An Exciting Venture.
Starting a new business is an exciting venture. Sometimes people start one to have a side hustle. Sometimes a new business is a dream being brought to life. Whatever the purpose or need, here is the quick start to getting your business up and running.
If you are interested in being a sole proprietor, you can go ahead and put up a shingle. You'll use your social security number as the business EIN. The business is solely yours and solely your responsibility. Check with your insurance agent about how to best insure your business.
Many entrepreneurs want a different brand and perhaps a bit of separation between their personhood and their business. Here's how to start that structure easily and quickly:
Form a limited liability company (LLC) in the state where you live. This is done through the Secretary of State's office and there is generally a small fee to register ($25 - $100).
Get an EIN (employer identification number) from the IRS. This is a unique number to your business and is available for free on-line.
Open a bank account using the business certificate you get from the state filing and the EIN from the IRS.
Get liability insurance. Find an agent who can guide you to get what you need.
That's it. Quick and easy.
Don't stumble over a few steps to getting your business off the ground. Go get it. We're here to help if you get stuck.
-Mindy Muller, CFRE, President/CEO of CDP
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