Here are the steps you generally need to follow in order to start your own business, they might vary a little depending on which county and state you are in, but the essentials are there.
Follow these steps won't guarantee you will have a success business, but you will have a successfully registered and planned business.
Instructions
1. Research your business ideas.
You can utilize local library or local small business resources center to do market research to collect market information.
2. Create a Business Plan.
A business plan is your roadmap to success funding for the business and running the business once it's set up.
3. Give it a catchy name.
Use your imagination.
4. Determine the legal structure.
The legal structure will affect your income taxes and personal liability. Depending on the state you are in, most states have the following legal structure choices: Sole Proprietorship, General Partnership, these are the least complicated; Limited Partnerships, Limited
Liability Partnerships, Corporations and Limited Liability Companies, these are more complicated.
5. Determine your business location.
Select a site and determine zoning and site permit requirements. You should get this done prior to signing a lease or contract. You must check with the local government agency to see if the type of business you plan to operate is legal in the desired location or not.
6. Obtain any special licenses and permits if necessary.
Otherwise, you will be in the business illegally.
7. Collect tax information.
Several types of taxes may be levied on businesses including income tax, employment tax and a city's business tax.
8. Understand employer responsibilities if you plan to hire employees.
A whole new set of responsibilities arises when a business hires employees. Employers must register as an employer and obtain a federal Employer Identification Number (EIN), pay additional taxes, withhold, match and submit employee withholdings, must obtain worker's compensation insurance and adhere to employee eligibility regulations.
9. Apply for a business tax certificate (license).
This might vary with your city, please consult a tax consultant or your local government agency.
