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POINTS TO CONSIDER WHEN STARTING THE BUSINESS

 Many business personnel prove failure in their Business due to the lack of the crucial knowledge or map on their Business start ups, here down are some of the steps which are crucial for any business personnel to follow before he/she starts the business.

Step 1: write business plan
Use tools and resources to create business plan. the business plan will help you to map out how you will start and  run your business successfully.

 Step2:Get business assistance and training.
take advantage of free training and counseling services from preparing business plan and securing financing for relocation of business.

 Step 3: Choose the business location.
Get advice on how to select customer-friendly location and adhere to the laws and regulations of the area.

 Step4:Finance your business
Here try to  find source of fund  to help you to run your business, research grants may be useful to get you started with your business.

 Step 5:Determine the legal requirement in relations with your Business
Decide which form of ownership is best for your business,it  can be partnership,limited liability Company,corporation,Non profit and cooperative.

 Step 6: Register a business name
Register your business name according to your government laws require.

 Step 7: Get Tax Identification Number(TIN).
 Learn which tax identification number you need to obtain from your state revenue agency. for example in Tanzania, where  a business personnel can get a TIN is only at Tanzania Revenue Authority(TRA).

 Step 8:Register for State and Local Taxes.
Register with your state to obtain a tax identification number workers' compensation, unemployment and Disability Insurance.

 Step 9:Obtain business licenses and permit.
Business differ in licenses of operation  so as you start your business try to get the licenses which correspond with the nature of your business you are about to run and not other wise.

Step10: understand employer responsibility.
As the employer understands the major responsibilities of employer like making sure there is the good working atmosphere for your employee,salary payments, employee safety etc.

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