{"id":6483,"date":"2019-10-05T22:20:16","date_gmt":"2019-10-05T22:20:16","guid":{"rendered":"http:\/\/on-line-interactivity.com\/blog\/2019\/10\/05\/five-steps-to-starting-a-business\/"},"modified":"2019-10-05T22:20:16","modified_gmt":"2019-10-05T22:20:16","slug":"five-steps-to-starting-a-business","status":"publish","type":"post","link":"https:\/\/on-line-interactivity.com\/blog\/five-steps-to-starting-a-business\/","title":{"rendered":"Five Steps To Starting A Business"},"content":{"rendered":"<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div><p><body>&#13;<\/p>\n<div align=\"center\">&#13;<\/p>\n<p><a href=\"https:\/\/on-line-interactivity.com\">&#13;<br \/>\n  <img loading=\"lazy\" decoding=\"async\" border=\"0\" src=\"https:\/\/on-line-interactivity.com\/blog\/wp-content\/uploads\/2019\/12\/abbtop.jpg\" width=\"800\" height=\"120\"\/><\/a><br \/><a 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class=\"style7\">&#13;<br \/>\n                <font color=\"#FB7014\" size=\"4\" face=\"Tahoma\">Five Steps to Starting a Business<\/font><\/span><\/div>\n<\/td>\n<p>&#13;<br \/>\n            <\/tr>\n<tr>\n<td align=\"left\" height=\"19\">\n<div align=\"justify\"><span class=\"style2\">by: &#13;<br \/>\n                <font size=\"3\" face=\"Times New Roman\" color=\"#FB7014\">Abe  Cherian<\/font><\/span><\/div>\n<\/td>\n<p>&#13;<br \/>\n            <\/tr>\n<tr>\n<div id=\"article\">\n<td align=\"left\" height=\"12\"><span class=\"style2\">You may publish this article in your ezine, newsletter on &#13;<br \/>your web site as long as the byline is included and the &#13;<br \/>article is included in it&#8217;s entirety. I also ask that you &#13;<br \/>activate any html links found in the article and in the &#13;<br \/>byline. Please send a courtesy link or email where you &#13;<br \/>publish to: support@multiplestreammktg.com&#13;<\/p>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;-&#13;<\/p>\n<p>Five Steps to Starting a Business&#13;<br \/>By Abe Cherian&#13;<br \/>Copyright ? 2005&#13;<\/p>\n<p>Starting a business can be a rewarding experience, but it&#13;<br \/>can also be very time consuming and difficult. Many&#13;<br \/>resources are available to assist you, but information&#13;<br \/>overload can cause you from moving forward.  &#13;<\/p>\n<p>Keeping it simple is often the best way of maintaining the&#13;<br \/>momentum necessary to get your business started.  There are&#13;<br \/>a series of steps to ensure success.&#13;<\/p>\n<p>The first step toward getting your business going is&#13;<br \/>deciding on a name, for example &#8220;New York Landscaping.&#8221; &#13;<br \/>Any name that you do business under other than your own&#13;<br \/>given name is called a &#8220;fictitious&#8221; or &#8220;assumed&#8221; name, and&#13;<br \/>certain steps need to be taken in order for you to do&#13;<br \/>business under that fictitious or assumed name.&#13;<\/p>\n<p>Depending on where you live, different government agencies&#13;<br \/>track which names are available.  Look in your local phone&#13;<br \/>directory, under government agencies to find the number, or&#13;<br \/>contact your local Secretary of State. &#13;<\/p>\n<p>Check to find out if the name you want has been taken.  If&#13;<br \/>it is available, you may need to file a fictitious or&#13;<br \/>assumed name certificate with the state or local fictitious&#13;<br \/>name office.  Some areas will also require you to publish &#13;<\/p>\n<p>a notice in the local paper about your new assumed name.&#13;<br \/>Both state and federal law regulates the use of names and&#13;<br \/>&#8220;trademarks&#8221;.  To avoid conflicts with other businesses&#13;<br \/>regionally or nationally using your business&#8217;s name, or the&#13;<br \/>names of your products, you may want to consider&#13;<br \/>registering your trademark on the federal or state level. &#13;<br \/>Contact an intellectual property attorney for trademark&#13;<br \/>search and registration services.  &#13;<\/p>\n<p>The second step is knowing that different areas have&#13;<br \/>differing licensing and permit requirements depending on&#13;<br \/>the type of business you are going into. Most businesses&#13;<br \/>that require a license will have a local licensing&#13;<br \/>authority that can guide you through the process.&#13;<\/p>\n<p>Find out the licensing requirements on federal, state, and&#13;<br \/>possibly even local levels for your type of business and&#13;<br \/>get licensed. Failure to be properly licensed could result&#13;<br \/>in penalties such as fines, closure of your business, and&#13;<br \/>imprisonment in some cases. &#13;<\/p>\n<p>The third step is getting insurance. When things are going&#13;<br \/>smoothly, insurance can seem an unduly burdensome expense&#13;<br \/>on a small business.  