2007-01-11 04:04:26 · 7 answers · asked by blackgrifter 2 in Business & Finance ➔ Small Business
The best routes to take are to research the process of starting a business as well as the industry you're interested in.
I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.
Research, research, research – this cannot be stressed enough. Read as much as you can. Here are some book titles that are relevant:
* How to Really Start Your Own Business, Fourth Edition by David E. Gumpert
* How to Really Create a Successful Business Plan: Step-by-Step Guide by David E. Gumpert
* What No One Ever Tells You about Starting Your Own Business: Real-Life Start-Up Advice from 101 Successful Entrepreneurs (What No One Ever Tells You About Starting Your Own Business) by Jan Norman
* Business Start-Up Kit by Steven D. Strauss
* Start Your Own Business (Entrepreneur Magazine's Start Up) by Rieva Lesonsky
There are plenty of free informational resources out there. Check the source box for links to articles.
Hope that helps! I wish you much success & happiness in all your ventures!
2007-01-11 07:58:08 · answer #1 · answered by TM Express™ 7 · 1⤊ 0⤋
Assuming that you have a business plan, you want to decide what kind of structure you want for your company.
1. Regular corporation
2. S-corporation
3. LLC (Limited liability company)
LLC is probably the best starting point. It gives the benefit of limiting your personal liability should something go wrong while giving you the tax benefits of the S-corporation.
Both S-corp and LLC prevent double taxation. The profit / loss of the company passes directly onto the shareholders (owners) and they file personal taxes with that income / loss.
In a C-corp, the company gets taxed on the corp rate and then you get taxed on the money you take out of the company at a personal level.
At the same time, you want to incorporate your company with the state you want to run the business in. A website with that URL might also help if you plan to do anything online.
Last but not the least, get an attorney who can get the by laws and share certificates done and structured properly. There are online agencies that help you do the whole thing. http://www.incfile.com/ is one such company.
Good Luck with your venture.
2007-01-11 12:13:23 · answer #2 · answered by Chandra 2 · 0⤊ 0⤋
Congrats on your tenacity! Once your business plan is complete, and al of your research is finished (as far as finding a nich in your market, current competition, etc), go to your City Hall building to apply for your ficticious business name and permits. If you are not selling a product or merchandise, but a service ONLY, then you do not need a business license. You will however need a permit to do business out of your home, and the fee for that permit is very inexpensive. Get a tax ID also; you'll do that while you're at City Hall.
GOOD LUCK TO YOU!!!
2007-01-11 12:11:59 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Figure out what you want to do first. Then research it to see what's needed to succeed and start doing it.
Of course it might be easier to get a small home business started while you continue working to get a handle on it.
2007-01-11 12:07:47 · answer #4 · answered by ? 3 · 0⤊ 0⤋
Write a business plan
2007-01-11 12:07:19 · answer #5 · answered by Jet 6 · 0⤊ 0⤋
get it listed as an LLC or a corporation... depends on the protection level that you want and if you have partners, employees etc...
2007-01-11 12:08:27 · answer #6 · answered by kd s 2 · 0⤊ 0⤋
do SWOT analysis
2007-01-11 13:34:52 · answer #7 · answered by Anonymous · 0⤊ 0⤋