Running a company for the first time?

K

kenny1999

Member
Hello

I am planning to start a small company of my own that will provide service in my specialized area.

In general, in a broad sense, what do I have to do and have to take care of ?

I never run a company before and worked most of the time for the other.


btw, What is the importance of accounting for a company??
 
Don't even bother with thinking about a company yet.

Simply provide your service to your area and get your name out so that you get a steady flow of business.
Eventually, you'll build a demand for your service beyond your own capabilities and that's when you look into getting permits and a tax id and all that so you can get an office and hire staff and whatnot.

The take away here is to start making money first. The company will grow on its own out of necessity.
 
I have my own registered business, and what Troncoso said is correct. After I graduated from a vocation school as a Technical Editor/Writer, I advertised my services locally and internationally. When the money started flowing and I began to make a steady profit, which took about a year, then I went and got my business license and registered as a company.

After you have created a steady client base, accounting is something you will have to consider. I do all my own accounting, and that is because I am the only one in my company. If I had employees, and I didn't have the time or the expertise, then I would consider hiring an accountant.
 
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