Have you ever imagined about starting your own business? Right now there is a better time, 2013 for you to start a new business. Not quite sure about all the steps needed to get your business up and running? Don't wait another day. Starting your own business doesn't have to be an intimidating process. See the infographic below to know the basics about starting a small business.
Choose a company Name
First, you must decide what you want to name your business, and find out if that name is available with the secretary of state, if yes then register your domain. If you are planning on running an online business, now is the best time to secure your domain name as well. File a Trademark, by filing a trademark application and registering it with the USPTO, a business can help protect their identity and prevent others from using their mark
Select Your State Of Incorporation
Choosing the state of formation is an important business decision. Although most businesses select the state where the business is located, there are other states to consider in some circumstances.
Choose Your Business Entity Type
Another important business decision is choosing your legal structure. Outlined below are the two most common entity types. Tip: When forming your business, you will need to know the basic structure of your company, such as assigning owners, directors, and officers. Thorough planning will make the incorporation process much easier.
Designate A Registered Agent
A registered agent acts as a middle man between you and the state you formed your business in. When the state needs to contact your business, or provide service of process, the registered agent will receive those notices on your behalf. Anyone can be a registered agent, but using an outside service provides more privacy.
Obtain An EIN Number
An EIN ( Employer Identification number ) is the state's way of uniquely identifying your business. It's a little like a social security number, in that you pay taxes and verify your business identity with it. It is required for a business to have an EIN to acquire a bank account. Tip: Once you have obtained an EIN, you may open a bank account for your business. Separating your business finances from your personal accounts provides better protection of your personal assets.
File Your Documents
To complete the process you need to file the articles of Organization ( LLC ) or articles of incorporation ( corporation ) documents with the secretary of state. Also be sure you do not need any additional business licenses.
Infographic By mycorporation.com