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Tips for Starting Your Own Business

• Research the industry to get a sense of how you’ll compare to competitors, and identify the competitive edge you’ll offer to make your new business stand out
• Write out your business plan which will serve as a roadmap for you -  defining the structure, layout of operations, and objectives that will eventually lead to success and growth
• Use your business plan to calculate how much you can personally contribute to funding your business, then explore borrowing options and backing programs 
• Choose whether your business will run as a brick-and-mortar location or online presence - this will impact many decisions you’ll have to make and must be decided in the initial stages of planning
• Register your business, obtain and pay for Federal and State Tax IDS, and any additional licenses or permits required to operate your business
• Establish a business banking account to track business-related expenses and stay legally compliant and protected