The American dream reminds us that owning and operating a business can be rewarding, both emotionally and financially. However, the harsh reality is that most new businesses will fail within the first few years. To fight these odds, startup entities need fresh ideas, good marketing strategies, and must align themselves with top professionals.
In starting a business, there are many considerations that must be made. For example, has a proper business plan been drafted for selling the business’ goods or services? What business structure makes most sense from a liability, operating, and tax stand point – an S Corporation, a C Corporation, an LLC, a Sole Proprietorship, a Partnership? How will the startup be financed – capital contributed from owners or investors, debt from lenders, or both? Does a plan exist for maintaining proper recordkeeping, to keep the business in compliance with regulations, as well as for assisting management’s decision making? These are but a few of the important questions that must be answered before starting a business.
At Nazelrod & Associates, we assist our clients in setting up the proper entity to minimize taxes and operating costs, and to maximize flexibility and growth. Additionally, we assist in developing business plans and establishing banking and investor relations so that growth can be most effectively pursued. Further, we make sure that our clients start their businesses off on the right foot – from setting up and maintaining proper accounting records to meeting employees’ and owners’ expectations; from understanding the financial aspect of the business to complying with legal and financial obligations. At Nazelrod & Associates, we can help you boost your business’s idea into a successful venture.