Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    Only $11.99/month after trial. Cancel anytime.

    How to Start up a New Business
    How to Start up a New Business
    How to Start up a New Business
    Ebook88 pages1 hour

    How to Start up a New Business

    By Dr Jim Porter

    ()

    Read preview

    About this ebook

    Entrepreneurs Brief Guide - This e-book consists of six “Entrepreneurs Brief Guides”, addressing all you need to know about starting a new business. It contains independent and practical advice for entrepreneurs and small to medium sized businesses (SMEs). Designed to help your business achieve its daily objectives of acquiring and retaining customers, this guide is invaluable to any start up company and small business owner.

    Learn how to: (a) Form a Business, (b) Research Your Market, (c) Develop a Business Plan, (d) Hire the Right Accountant, (e) Become a Franchisee and (f) Finance Your Business

    LanguageEnglish
    PublisherDr Jim Porter
    Release dateMar 7, 2012
    ISBN9781466062160
    How to Start up a New Business
    Author

    Dr Jim Porter

    Dr Jim Porter is a chartered engineer, qualified to a PhD level from London University, with more the 25 years business experience. He has worked for several multinational companies in Europe and the USA. His experience stretches from new products development, project management, new business building, profit and loss responsibility, to the creation of several successful joint ventures and acquisitions.Currently, he is a senior executive, responsible for strategy development and growth initiatives, including partnerships and new businesses building. Dr Porter is particularly interested in business incubation, helping entrepreneurs and start up business owners to achieve their personal and business objectives.Dr Porter is the author of several publications, including a book titled “How to bake your business idea and eat it”, and the creator of “Entrepreneurs Brief Guides” series.Dr Porter is a Fellow Member of several professional organizations and institutions in Europe and the USA. He can be contacted on his email TheJimPorter@gmail.com .

    Read more from Dr Jim Porter

    Related to How to Start up a New Business

    Related ebooks

    Small Business & Entrepreneurs For You

    View More
    View More

    Related podcast episodes

    Related articles

    • Article

      Forming A Limited Company

      Feb 6, 2020

      Forming A Limited Company
      3 min read

    • Article

      Business With A Purpose

      Dec 12, 2018

      THE MOST SUCCESSFUL entrepreneurs are driven by something more than revenue or profit margin. For Ruben Gutierrez, founder and CEO of VRG Components, a global supplier of electronic components, the driver is his past—and his desire to help others bui

      2 min read

    • Article

      Solve It In 7

      Sep 3, 2020

      So, you want to start a blog? Great idea! But with so many amazing creative blogs out there already, how do you make yours stand out? How do you get people returning for more, and how do you build a loyal following? Experts at employment agency Reed.

      2 min read

    • Article

      Business Options: Which Structure For You?

      Apr 22, 2020

      Should you trade as a company, partnership or sole trader? Your choice depends on the number of business owners, whether you require investors, or want to sell the business in the future. The level of expenditure and financing required are other con

      1 min read

    • Article

      What Structure Should I Choose For My New Venture?

      Apr 1, 2020

      Congratulations if you’re one of the thousands joining the ranks this year of Australia’s 2.1 million-strong small business engine room.  Hopefully you’ve completed your research and there is a viable market for your widget or service, with the poten

      5 min read

    • Article

      There's a Way to Serve Your Business and Save on Taxes If You Think Big

      Dec 14, 2018

      It's the year-end tax-savings rush, which means there's a lot of advice floating around about how businesses can best take advantage of the Tax Cuts and Jobs Act signed into law last December. It famously cut the corporate tax rate to a mere 21%, alo

      3 min read

    • Article

      4 Potential Problems with Equity Compensation, and How to Solve Them

      May 1, 2021

      Non-cash compensation might not sound like a very good deal for you as an employee — but depending on the type, it can actually provide quite a boost to your net worth over time. Equity compensation is a type of “non-cash” comp that your company may

      4 min read

    • Article

      The Start-Up Dilemma: How Entrepreneurs Can Thrive in Today's Economic Climate

      Dec 17, 2019

      With economic uncertainty continuing to rise, the American entrepreneur may feel discouraged when it comes to starting, owning or running a small business. There are a multitude of factors that play into these feelings of doubt, such as the probabili

      4 min read

    • Article

      Growing Your Business

      Mar 25, 2022

      Growing Your Business
      2 min read

    • Article

      Your Questions Answered

      Jan 30, 2021

      I want to save R500 a month regularly, adding to it as I can. I don’t think I will need this money for at least 10 years, as I am hoping to build up a nest egg. Is a tax-free investment the right choice? Name withheld Magdeleen Cornelissen, a financ

      4 min read

    • Article

      Your Questions Answered

      Jan 30, 2021

      I want to save R500 a month regularly, adding to it as I can. I don’t think I will need this money for at least 10 years, as I am hoping to build up a nest egg. Is a tax-free investment the right choice? Name withheld Magdeleen Cornelissen, a financ

      4 min read

    • Article

      Your Questions Answered

      Jan 30, 2021

      I want to save R500 a month regularly, adding to it as I can. I don’t think I will need this money for at least 10 years, as I am hoping to build up a nest egg. Is a tax-free investment the right choice? Name withheld Magdeleen Cornelissen, a financ

      4 min read

    • Article

      Your Questions Answered

      Jan 30, 2021

      I want to save R500 a month regularly, adding to it as I can. I don’t think I will need this money for at least 10 years, as I am hoping to build up a nest egg. Is a tax-free investment the right choice? Name withheld Magdeleen Cornelissen, a financ

      4 min read

    • Article

      For Business Owners, It's a Seller's Market

      Mar 29, 2018

      There may be no better time than now to put your business on the market. Due to the recent tax law changes, potential acquirers have more capital to invest and more capability to grow. As a seller, the current economic environment provides ample oppo

      4 min read

    • Article

      Navigating The Rocky Road

      Jan 20, 2022

      Navigating The Rocky Road
      3 min read

    • Article

      Retirees' Guide to Do’s and Don’ts of Business Partnerships

      Jan 11, 2021

      When first cousins Peter Guidi, 60, and JJ Mokarzel, 62, decided to launch a bourbon company, Joe Louis Spirits, in Old Orchard Beach, Maine, they each drew from experiences with prior partnerships to structure their business. Both men knew they need

      5 min read

    • Article

      You’ve Just Sold Your Business for Millions. Now What?

