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Steps to Starting a Business

Steps to Starting a Business

 

Steps to Starting a Business

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. Click on the links to learn more.

Step 1: Write a Business Plan
Use 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 
Register your business name with your state government.

Learn which tax identification number you will need to obtain from the IRS and your state revenue agency.

 

Step 7: Register for State and Local Taxes
Register with your state to obtain a tax identification number, workers compensation, unemployment and disability insurance.

 

Step 8: Obtain Business Licenses and Permits
Get a list of federal, state and local licenses and permits required for your business.

 

Step 9: Understand Employer Responsibilities
Learn the legal steps you need to take to hire employees.

 

Step 10: Find Local Assistance

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