So, for all of my entrepreneur aspiring friends, here you go. Good luck with your venture and please let me know additional topics that would be of help in your endeavors.
Step 1: Begin with a Business Plan
A business plan is a blueprint of every aspect of your business. Sales, Marketing, Advertising, Promotion and Location are just some of the aspects of creating a plan. Click on the following link to the US Small Business Administration to find a tutorial on how to create a business plan.
Step 2: Choose a Business Structure.
Select a business entity type from the following list for a brief overview of the principal types of legal business structures available in California. A legal representative and accountant should be consulted before making a determination as to the type of business entity to form. There are several great companies that will help you decide and submit the paperwork for you. See below for recommendations.
· Sole Proprietorship
· Corporation
· Limited Liability Company
· Limited Partnership
· S-Corporation
Step 3: File a fictitious name statement
If you use your initials or first and middle name along with your last name in the name of your business, such as A.L. Jones Materials, or Albert L. Jones Materials, you do not need to file for a fictitious name. If you use just your initials, first name or last name such as ALJ Materials, Albert Materials, or Jones Materials, you need to file for a fictitious name. If you use Sons or Company, such as Al Jones and Company Materials, or Al Jones and Sons Materials, you must file for a fictitious name. If you use any other name other than your legal given name or initials, you must file a fictitious name and have it published in a local paper. Signature Filing is a great reliable company to complete this process for you.
Step 4: Register your domain name
Even if you don’t have any idea as to what you would want on a website, it is very, very important to secure your domain name (which is the name that follows after the www…when customers are trying to find you on the internet. Your domain name is your cyberspace business location, and having a good name that is memorable, searchable and descriptive is essential for business stability and success. Of the many domain name registry companies out there, BoyBlu.Net offers this service at a great price as well as website hosting and design.
Step 5: Obtain a resale permit, if required.
Many businesses are required to obtain a permit from the State Board of Equalization (BOE) for "selling or acquiring any tangible items for repair or use in their business." You must have a resale permit if your business is commercial home-based, sales, or repair oriented. As a note - whatever parts or supplies are purchased at wholesale for later resale, you must have a resale permit.
Step 6: Get Information Regarding Taxes
If your business will have employees other than yourself, contact the Employment Development Department (EDD) for information on state withholding taxes, disability and unemployment insurance.
For businesses employing only the owners, contact the Franchise Tax Board (FTB) for state withholding and corporation state taxes.
Step 7: Obtain your Employer Identification Number
Contact the Internal Revenue Service (IRS) for your employer identification number. The IRS will also provide a "business person's kit," seminars for new businesses, additional information and required forms.
Step 8: Open a Business Bank Account
It's vital to have your business transactions separtate from your personal spending. If you have decided on an entity other than a sole prioritorship, you will need the following documents to open your business account:
Fictitious Name Statement, Articles of Incorporation ( for LLC or Corp), Formation Agreement (ex Partnership Agreement), listing the current officers, partners, members, & directors.
All members must be present when opening the bank account to sign the documents.
Step 9: Apply For a Business License
Most businesses require licenses or permits in order to operate. Please click on each of the resources below to determine if your business requires any licenses or permits.
CalGold
Consumer Affairs
When filing for a license, you will need the following information to complete the application process:
Your business name and address
Your business telephone number
Description of your business
The number of employees on staff
The property owner's name and the telephone number of the person to contact in case of an emergency
The name, address, and telephone numbers of any contractors who will be involved in the operation of your business (i.e., gardeners, janitorial service, consultants, etc.)
Your social security
Your State employee I.D. number
Your Driver's License number number
Your Federal I.D. number
Additional Business Start Up Resources and Recommendations Your business name and address
Your business telephone number
Description of your business
The number of employees on staff
The property owner's name and the telephone number of the person to contact in case of an emergency
The name, address, and telephone numbers of any contractors who will be involved in the operation of your business (i.e., gardeners, janitorial service, consultants, etc.)
Your social security
Your State employee I.D. number
Your Driver's License number number
Your Federal I.D. number
Internet Solutions including domain name registration, website hosting & design, ecommerce, and much more.
California StateBoard of Equalization
The Company Corporation
Fast, reliable & affordable Incorporation and LLC services. Nationwide services with offices in all 50 states, Registered Agent, Mail Forwarding services & More.
Legal Zoom
Developed by expert attorneys with experience at the most prestigious law firms in the country, LegalZoom has helped over 400,000 satisfied customers take care of common legal matters.
Developed by expert attorneys with experience at the most prestigious law firms in the country, LegalZoom has helped over 400,000 satisfied customers take care of common legal matters.
PayPal
As the world's number one online payment service, PayPal is the fastest way to open your doors to over 150 million member accounts worldwide. Best of all, it's free to sign up!
Signature Filing
File & Publish your DBA/Fictitious with ease and convenience.
U.S. Small Business Administration
The federal Small Business Administration offers assistance to entrepreneurs and business owners, from start-up to business management and financing, and more.
File & Publish your DBA/Fictitious with ease and convenience.
U.S. Small Business Administration
The federal Small Business Administration offers assistance to entrepreneurs and business owners, from start-up to business management and financing, and more.
No comments:
Post a Comment