Jasmine's Place Issue No. 9 - January/February 2014 - Page 47

Many businesses fail because of lack of cash flow or working capital. A business plan will alert you to potential cash flow problems, which means you can look into funding before a crisis hits! You can use Business Plan Pro, Business Plan Template or any other software. Get advice from relevant government agencies. 3. Legal & Administration A limited company means your personal assets are safe in case something should go wrong but you will have more administration. . 4. Branding Now that you’ve found your product and written your plan, work on your branding: • Business name. linked with the domain name • Logo • Tagline • Your Unique Selling Point Corporate” colours You can pay a graphic designer to design a logo or you could use websites like http://graphicriver.net/ for logos. You’ll need to think of a company name. Search at your local c