First Steps to Starting a Business? | Farmers Financial Focus

YOUNGSTOWN, Ohio — Research is key to taking your first steps in starting a business.

Identifying competition, figuring out pricing for goods and services, and coming up with a strategy to show why your product is better than that of the competitors must all be considered when starting a business, says Andrew Estock, director of commercial banking at Farmers National Bank. In this installment of the Farmers Financial Focus, Estock reviews the first steps any entrepreneur should take.

“Try to surround yourself with some good, trusted advisers,” Estock says. “When it comes to financing, it may be your banker, it may be your accountant, obviously an attorney if there are things you need to do on the legal side.

“But try to corral those people that complement your skillset as an entrepreneur,” he continues.

For more on taking the first steps to entrepreneurship, watch the video above. Estock answers questions such as:

• How do I choose a business name?

• Where do I go to register my business name?

• Do I need permits for my new business?

• What are some common mistakes made by new business owners?

• What are the different types of entrepreneurs in small business?

Copyright 2024 The Business Journal, Youngstown, Ohio.