Madison, IN Accounting Firm | New Business Formation Page | Sherman, Barber & Mullikin

Thinking of owning your own business?

Opening your own business is exciting and thrilling. It's everything that comes after the excitement and thrill have worn off that dictates whether a small business will make it or not. It's up to you to maintain and stretch out the "thrill and excitement" period forever.

A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful business. Success lies in the approach you choose to take. We help you avoid the common pitfalls that many new small business owners make when starting their new venture.

We help you...

  1. Prepare an initial business plan to clarify your marketing, management, and financial plans.

  2. Determine your start-up capital needs and identify sources of it.

  3. Select a business structure that best fits your needs by evaluating tax advantages, legal exposure, ease of operation and portability should you need to relocate.

  4. Prepare a Cash Flow Budget so you know exactly how much money you need to keep the business alive each month for the first few years. Unplanned cash requirements are always emotionally painful.

  5. Establish billing and collection procedures to maximize your cash flow.

  6. Prepare and file all required federal, state and local registrations, licenses and permits.

  7. Provide payroll and payroll tax filing when you bring on your first employee.

  8. Comply with employment laws so you don't get hit with fines and unhappy employees.

  9. Develop solid Corporate, LLC or Partnership Agreements. These are extremely important documents for new entities and can  help prevent a tremendous amount of legal, financial and emotional problems down the road.

Let us help you succeed by getting your new business off to a good, strong start.



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