CareerPersonal Growth

How to Start a Small Business in a Few Hours

Have you been thinking about starting a business, but are intimidated by how complex a process it seems? That ends today. Jeff Haden writes for Inc. about how to build the framework of a business in less than three hours.

The Clock Starts in 3… 2…

First, remember that your business can operate under a different name than your company name with the filling out of a simple form, so it does not matter what you name the company right now. Grab an employer identification number (EIN), so that you do not need to broadcast your Social Security number instead. Register a trade name too if you do not plan to operate under your own name. Satisfy your city’s requirement to get a business license and do your best to estimate annual gross receipts if asked. Complete a business personal property tax form if it is required, and check with your locality if any further requirements must be met. If you will be dealing in taxable products, get a certificate of resale. Get a business bank account, preferably with a credit union in Haden’s estimation, and lastly set up a basic accounting spreadsheet, even if just in Excel, to keep track of money coming in and going out. This stuff is all a lot easier and faster to put together than it sounds. You can read the original article here:

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