Starting a New Business

Starting a New Business

Are you ready to turn your idea into reality? If so, here’s our guide to starting a new business:

Starting a Small Business: The Basics

The following organizations provide online resources and answers to frequently asked questions about starting a small business:


The Small Business Administration (SBA) has a small business planner that walks through all of the steps to plan, start and manage your new business and a Startup Guide which serves as a road map for starting a new business. They also offer an online courses section from which you can take any courses you want to help you in starting up.

More resources:

Business Licensing

SBA’s Guide to Business Licenses and permits

Use the available guide from the SBA to get the right federal and state licenses and permits. The guide sheet will include contact information and required forms for licensing your business, including Federal and State Licenses and Permits.

Your local Secretary of State

Visit your local Secretary of State to register domestic and foreign corporations, limited liability companies, limited partnerships, and limited liability partnerships. You can also register state-level trademarks and search for available business names.

Some Secretary of States’ websites are as follow:

A complete list can be found here.

Writing a Business Plan

Online business plan templates and tools:

Getting started on market research:

Download worksheets for financial projections from:

Small Business Startup Funds

The following resources offer tips and guides on how to secure business loans:

Business Finances

Managing your business finances require the right tools.  As a startup, what is exactly do you need?

Bookkeeping system

Set up a bookkeeping system that is appropriate for your business model. The widely available apps today makes it easier for startups to manage their bookkeeping and accounting needs. One example would be Freshbooks – a way much better alternative to spreadsheets (remember, spreadsheets are not accounting software!)

Business accounts

It is very important to keep personal and business expenses and income separate. Open a business checking and savings account as soon as you start your business. Many banks and credit unions now offer free business checking accounts.

Tax Information

Internal Revenue Service (IRS)

Your local Department of Revenue

Your state’s Department of Revenue answers questions about who is required to pay B&O Tax in the state your business resides, what the tax rate is and what credits you may qualify for as a small business on their website.

Some of the states are as follow:

Find the complete list here.

Business Insurance and Regulations

The following online resources explain business insurance requirements and options: