In my last couple of posts, I’ve written about the things you should consider when you’re starting a business. Nearly 7 million small businesses launch each year, and there are no guarantees of success, but there are a few things you can do to help ensure that your small business survives. Here are a few more tips to help you through the process of starting a business.
Three More Things To Do When Starting A Business
Take care of your state and locality. Getting an EIN from the IRS is only the first step in the tax process. You’ll also need to talk with your state government to find out what the tax process is when starting a business. States may issue a separate tax identification number or they may use the number the IRS provided. They will also have information about taxes that your business may need to pay, such as worker’s compensation insurance, unemployment insurance, and any special licenses or permits that your business may need to have.
Your locality/municipality may have additional regulations, requirements or taxes that you’ll also need to address. In most cases, local units of government are also responsible for conducting inspections and enforcing zoning laws. It may be a good idea to familiarize yourself with your local governments when starting a business.
Get your permits. Depending upon your line of work, you may need to obtain permits at the federal, state and/or local levels before starting a business. Make certain that you understand which permits your business needs, and who issues them. Also understand the permit application process, and the frequency with which these permits must be renewed.
Learn about your hiring responsibilities. Employers have a big administrative responsibility to their employees when starting a business. In addition, employers have new responsibilities to verify the identity and work eligibility of prospective employees. The documentation requirements for hiring personnel have changed, and making sure that you have all of your hiring processes in order is key.
If you’re in the process of starting a business, you’ll want assistance from knowledgeable, supportive personnel. Grantstreet Creative supplies marketing and branding support services for businesses of all sizes. When starting a business, having an experienced partner like Grantstreet Creative can make a big difference! If you’re interested in starting a business, contact our Creative Director, Dave Ramsell or give Dave a call at (330) 243-0651 to set up a marketing and branding consultation for your business.
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