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Posts tagged ‘legal structure’

Small Business Checklist-How to Establish Your New Business

If you are thinking of starting a business, and not sure were to start.  Below is a  quick “Small Business Start-up Checklist” you may be useful.

1     Research the viability of your idea


2      Secure any needed operating funds.  This could be from your savings or loans.


3     Chose the location of your office.  If working from home, I suggest dedicating a specific area.


4     Determine the legal structure of your business.  Will you operate as a Sole Proprietor, Partnership, Corporation or LLC


5     Register your business name.  Usually with your local county business license office.


6     Get you Tax Identification Number (EIN)  from the IRS & determine if you are required to register for state & local tax        collection.   Your  State Department of Revenue & Sale Tax Office.


7     Obtain any needed Permits & Business Licenses.  Usually from the county business license office.


8     Hire any needed employees and experts- lawyer, accountant, bookkeeper, for example.


9      Begin operating your business!


Do you have any other suggestions for establishing a new business?  Please share.

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