5 tips on how to start a business

Setting up a company and being your own boss is the dream to which many Argentines aspire.

5 tips on how to start a business

In this case, a dream that, although not easy, is perfectly achievable. In this article we give you 5 tips on how to start a business in our country, with advice at the level of attitude, bureaucracy and financing, where the loans in the act play a fundamental role, as we will see.

Analyze and inform yourself of the market

One of the basic rules of every entrepreneur is “do not get involved in a sector that you do not know”. It will generate insecurities, make you make mistakes (errors are allowed in all areas of life and the economy, but in fair measure) and, above all, limit your ability to make decisions. Therefore, it is essential that you know the market in which you are going to operate, either by training or by previous experience.

In this sense, you can resort in a complementary way to the advice of experts , who will advise you on the steps to follow and on the approach you have to give to your activity. They will elaborate the corresponding reports, they will alert you of the possible risks and they will help you in the first phases of the process.

Develop a business plan

Your new economic adventure must be, first of all, a controlled adventure with a network. That is, you have to think to the last detail and anticipate crisis situations, which you must face with guarantees. All this must be included in a fundamental document: the business plan, which includes everything related to your new company. For example:

  • Current situation of the sector
  • SWOT Analysis (Weaknesses, Threats, Strengths and Opportunities of your future business), always from a truly realistic perspective
  • Budget : money available, money that can be obtained through financing and estimates of sales income or service provision in the early stages of the business.
  • Material and human resources : office furniture, vehicles necessary for the development of the activity, size of the workers’ staff that will be necessary to carry out the work, etc.
  • Marketing plan : essential to publicize the company and make it grow, both in its early stages and later. Investment in marketing must be constant and a central axis of the company’s sustainability
  • Many other aspects

The business plan is a fundamental and complex document. There are numerous models and examples available to you on the Internet, but it is recommended that you resort to the services of experts for its preparation.

Perform the relevant bureaucratic procedures

In this business plan you can also indicate all the bureaucratic procedures that you have to carry out to start your business. Depending on the province in which the company will be registered, the procedures are broader or simpler. But in all cases, there are three institutions that are part of this process: the AFIP , a judicial body to control the legality of the company (usually the General Inspection of Justice ) and the provincial directorate .

Financing: how to start a business with money loans

One of the fundamental aspects for those who want to know how to start a business is, logically, to obtain the necessary funds for it. In general, you can get them in several ways:

  • Personal savings : inheritance or capital obtained through years of work.
  • Public subsidies : either through competitions, financing by public institutions or non-refundable money grants .
  • Bank financing : for large amounts of money.
  • Online loans : an increasingly popular way.

In relation to this last method of financing, that of quick loans , it should be noted that they have become not only a personal solution but also a totally valid tool for professionals and companies. Its main reason: they provide money instantly and can be used in any aspect related to the business, without giving explanations or justifications. This makes them an unbeatable aid in the early life of the company, when there is usually a greater need for liquidity in cash and treasury. You can get up to $ 5000 at the moment, to return in a period that you decide: between 1 and 30 days .

Advance with small steps

One last piece of advice on how to start a business is to move forward with small steps, without hurry but without pause. The ideal is to set small goals , both for its short period of achievement and its simple realization. And go overcoming them. That will give you confidence, while ensuring the sustainable growth of the company. A serious mistake would be to start the activity with great expectations and big projects based on illusion and an excessive optimism. Do not commit more money than you are sure you can recover and do not spend more time than you can dedicate to your new economic adventure.