Listen to Audio
Setting up a business is no easy task. There’re many different aspects to it that must be attended to. It doesn’t matter whether it’s a web studio or a construction company erecting single-family residential homes – there’s a lot to get busy doing.
In this article, we cover a few of the more technical and practical sides of setting up a new business.
Setting Up a Company
Whether you’re thinking about running your own construction company, an architecture firm, a web studio or something completely different, you’ll usually want to set up a corporation right away. Doing so avoids needing to scramble to organize it later when you’re already busy trying to run the new business.
Consider whether you’ll want to have an LLC or a corporation. Each has its respective pros and cons worth reviewing before arranging to register a business type.
Even the name of the company has considerations. For instance, it mustn’t be too similar to one that already operates in the same state and the name cannot already be registered there either. Each state has its own rules relating to naming conventions LLCs and corporation that must be followed to the letter.
Business License and Permits
Check what permits or licenses will be required to operate in the state.
Again, this differs from state to state.
Talk with a good local accountant who deals with small businesses in the state – they’ll know exactly what the correct process will be and how to proceed.
Organizing a Website Presence
Every significant business requires a web presence. While bar owners might be cheapskates and use a Facebook page, a corporation that wishes to be taken seriously certainly cannot.
Work with a good quality web studio to have a website created for you. In the first instance, using an existing premium WordPress theme is much cheaper than commissioning a unique design created from scratch. The studio can produce a new logo and customize an existing design from a premium WordPress theme to suit your needs without needing to reinvent the wheel.
The process is much less costly but also faster than starting from a blank sheet of paper. We’re talking weeks instead of months, which for new businesses is important.
What technology requirements will the new business have?
Will a line of new PCs be required with the latest Windows operating system, Office 365 subscriptions all-round, CAD design apps, or other specialized software?
Businesses do not operate in a vacuum – figure out what equipment is needed and what else will be required too.
What space will the business be operating from? While a web studio can be remote, a construction company or a restaurant business cannot.
Figure out what is required for office space, co-working areas or land. What will it cost to find it, lease it out and cover the rent? Also, the larger the space, the costlier it will be on utility costs, security considerations, and more.
There are many things to consider when starting a business. They will vary depending on the type of business, but there are commonalities too. However, when dealing right away with the practical and technical requirements, you get a jump start on what needs to be done.