Expert: Ed McFarland - 8/13/2004

Question
Hello Ed

    I have an idea for an Internet business, and was wondering when I should begin seeking the advice of an accountant.  Should I do so while still formulating my ideas, once I'm ready to start the business, or once it's started?  Your advice is appreciated.  Thank you.

Answer
First get as much free advice as you can.

Check out the resources from the SBA, SCORE, your chamber of commerce amd the local colleges that have a business department, often they run a small business development center. From these resources you can get the early accounting and legal direction you need.

Write out your business plan. If you need you need to raise significant amounts of capital you will need help early on. If you are trying to bootstrap the business, you can hold off for a while.

Good luck