned it yet. From here you will know what steps you will take next. Thank you

Report Andrean's answer

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