When you are thinking of ideas to start your own business, make sure you choose an area of your interest as you will be self motivated and also enjoy going about the setup process.

Involve people who are close to you and can be trusted. Apart from the support they provide, you can also take necessary inputs and any other monetary or technical help from them in starting your own business.

When you decide to start new business, there are a lot of important decisions to make and there are many rules that must be addressed and procedures that must be done. While there is no single source for all filing requirements, the following 7 steps will help you in starting new business.

1. Select your business name
2. Begin with a business plan
3. Choose a business structure
4. Register your business
5. Tax obligations
6. Check licenses
7. Protect your idea

Select your business name

Choose a business name. Ideally, your business name should convey the expertise, value and uniqueness of the product or service you’ve developed. A sole proprietor may conduct business under their own name or they may choose to use an Assumed Business Name.

Begin with a business plan

Business plans are working documents that strategically guide your business, and are invaluable for obtaining financial support and backing. A business plan is a checkpoint of every aspect of your business. Sales, marketing, advertising, promotion and location are just some of the aspects of creating a plan.

Choose a business structure

Select a business entity type from the following list for a brief overview of the principal types of legal business structures available. A legal representative and accountant should be consulted before making a determination as to the type of business entity to form.

• Sole Proprietorship
• Corporation
• Nonprofit
• Limited Liability Company
• Limited Partnership
• General Partnership
• Limited Liability Partnership

Register Your Business

You can do it on your state’s business site. All you have to do is fill in your info and they do all of the filing with the state for you and they just mail you your documents that you put up in a safe place for your records.

Tax Obligations

Understanding your tax obligations is an important consideration for any business. Learn about requirements to report personal property to your county assessor’s office. You will also need to check on other taxes that may apply to your business.

Check Licenses

Many occupations and business activities require special licenses, permits, or certifications from state agencies or boards. Cities and counties may also require businesses to have a license or permit in order to operate. Please check with your city and county government to determine the license, permit, or zoning requirements for your area.

Protect your idea

Learn about registering Patents, Copyrights, Trademarks, and Service Marks. Some business activities will require you to contact the Department of Environmental Quality.

Determine if you comply with the Americans with Disabilities Act (ADA). Many businesses are subject to this federal law that prohibits discrimination against disabled persons.

Many occupational or business licenses require annual renewal. Please check with the specific licensing agency for specific requirements.