Mar, 2017 : What’s Necessary When Starting a Small Business?

📅 March 20, 2017 - Maybe you've considered entering into the business world with your own small business. There are many things you will need and some of them you may not be aware of. Here's a checklist of some of the best services, applications and other things you will need when starting your own small business.

Permits and EIN

Depending on the nature of your business and the state you live in, you may need to get a business permit, sales tax permit and EIN (Employer Identification Number). In some cases, you won't need all of this if you will be running a business without employees. Even if you plan to sell digital goods, you may need a sales tax permit, however.

Bank Accounts

It's always best to separate business from personal when it comes to finances. You want to get a business savings and checking account. If you don't plan to hire employees, you may still need an EIN for this process.

Business Insurance

The type of insurance you may need for your business can vary. Make sure you speak with an agent and get the type of coverage you need for your business and your business assets.

Tools for Email Marketing

If email marketing will be a big part of your strategy, which it should be, you will need the right tools. Constant Contact, MailChimp and Aweber all provide good choices for your email marketing needs.

Web Hosting Services

Taking your business online is vital to your success. You will need great hosting for your website, which means taking the time to actually look at the different choices. Make sure you take the time to compare a few choices before settling on your new web hosting services.

E-Commerce Tools

Some web hosting packages are geared towards those setting up an online store. This could mean you get e-commerce tools as a part of your hosting. If not, you may want to look into options, such as Zencart and Magento for shopping cart set up.

Contracts

You may need contracts with clients and with other businesses you buy things from. There are several great templates you can find on RocketLawyer, which will help you protect your business. You can always use an attorney for your contracts, as well.

Freelancers

It might be easier to run your business by sending work to freelancers instead of trying to hire employees. If you use freelancers, you will want to make sure you get a good price, but you also get a quality product. You can use freelancers for:

Content – Blog posts, newsletters, emails, service pages, etc.
Graphic Design – Logos, website images, etc.
Website Design
Social Media Marketing
Search Engine Optimization
And More!
Accounting

Whether you plan to handle your accounting on your own or hire someone to do it, you need the right choice. If you do it yourself, QuickBooks is the top choice for small business accounting. It will also work great for your CPA when it's time to file taxes, as most are very familiar with QuickBooks.

There are several things you need to start a business and this is just a short list. Your specific business may require even more. Make sure you have everything in order as just one thing could throw off your business and keep you from success.