How to start a business: the simple steps you need to know.
It can be very overwhelming to start a new business. There are so many steps to take to get it off the ground, so where do you even start? A good place to start is to get your business registered in your chosen state.
The first step to register your business is to choose your business name. Many state registering websites will allow you to search if certain names are available or will have links to other sites where you can search your possible business names to determine what names are available. The name of your business is very important. Choose a name that is simple but memorable, something that isn't too close to the name of a competitor, and a name that is consistent with your brand.
Once you have a name, you need to determine what legal structure is best for your business. Whether you choose to be a Sole Proprietor, Partnership, Limited Liability Corporation (LLC), or Corporation, the business structure you pick will determine how much of your personal assets are at risk, the amount of taxes you pay, and how your business will operate on a day-to-day basis.
The next step is to register your business with the appropriate state agency. Most small businesses just need to register their name with the state government where the business resides. You can choose to register your business federally as well if you want to trademark your business, brand, or product, or if you want your business to have tax-exempt status. Registering your business with the state requires you to have a registered agent to legally accept mail and important documents on your behalf.
Choosing the right registered agent for you and your business is important. Luckily there are many registered agent services that also provide other helpful services such as virtual offices. Being able to have your registered agent and virtual office address in the same place is very helpful for mailing and business purposes.
After you register your business with the state, the next most important step is to acquire a business address. Having a virtual office address for your business is an extremely affordable option compared to renting out a physical private office space.
SMK Business Solutions offers assistance in business formations, registered agent services, and virtual offices! If you are looking for a one stop shop for opening your business, SMK has you covered. We currently have offices in Wyoming, Texas, South Dakota, and are working to expand!
