A Quicker Guide On “How To Start A New Business” From Scratch(10 Steps)
Starting a business involves planning, making key financial decisions and completing a series of legal activities. These 10 easy steps can help you plan, prepare and manage your business.
Step 1: Write a Business Plan
Use these tools and resources to create a business plan. This written guide will help you map out how you will start and run your business successfully.
Step 2: Get Business Assistance and Training
Take advantage of free training and counseling services, from preparing a business plan and securing financing, to expanding or relocating a business.
Step 3: Choose a Business Location
Get advice on how to select a customer-friendly location and comply with zoning laws.
Step 4: Finance Your Business
Find government backed loans, venture capital and research grants to help you get started.
Step 5: Determine the Legal Structure of Your Business
Decide which form of ownership is best for you: sole proprietorship, partnership, Limited Liability Company (LLC), corporation, S corporation, nonprofit or cooperative.
Step 6: Register a Business Name (“Doing Business As”)
Register your business name with your state government.
Step 7: Get a Tax Identification Number
Learn which tax identification number you’ll need to obtain from the IRS and your state revenue agency.
Step 8: Register for State and Local Taxes
Register with your state to obtain a tax identification number, workers’ compensation, unemployment and disability insurance.
Step 9: Obtain Business Licenses and Permits
Get a list of federal, state and local licenses and permits required for your business.
Step 10: Understand Employer Responsibilities
Learn the legal steps you need to take to hire employees.
Knowledge Shared With You and Published By: Terry “Mississippi Sipp” Brisco
Posted on July 31, 2012, in Business Ventures, Random Information How TO, Uncategorized and tagged 10 steps to start a new business, business, business deals, ceo, ceo status, cfo, Chief Executive Officer, copyright your business, dba, doing business as, franchises, how to market, how to start a business, how to start a company, how to start a company online, how to start a new business, legit business, ownership, patent and trademarks, start a business on the internet, start a record label, work from home. Bookmark the permalink. Leave a comment.