Are you looking for ways to get your business idea off the ground and take a real form?
If you are, then you must be quite interested in the process that it takes to set up your business. Especially when it’s in a beautiful state like California which offers umpteen growth to new businesses. Being the leading state in terms of economy, it is time that you give wings to your business by setting up your base here.
Let us then go through the steps you should follow to set up your business in California below.
Develop a Business Plan
If you wish to start a new business anywhere, the first step is to have a rough business plan in your mind. It is obvious you will be able to develop a plan only when you have a business idea in your head. This business idea has to be nurtured and developed from the seedling level to the tree level, which you just envision beforehand. This includes envisioning the advertising, sales, marketing, structuring, branding etc.
Decide a Location For Your Business
When you’re starting a business, you might be interested in finding a location for it as well. Depending on the type of business and the dealings that would take place, you can take the help of the right authorities who would suggest you the places most suitable for your base. You can visit the California Business Investment Services unit of the Governor’s Office of Economic Development (GO-Biz) to find consultants who can guide you accurately.
Yes, you need funding to start your business. It is not possible for every entity to have a strong financial backing when they first start out. You can calculate what you already have and roughly find out the gaps and decide whether external funding is something your business needs or not. There are a lot of options that you can try out to get the funding you need and will get your business running. You can take the help of:
- Family and Friends
- Small Business Grants
- Loans From Banks
Choose a Business Structure
You should take care of this step quite early on during the process of starting your business in California. Choosing the best organizational business structure will be the deciding factor that will either make your business a success or not. You can form an LLC, a sole proprietorship, a corporation, a partnership, a non profit, etc.
Whatever business structure you choose, make sure it coincides with the goal you’re trying to achieve. You choose the right structure and your business to achieve both
- Enhanced credibility
- Legal Protection (in case your business gets sued)
Apply for Licenses and Permits
Your business must apply for special licenses and permits as per the laws of California. Not just the state, in fact applying and getting the right licenses and permits as per the federal, state, and local government regulations is primary when you think of conducting your business within any jurisdiction. Some important licenses and permits include:
- Business License
- Seller’s Permit
When you have successfully received all the relevant licenses and permits for your business, you can now go ahead and start hiring employees as well. It doesn’t matter if the business is online or offline, you need a good team of strong minded individuals who come together as a team. This step is not just to increase the business of the organization as a whole but to also be within the laws of the state which require businesses to register with the IRS for employee taxes etc.
Work on Your Branding
After creating a good offline and online web of business engagements you need to get down to working on the branding of your business as well. Whether it be by making your online presence strong or developing the right techniques to get your offline business up and running. Working towards the branding will ensure more profit in the form of organic leads and real life customers.