How do I start my own business?

Question

I am a student right now, majoring in Web Design. I want to be a freelance web designer, but I do eventually want to build a business out of it. After a few years I want to have a decent client base and I want to start hiring people on right out of school to help them get the experience they need sence it's kinda hard to get a job without it.

I have big dreams for this, but I want to know what i need to do to make a business out of it. Do I need an IRS number? How do I get one? How do I know how much to take out for taxes? I need to know everything lol.

Answer 1

The first thing you need to do is IGNORE the first answerer who said "...to open up a business, and that the Government will pay us, just one time (I do believe it is a One time Grant)" as there is NO SUCH THING in the United States. That is misinformation at its worst perpetuated by scammers targeting the gullible (see the Federal Trade Commission warning on these companies promising grant monies http://www.ftc.gov/opa/2004/03/grantresources.htm and http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt134.htm )

There are no grants to help you start a business. From the SBA website http://www.sba.gov/mostrequesteditems/CON_FAQ2.html

"The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments."

As to your question on whether you need an IRS number --

Generally, businesses need an Employer Identification Number (EIN) or federal tax identification number. The EIN is used to identify a business entity such as a corporation, LLC, or partnership. Sole proprietorships that need to pay federal excise of employment taxes are required to get an EIN.

On the other hand, sole proprietors with no employees are not required to get an EIN, and can instead use their Social Security numbers.

The Internal Revenue Service (IRS) web site at http://www.irs.ustreas.gov/businesses/small/article/0,,id=98350,00.html contains all the information you need about EIN and how to apply for an EIN electronically.

If you need to know everything, I suggest you you go to the library or the bookstore and start reading these books

- What No One Ever Tells You About Starting Your Own Business: Real Life Start-Up Advice from 101 Successful Entrepreneurs http://www.amazon.com/exec/obidos/ASIN/1574101129/ref=nosim/powerhomebizguid
- If You're Clueless About Starting Your Own Business and Want to Know More http://www.amazon.com/exec/obidos/ASIN/1574100939/ref=nosim/powerhomebizguid
- Start Your Own Business : The Only Start-Up Book You'll Ever Need http://www.amazon.com/exec/obidos/ASIN/1891984217/ref=nosim/powerhomebizguid
- Steps to Small Business Start-Up : Everything You Need to Know to Turn Your Idea into a Successful Business http://www.amazon.com/exec/obidos/ASIN/1574101323/ref=nosim/powerhomebizguid


It may help you if you could talk with a small business expert or free mentors to give you ideas on how to make your dream of starting a business come true even without money. Here are some places where you can find a mentor:

- Government Mentoring Programs such as SBDCs, which works with community colleges and local business development councils to offer mentoring programs http://www.sba.gov/sbdc/sbdcnear.html ; or the Women's Network for Entrepreneurial Training http://www.sba.gov/womeninbusiness/wnet_roundtables.html
- Volunteer programs such as SCORE http://www.score.org which is composed of mostly retired executives and entrepreneurs
- Formal mentoring programs such as Athena Foundation http://www.athenafoundation.org/programs/globallinks.html , Helzberg Entrepreneurial Mentoring Program http://www.helzbergmentoring.org/HEMP/ , or The Aspen Institute MicroMentor Program http://www.micromentor.org
- Professional organizations such as the National Women’s Business Council http://www.nwbc.gov/Mentoring/programs.html
- Industry and trade associations
- Local business groups, such as the chamber of commerce
- Local chapters of business groups

Answer 2

You can get a "Grant Writer" to do all of your legal paper work and most likely to also guide you to someone who can do all of your financial payroll and so on, the taxes you can just take to H & R Block...... These same Grant Writer's keep sending me email's telling me they'll do my paperwork to open up a business, and that the Government will pay us, just one time (I do believe it is a One time Grant)...... For a lump sum amount, to help you open a business..... then alls you have to do is find a building in a Business area, get the phone number, for that vacant one, and call to see how much to lease it, would be, and then go to the court house and get your business license and VWalaaaahhh!!!! Your all good to go!!! Smile!! Finding these Grant writer's now.. Lets see, if you want to email me, I can write their email address for you..... just email me at: [e-mail] and I'll see what I can do for you to help okay...... Smile!!!

Answer 3

congrats on you web design field.

Hopefully this will lift your spirits.

Here is a fantastic company that will allow you to
work from home & for FREE>

That's right, they pay a BONUS of $100 - $1000 a week
plus normal $$$.

This is an exciting company to join for FREE.
Watch the movie flash...
Visit:
www.behappy.ws

Enjoy the ride! & your web design field.

Answer 4

You can get a license from city hall for about $100 and they give you all the info.

Answer 5

hey.. i am a web designer too.. i am from india.. i have good business plans and want someone from US to work with me on the US market.. interested in working together with me ??

email you phone number to [e-mail] and i will call you and explain u on this.

Answer 6

I think that you wil find this article of mine very useful.

http://www.articleshut.com/index.php?page=article&article_id=26990

Contact me from www.StartMyNewBusiness.com if you want any more advice.