How to run the family business

today, many investors are concerned about the family business, after all, be your own boss, it sounds quite attractive, but want a good family business is not a simple matter, the small and everyone together to discuss this issue.

first, making the general planning of a business to business success, to do the preparatory work, is also a include your goals and needs to reach the target time frame > business planning. The main terms of business planning include:

1, the industry in which you operate, where the industry has prospects and how it will affect your business details.

2, market analysis and research: to ensure that there is sufficient demand for goods and services, so as to enable enterprises to survive.

3, land, buildings and equipment specifications, including local regulations.

4, the number of people required to hire.

5, including balance sheet and sales profit forecast financial plan.

6, the company is facing a summary of risks, such as rising raw material costs, how to eliminate or reduce the impact of risk. Before setting up your own company, you’d better consult an accountant and a financial manager.

achieve the establishment of small businesses need capital dreams. Of course, a family business enterprise will have some tangible business benefits, including low management fees and income tax cancellation of part (part of the rent or mortgage interest, property taxes, stock cost, equipment cost). However, you still need to prepare and operate the company’s funds. The quantity required depends on the type of business.

1, set up a home desk, computers, fax machines and commercial telephone lines.

2, service fees for professionals (e.g. lawyers or accountants).

3, supply, raw materials, inventory or samples (if sold).

4, suitable for family based comprehensive insurance, including from individuals, product liability to fire, loss, disaster protection, and even car, disability insurance.

5, bank service charges. This should be taken into account, unless you find a more cost-effective transaction.

6, registration fees.