Starting a business involves planning, making key financial decisions and completing a series of legal activities.

By on 13-11-2018

A STEP BY STEP GUIDE FOR 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.

 STEP 1: WRITE A BUSINESS PLAN

 Use your internal 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 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 Partnership (LLP), Company

 STEP 6: REGISTER BUSINESS NAME ("DOING BUSINESS AS")

 Register your business name with Registrar of trademark.

 STEP 7: GET A TAX IDENTIFICATION NUMBER

 Learn which tax identification number you'll need to obtain from your state government.

 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

 Obtain state and local licenses and permits required for your business.

 STEP 10: UNDERSTAND EMPLOYER RESPONSIBILITIES

 Learn about the legal steps you need to take to hire employees.