.Starting a business involves intensive planning, direction setting, as well as ensuring compliance with legal and regulatory requirements. There are a number of things that you need to do to help you plan, prepare, and manage your business.
According to the government’s Business.gov site, here are 10 steps to starting a business:
- Research and plan your business
- Take advantage of free training and counseling services, from preparing a business plan to getting financing, and help expanding and relocating a business.
- Get advice about choosing a customer-friendly location and complying with zoning laws.
- Find government backed loans, venture capital and research grants to help you get started.
- Decide whether you are going to form a sole proprietorship, partnership, LLC, corporation, non-profit or cooperative.
- Register your business name (“doing business as”) with your state government.
- Learn which tax identification number you’ll need to obtain from the IRS and your state revenue agency.
- Register with your state to obtain a tax identification number, workers’ compensation, unemployment and disability insurance.
- Get a list of federal, state and local licenses and permits required for your business.
- Learn the legal steps you need to take to hire employees.
SOURCE: “10 Steps to Starting a Business,” Â Business.gov
