By Lanee’ Blunt
|How to register a small |
business--Image by Ilco.
When you start your own business you need to make key financial decisions and complete a series of legal activities before you can open the business. The start-up requirements will depend on the type of business you are going in. You may be required to get a business license or tax registration certificate, register a DBA, or comply with zoning ordinances, or the local Health department.
Determine Legal Ownership
You must set up your business as a legal entity. Decide which form of ownership is best for your particular business: sole proprietorship, partnership, limited liability company (LLC), corporation, or S corporation.
Tax Registration Certificate
Register with your state to obtain a tax identification number, unemployment, disability insurance, and worker's compensation. Apply for an employee identification number (EIN) with the federal government.
The right location is the most important factor in the determination of a new site. Look at neighborhood traffic and what draws people to the area, schools, colleges, or a retail mall? Select the best location for your business.
Writing a business plan is beneficial. If you are planning to secure funding from a bank you will need a business plan. A business plan also serves as a roadmap because it includes market analysis and projections.
Entrepreneur; Five Steps for Getting Your Business Up and Running; 2011
SBA; Follow These 10 Steps to Starting a Business
Nolo; Local Start-Up Requirements for Small Businesses