Entrepreneurship can have its’ benefits and rewards. Being a business owner allows you to set your own hours work at what you do best. Having a business is not just leasing an office space and putting a sign out saying “open for business”. Starting a business involves planning, making financial decisions, and legal activities to protect your business.
Here are some steps which are located on www.sba.gov
Step 1: Write a business plan
A business plan is a written guide that helps you map out how you will start and run your business.
Step 2: Get business assistance and training
There are free training and counseling services available that teach you how to prepare a business plan, and obtain financing.
Step 3: Choose a business location
Get advice on how to select a customer-friendly location and comply with zoning laws. A good place to start is a centrally located area where a lot of customers are shopping.
Step 4: Finance your business
Not every business will need financing. You can find government backed loans, venture capital and 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 Company, corporation, S corporation, nonprofit or cooperative.
Step 6: Register a business name
Register your business name with your state government
Step 7: Get a tax identification number
You can obtain a tax identification number from the IRS website www.irs.gov
For more steps and resources, visit www.sba.gov
Comments