But when things go wrong, whether or&#13;<br \/>not you have insurance can mean whether or not you and your&#13;<br \/>business survive a catastrophic event like a lawsuit, fire,&#13;<br \/>or natural disaster.  &#13;<\/p>\n<p>Liability insurance protects you against liability in the&#13;<br \/>event of injury to others or damage to other persons&#13;<br \/>property.  Liability insurers most often have two duties: &#13;<\/p>\n<p>1. The duty to defend you. Hire a lawyer, if you get sued&#13;<br \/>and &#13;<\/p>\n<p>2. the duty to indemnify you. Pay for damage or injury to&#13;<br \/>others.  Both duties are  extremely important, but the&#13;<br \/>first is often overlooked by small businesses.&#13;<\/p>\n<p>The cost of defending a lawsuit can easily run into the&#13;<br \/>tens of thousands, or even hundreds of thousands of dollars&#13;<br \/>even if you win. That&#8217;s why being careful is no substitute&#13;<br \/>for liability insurance.  &#13;<\/p>\n<p>Make sure you have adequate coverage for your vehicles and&#13;<br \/>those of your employees when used for business purposes. &#13;<br \/>You can be sued and held liable for injury or damage done&#13;<br \/>by your employees if it is within the course and scope of&#13;<br \/>their employment.  &#13;<\/p>\n<p>Property and theft insurance may be an important&#13;<br \/>consideration, as well as product liability or service&#13;<br \/>liability insurance. This is often called &#8220;errors and&#13;<br \/>omissions&#8221; coverage.  &#13;<\/p>\n<p>Interview a few local insurance brokers and find one that&#13;<br \/>seems knowledgeable and that you feel comfortable with. &#13;<br \/>Then ask the broker to do a risk assessment to determine&#13;<br \/>what coverages you might need and why.  Remember, the&#13;<br \/>broker makes money by selling you insurance &#8220;products&#8221; so&#13;<br \/>be sure to question the types of coverage and amounts.  If&#13;<br \/>your broker can&#8217;t explain why he or she is recommending the&#13;<br \/>types and amounts of coverage in the risk assessment, find&#13;<br \/>another broker. &#13;<\/p>\n<p>The fourth step is recognizing and implimenting taxes. Sole&#13;<br \/>proprietors need to be conscious of local, state and&#13;<br \/>federal taxes and registration requirements relating to&#13;<br \/>their businesses.  &#13;<\/p>\n<p>Hiring an accountant or bookkeeper to help set up a simple&#13;<br \/>accounting system, or using a software package is a good&#13;<br \/>place to start.  &#13;<\/p>\n<p>Hiring a tax professional knowledgeable about local and&#13;<br \/>state taxes relating to your business, or contacting the&#13;<br \/>local tax authorities before you begin generating revenue&#13;<br \/>or expending money can help you stay organized and be ready&#13;<br \/>for tax time.  &#13;<\/p>\n<p>Additionally, the IRS offers assistance for entrepreneurs&#13;<br \/>starting a small business in various publications.  You can&#13;<br \/>download IRS Publication 334, entitled &#8220;Tax Guide for Small&#13;<br \/>Business&#8221;, and Publication 583, entitled &#8220;Taxpayers&#13;<br \/>Starting a Small Business&#8221; from the IRS web site.&#13;<br \/>http:\/\/www.irs.gov &#13;<\/p>\n<p>The fifth step is hiring employees (if needed). Though many&#13;<br \/>small business people start out running their own shop,&#13;<br \/>success will often bring the need for expansion. When an&#13;<br \/>employee is added, you must obtain an Employer&#13;<br \/>Identification Number from the IRS. You can download Form&#13;<br \/>SS-4 from the IRS web site.  &#13;<\/p>\n<p>In the United States, the Workers Compensation scheme does&#13;<br \/>a lot to protect employers from lawsuits by employees&#13;<br \/>injured on the job, while also providing employees with&#13;<br \/>easier compensation for workplace injuries.  Be sure to&#13;<br \/>talk to your insurance broker about workers&#8217; compensation&#13;<br \/>insurance.  &#13;<\/p>\n<p>Talk to your tax adviser, and make sure you register with&#13;<br \/>your state for payment of unemployment compensation taxes.  &#13;<\/p>\n<p>Download IRS Form W-4 from the IRS web site to take care of&#13;<br \/>employee withholdings. You should get copies of INS Form&#13;<br \/>I-9 to verify your employees&#8217; eligibility for employment in&#13;<br \/>the United States.  &#13;<\/p>\n<p>Finally, issues regarding wrongful termination,&#13;<br \/>discrimination, workplace harassment, and other legal&#13;<br \/>issues have come to the forefront in today&#8217;s business&#13;<br \/>environment. Make sure you have an employment agreement&#13;<br \/>that spells out whether your employee is &#8220;at-will&#8221;. ex: can&#13;<br \/>be let go at any time without cause, or the terms of the&#13;<br \/>employee&#8217;s contract for employment.