When thinking of starting a business in California, this isn’t just about taking a leap of faith, or taking the risk. In order to protect investments and capitals, it is best to learn first about what it takes to start a business and to eventually run it.
There are many opportunities in California, especially when thinking of starting a business.
Steps and Guide to Start a Business in California
- It is important to research and plan the business the interested individual or party wants to start. There are many tools that can help plan a business.
- Be ready to listen to expert advices or attend business training. Certain local communities offer free training and counseling regarding starting a business.
- Next is to try and select a location.
- Financing a business is the next important step to starting a business. If the individual has no ready sources to finance a business there are ways to get financial help.
- Individuals might approach the local government for loans, venture capital and grants to help start a business.
- A business name is also an important part of starting a business. There are laws and regulations regarding selecting a name for the business. The chosen name will then be registered with the California Secretary of State.
- The next step is to determine the legal structure of the business. This means selecting whether the business is a corporation, non-profit, limited liability company or partnership. The structure will then have to be registered with the state of California.
- The business owner would also need to get an Employer Identification Number or EIN which is used to identify a business entity. This can be obtained from the US Internal Revenue Service.
- Once an EIN is obtained, the business owner must register for State Taxes.
- Before operating a business, it is important to obtain the proper business licenses and permits first.
- Lastly, try and attend a seminar on Employer Responsibilities especially for first time employers.
Finance and Grants for (Women and Others) Starting A Business In California
- Men or Women who are interested in starting a business can also ask for grants from government, private bodies or banks.
- There are many ways to get grants to start a small business in California.
- Requesting for a grant begins with a grant letter or proposal.
- The proposal is similar to a business plan. It states and enumerates the functions of the business, the services and products it offers, the company’s mission and objective, its targeted market, and financial requirements.
- In reality, grants are hard to come by and are usually offered to business with a purpose for research, continuing education, or technological development.
- Women and other interested individuals can approach the Small Business Association or SBA for an updated list of agencies offering grants and loans.
- The SBA can also help with tips and reliable information to help in obtaining grants.