How To Start A Business — This Weekend!

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Step 1: Write a Business Plan

If you want extra money, maybe you should start a side hustle. If you want more freedom, maybe it's time to leave your 9-to-5 job and start something new. Once you have the reason, start asking. Building your own business from the ground up is an exciting opportunity, but it can also be challenging. Follow the 10 steps from the Small Business Administration (SBA) to starting a business. You’ll learn about writing a business plan, determining the legal structure of your business, and more. Want to start your own business? Here’s how to do it in nine swift steps You should absolutely try going into business for yourself. If you don’t you’ll always regret not giving it a shot. Starting a business isn’t easy, but it also doesn’t have to be daunting. Whether you want to bring a product into the world to solve a problem you’re having, build a profitable business to be self-employed, create business opportunities for the people around you, or bring in some extra money every month, these steps on how to start a. Starting a business is surprisingly simple-you just need to take the first step. Here's how to get through the administrative hurdles faster than you think.

Use these tools and resources to create a business plan. This 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.

How To Start A Business Plan

How to start a business &mdash this weekend 2020

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')

Register your business name with your state government.

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.

  • Internal Revenue Service - Apply for an Employer Identification Number (EIN) Online
How to start a business from home

Step 8: Register for State and Local Taxes

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

  • Obtain your Georgia State Tax ID number from the Georgia Tax Center
  • Report wage and tax information to the Georgia Department of Labor and pay any unemployment insurance taxes due on those wages
  • Georgia State Board of Worker's Compensation

Step 9: Obtain Business Licenses and Permits

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

How to start a business &mdash this weekend getaway

Step 10: Understand Employer Responsibilities

Go the extra mile: Stay Green!

  • Get a bike rack for your business
  • Get recycling set up for your business
  • Encourage your employees to explore alternative transportation options with Clean Air Campaign

Sources: Small Business Administration, City of Atlanta, State of Georgia

Open a restaurant
Special events permit

City

Invest Atlanta
Startup Atlanta
Office of Buildings
Office of Revenue
Atlanta Police Department
Department of Public Works
Department of Watershed Management

County

State

What Georgia employers need to know
Small Business Incentives from the Georgia Department of Economic Development
Georgia Business Guide
Community Development & Finance Division of the Georgia Department of Community Affairs
Georgia Chamber of Commerce

Federal

Small Business Administration
Small Business & Self-Employed Tax Center
IRS Small Business Tax Kit (free PDF download)

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How To Start A Business With No Money

By Mike Enright, Operations Manager, BizFilings

Starting a business is exciting—but also demanding. This guide addresses some of the most common startup steps to ensure your company is ready for success.

Prepare a business plan and materials

1. An important first step is preparing a business plan to define your business, products and services, and outline your goals, operating procedures and competition. If your company needs funding from a traditional loan or venture capitalists, a business plan will be required. Make sure your plan includes a marketing approach, so people are aware of what you're selling and how to find you.

2.Create a business logo, cards and stationery. These items establish your company’s identity and help potential customers find and remember you.

Meet legal requirements

3. Of course, incorporating your business or forming an LLC with the state is important because it protects your personal assets from business debts and liabilities. Other benefits of forming a corporation or LLC include tax advantages and greater credibility with customers, vendors and business partners.

4.Select an accountant and attorney. Many small business owners seek advice from accountants and attorneys. As you search for an accountant and attorney, get referrals from friends or family, and look for professionals who have worked with other small business owners or companies in your specific industry.

How To Start A Business Wikihow

5.Get necessary tax identification numbers, licenses and permits. A federal tax identification number, or employer identification number (EIN), acts like a social security number and is required for corporations and LLCs that will have employees. Contact your state's taxation department to learn if a state tax identification number is required in your state. Also keep in mind that most businesses need licenses and/or permits to operate—in your city, municipality, county and/or state.

How To Start A Business &mdash This Weekend 2020

6.Insure your business and investigate other requirements. Some industries have specific insurance requirements. Discuss your needs with your insurance agent to get the right type and amount of insurance. Remember to look into any other government tax and insurance requirements that might apply to your business, particularly if you have employees. For example:

  • Unemployment insurance
  • Workers' compensation
  • OSHA requirements
  • Federal tax
  • State and local tax
  • Self-employment tax
  • Payroll tax requirements (such as FICA, federal unemployment tax, and state unemployment tax)
  • Sales and use tax

Prepare yourself financially

7.Open a business bank account. It is crucial to separate business finances from personal ones. Most banks require company details, such as formation date, business type, and owner names and addresses. If your business is not incorporated, most banks will require a DBA (doing business as or fictitious business name). Contact your bank about requirements prior to opening an account.

8.Arrange your business accounting and apply for loans. You may want to use an accountant, or handle finances yourself with a small business accounting solution. Either way, properly account for all business disbursements, payments received, invoices, accounts receivable/accounts payable, etc. And if you don’t have enough capital to start a business, this is also the time to seek funding from banks or through Small Business Administration (SBA) loan programs.

9.Establish a business line of credit. This will help reduce the number of times your company prepays for purchased products and services. It also helps establish a strong credit history, which is helpful for vendor and supplier relationships. Getting a Dun & Bradstreet (D&B) DUNS (or D-U-N-S) number for your business is advisable, as it is often used to check business creditworthiness.

10.Ready your workspace. For home-based businesses, ensure you are meeting city zoning requirements for your area. For non home-based businesses, you'll likely need to lease office space. Don't forget to purchase or lease furniture and office equipment to get your business up and running.