As some previously employed professionals seek to offer their services, they must come to grips and understand and respect their own limitations and the need for strong support services. These support services normally include; the development of a creative and detailed business plan to address all foreseen aspects towards operating a successful practice, the setting up or establishment of a legally registered entity to offer personal protection to all stakeholders, the design of a marketing plan to communicate and promote the business and the periodic reporting on and filing of financial statements.A professional in management services, with specific skills and experience in writing comprehensive business plans, must be contracted and paid to develop your business plan. Expert knowledge of the various types and styles of business plans, designed depending on the required usage, must rule the process. The main objective of any business plan must be to foresee any and all difficulties and situations (no matter how improbable) that may bring undesired results, create innovate solutions and actions to form policy, guide implementation and bring operational success.
A professional in corporation and taxation law, with experience in the registered jurisdiction and intimate knowledge of its corporation act, must be contracted and paid to legally register your company and file its legally mandatory statements periodically. A specialist understanding of the various categories and methods of corporate entities that offer the best protection to stakeholders, the most up-to-date taxation requirements and any other compulsory reporting, is necessary.
A professional in marketing, with specific abilities and experience in creating and implementing comprehensive marketing plans, must be contracted and paid to develop your marketing plans. Trained specifically in corporate imaging, for example, designing logos and stationery, developing a message and its delivery system, brochures and other promotional materials for specific uses on particular mediums, is essential.
A professional in accounting, with specific knowledge to eliminate over payments of various taxes and extensive training in costing and pricing, must be contracted and paid to compile your company’s accounting system. An understanding of the different groupings and techniques of associated accounts that offer the best protection to stakeholders, returning capital appreciation and the most prudent detailed financial information to guide management decisions and supplying the consolidated data for legally mandatory statements.
Specifically if your business is in the professional service sector (Engineering or Maintenance), and itself works on short-term contracts, once the company has paid for a five-year business plan to follow and has paid for its incorporation and learning how and when to meet its legal obligations, once the company has paid for its imaging with its message and promotional materials and has paid for an accounting system, the company’s success fully depends on its core service. If your business is in the manufacturing or trade sectors and work is constant, these support services need to be in-house.
Rationale
T.A.J & Associates Company Limited uses this occasion to comment on topics that have been covered, both academically and by the mainstream media, to add its opinion and point out investment opportunity, not to invoke any social action.
