Special delivery! It’s ME, Sambuca!
Happy Monday, peoples! Did you have a good weekend? Is your summer feeling like the feel-good hit movie it’s supposed to be? Did you put sunblock on your arms at the beach and throw your head back and laugh? Did you sing a song into a hairbrush? Did you run carefree through the streets? (I’m a dog so I do that all the time. Though by “streets”, I mean sidewalk. And by “run carefree” I mean walk respectfully on a leash.)
We were spending some time on SBA.gov this morning, as you do, and by chance, hit on their top rated reads. One of them was Follow These 10 Steps to Starting a Business and we thought, “Hey! WE do all of that!”
Did you know that a bookkeeper could be instrumental in starting a business? It’s true. You may think that a bookkeeper is someone you need once you’re up and running fully, when the bills start coming in and you need to start logging expenses and planning for tax time. But a bookkeeper, like us, could also serve as a powerful administration tool in those very early days when you’re just starting out. Here, we’ll show you. The italicized is from SBA.gov. The rest is from us.
Step 1: Write a Business Plan
Use these tools and resources to create a business plan. This written guide will help you map out how you will start and run your business successfully.
When you’re putting that business plan together, it’s a good idea to consult with people who already have put a business together- you know this. But what about consulting with someone who has put dozens and dozens of different types of businesses together? Someone like… that local bookkeeper you keep hearing so much about?
Step 2: Get Business Assistance and Training
Take advantage of free training and counseling services, from preparing a business plan and securing financing, to expanding or relocating a business.
We chuckled at this one because counseling services feels like such a natural part of our job! It’s a by-product of working so closely with you on your business.
Step 3: Choose a Business Location
Get advice on how to select a customer-friendly location and comply with zoning laws.
Zoning! Welcome to your first tango with red tape. We can help you with that.
Step 4: Finance Your Business
Find government backed loans, venture capital and research grants to help you get started.
Yes, yes and yes. A successful bookkeeper works with many businesses and can be a valuable networking tool- if you remember to use us!
Step 5: Determine the Legal Structure of Your Business
Decide which form of ownership is best for you: sole proprietorship, partnership, Limited Liability Company (LLC), corporation, S corporation, nonprofit or cooperative.
Um, yup! Covered.
Step 6: Register a Business Name (“Doing Business As”)
Register your business name with your state government.
We’ve got this too. No worries.
Step 7: Get a Tax Identification Number
Learn which tax identification number you’ll need to obtain from the IRS and your state revenue agency.
Yup. Us too. See how easy this is?
Step 8: Register for State and Local Taxes
Register with your state to obtain a tax identification number, workers’ compensation, unemployment and disability insurance.
Yes, sir. That paperwork will be handled right away, sir.
Step 9: Obtain Business Licenses and Permits
Get a list of federal, state and local licenses and permits required for your business.
Permits? We LOVE permits! Our friends call us Permit the Frog.
Step 10: Understand Employer Responsibilities
Learn the legal steps you need to take to hire employees.
Well, look at that! See how easy this is when you’ve got the right people in your corner? Spread the word!
RDS Bookkeeping has provided expertise in accounting and bookkeeping to small business owners and individuals throughout Chicago for over 8 years. We serve every client with thoughtful, efficient care and strive to go above and beyond so that you can do what you set out to do- get down to business. We are the proud founders of Pit Crew IL Rescue. Sambuca is our dog.