how to open for business

there are many ways to open for business. you could guess and fail, or you can go with the right way. state your business, figure out the type of business you would like to own. come up with a plan: details about your business, potential customers, competitors, and financing. incorporate or don't: register your company's name with the secretary of state in the state where you base your business. you will need to choose a business structure, which will affect how much you pay in taxes every year. three basic structures: corporation, partnership, and limited liability company. the crucial step is find funding: you can use your own money, traditional bank loan, friends and family, applying for grants, and angel investors. angels invest significant amount of money in start-up businesses, in exchange for a piece of the business and a role in its development. lastly, run with it. getting a business off the ground is the hardest step. promote and sell your goods or services, choose the right people to help you manage, and put in how much time it will take to make your business a success. studies show that in 2006, half a million small businesses were closed.