The contractor and general construction business is still strong in Alaska. It may be a good time to consider developing a construction related business. Here are 5 tips to help you get started.
1. The Paperwork:
There is quite a bit of paperwork that goes into starting your own business, especially when you plan to employ people. In addition to a general business license, there may be certain licenses and permits required for the services your business will be providing to customers. You may also need bonds and insurance. Check with your local state business license department to find everything you might need to make your business successful and legitimate. Lastly, be sure to familiarize yourself with local construction and specialty contracting regulations to assure that you and your employees are properly equip and trained to do the job right.
2. Find a Trustworthy Mentor:
If you have someone you have always looked up to in your field of interest or someone that inspired you to start your own business, it would be wise to pick their brain and utilize their expertise. They may have advice on the “dos” and “don’ts” that could save you time and money. There are even local resources available to assist small business owners. With programs specialized in each field, programs for women and programs for veterans, there are plenty of ways to get the answers to all your questions. Some may even offer workshops and financing advice.
3. Secure Financing:
This step can be a hard one to overcome, but there are many options out there for a new business owner to obtain financing. Aside from a savings account or access to a traditional bank loan, there are ways to get the financing you need to get started with your new business. Other options include credit unions, community banks or a business line of credit. Try visiting BusinessUSA.Gov for information on financing recourses.
4. Hiring Labor:
This part can be pretty easy if you know what you want and where to look. Aside from hiring employees individually, small construction or small contractor businesses will often hire sub contractors, private contractors or labor brokers as well. Be sure to check your local laws for hiring the type of labor you require for your business.
5. Utilize the Internet:
There are a lot of online resources out there for small business owners; you just have to know where to look. A website called Construction Office Online offers free downloadable documents for timesheets, scheduling, invoicing and more. This tool can be very helpful for those starting out without a big budget for office help. Additionally, there are websites to help you compare needed software, read other blogs and find useful information from others.
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