THE INNOVATIVE REPORT » August 29, 2013

Daily Archives: August 29, 2013

10 Steps to Starting a Business

Starting a business seems like a daunting task. Don’t know where to start? Utilize the 10 steps to put your own name on the door!

1. Write a Business Plan

2. Get Business Assistance and Training

3. Choose a Business Location (make sure to select a customer friendly address)

4. Finance Your Business (Find a Lender who can help startups!)

5. Determine the Legal Structure of Your Business (Sole Proprietorship, Partnership, LLC, Corporation, Privately Held)

6. Register a Business Name (Doing Business As, DBA)

7. Get a Tax Identification # (Dependent on state for IRS and State Revenue Agency)

8. Register for State and Local Taxes (Register with state to obtain Tax ID #, Workers Compensation, Unemployment and Disability Insurance)

9. Obtain Business Licenses and Permits

10. Understand Employer Responsibilities (Learn legal steps to hire employees)

 

Start-Up Resources:

Equipment Leasing/ Equipment Financing – finance equipment or services needed for the business without purchasing all up front

Working Capital – funding for any business expenses

Merchant Services – credit card processing as additional payment options for customers

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