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What steps must I take to start a small business?

A good friend of mine and myself are looking to start a company together. What paperwork must we file to register a company name (preferably as an LLC to protect our personal assets), get a tax ID, and other such things. I've never started a business before, so any advice would be appreciated.

7 Answers

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  • Anonymous
    1 decade ago
    Favourite answer

    Go to your states web site and then to the Secretary of State section. There you will find a down-loadable one page form. Fill it out and mail it in, together with the filing fee, and in about a week, you'll be an LLC.

  • Anonymous
    1 decade ago

    Wow, most of these posts are ridiculous! Alright here is the real answer to your question. I personally set up a C-Corporation just a few months ago so I can tell you every step you are going to go through. First you must file with your states Division of Corporations. (yes this is the right place even if you are wanting an LLC) Most states have a website for the Division of Corporations, for example Florida's is Sunbiz.org. On the website it will walk you through step by step how to form your proper business entity. Once the forms are filed you will pay a small legal fee to file them.

    Second, after you file for your entity you will want to get an EIN aka Employer Identification Number. This is a number that the IRS uses to track you business accounts. It is a must to get this when you want to open a business bank account. You file for the EIN online at the IRS.gov. After that they will send you your official EIN number and you are ready to set up a business bank account.

    I suggest visiting http://www.edaptedstudents.com/New_Business_Checkl... to view a comprehensive checklist for new businesses. It covers all the topics I mentioned above in greater detail and I think it could definitely help you! Also the site has a forum so if you have additional questions I'm sure they would be quick to respond. Good luck.

  • 1 decade ago

    Well you need to go to your local community center (usually near your local library) and get/fill out the paperwork to get a fictitious business name and a business license.

    Making you business into an LLC or S-Corp. is pointless. If you do somehow manage to get a bank to loan you money without any business credit you will still need to secure the loan with a personal asset, ie. your house. If you have company assets like a office building or vehicles, those will be repossessed. If you are trying to protect yourselves from legal action, well whatever you are doing is immoral and you will go to jail anyway. Look at Enron.

    My suggestion is to keep your company private. Becoming an LLC costs more money for no benefit especially if you're just starting your business. If you need money to start you business try findaninvestoronline.com I had some success with this site.

    Source(s): Personal experience and research
  • ?
    Lv 4
    5 years ago

    i'm doing an information superhighway outfits keep also and that i mandatory a EIN (federal tax identity), State tax identity, i registered my corporation call as commerce-call for Doing corporation As (DBA) through my community Clerk of more effective court docket in my county the position i stay which fee me $29.25. you should use your very last call or maybe with the actuality that you desire if this is gonna be different than your call, yet i'd really propose that your registered it. In my community city i changed into cautioned that i mandatory a company license because i changed into operating the corporation from domicile, so as that fee $138.00. so that you wanna examine such as your city authorities. it truly is all i mandatory to commence. The wholesale businesses will ask on your sales tax identity and some ought to ask for corporation license selection. Hopes this help!

  • Anonymous
    1 decade ago

    Hi DJ,

    I'm not sure if you were just looking for info for a LLC or you were also looking for advice as to what to start. But if you would like to read my profile and contact me I will share my story and offer some real, honest and no BS advice.

    Val

  • Anonymous
    1 decade ago

    Use this basic checklist to make sure all the important steps are taken before you launch your new venture. This business checklist will make sure that you cross all your t's and dot all your i's before your business launch.

    Steps to Starting a Business -

    http://www.developer-resource.com/starting-a-busin...

    Other sites you might find helpful are:

    SBA - http://www.sba.gov/

    SCORE - http://www.score.org/

    Small Business Resource - http://www.small-business-software.net/

    Business Link - http://www.businesslink.gov.uk/bdotg/action/home

    Goodluck!

  • 1 decade ago

    court house has the LLC forms etc...

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