Getting Your Business Set Up. A Beginner’s Checklist.
I have put a lot of information in my blog thus far but I know I could have structured it a bit better. I have gotten many people asking for a step my step process on building business credit and that is very time consuming but I am doing what I can in the little spear time that I have. Here is a checklist that you can use in setting up your business. Please ensure that all of these steps are taken.
1. Incorporate or form an LLC.(I personally prefer a Corp to an LLC)
2. Obtain a federal tax id number
3. Obtain a d-u-n-n-s number. Click Here for Details
4. Get a separate business checking account. I personally love BOA for this. What I do not like is the lack of 24hr service..:S..but BOA will be my bank of choice. You can set the account up online. BOA = Bank of America BTW
5. Be in compliance. Different states have varying rules and regulations for various industries. Simply insure that you follow all guidelines. Most states do not require a Business License for internet businesses. If you are an internet business, incorporating should be enough to keep in compliance, but do your homework.
6. Get a business phone line and yellow page listing. Click here for more information
7. Get a physical business address. With increasing home based businesses, your home is fine for a business address. I do not recommend a UPS or Virtual office address.
I know many of these steps have been repeated but I just wanted to put a “checklist” in one place. If you think there is a step that I should add, please comment.
- mike
March 31st, 2008 at 12:29 pm
Well I think the list is okay, but how about those who do not live in the US. The procedure could and most certainly differ from state to state which you mentioned. How about from country to country?
March 31st, 2008 at 12:32 pm
hmmm
didnt think about that
I am not sure if you are talking about building business credit outside the US
but You can build business credit in the US from another country..
in that case, the list is almost the same
April 7th, 2008 at 9:56 am
good post. check my blog out. Similar info.
May 27th, 2008 at 2:24 am
I like B of A. But I am concerned with the fact they require a personal account to be opened too.
I sense they tie the business to the personal so if something goes wrong they get you personally liable.
I have nothing to hide, but the idea of a business account is to have it BUSINESS.
May 27th, 2008 at 10:53 am
yea
that seems to be true
February 8th, 2009 at 2:03 am
Chase offers online business checking setup. I have a personal account with them, but no information was required of my personal when I opened a business online.
February 8th, 2009 at 2:11 am
thanx a lot ironchip
February 8th, 2009 at 2:26 am
man i wish i would have found this blog prior to spending the money i did
, it’s cool though
February 8th, 2009 at 2:54 am
where did you pend money?