Every year, many new businesses (Startups) are launched in Uganda, making Uganda the top most entrepreneurial country in Africa (Global Entrepreneurship Monitor (GEM) report, 2015). Unfortunately, more than 71% of newly launched businesses fail within their first or second year of operation.
Do you think of owning your own business?
Starting your own business is sensational, exciting and thrilling. However, this excitement vanishes suddenly should your start-up fail!
Do you want to run a successful startup and stretch the “thrill and excitement” period forever?
A strategic 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 select to take. At Apple Vision, we help you avoid the usual drawbacks that several new small business owners make when starting their new course into business.
We assist you…
- Prepare a business plan to clarify your marketing, operations, management, and financial plans.
- Determine your start-up initial capital investment needs.
- Identify sources of start-up capital and backup sources if needed.
- Evaluate and quantify your borrowing power so you know how much money you can get your hands on if needed.
- 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.
- Select the right accounting software by evaluating your budget, needs and hardware.
- 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.
- Establish billing and collection procedures to maximize your cash flow.
- Establish procedures to monitor and control costs.
- Prepare and file all required state and local licenses and permits.
- Provide payroll and payroll tax filing when you bring on your first employee.
- Comply with employment laws so you don’t get hit with fines and unhappy employees.
- Identify your business insurance needs.
- Develop a solid partnership agreement. This is an extremely important document for all new partnerships and will help prevent a tremendous amount of financial and emotional problems down the road.
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Let us help you succeed by getting your new business off to a good strong start