So you have decided to start a small business – you’ve got a great idea, you’ve defined your target market, and you’re excited about striking out on your own. After all, isn’t that what the American dream is all about?
After you have filed your entity formation documents with the Secretary of State, set up shop in the perfect location and daily operations are underway, you are probably wondering what potential hazards lie ahead. What should you be prepared to handle and what did you forget to do or just didn’t know you were supposed to do? Such concerns are common for any small business owner, especially those starting out for the first time.
There are a number of published books and free guides out there that provide invaluable information for someone starting a business for the first time. The North Carolina Secretary of State publishes several guides to incorporating your business and can be obtained online for free at http://www.secretary.state.nc.us/Corporations/. Additionally the Small Business Administration is another good source of free information on starting and managing your business and can be accessed at http://www.sba.gov/. [Read more…]