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Problem: Steps of starting a business Learning Objectives: How to maintain finances? Choosing a business format and pros and cons? How to make a good business idea? Why to become an entrepreneur? Keywords: Business idea finance Swot analyses Business plan Start up Motivation Angel investor Investment How to maintain finances? Bookkeeping. Credit card merchant account. Online payment services ( Stephenson, J. 2018.) Choosing a business format and pros and cons? Sole proprietorship: Headed by one person; pros, it’s the easiest to start up, no costs to create the business, and net business losses can be deducted from your personal taxes Cons; you are personally liable for debts and other liabilities as the owner, and you pay personal income taxes on your business’s net profits General partnership: owned and operated by two or more individuals. In the general partnerships, all partners manage the business and assume responsib...