Starting a Small Business
If you’ve decided to start a new small business, you may be surprised about how complex the process seems. But starting a small business is much easier if you know where to start.
We’ve created this guide to help our readers better understand how to start a small business. We provide you with three steps that you should take to open a business – each step has various articles that cover the topic in more depth. Make sure to read through all the content on this page if you want to be as prepared as possible for starting your business.
Step 1: Create an Innovative Business
The first step in creating any business is coming up with an innovative idea. It’s important that you start a business that’s in a niche that you can dominate. You don’t want to enter a saturated market unless you know you can offer something new. Below are different articles that help explain different ways to help you start an innovative business. Check them out.
Starting Your Own Nonprofit
If you’re thinking about starting a business with a particular social benefit or charitable goal in mind, you may want to consider opening up a nonprofit business. Nonprofits are able to take advantage of particular tax benefits – it can help you ensure that all your organization’s income is used to benefit the cause you’re supporting!
12 Creative Business Ideas
As mentioned previously, it’s important to make sure that you create an innovative business. One of the best ways to do so is to get creative when determining what type of business you want to own. If you haven’t already decided what kind of business you will be opening, make sure to check out our 12 ideas.
Creating an Effective Online Business
Starting an online business is one of the easiest ways to begin a company. It has minimal barriers to entry – it’s accessible to anyone, on any budget. It’s important to make sure that you create the most effective business possible – competition is tough.
Finding the Right Name for Your Business
Your business’s name is one of the most important components of your brand. It’s important that you choose a name that is recognizable by consumers. You also want to make sure that you choose a name that can easily be branded for the future. Make sure to take a few important steps if you want to ensure you have the right name for your business.
Step 2: Start Planning
After you decide on a business and what name you want to call it, you need to start planning to open. It’s important that you set aside as much time as possible to plan your business. Being underprepared is one of the easiest ways to fail. Below are some additional articles on planning a business.
How to Apply for an EIN
Your Employer Identification Number, or EIN, is one of the most important parts about preparing for your business to open. You need one of these if you’re going to pay tax on your business income.
Business Structure: Which is the Best for My Business
Deciding on which way to structure your business is another important decision that you have to make. The type of structure you choose will determine the benefits that you receive. Researching and understanding each business structure is an important part of being prepared to open your business.
Registering Your DBA
A Doing Business As, or DBA, is a registered name that you use to conduct business. If you’re planning on conducting business under a name that is not your own, you’ll need to register for a DBA. Regulations will differ by state.
Obtaining the Right Business Licenses
All businesses have to obtain various licenses and permits if they want to conduct business in the United States. It’s your responsibility to know which licenses you need to apply for.
Step 3: Fund Your Business
Funding your business is one of the most important components of starting a business. Without funding, there’s no way to get your business off the ground. It’s important you understand the different types of finance available to you. Below are articles detailing the different options you have at your fingertips.
Preparing Your Business to Qualify for Finance
Before you apply for funding, you need to make sure that you qualify. This article will help you understand ways to help prepare your business to apply for any type of loan. If you need operating cash while waiting for invoices to be paid then consider invoice finance.
How to Get a Business Loan: 6 Steps
If you’re worried about the loan process, it’s actually much simpler than you think. This guide will help explain the process in six simple steps!
Small Business Grants: Free Cash to Start Your Business
You don’t have to apply for finance to get funding, there are plenty of small business grants that give you access to free capital. It’s all about knowing how to approach the subject. This article will help you understand where you can find small business grants to help fund your business.
Startup Business Loans: Where to Find Funding in 2018
If you’re just starting your business, it can sometimes be hard to obtain finance. Not many lenders will want to take a risk on a borrower who has no business lending history. But there are some ways that you can obtain finance if you need it – check out this article for some tips on how to get your first business loan.
As you can see, there are a range of different issues you need to resolve if you’re going to start a business. But don’t let this deter you – as long as you’re organized and follow the advice provided in these articles, you will find that your business is up and running in no time.
We’re experts on small businesses and small business funding. If you need any additional information, make sure to check out some of the other content on our blog. We aim to ensure that all our readers are as well informed as possible!
Michelle worked at a teller at her local bank while she was earning her degree in economics. Then, after completing an MBA, she came back to the bank as a loan officer. As a result, Michelle is uniquely suited to providing advice to small businesses when it comes to selecting the best loan and credit products.
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