You must also consider how you'll pay vendors, employees, and other payees. Be aware that small businesses experience a high occurrence of employee theft. Be sure to implement security measures in your accounting system. I saved this one for last because it is one of the most important ingredients, but probably the least thought about. Lawsuits are running rampant and with the increasing popularity of the Internet, legal issues are even more complicated.
Businesses close every day due to legal issues.
No business wants to endure a lawsuit, and most small businesses can't survive one. Even if you're found to not be at fault in a legal situation, you're still responsible for your legal fees. Fortunately there is a way to avoid this. Now there is a service available to small businesses that provides them the same access to attorneys and business professionals that large corporations have, without having to pay those outrageous fees. It provides small and home based businesses with unlimited telephone access to attorneys, debt collection, contract and document review, access to business professionals and consultants, and a host of other services.