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Steps to Starting Your Business

Steps to Starting Your Business

You have a solid business plan in place and are ready to launch it. Here are some things you will want to keep in mind as you start your business.

Select and Register Your Business Name

Before you solidify your name by putting it in a logo, business cards, or building a website, you will want to take these steps. You want to pick a name that will be good for years to come. Ensure it is not a name that is already in use, or trademarked. Once you have your business name, you will want to trademark it.

Determine Your Business Location

Will you need to get a storefront, or can it be a home based business? If you are planning to have your business out of your home, make sure you research zoning laws to ensure you are able to. If looking for a storefront, consider the neighborhood, and if it fits your business.

Apply for you Tax ID Number

This will allow you to separate your business and it’s expenses from your own. This Tax ID will allow you to apply for business loans, open bank accounts, and file taxes. If you are planning to operate as a sole proprietor, you may use your own personal social, but it is always helpful to separate things.

Apply for a Sales Tax Permit

If you are providing any goods or services that are subject to sales tax, you must collect this tax from your customers and pay it to the state.

Get a Business Checking Account

You will want this operating before you start making sales. This will allow you to separately tract your personal and business expenses. See what business accounts we offer here.

Obtain Local Licenses and Permits

Research what you will need, if any, for your business. It is best to apply for these during the start-up phase of your business, as some may take some time.

Research Business Financing

Will you need a vehicle or any kind of equipment for your business? How do you plan on making your daily purchases. Research what finance options are available to you to make starting your business smoother.

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