Can anyone assist me with what type of paperwork needs to be filled out first to start a startup business? I can use all the help that I can get. Thank you for your time.
Answers
I totally agree with Heather. Make sure it works before doing all the paperwork required to have a business. Without knowing what business you have in mind is hard to advise. For instance let's say you are thinking of a restaurant. At that point, you have to incorporate in order to get all other permits. Perhaps you are offering a service, you can do that for a while without incorporating until you know it makes business sense and you want to go all in. If you provide more specifics or if you have a more specific question, we could help you with that.
Henry - I respectfully disagree (maybe, see the rest of my answer) with 1 suggestion by Mr. Crocker. For a while, until you have run your first "MVPs", you really may not need to incorporate. If it turns out your idea is not viable, you just did a lot of paperwork for nothing. Also, in some jurisdictions there are several types of business: sole proprietors need never incorporate. Ditto for limited partnerships. have a peek at this article for more details: https://www.legalzoom.com/knowledge/corporation/topic/sole-proprietor-corporation-partnership-comparison
A product is not the same thing as a company ... so if you have a product idea, my advice probably makes sense.
On the other hand, you may be talking about something more like a franchise (which I would not consider a startup).
You may want to consider the "Lean Startup", by Eric Ries. In that book, he talks about the different types of companies and why some really are not startups (a new gas station, for example, is NOT a startup, since it is already a proven product and business model).
Hope that helps!
-heather
The answer depends on the type of business. Your best bet is to go the nearest town that has that kind or similar business and ask the owner your question. I suggest the nearest town so that the owner would not be afraid of your competing with him/her.
Greetings Henry ...
Actually, one of the great things about the US is how easy it is to start a business:
1. You have to incorporate in some state. Different states have different processes. It is quite common (for instance) for companies to incorporate in Delaware (for a variety of reasons). Note that you do not need to live in a state to incorporate there - you can use a registered agent. In Delaware, for instance, here's one of the many that do it:
https://www.delawareinc.com/
Note 1 - You'll need to make sure your business name is not already in use; and
Note 2 - You'll need to decide which type of business you want to start (e.g., LLC, S-Corp, C-Corp, etc.). The type of business you choose affects how it will be taxed.
2. "EIN": You apply to the government for an Employer Identification Number. This is a Federal Tax ID Number that is the business equivalent of a Social Security number ... a unique number that will go on virtually any forms you fill out as a business (e.g., to open a business banking account, file taxes, and etc.).
I'm sure others here will flesh out many other aspects of getting started - but these are the two essential bare bones requirements. When you are incorporate, and have an EIN, you are legally ready to do business.
Hope this helps. Good luck!
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