The thought of starting a business sounds harder than it actually is. Business startup isn't actually all that hard and you can even do the whole thing online. With some minimal research you can be in business within a few weeks.
You should already have a business idea in mind and hopefully have done your due diligence to make sure it a wise financial decision. Now that you have those two things complete, you're ready to get started! It's an exciting time, but how do you actually make your business legal? What is required of you throughout the business startup process?
The first thing you should do is decide on a business name. The business name should be something memorable and catchy. It also needs to pertain to your business. It doesn't have to be boring like Joe's Plumbing, but you to do something catchy an a little different like Two Plumbers and a Wrench. Something people will remember, but also lets them know what it is you do. Once you have a name planned you need to register your business name with your state. There is a fee which will vary by state, but you can do this online by visiting your state's website.
You will also need to decide if you want to conduct your business as a sole proprietor or a corporation. There are many benefits for doing business as a corporation, but you also may need and accountant to handle your taxes for you. That of course, will depend on how much you know about taxes. For some people it may be easier to conduct business as an individual. Doing this may be easier, but you are subject to more taxes and your assets aren't protected as well. You can also find plenty of information on the Small Business Associations website to help you make this decision.
The business startup process won't be complete until you have officially registered your business and receive your Employer Identification Number. After you decide how to register, it's time to actually do it. You can register your business online via your state's website. The website will tell you what forms need filled out and how to complete them. Once you fill them out you simply submit them online. Once the papers are filed you will receive your Employer ID number in the mail and then you're in business!
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