10 Steps to Setting up Your New Home Based Business

You’ve done your research, found your specific niche and written your business plan, now you’re ready to start executing your work at home dream. By taking these steps you can help to ensure a successful launch of your work at home business.

1. First you will need to choose a business structure. Sole Proprietor, Partnership, Limited Liability Company (LLC), or Corporation. Each structure has its pros and cons, meeting with a lawyer or an accountant can help you to determine what structure best fits your needs.

2. Apply for an Employee Identification Number (EIN). Sole proprietors with no employees generally don’t need an EIN, but it can be useful in setting up a business bank account and protecting your identity. For more information on Employee Identification Numbers see my blog post on, “Do You Need an Employee Identification Number (EIN)”.

3. Checking zoning laws. Before you start your home-based business, you will need to check the zoning ordinances in your area. Check with your city or county government; some residential zoning ordinances forbid setting up a home-based business.

4. Naming your business. If your business name is something other than your own name, you will need to apply for a DBA – Doing Business As. You will need to do some research to make sure that someone else hasn’t already taken that name.

5. Apply for any applicable licenses or permits. Some occupations like realtors and electricians require state certifications and or license.

6. Apply for sales tax permits. Determine if you need to charge sales tax on your product or service by calling or emailing your States Comptroller’s Office. If it is determined that you need to charge sales tax, they can direct you to the appropriate forms to fill out.

7. Set up a business checking and savings account. Shop around for banks that don’t charge service fees. Apply for a PayPal account; this will be helpful for accepting credit cards and other online payments for services and goods.

8. Home Office. Designate a space in your home for your office, set up a second phone line for business purposes, a fax machine and computer hookup.

9. Post office box. If you want to keep your home address private, consider setting up a post office box for correspondence.

10. Get business cards and stationery printed.

Remember to save money before starting your new home-based business, not only does it take money to set up and run your business, but you may not see any profits for months or even years.

The Work at Home Woman is an online business resource and blog for women and moms who wish to work at home or become self employed! For more information, please visit: http://www.theworkathomewoman.com/