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Lanee' Blunt
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.
Office Space
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.
Business Plan
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.
Reference:
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
Posted in: Start Up
