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What is required to start a business?
We strongly urge our clients that before they start a new business, they should have a good understanding of the business with preferably a written business plan. In addition, they should have a good understanding of the economics of the business, experience in the business or a related business, and perhaps most importantly enough money to cover the business expenses until it makes a profit. If you cannot pay your bills, no matter how great the business idea or concept may be, it will not succeed, unless its bills are paid. We encourage our clients to find an accountant who they feel comfortable with and to consult with the accountant about the financial issues involved in operating a business, including the tax issues that would be related to the operation of the business. Many times, an accountant can assist with the decision as to which form the business should take.