Start Wisely

Did You Know? 

Most  businesses fail in their first 3-5 years because of insufficient information on what it takes to succeed.. 

If you're planning to start your business or have just begun to operate and have questions or concerns, then this section is expressly for you. 

Use our 3 step process to Start Wisely.

  1. Become an NW-NJSBDC Client

  2. Sign-up for our Start Wisely on-line program

  3. Complete assignments; book regular appointments

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Do you have what it takes?

Complete our on-line quiz & find out the likelihood of becoming a successful entrepreneur.

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Pre-Venture

Haven't yet begun or just a concept

  • Define your business, product and/or service

  • Evaluate your disposition, skills and resources

  • Evaluate the market needs, trends & success factors

CreateYour Legal Entity

Set-up proper business structure

  • Select your legal structure

  • Choose a good name; reserve URL to match business name

  • Register your business; set-up for sales/income taxes

  • Comply with laws/regulations governing your type of business

Select Location

For both bricks-&-mortar and on-line businesses

  • Even internet businesses need an electronic location (URL)

  • Select on basis of traffic patterns, desirability for customers

  • Make sure restrictions/regulations aren't impediments

  • Assess cost of doing business from that location

Consider Financial Requirements

Know both personal & business needs

  • Both personal & business finances matter; know credit ratings

  • Draft Business Plan; choose appropriate methodology

  • Select optimum capital arrangements, self-funded, debt or equity partner

  • Understand lenders'/vendors' criteria for financing

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So why do I need a
Business Plan?

You've heard that:

"To fail to plan is a plan to fail".

Well, that's especially true when it comes to business. Check here to find what you need.

Do you know what it takes?

Well, we've designed an on-line program just for you with presentations that every budding entrepreneur needs to know. We've couple it with our online Advisor program so you can get the info you need from the convenience of your home or office.

There are 9 Lessons in this webinar series. Don't miss a single one. They are all necessary to understand your federal tax obligations:

   1. Federal Taxes & Your New Business
   2. Schedule C & other small business tax forms
   3. Filing & paying your taxes electronically
   4. Important info for home-based businesses
   5. Setting up a retirement plan for you & your employees
   6. Federal tax requirements for employees & contractors
   7. Payroll withholding requirements for employees
   8. Tax deposits & filing reports for payroll deductions
   9. Hiring non-citizen employees who are living in the US

 
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