When you consider starting a business, you should know it involves planning, making key financial decisions and completing a service of legal activities. Following are the easy steps that can help you plan, prepare and manage your business to expand and excel.
Step1: Business Plan
A business plan is the most vital factor in starting a business. You will need a written guide that will help you map out how you will start and run your business successfully
Step2: 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
Step3: Choosing A Business Location
The best way to conquer a new business is selecting a customer friendly location and complying with zoning laws.
Step4: Finance Your Business
Step5: Verify The Legal Structure Of Your Business
The legal structure of your small business makes you decide which form of ownership is best for your exclusive proprietorship.
Step 6: Name Your Business By Registering
The way to register your business is with your state government
Step 7: Get A Tax Identification Number
Learn which tax identification number you’ll need to obtain from 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 reimbursement, unemployment and disability insurance.
Step9: Obtain Business Licenses And Permits
Get a list of federal , state and local licenses and permits required for your small business
Step10: Understand Entrepreneur Responsibilities
Learn the legal steps you need to take to hire productive workforce .