Launching a business can be an exciting and rewarding experience, but it can also feel overwhelming at times. There are many decisions to make, from choosing a business name and legal structure to developing a product or service and creating a marketing plan. All of these factors can make launching a business feel overwhelming, but with careful planning, support, and perseverance, it is possible to overcome these challenges and achieve success.
The Small Business Administration (U.S.) is a great resource for those ready to launch a business. Here’s a list of resources from their site to get started with:
How to choose a business structure
The article discusses the importance of choosing the right business structure when starting a business. It outlines the most common types of business structures, including sole proprietorships, partnerships, LLCs, corporations, and cooperatives, and discusses the advantages and disadvantages of each. The article also provides guidance on how to choose the right structure for your business based on factors such as liability protection, tax implications, and management structure. It emphasizes the importance of seeking professional advice and registering your business with the appropriate state and federal agencies to ensure compliance with legal and regulatory requirements. Overall, the article provides a helpful overview of the different business structures and the considerations involved in choosing the right one for your business.
How to choose a business name
The article explains the importance of choosing a good business name and provides guidance on how to do so. It discusses the legal and branding considerations involved in selecting a business name, such as ensuring that the name is available and not already trademarked and that it reflects the nature and values of the business. The article provides tips for brainstorming and testing potential business names, such as conducting market research and getting feedback from colleagues and potential customers. It also explains how to register your business name with state and federal agencies to protect your legal rights and establish your brand identity. Overall, the article provides a helpful overview of the process of choosing a business name and the factors to consider to ensure that your name effectively represents your business and resonates with your target audience.
Register your business
The article provides guidance on how to register your business with the appropriate state and federal agencies. It emphasizes the importance of registering your business to establish legal protection, comply with tax and regulatory requirements, and build credibility with customers and partners. The article outlines the steps involved in registering your business, including choosing a legal structure, obtaining a federal tax ID number, registering for state and local taxes, and obtaining any required licenses and permits. It also provides links to resources and tools to help you navigate the registration process and stay compliant with legal and regulatory requirements. Overall, the article provides a helpful overview of the registration process and the importance of taking these steps to protect and grow your business.
Get federal and state tax ID numbers
The article discusses the importance of obtaining federal and state tax ID numbers for your business. It explains that these numbers are required for tax purposes, such as paying federal income taxes, hiring employees, and opening a business bank account. The article provides guidance on how to obtain these numbers, including applying for an Employer Identification Number (EIN) from the IRS and registering for state and local taxes. It also outlines the steps involved in applying for an EIN, such as completing an online application or submitting a paper form. The article provides links to resources and tools to help you navigate the process of obtaining tax ID numbers for your business. Overall, the article provides a helpful overview of the importance of obtaining these numbers and the steps involved in doing so.
Many more resources can be found on their website here: https://www.sba.gov/business-guide
Here are a few more resources that can help when launching a business:
IRS Small Business Portal: Small business tax inquiries can be addressed, and there is access to forms and publications, an event calendar, a video library, and other online tools and products.
Minority Business Development Agency (MBDA): Provides grant and loan information, business opportunities, and business certification resources to aid in supporting businesses within minority communities.
National Women’s Business Council(NWBC): Offers unbiased advice and policy suggestions to the U.S. Small Business Administration, the President, and Congress on economic matters of significance to women entrepreneurs.
U.S. Patent and Trademark Office: Grants U.S. patents and registers trademarks
Veteran-owned businesses (SBA resources): Funding programs, training, and federal contracting opportunities for veteran entrepreneurs
Women’s Business Centers(WBCs): Education centers for women business owners across the U.S. along with online resources
Women’s Business Enterprise National Council (WBENC): Provides assistance and education to certified women’s business enterprises (WBEs) and government entities