Starting a business involves planning, making key financial decisions and establishing as a legal entity.
These 10 easy steps can help you plan, prepare and manage the process of starting your own business.
Step 1: Business Plan Templates
Use these tools and resources to create and write your own business plan, a written guide that 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. Scan local websites, newspaper and Chamber of Commerce listings for seminars on everything from how to prepare a business plan to securing financing, and 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 funding 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, Lim- ited Liability Company (LLC), corporation, S corporation, non-profit 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.
SOURCE: SBA web site (http://www.sba.gov/content/follow-these-steps-starting-business)