Top 10 Steps to Starting a Business

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Starting a small business requires determination, motivation, and know-how. Here are the critical steps to provide you with the know-how to have a successful small business startup:

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.

1. 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.

1. Step 3:

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

1. Step 4:

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

1. 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.

1. Step 6:

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

1. 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.

1. Step 8:

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

1. Step 9:

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

1. Step 10:

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

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