&#13;<\/p>\n<p>Make sure you Draft employee guidelines or an employment&#13;<br \/>manual to make sure there are no misunderstandings about&#13;<br \/>what expectations, rules and responsibilities are in place.&#13;<br \/>Document any issues relating to your employees well and be&#13;<br \/>proactive about handling disputes. A little planning in the&#13;<br \/>beginning can save a lot of headaches and legal expense&#13;<br \/>later on. &#13;<\/p>\n<p>In conclusion- hiring independent contractors is often a&#13;<br \/>good way to avoid the administrative burdens of hiring&#13;<br \/>employees, but be precautious. There are many pitfalls to&#13;<br \/>hiring an independent contractor who is for all intents and&#13;<br \/>purposes an employee. Talk to a lawyer and your tax advisor&#13;<br \/>about who is an employee versus a contractor.&#13;<\/p>\n<p>&#13;<br \/>\n About the author:<br \/>&#13;<br \/>\n &#13;<br \/>\n  Abe Cherian is the founder of Multiple Stream Media, <br \/>a company that helps online businesses find new <br \/>leads and more customers without spending a fortune. <br \/><a href=\"http:\/\/www.multiplestreammktg.com\" target=\"_blank\" class=\"navigation\" rel=\"noopener noreferrer\">http:\/\/www.multiplestreammktg.com<\/a><\/p>\n<p><font size=\"-2\">Circulated by <a href=\"http:\/\/www.geekzonehosting.com\">GeekZoneHosting.Com &#8211; Register a domain name and get hosting for your own Adsense Website just like this one<\/a><\/font>&#13;<\/p>\n<hr size=\"-1\"\/><\/span><\/td>\n<p>&#13;\n            <\/p><\/div>\n<\/tr>\n<\/table>\n<\/div>\n<p align=\"left\">\u00a0        <\/p>\n<p>&#13;\n      <\/td>\n<p>&#13;<br \/>\n    <\/tr>\n<\/table>\n<hr width=\"800\" noshade=\"noshade\"\/><a href=\"https:\/\/on-line-interactivity.com\/ADSENSEWEBSITES\">RETURN TO ADSENSE BUSINESS-IN-A-BOX MASTER ARTICLE INDEX<\/a><\/p>\n<hr width=\"800\" noshade=\"noshade\"\/>\n<div class=\"fb-share-button\" data-href=\"https:\/\/on-line-interactivity.com\/\" data-layout=\"button\" data-size=\"large\"><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https%3A%2F%2Fon-line-interactivity.com%2F&amp;src=sdkpreparse\" class=\"fb-xfbml-parse-ignore\" rel=\"noopener noreferrer\">Share<\/a><\/div>\n<p>&#13;<\/p>\n<div id=\"fb-root\"\/>&#13;<br \/>\n<script async=\"\" defer=\"defer\" crossorigin=\"anonymous\" src=\"https:\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&amp;version=v4.0&amp;appId=103650273035821&amp;autoLogAppEvents=1\"\/><!-- End of FACEBOOK SHARE BUTTON CODE --><span class=\"style6\"><br \/><span class=\"style2\">\u00a92019 - All Rights Reserved by <a href=\"http:\/\/HelpMeFindFreedom.Online\">HelpMeFindFreedom.Online<\/a><br \/><a href=\"http:\/\/www.website.ws\/kvmlm2\/my.dhtml?sponsor=geekzonehostingcom&amp;bannercode=gif002&amp;language=english\"><img decoding=\"async\" src=\"http:\/\/images.website.ws\/images\/english\/banners\/kvmlm2\/468x60_02.gif\" border=\"0\"\/><\/a><\/span><\/span><\/div>\n<p>&#13;<br \/>\n<\/body><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#13; &#13; &#13; &#13; &#13; &#13; &#13; &#13; \u00a0 &#13; \u00a0&#13; &#13; &#13; &#13; Article Navigation &#13; Back To &#13; Main Page &#13; &#13; &#13; \u00a0 &#13; Click Here &#13; for more articles &#13; &#13; &#13; &#13; &#13; &#13; &#13; &#13; &#13; &#13; &#13; &#13; &#13; Five Steps to Starting a Business &#13; by: &#13; [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-6483","post","type-post","status-publish","format-standard","hentry","category-adsense-business-in-a-box"],"_links":{"self":[{"href":"https:\/\/on-line-interactivity.com\/blog\/wp-json\/wp\/v2\/posts\/6483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/on-line-interactivity.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/on-line-interactivity.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/on-line-interactivity.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/on-line-interactivity.com\/blog\/wp-json\/wp\/v2\/comments?post=6483"}],"version-history":[{"count":0,"href":"https:\/\/on-line-interactivity.com\/blog\/wp-json\/wp\/v2\/posts\/6483\/revisions"}],"wp:attachment":[{"href":"https:\/\/on-line-interactivity.com\/blog\/wp-json\/wp\/v2\/media?parent=6483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/on-line-interactivity.com\/blog\/wp-json\/wp\/v2\/categories?post=6483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/on-line-interactivity.com\/blog\/wp-json\/wp\/v2\/tags?post=6483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}