What to do to start a small business?

sharksanddanger

sharksanddanger

Well-Known Member
Joined
Apr 18, 2005
Location
Reidsville
If you were wanting to start a small business what all would you need to accomplish first? Where would you go to get your name? Who would you find to insure you? Where to get a tax ID and so on and so forth. Thanks!!
 
Depends entirely on what type of business (sole proprietorship, corporate, llc, partnership etc...). All I can say is that when i started my sole proprietorship all i did was go to the county courthouse to register my name, city hall to get a business license, called insurance companies to get the best price. Tax id info can be found on the irs website and is necessary if youll have employees.

If i remember correctly, sole proprietorship must register business name in each county will be working in, i think everything else has to be registered on the state level.
 
If it's something you are serious about, and that you'll be at a while, it will be WELL WORTH your time and a little cash to meet with a CPA and discuss your plans, needs, business plan, etc. Like lawyers, some won't charge for an initial consultation for a new business/potential client, but you have a great opportunity to pick their brains for an hour or so.

(TIP: If a professional doesn't charge for a consultation, I always send a gift certificate for $50 or so to a really nice restaurant as thanks...and always feel it's very cheap for the information recieved).

Also, some counties, thru community college, chamber of commerce, economic development office, etc have business startup/development help. Here, it's mostly retired corporate people that have been recruited to help startups. They have helped a lot of startups around here. Just take what they say/recommend with a grain of salt -- remember they probably come from a corporate background, not sole-prop, and whatever they learned in Econ 101 was 50 years ago. :)

Good Luck
 
Alot of bogus info on this thread, so my best advise is to research it yourself or seek professional help. There are a bunch of free business advisors, such as the Small business Association that offer usefull services if you dont know what your doing.


Its a PITA to start a small business. The state is just a bunch or re re re tards. First off, figure your business plan; goals/objectives, financials, etc. then research, refine, and as detail as possible and stick to it no matter what. If changes are needed update your plan as needed. Then figure out the small details like your name. You have to go to the secretary of state yourself to see if the name you chosen is not already taken. You can register your name at the secretary of states office or if you dont mind waiting 3 weeks by mail. Your business license must be registered in each county you will do business in no matter if LLC, partnership, sole, etc, I have 2. You can get your employer id and tax id paperwork at the irs website. Save up some money, cause the above gets expensive real quick. I have several g's in paperwork costs just to get legit. Once the paperwork is finalized, get a large bottle of KY and prelube, cause insurance is going to hurt.
 
prelube?

im not sure if i should be impressed or laugh that you have to prelube before the real lube

durka durka
 
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