There are some very basic items you need to do in starting a new business. Here are just a few that I would recommend.

  • Consult an accountant: Compare the tax aspects of various business entities.
  • Choose a business entity: (Sole Proprietorship, Corporation, Partnership, Limited Liability Company).
  • Consult an attorney: You need to be briefed on the federal a state laws governing the business.
  • Draft an agreement: Write and agreement among principals of the business and start date.
  • State: File with the state for certificate of assumed name.
  • Federal: Obtain a federal employer identification number
  • State: Obtain state tax identification numbers.
  • City: Obtain required city/county/local business licenses/permits.
  • Bank: Establish a business checking account.
  • Accounting: Establish a method of keeping financial records.
  • Insurance: Consult an insurance professional to obtain business liability and workers’ compensation coverage.



    • Posted by Mike Cox
    "Today is today you can’t do anything about yesterday"

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