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Steps to Starting a Successful Business

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Starting a business involves making key financial decisions and completing a series of legal activities. This guide provides information to help you plan, prepare, and manage your business.

 

  1. Step 1:

    Research and Plan Your Business
    Use these tools and resources to help you prepare your business plan and become a successful business owner.

  2. Step 2:

    Get Business Assistance and Training
    Take advantage of free training and counseling services, from preparing a business plan to getting financing, and help expanding and relocating a business.

  3. Step 3:

    Choose a Business Location
    Get advice about choosing a customer-friendly location and complying with zoning laws.

  4. Step 4:

    Finance Your Business
    Find government backed loans, venture capital and research grants to help you get started.

  5. Step 5:

    Determine the Legal Structure of Your Business
    Decide whether you are going to form a sole proprietorship, partnership, LLC, corporation, non-profit or cooperative.

  6. Step 6:

    Register a Business Name ("Doing Business As")
    Register your business name with your state government.

  7. Step 7:

    Get a Tax Identification Number
    Learn which tax identification number you'll need to obtain from the IRS and your state revenue agency.

  8. Step 8:

    Register for State and Local Taxes
    Register with your state to obtain a tax identification number, workers' compensation, unemployment and disability insurance.

  9. Step 9:

    Obtain Business Licenses and Permits
    Get a list of federal, state and local licenses and permits required for your business.

  10. Step 10:

    Employer Responsibilities
    Learn the legal steps you need to take to hire employees.

 
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