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Launching a Business by Bruce Barringer

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Chapter 4

Bookkeeping and Financial Management

Introduction

Another important prelaunch task is to establish your bookkeeping ­system and a financial management structure for your business. The main topics discussed in this section are shown later in the chapter. Again, the First 100 Days Plan focuses on the nuts-and-bolts aspects of starting a business, so the items discussed include the mechanics of setting up a business’ financial management structure, rather than how to obtain financing. In particular, it’s important for a business to have a good handle on its start-up costs and set up a bookkeeping system. It’s also important to get up to speed on taxes and have a payroll system in place if you plan to hire employees.

Step 1

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