Handle Your Business Now

Each year thousands of individuals decide to go into business. They have information, products, ideas, services, they wish to promote and make a good income at home. Are you one of those people? Well, if you are, there are a few thoughts you should consider before opening your business at home.

Business License And Permits:
Im assuming that you live in the United States. Each state has certain rules and regulations concerning business licenses. In order to obtain a license in most instances your place of business must stand up to certain health, building, and fire codes. If they dont meet the codes you will have to bring them up to standards before obtaining a license.

Home Business Types:
Even if you operate a home based business you might need a business license. Certainly, if you are running a day-care out of the home you will need a license. If you run a catering business you will certainly need a license. If you operate a beauty parlor in your home you will must certainly need a license. Check with your local authorities, city hall, the state department, local Small Business Association, for further important information. Begin your search here to find a local SBA office to apply for a business license.

http://www.sba.gov/hotlist/license.html

Zoning Laws:
Check to see if your business will violate any zoning laws. Most home-based businesses do not need to be concerned with zoning laws, especially if it is an e-commerce issue. Why? Simply because most of your work is over the Internet. And unless the clicking of computer keys disturbs your neighbors youre safe.

Do you live in a strictly residential area? Your home business might be illegal? Many businesses that store and sell dangerous material fall into this area. You might be in violation of specific zoning laws if your business is creating traffic problems or interfering with the neighbors in some way. Maybe, blocking their driveway. Or several delivery trucks arrive at your door daily causing traffic problems on a small neighborhood street. And the noise is bothering them. These rules are not to keep you out of business, but were put on the books to protect family residential areas. Again check with your local authorities before opening your biz.

Good information source: http://www.sba.gov

Business Records:
Accurate records are a must in a home based business. You will need clear records to show your profits and/or loses during any fiscal year. This is very important when tax time rolls around. Hire an accountant or at least a good bookkeeping service. They will help you set up a bookkeeping system and show you how to maintain important records for the tax man.

Are you on a limited budget? Learn to use simple accounting software or bookkeeping programs. You can download shareware versions online at:
http://www.shareware.com

Insurance:
Will your home owners policy cover your home business? Check into this by asking your insurance agent.

Checking Accounts:
Establish a checking account under your business name as soon as possible. Plan to keep your business and personal finances separate. That way, all business expenses can be easily separated and paid out of your business account. This will make it easier at
tax time when you prepare your financial statements for your business. Plus, you will appear professional when dealing with merchants.

Naming Your Business:
Forget the cutesy, catchy titles when naming your business. Use a memorable, easy to pronounce name.

First of all it is important to establish that the name you are using is not already that of another company. If you inadvertently use another organizations legal name you are in violation of their claim to that name or even trademark problems. Best to check with
state and local organizations or even consult with an attorney.

There is an easier solution online. It is easy to search for any local to international business name. Check the Internet by surfing to any sites with the name you have in mind. Most companies use their business name as their domain name (Bigshot.com) and so on. These sites provide public information about domain names.

http://rs.internic.net
http://networksoloutions.com/cgi-bin/whois/whois
http://unclaimeddomains.com

One of the easiest ways to solve the naming your biz problem is to use your own name or initials in your company title. For example your name is Martha Jones, you might call your Crafting Biz, Marthas Crafts,
MJ Crafts, or Marthas Craft Biz.

As you can see from this article pre-planning and thought to business requirements will save you many headaches in establishing your home business.
BB Lee (C)2001

About the Author

BB Lee is Editor/Publisher Of SmallBizBits
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