| Posted By |
Message |
Bellaocchi
Hope Faith Love
Member since 2/07 5694 total posts
Name:
|
Questions for those who own a small business
PLEASE DON'T QUOTE :) I am thinking of starting a family owned business and in my research, so far these are the initial findings:
- Obtain a License
- Get liability insurance
- Come up with a name and Logo
- Marketing (business cards, word of mouth, social networking)
- Tools for the business
Am I missing anything?
Also, do you always need a license??
I guess you do right? That may sound like a stupid question. This is all new to me so I am trying to gather all my facts. Thanks.
Message edited 8/27/2010 3:57:50 PM.
|
Posted 8/27/10 3:52 PM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource |
AngnShaun
Sisters
Member since 1/10 21015 total posts
Name:
Ang
|
Re: Questions for those who own a small business
I would say that the license & insurance are the most important...
can you say what kind of business it is? that might make it easier for us to suggest other things you might need!
Message edited 8/27/2010 3:55:32 PM.
|
| Posted 8/27/10 3:54 PM |
| |
|
bicosi
life is a carousel
Member since 7/07 14956 total posts
Name:
M
|
Re: Questions for those who own a small business
business plan...
Incorporate
consult with an accountant.
Message edited 8/27/2010 3:55:05 PM.
|
| Posted 8/27/10 3:54 PM |
| |
|
kristin597
Mama!
Member since 8/08 1688 total posts
Name:
Kristin
|
Re: Questions for those who own a small business
I don't own the business, but my Dh does. He had to go through all the incorporation proceedings, I am pretty sure he had an accountant hand most of it. I don't know what kind of business you are looking to open but I believe all businesses need to be licensed by NYS.
|
| Posted 8/27/10 3:56 PM |
| |
|
Bellaocchi
Hope Faith Love
Member since 2/07 5694 total posts
Name:
|
Re: Questions for those who own a small business
Posted by AngnShaun
I would say that the license & insurance are the most important...
can you say what kind of business it is? that might make it easier for us to suggest other things you might need!
Right. Do you know about how much they cost?
|
| Posted 8/27/10 3:56 PM |
| |
|
AngnShaun
Sisters
Member since 1/10 21015 total posts
Name:
Ang
|
Re: Questions for those who own a small business
Posted by Bellaocchi
Posted by AngnShaun
I would say that the license & insurance are the most important...
can you say what kind of business it is? that might make it easier for us to suggest other things you might need!
Right. Do you know about how much they cost?
No, but i would imagine that that info can be found on a NYS government website...
|
| Posted 8/27/10 3:57 PM |
| |
|
Bellaocchi
Hope Faith Love
Member since 2/07 5694 total posts
Name:
|
Re: Questions for those who own a small business
Thank you Angnshaun
|
| Posted 8/27/10 3:58 PM |
| |
|
AngnShaun
Sisters
Member since 1/10 21015 total posts
Name:
Ang
|
Re: Questions for those who own a small business
Posted by Bellaocchi
Thank you Angnshaun
No problem... and good luck... Shaun has been thinking about doing this also... so let me know how much of a pita it is?? lol thanks!!!
|
| Posted 8/27/10 4:00 PM |
| |
|
KittyKatCopper
missing my handsome boy
Member since 3/09 1579 total posts
Name:
Kat - HamptonsBride (LIW)
|
Re: Questions for those who own a small business
This might help...it's a NYS site geared toward small businesses...good luck!
NYS Loves Small Business...
ETA: if you will have a website start looking at available domain names...and alternatives...if you will be incorporating you will be asked for alternatives to the name you want...so you want to make sure your website (if you will have one) and company name can be the same or very similar
Message edited 8/27/2010 5:21:40 PM.
|
| Posted 8/27/10 4:43 PM |
| |
|
Sassyz75
Turning a new page
Member since 5/05 9731 total posts
Name:
Dina
|
Re: Questions for those who own a small business
I have two small businesses.. one is a sole proprietorship, the other is a s-corp.
no, you don't need a license... you can figure out easily which professions require a license and which don't.
both businesses I am in do not require a license.
if you are selling a product or service where you are collecting sales tax, you will require a certificate of authority to collect sales tax from NY State..
You need a FEIN (federal employer identification number) as well- that's from the IRS...
You can have an accountant take care of all of it for about $500-700.00 or, if you are a sole proprietorship you can do it yourself online.. you need to file a DBA (doing business as) in the county you are operating in (if you are a sole prop).
You probably want to get going ASAP on liability insurance- that aspect recently took us the longest.. about 2 weeks to even get quotes!
edited to add- re: business plan- you probably don't need a FULL business plan, but you should do a quick feasibility analysis re: your business idea based upon reasonable conservative assumptions.. i.e. if you had a store is it a reasonable assumption to expect 15 people a day spending $25 at a pop equaling $375 in sales.. and if that is what you got, would that suffice, etc etc
one more thing- SUNY Farmingdale on Route 110 has a small business center.. you should check it out- they have excellent resources. SUNY Baruch in NYC has one too.
Message edited 8/27/2010 5:02:18 PM.
|
| Posted 8/27/10 4:58 PM |
| |
|
Bellaocchi
Hope Faith Love
Member since 2/07 5694 total posts
Name:
|
Re: Questions for those who own a small business
Sassy thank you so much!
|
| Posted 8/27/10 5:13 PM |
| |
|
|
|
Re: Questions for those who own a small business
Contracts that you will use with customers.
Small business loan for start-up funds?
Message edited 8/28/2010 7:01:49 AM.
|
| Posted 8/28/10 7:00 AM |
| |
|
LisaI
Momma's Little Beans
Member since 1/06 3923 total posts
Name:
|
Re: Questions for those who own a small business
business plan is essential.
|
| Posted 8/28/10 5:21 PM |
| |
|
colesmom
Brady's mom too!
Member since 5/05 1989 total posts
Name:
Lea
|
Re: Questions for those who own a small business
Stony Brook also has a small business center - completely free with invaluable resources.
Good Luck!
|
| Posted 8/28/10 5:44 PM |
| |
|
|
|
Re: Questions for those who own a small business
business bank account
decide what type of entity you want or need to be.
if you will have employees, you may need Workers' Comp. Insurance and unemployment insurance. I say may because you do not have to cover all business owners for Workers' Comp. in NY.
|
| Posted 8/28/10 9:46 PM |
| |
|
