OT contracting and incorporation

[phiscock-g851W1bGYuGnS0EtXVNi6w at public.gmane.org]

> A business plan is not needed for incorporation but you do need to know
> what you intend on doing. A business plan also doesn't have to cost a
> lot. It can be a spreadsheet showing the expected cash flow and
> financials for the business so that you have an idea what it takes to
> break even or make money.

I used to be skeptical of the value of business plans but we were forced
into it to apply for a government grant. There are some excellent
tutorials and guides on the web that I used to fulfill this requirement.
We did get a very small grant but the business plan turned out to be
invaluable because it forced us to confront some thorny questions on the
objectives and methods of the proposed business.

For example, it forced me to research the markets thoroughly and that
turned up some interesting statistics.

So a business plan might be a good idea - irrespective of whether it's for
sole proprietorship or corporation.

Peter


-- 
Peter Hiscocks
Syscomp Electronic Design Limited, Toronto
http://www.syscompdesign.com
USB Oscilloscope and Waveform Generator
647-839-0325

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