If your business requires an investment identify the source of funds. You can use 3 ways to finance a new business: personal savings, loans, or services of investors. It is better to start small using your own savings and do not worry about debt repayment. You must become an expert in savings and engagement material.

You should be familiar with specific information. Spend a few days studying the material on the types of home business. Check out special editions in foreign languages. Carefully consider all the manuals.

Check the limited local governments. If you live in an apartment building specify the rules for the use of living space. Make sure the home business is not contrary to these rules. Nevertheless, it is necessary to ask what restrictions there are in your residential complex.

You must choose a name for your business. According to statistics, the chosen name for a successful business can increase the number of customers and therefore sales, up 50 percent. Take the name with care.

Now you need to make the business – plan (it is necessary in many cases – for example, to search for investors). A good business plan can organize your thoughts and set the action. Business – plan must provide:

– What are you going to sell
– Your training and qualifications
– Prospective customers
– Way to attract the customers
– What materials are needed to create business
– How do you plan to advertise
– What are the costs necessary for the creation of the company.

Obtain licenses and permits. Depending on your business you may need a license or special permit to operate. Call the local tax authorities and ask if you need a license. For example, if you’re going to have to deal with food – in your area may have restrictions and special rules.

Open bank account for the operations. It is important to choose the right bank. Here we pay particular attention to this. If you are self – employed you can use your savings account. But this is not always the best solution. Perhaps other commercial banks will offer a much more advantageous or more convenient service. Choosing a bank for your business, find one that the best suits your needs. Determine what kind of operation you will perform. Talk on the phone with managers of local banks. Carefully selects. Do not take a decision only on the basis of geographical proximity! Geographical location is not the most important factor.

Select the bank where you will find the best attitude to the customer. Be confident. Remember: The bank and office work for you. The better you know bank employees, the more closely they would react to the needs of your business.

Do not forget: the banker to whom you refer to solve their financial problems is a specialist in its field. In business, every employer or employee are experts in particular a number of problems. In its dealings with business people, do not try to show that you know the issue better than they are.

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