      Oct 21, 2021

      For the past three years, I’ve helped approximately 20 business owners develop a financial plan for their wealth after selling a business. It may seem paradoxical, but I’ve found that managing their wealth after the sale is often more complex than wh

      4 min read

    • Article

      Put More Money in Your Pocket in 2018 with a Basic Employee Benefit Checkup

      Jan 30, 2018

      It's a new year, but you aren't making any financial resolutions. It's already a habit with you. You're smart, savvy and you pay attention to all the personal finance advice. You're reading Kiplinger's. You're clearly more engaged than the average be

      3 min read

    • Article

      Is Your Company Ready for the New Partnership Tax Audit Rules?

      Jun 26, 2018

      Partnerships are one of the most commonly used business and estate planning tools, and they come in a variety of wrappers or names, such as traditional partnerships, multimember LLCs, joint ventures, limited partnerships and limited liability partner

      4 min read

    • Article

      Most-asked Investment Questions And Answers

      Oct 28, 2022

      GETTING STARTED with investments can seem like a daunting prospect. Figuring out how much money you need to begin, what to invest in, when to buy and when to sell - many of us end up thinking it’s better left to the professionals. That’s not true, th

      3 min read

    • Article

      PPP Tips: 6 Things to Discuss with Your Accountant Now

      Jul 20, 2020

      I feel for the owners of small and midsized businesses right now: They are like sailors facing headwinds and choppy waters of a very tough business environment with very little visibility, and the survival of their business at stake. Many sought a li

      4 min read

    • Article

      Getting A Pay Raise In 2020? Here's How To Make The Most Of It

      Feb 3, 2020

      With many companies experiencing strong profits and the S&P 500 gaining 31% in 2019 including dividends, many professionals, executives and senior-level managers are getting well-deserved raises in 2020. But be careful. With each new pay raise, peop

      3 min read

    Related categories

    Reviews for How to Start up a New Business

    0 ratings

    0 ratings0 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words

      Book preview

      How to Start up a New Business - Dr Jim Porter

      How to Start up a New Business

      Entrepreneurs Brief Guide - Volume 1.1

      Dr Jim Porter

      This e-book consists of six Entrepreneurs Brief Guides, addressing all you need to know about starting a new business. It contains independent and practical advice for entrepreneurs and small to medium sized businesses (SMEs). Designed to help your business achieve its daily objectives of acquiring and retaining customers, this guide is invaluable to any start up company and small business owner.

      Learn how to:

      Form a Business

      Research Your Market

      Develop a Business Plan

      Hire the Right Accountant

      Become a Franchisee

      Finance Your Business

      Copyright

      How to Start up a New Business

      Dr Jim Porter

      .

      Revision: SW.01.1.001

      Copyright © 2011 – All Rights Reserved.

      Smashwords Edition

      This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please purchase your own copy.

      Thank you for respecting the hard work of this author.

      No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means without the written permission of the author.

      ISBN: 978-1-4660-6216-0

      Publisher: Smashwords, Inc.

      Chapter No. 1: How to Form a Business

      Having made your decision to start a business, you must look into some legal requirements for the start up, such as the kind of ownership you are looking for, the name/title of the business organization and your relationship with your partners.

      Learn How To:

      Choose the right business legal form

      Maintain working relationships

      Select a name for your business

      Deciding on the most appropriate legal structure for your start up business is critical step, as it could impact the degree of financial risk you are exposed to, the control you maintain over your business and the level of expected daily administration activities.

      Having made your decision to start a business, you must look into some legal requirements for the start up, such as the kind of ownership you are looking for, the name/title of the business organisation and your relationship with your partners.

      The Legal Form to Be Adopted

      The following are the main choices you can consider for the legal form that can be adopted for your business.

      If you are the sole proprietor of your business, you are self-employed and have no legal structure to adhere to.

      In the case of a partnership, two or more business partners will work with you and will share the profits and losses equally.

      There is also a limited company type, in which the business is a separate legal entity. In this, the business is distinct from its directors, shareholders and employees. Unlike the other two, in this type the business can sue or be sued separately from its owners.

      A limited partnership liability could be said to be a mixture of a partnership and a limited company. In this type, the partners have a limited liability and the business can run even with the resignation or death of its partners.

      These days, other forms of business such as Co-operative Societies and Company Interest Societies have also become quite widespread. However, once you have adapted a certain legal form, it is still possible to change it although it will require a lot of investment in terms of time and finance. If your business has re-registered with VAT, you must inform your local VAT office within a 30 day time period. The other legal requirement for the change can be checked with your legal and accounting departments.

      Sole Proprietorship

      A sole proprietorship is when the business is owned and managed by a single person. Many new start-ups prefer to have a sole proprietorship as it comes across as the best and most feasible option.

      The advantages of a sole proprietorship are as follows:

      Setting up the business is very simple and can be quickly done by just registering your business with the VAT, tax and other concerned authorities.

      Your gross tax payments will be lower compared to other forms

      Enjoying the preview?
      Page 1 of 1