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- Determine Where You Want Your Business: Where you locate your
business can breathe the success or failure. What types of clients are you
targeting? Where do you find them? You also need to check local zoning laws
(typically on the county and or municipal level). Another thing to check is
for any local licensing requirements that could drive up the cost of doing
business. Local municipalities can charge a higher sales tax, a gross receipts tax
(sometimes called a business privilege tax), personal property tax, or another tax or taxes in
association with locating there.
- Write a Business Plan: An old
Chinese Proverb once said “If you don’t know where you are going, any
road will take you there.” Business plans are essential to the success
of a business. Think of it as a roadmap to success in your business. There are
numerous resources to help you create a proper business plan. Some states may
require these as a step towards incorporation and qualification.
- Choose a Business Structure: Refer to our page about the types of companies for more information. Choosing a
business structure will affect the corporate ending of your name. Consult an
attorney and or accountant for help deciding what type of company fits you
best.
- Does your business require you to be professionally licensed?: Some
professions, such as accountants, doctors, engineers, and so on, require you
to hold a professional license to practice or to have at least 1
employee who does. Check with your state's board of licensing to see if you
qualify.
- Name Availability: Is the name of the company available in all of
the states you wish to operate? If not, you may need to choose another name to
incorporate with or choose a fictitious name (or trade name) to operate under.
The requirements for registering fictitious names vary by state, some places
requiring registration on the state level, county
level, or even on the municipal level.
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