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Business Basics How to Start a Business

Business Basics How to Start a Business

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Business Basics How to Start a Business

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Presentation Transcript

  1. Business Basics How to Start a Business Presented by the Central Ohio Minority Business Association & the Columbus Minority Business Assistance Center J. Averi Frost, Director Columbus MBAC

  2. This workshop will cover: • The Pros and Cons of Business Ownership • The Business Start-Up Checklist • Tools to Use • Tips to Remember

  3. The Pros and Cons of Business Ownership Cons You’re the boss You’re in control Less stress, flexible hours No limit to your success No limit to how much you can make! If there’s a problem, it’s on you. Start-up phases take time to complete You may not get paid for long periods Extra hours No guarantees your business will succeed Pros

  4. Business Startup Checklist • Select a Name and determine you Legal Structure • Obtain your Federal Employer Identification Number (FEIN) • Open a company bank account • Determine business location • Secure your website domain name and email addresses

  5. Business Startup Checklist • Obtain licenses and permits. Check the 1st Stop Business Connection • Set up an accounting and record-keeping system • Obtain Business Insurance • Systemize and Organize • Develop your Business Identity

  6. Tools to Use • Manta.com • The Ultimate Business Card Design Kit • DSA Financing Options • 1st Stop Business Connection • IRS Small Business & Self-Employed Tax Center • COMBA and the MBAC

  7. Final Tips • Take advantage of free and low-cost resources. • Use your time wisely, but take the time to get set up correctly. • Be creative in your approach, make yourself unique!

  8. Questions? To schedule an appointment to discuss starting your business, please call (614) 252-8005 To view more information about COMBA and the MBAC, click on the logos below!