By Beth Burnett
Many Americans are hoping fall will bring more than beautiful foliage. They are hoping it will bring a job. August unemployment numbers showed 259,307 more American workers losing their jobs.
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http://www.bls.gov/news.release/laus.nr0.htmThose who get laid off often entertain the idea of going into business for themselves. However, is a recession the best time to start a new company?
Members of the Oklahoma Society of Certified Public Accountants weigh in on an issue that
some of us are in the middle of, that
all of us should prepare for. They say that a recession may seem like a bad time to launch a company, but many people consider it a great option. Here are a few tips from the folks who say they know best.
Tip #1: If you have entrepreneurial ambitions, build a comprehensive business plan.
Tip #2: Make sure that you offer an indispensable product or service. Unless you've invented something new, be able to explain how your product or service will be distinctly better than any of your competitors.
Tip #3: Once you get the business established, make sure you keep solid records. CPA's say financial statements are a crucial element. They illustrate the track record of the business and they can project likely revenues and expenses for a company that’s just starting out.
About that business plan, where do you begin? Turn the page.
