These days it is indeed easy for some to register or incorporate a company. Gone are those days when you had to go through the hassles of filing several paperwork, wait for never-ending weeks for getting approved and pay a huge ransom for enjoying the privilege of being called a businessman. These days, while there are few who will still seek help of a business solicitor or an accountant to incorporate online, there are increasingly large numbers of people who are taking full control of their company from the very beginning and incorporating it themselves.
When you are the owner of an online business, you get the freedom to work from anywhere. They have very low start-up costs and if you’re still not sure about the ways in which you can start an online business, here are few you should consider.
Step #1: Select a business structure
Whenever you think of starting a business, the first step that you need to take is to decide whether or not you will operate as a corporation or a limited liability company or as a sole proprietorship. If you’re a husband and wife, you can work as a sole proprietorship as this is the simplest kind of business structure where you don’t even require too much of paperwork. If you wish to form an LLC, this is usually the more flexible option which also has reduced record-keeping.
Step #2: Determine the place where you want to set your business
You will have to form a corporation or an LLC by filing documents and details within the state you’re operating. It is always best to file documents in the state where you’re located as this will help you avert added costs of business registration. On the other hand, if your business has got a noteworthy identity throughout the nation, you may choose Delaware as the best state.
Step #3: Select a worthy name of your business
It is always worth taking some time to select a unique name for the online business. Make sure that the name you choose helps you in promoting your business, diminishes the chance of your business looking similar to some other one due to the similarity of name and increases the chance of receiving a befitting domain name.
Step #4: Receive a domain name
Once you’re done with the name, opt for a domain name registration. The online address which typically ends in ‘.com is actually the domain name. Research the internet to check the intended domain and the availability of the domain name. Once this is done, set an account, recognize the name and pay an annual fee.
Step #5: Set up your business finances
Next you have to take care of your business finances and get a tax ID number from the website of the IRS. In case you’re a single-member LLC or a sole proprietor you would need your Social Security Number.
Now that you’ve completed all the above mentioned steps, you are close to jumpstarting your online business. Find out ways for promoting your business actively through social media, online ads and many other strategies.