If you’ve compared all the pros and cons, weighed all of your options, had a look at our post on ‘Starting a business for beginners’, and you’ve decided that you still want to start a business – now would be the best time to start getting your business off the ground.

  1. Set it up

Start by figuring out where you’d like to run your business from. If you’ve decided on starting your own medical practice, let Nedbank help you finance your equipment. We’ll even throw in an overdraft facility, just in case. 

  1. Do your projections

Research how much the day-to-day operations of your business would cost, and how much revenue you may receive based on what services you want to offer. Find ways to keep your expenses low, especially during those initial startup stage.

  1. Get partnered up

When starting a business, it’s important that all your legal documents are reviewed. Get in touch with an attorney to help you with this. Find out whether you’d need an accountant or bookkeeper to help you with your tax and other financial admin. Seek professional banking services from Nedbank Professional Bankings.

  1. Seek advice

Seek a mentor or professional expert who can provide valuable advice to help you on your way. Find out how you can manage your expenses, including UIF, medical aid payments and insurance. Explore options for point-of-sale devices in the likelihood that your business or practice may need it. Never be afraid to ask questions – in the world of business if you’re learning, then, mate, you’re earning! So learn as much as you can about the different business functions and how you can manage them.

https://www.entrepreneur.com/slideshow/299446#3

https://www.entrepreneur.com/slideshow/299808#5

Medical Practitioner Toolkit