10 STEPS TO STARTING A BUSINESS

Starting a business involves planning, making key financial decisions and completing a series of legal activities. Here are 10 steps that may assist you to plan, prepare and manage your business.

Step 1:

Write a Business Plan.

Use tools and resources to create a business plan to help you map out how you will start and run your business successfully.

Step 2:

Get Business Assistance and Training

Take advantage of resources available at the US Small Business Administration to prepare a business plan, secure financing or expanding or relocating a business

Step 3:

Choose a Business Location

Get advice on how to select a customer-friendly location and comply with zoning laws.

Step 4:

Finance Your Business

Find government backed loans, venture capital and research grants to help you get started.

Step 5:

Determine the Legal Structure of Your Business

Decide which form of ownership is best for you: sole proprietorship, partnership, Limited Liability Company (LLC), corporation, S corporation, nonprofit or cooperative.

Step 6:

Register a Business Name or create a business Entity

Form your business with your state government.

Step 7:

Get a Tax Identification Number

Learn which tax identification number you’ll need to obtain from the IRS and your state revenue agency.

Step 8:

Register for State and Local Taxes

Register with your state to obtain a tax identification number, workers’ compensation, unemployment and disability insurance.

Step 9:

Obtain Business Licenses and Permits

Get a list of federal, state and local licenses and permits required for your business.

Step 10:

Understand Employer Responsibilities

Learn the legal steps you need to take to hire employees.

 We can help you do it right!  Please contact us for the right advice to make the difference in your future.

This entry was posted in Article - Law Library, Business & Corporate Law, Practice Area. Bookmark the permalink.

Comments are closed.