Start A New Business? A StartUp Guide For Entrepreneurs!
First Step: Sort out the Business DetailsThe first step while starting a new business is to sort out about your business details like business idea, company location, target audience market, etc. You must create and plan a business strategy and focus on it.
Second Step: Brainstorm About Company TypesOnce you have all the details sorted out then it’s time to make moves. When you have a company name set out, how do you know what type it’ll be? It can be a LLC (Limited Liability Company), INC (Incorporation) or a Sole Proprietorship. And as far as expenses go and investing into your business, how do you know how much to invest in and how to handle all the ins and outs of your expenses? Check the top differences while selecting LLC vs INC and decide which is better for your business?
Third Step: Check out Business Permits or LicensesDepending on the type of business you want to create, you must aware of all the permissions and licenses that are required.
For example, there’s gas stations, convenience stores, bars, restaurants, grocery stores, retail stores, and hundreds of other types of businesses. Each business requires a specific permit according to the type it is.
Fourth Step: Get The Best Advice from Expert CPAThere are several advantages and disadvantages of LLCs and INCs, etc. You may even have some questions on how to manage your employee payroll system, tax obligations, and/or bookkeeping. Also, once you create your business you’ll have to apply for necessary permits like selling alcohol, sales tax permit, tobacco permit, etc.
All of these questions plus more information can be answered by SG INC CPA. Feel free to give us a call at (214) 315-6392 or come visit our office in the Park Plaza Tower suite 150 Dallas, TX. We’re here to answer all your questions, help clear out any confusions, and lastly we can create your company for you just how you want it and take some stress off your shoulders.