Prepare A Business Plan;
VenturePointOnline.com offers a business plan outline on our “Resource Library” page. Or visit your local SCORE office or Business Development Center. If you’re not comfortable with writing one yourself there are companies that specialize in this; Einstein Enterprises www.einstein-enterprises.com
Tax Structuring;
VenturePointOnline.com offers a breakdown on the “Resource Library” page of the most common forms; corporation, sole proprietorship, general partnership, limited partnership, “S” corporation and limited liability company. It is advisable to consult an attorney or CPA for advice on which form will be the best fit for your company.
Personal Credit;
If you intend to use a financial institution or investor for funding of your business, check your credit report first. The three major credit report agencies are; Equifax/ www.equifax.com, Experian/www.experian.com, and Transunion/www.transunion.com.
Register The Name Of Your Business;
You will need to make sure that the name you have chosen for your business has not already been taken. This can be done by calling the Secretary Of State’s office or go online. If it is available then you will need to register it with your county office. If you intend to trademark your company’s name or logo, to check for US availability and applications go to; ourwww.USPTO.gov. A business attorney that specializes in patents and trademarks can also help you with this process. Cheryl Tubach of Myers & Kaplan Intellectual Property Law, L.L.C Atlanta, GA. www.mkiplaw.com
Business License;
You will need to obtain a business license for the municipality in which your business is physically located.
Tax ID Number;
This form is SS4 and is available through the IRS, your CPA or tax advisor. The IRS website to obtain this form is : http://www.irs.gov/businesses/index.html
Register Your Business With Your State Tax Commission;
This form is available through your state office or CPA and can be used to obtain an employer withholding number if you have employees and a retail license.
Real Estate;
Whether buying or leasing real estate have an attorney review all transactions in case there are special considerations. And as a lessee make sure you are clear as to who is responsible for maintenance, up keep or damage to the property.
Zoning Regulations;
Check with your city or county offices for zoning, occupancy permits, and sign permits.
Insurance;
You will need to consult an agent on liability, Workers’ Compensation, casualty insurance, bonding etc. this will vary according to the type of business and number of employees.
Bookeeping;
If you are not using an in house accountant or bookkeeper then you will need to consult one for advice on establishing a bookkeeping system.
Checking Account;
Open a business checking account. Do not use your personal accounts for business transactions.
Credit Card Merchants;
If your business will be accepting credit cards, check with the bank you are doing business with, and then shop around to make sure you are receiving the best possible rate.
Special Licensing or Permits;
According to the type of business or industry you are going into it may require additional licensing or permits; Health Department, hazardous materials, occupational and professional licensing boards, OSHA, ABC, Department of Agriculture, etc.
Steps For Starting A Small Business - To learn more about this author, visit Karen Torbett's Website.
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Karen Torbett
(Visit Karen's Website)
About Venture Point ~ The purpose of
Venture Point and its online service, www.Ven
turePointOnline.com is to not only
give people who may want to buy or sell a
business on their own a venue to do it
through, but also a “go-to” site for
people to find information on buying and
selling a business or for professional
services, such as Attorneys, Business
Brokers, or CPAs in their area of
interest, to help with the process.
Venture Point’s online service allows
visitors to search business sales listings
for free. For those individuals seeking to
sell their business, listings can be
posted for a fee. Brokers are also welcome
to use the service by listing their own
services or businesses for sale they
represent (for a flat fee). Users are
provided access to a database of CPAs and
attorneys, as well as helpful articles and
tips on buying or selling a business.
Venture Point has expanded its resources
to include a business blog www.Ventu
rePointBlog.com for business owners,
potential business owners, CPA's, business
Attorneys and Business Brokers, to ask
questions, submit articles, tips or ideas
that people may be in need or help with.
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Venture Point - Blogging is the new form of communication that enables us to voice our opinions, to ask questions and get questions answered. It is also an excellent form of advertising your business or expertise. Venture Point has established a business blog for business owners, potential business owners, CPA's, business Attorneys & Business Brokers, to ask questions, submit articles, tips or ideas that people may be in need or help with.
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