With more than 627, 000 new companies opening every year, it’s important for aspiring business owners to make sure they start their business on the right foot. If you’re an entrepreneur working on launching your own business, there are a few essentials that will make or break your company. Read on to discover exactly what you need to start a business.
1. Website
In today’s world, there’s no excuse as to why a business doesn’t have a website. In just a few minutes, you can create a free website for your company that will introduce your brand to the world. As the go-to for any interested potential customer or client, websites are the first step in creating a 24-hour online presence for your brand.
In addition to introducing your online audience to your brand’s products or services, your website will be able to act as a store, giving visitors the option to purchase from your company wherever and whenever. With a successful website, many businesses often never go on to opening a brick-and-mortar location as all their sales come through their website.
2. Business Cards
Though some entrepreneurs may believe the age of the business card is over, this is far from the truth. When making a first impression, entrepreneurs must do their due diligence to guarantee they are remembered. With the help of a business card designer, you’ll be able to design a creative and eye-catching card that provides future clients and collaborators with all the pertinent information they need to know about you.
In addition to improving your ability to network, these business cards otherwise help you boost brand awareness. As your cards will bare your business’ name, company logo, and slogan, you’ll be able to spread the word about your business with every card you distribute.
3. Separate Email Address and Phone Number
While many entrepreneurs don’t consider creating a new email account or getting a different phone number essential to starting a business, they should. Having a branded email address and a number dedicated to their new company speaks volumes about an entrepreneurs level of professionalism. While this detail may seem minor, it can be the difference between someone opening an email and answering a call or simply ignoring you.
With branded email addresses, an entrepreneur will be able to gain instant credibility as their business will seem more legitimate. Though free email accounts have their own economically-friendly appeal, having an address that reads “[email protected]” is instantly more attractive and than an email from any one of the free email domains on the Internet. Similarly, having a phone number dedicated to your business will help to make sure that no business inquiries fall through the cracks, guaranteeing that anyone who calls receives a professional response rather than something more casual.
4. Legal Documents
Anyone can start a business from their home or garage, but a few additional steps are required to make everything legal. In order for an aspiring entrepreneur to become a business owner, they must register the name of their business with the county clerk or their state. Limited partnerships, LLCs, or corporations often register their company’s name once they file the formation paperwork.
In addition to establishing yourself as a business in the eyes of the law, you’ll need to also apply for a Federal Employer Identification Number (FEIN) from the IRS. This FEIN is necessary if you hope to process payroll or open a business bank account in the future.
5. Permits and Licenses
Just as it’s essential to complete the necessary paperwork to become a business, it’s also important to file for the proper permits and licenses. While most companies do not need a federal permit or license, there may be situations in which you will be held responsible for obtaining this paperwork. For example, if your business participates in drug manufacturing, preparing meat products, investment advising, broadcasting, selling firearms, tobacco, or alcohol, or providing ground transportation, you’ll need the proper federal paperwork.
Take time to research which specific permits and licenses apply to your company. Once you’ve determined which ones you need, start filling out the paperwork and applying for these licenses and permits.
There’s no easy route to starting a new company. However, by following the above tips and investing in these business must-haves, you’ll be able to start your new company on the right foot.
Video – What is a Startup
A startup is either a very young or new company. However, not all new companies are startups. Watch this Market Business News video to find out what type of new companies are startups and which are not. If you are starting a business, how would you classify it?