Starting a business involves planning, making key financial decisions and completing a series of legal activities. These 10 easy steps can help you plan, prepare and manage your business. Click on the links to learn more.
Step 1: Write a Business Plan
Start writing your business plan and identify all the key operating areas of your business, this will help investors and potential clients understand what your business stands for. If you need help writing a business plan or getting connected with resources, contact us (button is below).
Step 2: Get Business Assistance and Training
Take advantage of free training and consulting services, from preparing a business plan and securing financing, to expanding or relocating a business. Find out more about our consulting services by contacting us, button is below.
Step 3: Choose a Business Location
Get advice on how to select a customer-friendly location and comply with zoning laws.
Step 4: Finance Your Business
Find government backed loans, venture capital and research grants to help you get started.
Step 5: Determine the Legal Structure of Your Business
Decide which form of ownership is best for you: sole proprietorship, partnership, Limited Liability Company (LLC), corporation, S corporation, nonprofit or cooperative.
Step 6: Register a Business Name (“Doing Business As”)
Register your business name with your state government. Learn which tax identification number you’ll need to obtain from the CRA or IRS.
Step 7: Register for State and Local Taxes
Register with your state to obtain a tax identification number, workers’ compensation, unemployment and disability insurance.
Step 8: Obtain Business Licenses and Permits
Get a list of federal, state and local licenses and permits required for your business.
Step 9: Create an Online Profile
Learn the legal steps you need to take to hire employees. Managing a business can be hard, but the SBDC is here to help you every step of the way.
Step 10: Find Local Assistance
Find out if there is funding available for your type of business. Join community groups and participate in as many free seminars/webinars in association with your business category/type.