Starting a Business: The Basic Steps
Entrepreneurship is an important part of the American legacy. Creative and ambitious individuals have contributed greatly to our economy and culture. There also a number of personal advantages to running your own business: the freedom to follow your own ideas, the financial benefits of a successful plan, and the sense of accomplishment that comes with building and running your own company.
However, small business owners also face no small number of potential pitfalls. If you are thinking of buying a struggling business or starting a new one from the ground up, you will need qualified legal and financial counsel. To learn about state and local regulations that could affect your business plans, contact the Des Moines business lawyers of LaMarca Law Group, P.C. at (877) 327-2600.
Step by Step
Simply starting a business is not a very complicated undertaking. However, starting a successful business is a highly challenging task. To help you organize your thoughts, here are the basic steps of opening a new business in Iowa:
- Step 1: Plan carefully. What kind of product or service will you offer? Where will you place your main offices? What kind of employees do you need to hire? All of these questions and many more need to be decided on before you can achieve very much. This is also the time to copyright or trademark any of your original ideas.
- Step 2: Choose a business entity. You can have a sole proprietorship, partnership, corporation, or limited liability company. Each has different tax requirements and liabilities that can greatly affect your success.
- Step 3: Register your business’s name with the county clerk. Choosing a good name is very important; it needs to grab customers’ attention, sound promising, and be original.
- Step 3: Take care of your employees. Your responsibilities to them will depend on the size and type of company you start. You will probably need to provide workers’ compensation, unemployment insurance, and fair salaries. You also need to be familiar with anti-discriminations laws and IRS regulations.
- Step 4: Register your business. A lot of different entities are interested in your company. You will need to register with the IRS, the Iowa Department of Revenue, and probably local clerks. You will also need to research licenses and zoning laws for your area and type of business.
Contact a Des Moines Business Lawyer
All of the requirements and considerations for a new business can be overwhelming. Des Moines business startup attorneys LaMarca Law Group, P.C. can help you take on each task one at a time to maximize your chances of success. Contact us at (877) 327-2600.