If you are thinking of starting your own business yet you don’t know how or even where to start, then this article will help you. Well, take a look in on the things that you need to do to have a better idea of your endeavors. You have to think of the money for filing fee and all the necessary forms and address in the area.
Before you chart out a plan to begin new business ventures, it is important to register the company. Owing the business benefits, overseas company also prefer to register the business in the state. In the highly competitive world, it is essential that you make your business registered. So what are the steps that you need to take in order to register your business name?
Steps to Register Business Name
Step 1: Giving your business a name
Choose a business name. You need to select a name that will be appropriate for the business. It must be something that will easily be remembered by people. For example, if you have a business that deals with breads and pastries you need to choose a name that is associated with it. Choosing an attractive name and a defining company name is your first step to have successful business name.
Check the registered index of names. You can visit the government department that handles business registries. You can check the name of your business if it is not yet registered or if you have similar name in the lists. You have to know that according to the law, there must not have two the same name of business which is identical or exactly the same.
These indexes are available in the government department that houses all the registry of business. It is also advisable that you check the trade mark register in the state. Be sure that the proposed business name doesn’t infringe existing trademarks.
Other requirements that you need to acquire is the physical address that you have. This will act as address of the correspondence for the official communication.
Step 2: Registering your business
In terms of the registration process, you can fill out forms that will require details regarding the company assets and its liabilities and the policies with regards to the operation. After completing the whole registration process you can submit the copy of all the documents with the department. Here are a couple of things that you should do.
- File for local permits or licenses that are needed for the business
- Register your trademark if you have one
- Fill out papers for business taxes and submit them
Step 3: Signing up for Business Insurance
Registering your company is required if you are thinking of getting insurance or signing up for a merchant account at the bank. You’ll also be considered ‘legit’ when tax time comes. Another thing you should know is that for each state, it is different when it comes to registering your name. You might also have to apply for a business license, depending on what type of industry you are in. Some banks offer business insurance, otherwise at most car insurance places – they also have business insurance.