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Starting Tiny Business with Small Cost

A business plan is a declaration of your business; what you like to achieve and how you plan to go about it. It must outline the structure of your business, the service, the customer, the growth potential and the financials. It must also inspire you for the future. It’s a blueprint for what you like to achieve.

Choose an only one of its kind name for your Business. If you can pay for to rent an office, do so. On the other hand you can use a room at home which can be transformed into an office. Or else, rent a post office box so all your mail can be directed there and that way no Clients visit your house. The significant thing is that you have an address for correspondence.

Once you have sorted out the address, email and contact numbers you can keep to have your Business stationary prepared. E.g Letter heads and Business cards. The companies that do this normally have logos you can choose from. Or else, make your own Logo.

For this the bank would entail, proof of ID, your Business Letter head and Every now and then a small amount deposited into the account which would be yours anyway. This takes about 7 – 14 days to set up and you will be offer a cheque book in your Business name, a Paying in book.

Keep financial records. You could use an Excel spreadsheet to record details of your expenditure and details of incoming monies. This is significant and will make it easy for when you prepare the Yearly Accounts for your Business. Keep receipts of everything you purchase for your Business. On this scale, you do not need an Accountant. If you keep records very well, you can do the annual accounts yourself.

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