If you have a strong background in contraction and want to spread your wings to become an independent contractor, this article is for you. We've put together the most vital information that you must take into consideration before starting your own business below.
1.Naming your business
I always say that a business name must be simple and memorable. Come up with a name that be in alignment with the type of services that you will be rendering to your clients for example - Injabulo Construction. It's a name that comprises of your name and what the business is about.
2.Structure of your business
Now that we've come up with a name it's time to choose a solid structure to build our business on. There's different types of structures that you might choose which includes a sole proprietorship, a partnership or an S-Corp. For the purpose of this article we are going to stick to the widely used and adored one - a Limited Liability Company (LLC). It's important that you educate yourself about what this business structure entails about the operations or your business. What i like about it is that, should anything go wrong - your personal assets will not be used as a cushion to make up for the companies mistakes.
3.Open a business account
Your personal money must be separated from your business finances. It's recommended that you open a business account that is going to be solely designed for business transactions. This includes payments, tax implications and even outsourcing services. Take note of the various interest rates and features that are offered by banks before committing.
4.Advertising your business
People need to know that you have arrived and they can rely on you. The best way to do this is through social media, creating a business website or word of mouth. A lot of individuals battle with coming up with a strong marketing strategy for their business. If you feel like it's too much for you, remember that you can always outsource a professional that will help you get the gist of things.
That brings us to the end of our article today. We really hope that you've found this informative and useful. For more articles juts like this one published daily, make sure that you follow us and never miss out.
Content created and supplied by: ShakersAndMovers (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More