6 Vendors You Need for Your New Business

Without vendors it would be pretty tough to operate your business to optimal efficiency. Which vendors are most important to a new business? Here are six you should get onboard now. juice zone cofe Image via Flickr by networker
6

Bookkeeper/Accountant

Unless you own this type of business, it’s best to find a qualified bookkeeper or accountant. The accounting cycle must be followed to make sure financials are accurate. All types of businesses need this type of vendor, especially those who have little or no knowledge of how debits and credits and journal transactions work. Your banks, lenders and investors will want a profit and loss statement each month so it’s important to hire the right firm or individual as soon as possible.
5

Professional Liability Vendor

Your new business will also need insurance to protect the business and the owners. Companies like The Hartford Group will help you obtain the right coverage for: • Workman’s Compensation Insurance • Business Liability Insurance • Personal Umbrella Insurance • Company Auto Coverage • Healthcare Coverage • Property Insurance • Errors & Omissions Coverage No matter what type of business you own, you may need all or a combination of these types of policies.
4

Inventory Vendors

If you have a business where you must keep inventory on hand, you will also need inventory vendors. They supply the products you sell. For example an auto repair center will need a parts inventory vendor. A beauty salon requires a vendor to supply hair products, hair dye, nail polish, conditioners, etc. Almost any type of business that offers product sales will need inventory vendors and it’s best to find more than one—two or three in case one vendor doesn’t have what you need in stock.
3

Office Supplies

Even though we all assumed we’d be a paperless society in the 21st century, we still need paper for copy machines and printers. You will also need the essentials like pens, staplers, paper clips, sticky notes and other office supplies based on the type of business you own. Whether you sell a product or service, an office supply vendor is essential to the day-to-day operations of your business.
2

Advertising & Promotional Vendors

Advertising and marketing are ways to build your business brand. You can hire one advertising agency to complete all the promotional tasks you need or seek out the pros right from the source such as: • Radio, TV and Newspaper Ad Representatives – These reps can help you design ads as part of the advertising contract. • Promotional – If you want to give out pens, key chains or other promotional items with your business name or logo, these type of vendors can supply them in bulk discounts. • Signage – Sign companies can provide general signage for your business, metal lettering, vehicle wraps and graphics advertising and magnetic signs. • Blogger/Social Media Producer – Today’s Internet world requires businesses to blog regularly and post to social media accounts. This type of vendor can do all of this for you. Once you set an advertising budget choose which solutions will work best for the business.
1

Website Hosting Company/Designer

Today’s consumers prefer businesses with a website where they can learn more about the company. Again, both product and service related businesses will need a website hosting company. Look for ones that also offer help on small business website design. It’s essential to find vendors to help your business run smoothly. To find the best vendors, utilize an effective vendor selection process to make sure you choose vendors wisely. [smartads]

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