Start....
Checklist for Starting a Business
Chose a physical address for your business- OK to have a post office box as well, but you will have to have a physical location
- Sole Proprietorship/Partnership/LLC/Corporation
- Have legal documents drawn up as necessary (Partnership Agreement)
- Trademarks/Patents/Proprietary information…SBDC is a good resource
- Have a lawyer on your team before you need them
- Read more here; http://business.ca.gov/StartaBusiness/DefiningaBusiness.aspx
Business Planning
To increase your chance for success, take the time up front to explore and evaluate your business and personal goals. Then use this information to build a comprehensive and well-thought-out business plan that will help you reach these goals. The process of developing a business plan will help you think through some important issues that you may not have considered yet. Your plan will become a valuable tool as you set out to raise money for your business. It should also provide milestones to gauge your success.
- You local Small Business Development Center (SBDC) offers low cost business training and business mentoring. Locate them by zip code here: www.asbdc-us.org
- The SBA website has some terrific tools including this Small Business Planner.
- Needed if the company name is different than your own. Required before you can open a business checking account.
- Obtained through county government. Go to your county’s website. If you don’t see Ficticious Name, look for business services. Counties vary, but you usually pay a fee and fill out some paperwork to file. They give you a list of approved paper and you pay another fee to run the notice in the paper. They will send you a packet, or you can pick one up.
- Determining zoning requirements prior to signing a lease or contract is imperative. You must check with your municipality to see if the type of business you plan to operate is legal in the desired location. If operating from home, you must follow the requirements for Home Occupations, (if any in your municipality)
- City Hall-Depends on business. $40.00- up depending on # of employees.
- Usually needed as soon as you begin trade in that municipality, but check your municipal code online.
- Frequently needed to buy wholesale
- Needed for most sales in California, and many services
- If you have a Sellers Permit you don’t have to pay sales tax on items you are reselling (and charging sales tax).
Special licenses or permits
The business activity type chosen determines the licenses and permits needed to operate a business legally. Some of the key contacts are listed below.
- The CalGOLD database (www.cal;gold.ca.gov) provides detailed information on the business permit, license and registration requirements from all levels of government. The information includes a description of the requirement, the name, address, and telephone number of the agency, and frequently, a direct link to that agency's Internet web pages. The information identified is specific to the type of business and its location in California.
- For a list of more than 200 regulated Occupations and Professional Services, contact:
State Department of Consumer Affair
(800) 952-5210 website: www.dca.ca.gov
- For the list of Police Regulated Business contact your local police department.
- For federal tax information and a copy of the “Small Business Resource Guide” an invaluable tool to help business owners understand the basics contact: Phone (800) 829-1040 www.irs.treas.gov
- State tax information and a copy of “Striking Gold in California”, which outlines state taxes for businesses: Phone (800) 400-7115
- Federal Tax ID #, the Social Security # for your Business (www.irs.gov) Fill out form SS-4
- Get an “Employer Guide” from the EDD (http://www.edd.ca.gov/taxind.htm)
- Workers Comp Insurance…MUST have it before hire employees (your insurance agent or State Fund
- Know the difference between employees and contractors ( www.irs.gov)
- There is a nice A-Z guide here; http://northcoastsbdc.org/hiring
- Liability and Property Insurance, maybe others. Ask your insurer, or phone book.
- ALL expenses and income need to be tracked. If possible set up a separate checking account.
- Set up Basic Bookkeeping Procedures.
A bookkeeper or accountant is a great investment. Questions to answer include;
-What to do with money coming in
-How to chart money going out
-What to be tracking daily/weekly/monthly/quarterly
Resources:
California Business Portal, www.business.ca.gov
Small Business Administration: Great site for business information, www.sba.gov .
CalGold: A comprehensive listing of every permit you may need, www.calgold.ca.gov
