There are many important rules and regulations to consider when starting a business, including those affecting employment and the environment. A business license, for example, is a necessity. To obtain one, contact the city or county government or the Small Business Administration. Other regulations include the Fair Labor Standards Act, which governs minimum wages, overtime rules, and child labor bans. These laws also cover things like record keeping requirements and the prohibition of discrimination and harassment.
In addition to the legal requirements for starting a business, you must consider how your business will be organized. You must consider the benefits and drawbacks of different organizational structures. For example, you should determine whether you want to create a corporation or a limited liability company. You should also check with the Secretary of State to determine what documents you need. You should file and update these documents annually. Luckily, technology has made it easy for many business owners to file their documents electronically.
While brainstorming business names is fun, filing taxes isn’t. It’s important to plan for all the moving parts and stay organized. These include registering with the government, promoting your business, and making key financial decisions. This brochure will provide you with some essential information to help you start your business.