Steps For Starting A Small Business
Steps For Starting A Small Business
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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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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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. - Visit Jeff Foster's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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Bernard ReberBack in late 1992, MS Access hit the streets. About that time the company I managed needed new software to handle their growing client base and I decided to try this new product. I had little difficulty writing and adapting a database to suit us and discovered a hidden talent for programming. A business was born. With business studies and 25 years of management experience in three different countries under my belt, I could offer a unique combination of skills and my customers agreed. From these humble beginnings my software 'invoiceit' emerged in 1999 and has since been taken to 49 states (hello Wyoming, won't you join us?), all across Canada and more than 70 other countries. From the very beginning the program included cashbook accounting, the simplest form of keeping financial business records. The Dictionary.com defines 'cashbook' as "A 'book' in which to record money received and paid out". For 'book' substitute 'simple software' and that's what I'm about. Now I have published Simple Accounting, an inexpensive spreadsheet solution which even you can master. For just $14.95 it costs less than a takeout meal! More at http://www.scrambled-card.com/simple_accounting_main.htm - Visit Bernard Reber's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith'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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