Success Lifestyle Magazine Issue 8 - April 2020 | Page 61

What advice would you give to novice entrepreneurs? Validate what you’re doing. Evaluate your business idea, survey the market and verify whether people will be willing to pay you for your product or services. In other words, your business must make sense for the market you’re trying to serve. Find a solution to a common problem. The uniqueness of your brand is what will help you truly stand out in a crowded marketplace. You build this uniqueness through finding a solution to a common problem that differentiates you from solutions that already exist. Register your company. Formalize your company early so that you are able to take advantage of grants and money that the government and other . institutions provide. Get your copy of The Business Playbook:A Guide for Jamaican Startups to learn how. Click here Always file your taxes! People tend to shy away from registering their businesses because they don’t want to pay taxes. There are numerous benefits for paying taxes and the government has offered incentives to help small business owners pay less taxes. Read about one of the incentives by clicking here. Always file your taxes even if you’re not making a profit. Learn more about the benefits of filing taxes by purchasing a copy of The Business Playbook: A Guide for Jamaican Startups. Click here. How can people purchase your products and contact your company? Visit www.herboobotanicals.com or any supermarket or pharmacy islandwide. Issue �: April ���� ��