If you’re looking to start a small business in the United States, you need to understand the opportunities, challenges and requirements.
Thankfully, this guide is the complete checklist of everything you need to know about starting a business in the United States.
You’ll have to take care of a few things, which I will go through shortly.
One of the the most common goals for young Americans is to finally start their own business.
Therefore, depending on how serious the business might be, you might need a need a business website, or you might not.
Try it out.
Talk to any entrepreneur or small business owner. You’ll quickly learn that starting a business requires a lot of work, especially if you do not know what to do.
If you are a non-resident, it’s trickier, but possible.
Whatever the case, I will show you the processes involved.
How to Start a Small Business in the United States
Actually, starting a business in the United States is pretty straightforward.
Whether you’re a resident or not, it’s pretty simple to go about.
Starting a Business in the United States as a Resident
Getting Funding for your Business
There is a wide range of funding options to help start your business, such as government-guaranteed loans, grants, and other financial assistance.
You will need to consider the list above to be able to enjoy the opportunities available.
Tax Payments and Everything around it
It’s very important for your business to comply with federal, state, and local tax laws.
Every sane country has tax requirements for businesses.
Make sure to meet all federal tax requirements for starting a business. Read all the requirements from the IRS.
Each state has additional tax rules when you start and operate a business. Get information on state-level requirements.
Learn more about business taxes, including energy tax incentives that can help you save money.
In the United States, you’ll need proper insurance coverage to make sure you are protected.
Learn about health insurance plans to cover you and your employees, especially the Small Business Health Options Program (SHOP).
You are self-employed if you operate a trade, business, or profession either by yourself or with a partner, you need to understand the laid down rules.
Find out the basics of self-employment to help you succeed in the small business world:
- Starting and Financing a Small Business – Explore opportunities and get tips to help you succeed.
- Tax Information – Learn about filing requirements for the self-employed, reporting responsibilities, and more.
- Health Insurance – Explore coverage options for the self-employed.
- Social Security Information for the Self-Employed (PDF, Download Adobe Reader) covers how to report your earnings when you file your taxes.
Work from Home
Are you thinking about basing your business out of your home? The Small Business Administration’s 10 Steps to Start Your Business includes the licenses and permits you need to run a home-based business.
Home Office Deduction
If you use a portion of your home for business, you may be able to take a home office tax deduction.
Don’t be Scammed
Learn what to watch out for to avoid work-at-home scams. In one common scam, you may be tricked into paying to start your own internet business. These scammers will keep asking you to send money for more services related to this fake business opportunity.
Lol. Don’t fall for them.
To file a complaint about a scam, contact the Federal Trade Commission (FTC).
Federal Government Telework Guidelines
If you’re a federal employee looking for information on teleworking, visit www.telework.gov.
Note: The federal government never charges a fee for information about, or applications for, government jobs. You can search and apply for federal government jobs for free at USAJOBS.
If you want to get a commercial driver’s license (CDL), contact your state motor vehicle agency. More information about commercial driver’s licenses may be available from your state or regional Federal Motor Carrier Safety Administration (FMCSA) office or local commercial motor vehicle (CMV) driving school.
Congress passed the Commercial Motor Vehicle Safety Act of 1986 to ensure that drivers of commercial motor vehicles are qualified to operate those vehicles. States have the right to issue a driver’s license, but they must meet minimum national standards when issuing a commercial driver’s license. The Commercial Driver’s License (CDL) Program places requirements on the commercial motor vehicle driver, the employing motor carrier, and the states.
States are required to issue a commercial driver’s license to drivers with specific license classifications based on the type of vehicle. Drivers who operate special types of commercial motor vehicles need to pass additional tests. While the FMCSA sets the federal standards that states must meet, it is your state that determines the:
- Application process
- License fee
- License renewal cycle
- Renewal procedures
- Reinstatement requirements after a disqualification
States may also exceed certain federal standards in areas such as medical, fitness, and other qualifications.
I hope this article has helped you.
You will need these information to start your small business.
You might need to also know everything about starting a business in Nigeria.
Starting a Business in the United States for a Non-Resident
Ideally, non-residents are obligated to undergo the same process as those living in the U.S. when forming a business.
But there is a thin line difference.
For example, setting up a bank account, securing a visa, and international tax regulations are three of the procedures that non-residents find the most complicated.
But I’ll direct you to the entire process.
Read Jimmy Rodela’s guide on Setting up a Business in the United States as a Non-resident
All these will matter if you want a business with continued presence and not just something merely for the moment.
Do you have questions or inquires? Write a comment and you’ll be responded to.