REGISTRATIONS AND REGULATIONS
1. Establish a business location
Licenses, permits - Check with the local town or city hall regarding permit, zoning, and licensing requirements for your specific business and location
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Lease or rent agreements - Read carefully before you sign any applicable agreements - seek legal advice where necessary
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2. Select a name for your business
Business name - Choose a name that will be easy for customers to remember and that stands out from your competition
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URL - Consider how your business name may translate into a name for your website
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3. Choose a business structure
Review "Types of Business Entities" in BUZGate FAQ's to understand the types of business formations available for establishing your venture. For additional advice on which type to choose, consult with your accountant or attorney
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4. File for an Employer Identification number (EIN) with the IRS
This must be completed if you plan on having employees work for you and is useful for a variety of other purposes. Visit "Obtaining a Tax ID" section in BUZGate FAQs for an EIN application
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5. Business Law
Do you know which business laws you must obey?
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Do you have a lawyer that can help you with your business law needs? Go to the American Bar Association and locate an appropriate lawyer in your area (http://www.abanet.org )
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INSURANCE
1. Determine your business insurance needs
What insurance will you need to protect yourself and your business? Review the listing in the prior section
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Work with a qualified professional and purchase an appropriate policy - do not hesitate to interview more than one provider - three is a good reference - You want someone that you can trust and depend on to help you
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RECORD KEEPING
1. Plan a system for recording important financial information
Seek the advice of an accountant or consultant to understand how to set up a bookkeeping system and provide for regular reports, filings, and review
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Do not start your operation until you have a bookkeeping system in place!!
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2. Plan a system for recording and paying taxes
Work with an accountant or consultant to determine what taxes you must pay and when - check the IRS website: http://www.irs.gov/businesses/small/article/0,,id=176080,00.html
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If you plan to have employees, you will need a system for deducting taxes - consider a payroll service
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3. Plan a system for recording and tracking inventory levels
Determine what level of inventory is needed to operate the business and use a tracking system
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3. Plan a system for planning, recording and tracking employees time
Set up a planning and tracking system to make sure that all important tasks are covered - Check BUZGate Free Tools for tracking tools
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ADVERTISING
1. Advertise your business and location
For physical locations choose a sign that is easily read by passing customers and attracts attention (make sure you check local sign ordinances)
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Internet presence - for a web-based business (or any other), work with a professional to develop a functional website that serves your business purposes
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Website visibility - Work with a professional to implement a website awareness campaign; search engine optimization, reciprocal link strategies (see the Web Marketing article )
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Select and promote your opening date - plan how to advertise to your target market
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UTILITIES
1. Make arrangements for needed utilities
If home-based, select telephone and Internet service that well support the business use - and is separate from your home use - Shop around!!
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If operating out of a location other than your home, you will need to arrange for utilities (heat, electricity, phone, etc.)
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EQUIPMENT and SUPPLIES
1. Decide and purchase necessary equipment, technology and supplies
Determine what equipment, and related systems you will need, and choose a reliable vendor
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Build a relationship for repeat orders and support
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Choose your computer vendor carefully - you may well need set-up support and ongoing service, so make sure you are not just getting a great bargain - make sure that they have references and are reliable as well
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