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Five Steps to Starting a Business


By Abe Cherian

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Five Steps to Starting a Business
By Abe Cherian
Copyright ? 2005


Starting a business can be a rewarding experience, but it
can also be very time consuming and difficult. Many
resources are available to assist you, but information
overload can cause you from moving forward.

Keeping it simple is often the best way of maintaining the
momentum necessary to get your business started. There are
a series of steps to ensure success.

The first step toward getting your business going is
deciding on a name Al Horford Youth Jersey , for example "New York Landscaping."
Any name that you do business under other than your own
given name is called a "fictitious" or "assumed" name, and
certain steps need to be taken in order for you to do
business under that fictitious or assumed name.

Depending on where you live, different government agencies
track which names are available. Look in your local phone
directory Gordon Hayward Youth Jersey , under government agencies to find the number, or
contact your local Secretary of State.

Check to find out if the name you want has been taken. If
it is available, you may need to file a fictitious or
assumed name certificate with the state or local fictitious
name office. Some areas will also require you to publish

a notice in the local paper about your new assumed name.
Both state and federal law regulates the use of names and
"trademarks". To avoid conflicts with other businesses
regionally or nationally using your business's name Paul Pierce Youth Jersey , or the
names of your products, you may want to consider
registering your trademark on the federal or state level.
Contact an intellectual property attorney for trademark
search and registration services.

The second step is knowing that different areas have
differing licensing and permit requirements depending on
the type of business you are going into. Most businesses
that require a license will have a local licensing
authority that can guide you through the process.

Find out the licensing requirements on federal, state Larry Bird Youth Jersey , and
possibly even local levels for your type of business and
get licensed. Failure to be properly licensed could result
in penalties such as fines, closure of your business, and
imprisonment in some cases.

The third step is getting insurance. When things are going
smoothly Bill Russell Youth Jersey , insurance can seem an unduly burdensome expense
on a small business. But when things go wrong, whether or
not you have insurance can mean whether or not you and your
business survive a catastrophic event like a lawsuit, fire Kyrie Irving Youth Jersey ,
or natural disaster.

Liability insurance protects you against liability in the
event of injury to others or damage to other persons
property. Liability insurers most often have two duties:


1. The duty to defend you. Hire a lawyer, if you get sued
and

2. the duty to indemnify you. Pay for damage or injury to
others. Both duties are extremely important, but the
first is often overlooked by small businesses.


The cost of defending a lawsuit can easily run into the
tens of thousands Al Horford Womens Jersey , or even hundreds of thousands of dollars
even if you win. That's why being careful is no substitute
for liability insurance.

Make sure you have adequate coverage for your vehicles and
those of your employees when used for business purposes.
You can be sued and held liable for injury or damage done
by your employees if it is within the course and scope of
their employment.

Property and theft insurance may be an important
consideration, as well as product liability or service
liability insurance. This is often called "errors and
omissions" coverage.

Interview a few local insurance brokers and find one that
seems knowledgeable and that you feel comfortable with.
Then ask the broker to do a risk assessment to determine
what coverages you might need and why. Remember, the
broker makes money by selling you insurance "products" so
be sure to question the types of coverage and amounts. If
your broker can't explain why he or she is recommending the
types and amounts of coverage in the risk assessment Gordon Hayward Womens Jersey , find
another broker.

The fourth step is recognizing and implimenting taxes. Sole
proprietors need to be conscious of local, state and
federal taxes and regis tore.com/]Wholesale NFL Jerseys China[/url]