First Steps

 
 

Once you have completed the business plan and established the course to be followed, you will be ready to take the first actual steps to establish your business.

Now is the time to think about the physical and work-related business infrastructure, contact potential suppliers, and choose your support team, which may include your banking institution, an insurance firm, an accountant and an attorney.

You must also obtain all the necessary permits for your business, a task that any business person in Puerto Rico will tell you is not an easy one, and usually takes more than the scheduled timeline.

During this stage you will begin to evaluate the employees that will be working for you, if necessary and feasible at this early stage. Despite the high unemployment rate in Puerto Rico, finding the ideal, responsible and committed employees is not a simple process.

In this section we offer helpful advice to improve your starting position for your business race.
 

What type of company should I establish?

The type of legal structure that you decide to use for your business will have important repercussions in terms of taxation, liability and cash and earnings management...

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Selecting your ideal support team

Your support team will be an essential part of your new company’s success. You might be an expert on your business field, or perhaps you have...

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