Tips For Starting a Small Business Factoring Company

stages of larger factoring operations: startup, growth, and exit. The website states the material will help in the startup stage with the following: Formulate your business plan and budgets Provide and customize a policy and operations manual Locate Start-up Capital and Funding Set up your operation Build your website Identify the best vendors to f

If you are managing a small business, you must be able to print out the Net Income Statement, Cash Flow Statement, and Balance Sheet for the business every month and at the end of the year. A great bookkeeper can make this an easy task. Don’t procrastinate.

A helpful web page is provided by Capitol Services at www.capitolservices.com. On that site, click the Resources link, then the link named Links to State Websites. There you select any state from the dropdown field to go to that Secretary of State’s website’s UCC information.

Ask your attorney about usury laws and licensing requirements in your state (for example, in California you need to obtain a state lender’s license) and be sure your practices are in compliance. If your attorney doesn’t know the answers to these important matters, get a referral to one who does.