First Step- Forming an LLC
A large part of society tends to believe that to start a business you only need to initiate a business formation, such as a Limited Liability Company a.k.a an LLC. Let’s discuss the elephant in the room. This is only partially true. We’ll discuss this further, soon. According to eig.org, “Americans filed 5.5 million applications to start a new business in 2023, nearly 1.8 million of which are highly likely to hire employees.”
When it comes to the best service provider for LLC formation services, we recommend Bizee by Incfile to our viewers for the sole reason that it is the option with the most bang for your buck. Their platinum level package is without a doubt the best formation package online. For $299 + state fees, it’s a no brainer for the amount of perks you receive. Check it out for yourself if you’re ready.
Although you can operate as a sole proprietorship, when you form an LLC, you set yourself up with some pretty hefty benefits right out the gate.
One benefit that can be fairly under rated is the legal protection of your personal assets in the event that your LLC undergoes adverse legal consequences.
This can happen at any time so when starting a business, forming an LLC is crucial in our eyes in order to be prepared. You can form your LLC, obtain an EIN for your business and hire a registered agent service all in one spot.
Shield your assets with an LLC!
Opening a Business Bank Account
When you start a business by forming your LLC, you can now open a business bank account.
Opening a business bank account is a must if you are looking to start a business. This will keep your personal money separate from the businesses money.
Don’t worry, you can take an owners draw by writing a check to yourself from your business in most cases (be that a percentage or set amount).
Opening a business bank account is your second step when you start a business in the United States.
Publication of Articles of Organization
When stating a business, if you have formed an LLC, in a number of states you must publicize your Articles of Organization(you can get this once you form a business). Sometimes, you can also just post a “GRAND OPENING” ad.
Business License Obtainment
Depending on where you start a business, you may need a business license. Sometimes you will need one for the county, city and state.
Read More: Bizee has an article “How to Get a Business License in All 50 States”.
Business Insurance
Most businesses should now obtain business insurance. Sometimes this can be overlooked, because some people tend to think that if they are not operating heavy machinery, there is no reason to get business insurance. This is simply not the case. Most businesses should obtain business insurance whether they are a one person consultancy business or a lawn mower.
Obtaining business insurance when you start a business can protect your business from any perceived damages done (be that emotional, mental or physical).
InsuranceBee is a top business insurance provider. They are a one stop shop company to receive a business insurance quote when you start a business.
They have partnered with other companies, so if they cannot insure you for whatever reason, they will work hard to get you insured by one of their partners.
Once you start a business by forming your LLC, obtaining an EIN and a Registered Agent, head on over and receive a business insurance quote from InsuranceBee.
The Thrilling Conclusion
We have talked about how you can start a business from square one. Starting with forming your LLC, and moving on to opening a business bank account. Then we took a look at publicizing your new formation, business licenses and business insurance. Don’t let yourself develop analysis paralysis by not making the first move! The company we recommend for business formation services has a very comprehensive package, and it’s set up to where you can form your LLC, obtain EIN and a professional Registered Agent service in one spot. Take the first step today!
Not sure which business to start?
Read our article, “23 Simple Small Business Ideas You Can Start Today”.