Owning a business is both exciting and intimidating.
With SCORE, you have lots of support. Browse these tools and find resources to help you make decisions on starting or growing your enterprise. Your SCORE mentor can assist in putting your ideas into action.
A balance sheet is one of the three primary financial statements used to monitor the health of your business, along with your cash flow statement and the income statement. Think of it as a snapshot of your company’s financial position — what you own and what you owe — at a singular point in time, like at the end of a month, quarter or year.
When starting a corporation, you must decide whether to authorize and issue stock to your shareholders. Many entrepreneurs are surprised to discover there is more than one type of stock and that different stock classes come with their own unique benefits and disadvantages.
Creating a new business can be a tough journey. Doing so while working full-time may seem tougher, but this route actually offers several benefits. You can continue earning money to put towards your startup. But even if you only work an hour a week building your company, you still need a business plan.
Before you start contacting local angel investors, you should understand what they look for, so you make sure you are approaching the right angel groups and providing them with the information they need to make a “go” investment decision in your small business.
Angel investors get their name from their supportive nature. Instead of expecting an immediate return on their investment in a new business, angels instead take a percentage of the company, later enjoying the profits from their investment as the company grows.