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Section Six: Finances, Business Structures and Taxes

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A. Introduction - Preparing a Financial Statement

Local Resources are:

• Prince William Regional Chamber of Commerce Certified Public Accountants

Keeping track of your finances and proper payment of tax liabilities is essential to the successful operation of any business. A good software program may help you get up and running and there are several on the market that are user friendly and can set you on the right path:

Software:

• Peachtree Accounting Software
• QuickBooks Software
• TurboTax Software for Business, as well as Quicken and QuickBooks

Guides:

• Business Owner's Toolkit - Managing Your Business Finances, Basic Bookkeeping, Managing your cash flow and analyzing your current position
• Business Owner's Toolkit - Business tools and forms
• Business Owners Toolkit (Emphasize Proper Recordkeeping) - Legal Recordkeeping

 

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Business Start-Up and Growth Guide Menu:

  Select a Guide Section GUIDE COVER INTRODUCTION ACKNOWLEDGEMENTS ------------------------------------------------------------- SECTION ONE: SERVICE/PRODUCT STRATEGY A. Introduction B. Developing Your Product/Service Description C. Developing Your Competive Comparison D. Developing Your Equipment Description E. Developing Your Technology Description F. Developing a "Fulfillment" Description G. Developing a Pricing Strategy H. Developing a Description of Future Products and/or Services I. Sample Business Plans ------------------------------------------------------------- SECTION TWO: MARKETING A. Introduction: What's Marketing? B. Starting Your Marketing Program...Before You Hit the Pavement C. Researching Your Marketing Strategy D. Identifying Your Marketing Strategy E. Develop Your Marketing Plan -- Market Segmentation F. Improving Your "ROI" on Your Marketing Dollars G. Understanding Marketing Tools H. Understanding Market Segmentation I. Marketing to Consumers J. Marketing Through the Prince william Region's Chamber K. Marketing to Local Governments L. Marketing to the Commonwealth of Virginia M. Marketing to the Federal Government N. Writing Proposals O. Creating Your Marketing Materials P. Benefiting from the Small Business Administration Q. Receiving Assistance from Retired Business Executives Additional Reference Websites ------------------------------------------------------------- III. SALES A. Introduction: Sales Plan B. Targeting Customers C. Earning Consumer Satisfaction and Loyalty D. Dividing Sales Responsibilities E. Setting Sales Goals and Measurements F. Forecasting Sales G. Sales and Customer Relationship Managment Software ------------------------------------------------------------- IV. BUSINESS, PROFESSIONAL AND OCCUPATIONAL LICENSE A. Introduction B. Registering a Trade Name or General Partnership C. Registering a Corporation or Limited Partnership D. Complying with Zoning and Building Requirements E. Application Checklist F. Information for Contractors G. Special Trade Contractor H. Worker's Compensation I. Federal Taxes J. State Sales Taxes K. Food Establishments L. Alcoholic Beverage Importation and Sale M. Peddlers and Itinerent Vendors N. Pawn Shop Owners and Dealers of Special Metals and Gems O. Professional Registration License ------------------------------------------------------------- V. OPERATIONS A. Introduction B. Building Management Team and Staffing C. Choosing a Business Location D. Minimizing Utilities Costs E. Insuring Your Business F. Doing Business on the Internet ------------------------------------------------------------- VI. FINANCIAL A. Preparing a Financial Statement B. Business Structures C. Taxes ------------------------------------------------------------- VII. ADDITIONAL RESOURCES A. Introduction