No job is finished until the paperwork is done
Don’t do any of the things listed below until you are sure you have selected the right business. And a niche willing to buy what you’re selling.
When you’re ready to create your business entity everything starts by getting your Employer’s ID Number (EIN). Almost no other important business form can be completed without it.
It goes without saying, your state will require registration of your business with them. This could include registering to pay sales, use and franchise taxes, occupancy permits and many other things. Due to the diversity of requirements of the 50 states, we can’t cover those requirements here.
You could not serve your first customer until you were properly licensed. Depending on the type of business you chose to open, you might require licensing at the federal, state and local levels.
Getting a DUNS number from Dun and Bradstreet is not a requirement, however it is an indication you’re serious about being in business. Without it, it’s difficult if not impossible to get many types of contractual work. And, many other business building opportunities will also not be available to you. Before you serve your first customers you should make sure these minimum issues have been addressed. Now let’s look at issues you must understand once you’re open for business.