Hattiesburg, MS CPA Firm | New Business Formation Page | McArthur, Thames, Slay, and Dews PLLC

Thinking of owning your own business?

Opening your own business is exciting and thrilling. It's everything that comes after the excitement and thrill has worn off that dictates whether a small business will make it or not. It's up to you to maintain and stretch out the "thrill and excitement" period forever.

A methodical 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 choose to take. We help you avoid the common pitfalls that many new small business owners make when starting their new venture.

We can help as you begin to think about...

Initial financial plans.
Determine your startup capital needs.
Identify sources of startup capital and backup sources if needed.
Evaluate and quantify your borrowing power.
Select a business entity type that best fits your needs.
Evaluate tax advantages, legal exposure, and other applicable elements.
Select the right accounting software and hardware that fits the budget.
Prepare a Cash Flow Budget.
Establish billing and collection procedures to maximize your cash flow.
Establish procedures to monitor and control costs.
Setup a home office so you can maximize your tax deductions.
Prepare and file the required state and local licenses and permits.
Prepare and file the application for a Federal Employer Identification Number.
Provide payroll and payroll tax filing when you bring on your first employee.
Identify your business insurance needs.
Develop a solid Partnership Agreement or appropriate business agreement.

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