10 Steps to Start Your Own Small Business

Feeling inspired to start your own small business but have absolutely no idea where to start?

Here at the Florence Chamber, we’re passionate about helping businesses grow and connect and part of that means having a plan in place.

So, here’s where you start- with the 10 steps to starting your own business, courtesy of the Small Business Administration:

10 Steps to Starting a Business

Starting a business involves planning, making key financial decisions and completing a series of legal activities. These 10 easy steps can help you plan, prepare and manage your business.

Step 1: Write a Business Plan

Use available SBA tools and resources to create a business plan. A written guide will help you map out how you will start and run your business successfully.

Step 2: Get Business Assistance and Training

Take advantage of free training and counseling services, from preparing a business plan and securing financing, to expanding or relocating a business.

Step 3: Choose a Business Location

Get advice on how to select a customer-friendly location and comply with zoning laws.

Step 4: Finance Your Business

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

Step 5: Determine the Legal Structure of Your Business

Decide which form of ownership is best for you: sole proprietorship, partnership, Limited Liability Company (LLC), corporation, S corporation, nonprofit or cooperative.

Step 6: Register a Business Name (“Doing Business As”)

Learn which tax identification number you’ll need to obtain from the IRS and your state revenue agency.

Step 7: Register for State and Local Taxes

Register with your state to obtain a tax identification number, workers’ compensation, unemployment and disability insurance.

Step 8: Obtain Business Licenses and Permits

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

Step 9: Understand Employer Responsibilities

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

Step 10: Find Local Assistance

Contact your local SBA office to learn more about how SBA can help.

Startup Resources

There are a number of available programs to assist startups, micro businesses, and underserved or disadvantaged groups. The following resources provide information to help specialized audiences start their own businesses.

You can save money when starting or expanding your business by using government surplus. From commercial real estate and cars, to furniture, computers and office equipment, find what you need for your business in one place.

To read the entire article and for more links and information, click below:

10 Steps to Start Your Own Business