Starting a Business
Some of the things you have to consider before you START a company are discussed here.
Not ALL ITEMS are LISTED - just the important ones...
Every company or business that one interacts with today began as a startup. The startup phase can range from 3 to 5 years for some, while it may be significantly longer for others.
We provide Two hours of initial consultation FREE of cost to you
It is Not Difficult to START a Company
Some Things To Consider
1. Incorporating a Company: If you are in the USA, should you establish an LLC, a S Corp, or a C-Corp? If you are developing something unique, do you require special permits? Do you need Tax ID numbers? Do you need a lawyer to do all of this?
If you are in another country, look at company formats like limited (Ltd.) or LLPs in the UK, or gmbH or AG if you are in Germany, or Private Limited (Pvt. Ltd.) if you are in India and so on.
2. Space considerations: Will you be leasing or building to suit? Is lab space available and is it reasonably priced? Note: We can help with identifying space near you that is reasonable and open for building labs or has existing labs.
3. Business Plan: This is important. What is it’s purpose? Who is responsible for drafting it, and which format should be followed?
Note: This is very different from writing a Grant proposal.
More Things to Consider
4. Technology Sources: Are you developing the technology? Are you licensing it? What are the associated costs of development versus licensing? If licensing - exclusive or non-exclusive license?
Note: We used the term “developing” technology because most startups require developing something that fits the market that they are trying to serve. Very rarely is something market ready.
5. Funding: What sources will finance your venture? Is funding in place? If so, is there enough? Grants, investors such as angel investors or venture capitalists are all sources of funding and so, should other funding options be explored and why?
And a few more........
We can make it easy for you!