Some people wind up agonizing over the details and take forever to start a small business. Did you know that it’s actually possible to start a small business in a few hours? If you approach things with the right mindset, then you can actually streamline the process quite a bit. Read on to discover how you can start a small business in just a few hours.
The Company Name Doesn’t Matter at First
You actually don’t have to take weeks to try to come up with the best company name. Many people don’t know this, but you can operate your business under a different company name than your business name. This means that it makes sense to just pick a name so that you can start moving forward. You can always change the name later and you can worry about the details for marketing purposes after you have set everything up.
Procure Your EIN
Procuring your EIN is an important step when you want to start your business. EIN stands for an employer identification number. You’ll need one of these if you plan to have employees or if you’re going to form a corporation, partnership, or an LLC. Getting one is free and you should do it even if you aren’t sure whether you will have employees or not.
Get Your Business License and Other Permits
Next, you’re going to need to take the time to get your business license and any other permits that might be necessary. There could be certain permits that you will need depending on specific laws where you live. This can also be different based on the type of business that you’re planning on starting. You can ask local authorities to get all of the information about what you will need to get things rolling.
Open a Business Bank Account
Finally, you should take the time to set up a business bank account. It’s for the best that you keep your business funds separate from your personal finances. This helps you to avoid potential drama and it makes things so much easier when it comes time to do taxes. Use your business name and your EIN when setting up the business bank account and everything should go smoothly.