In order to get your company set up properly, and before you can formally register your business, you must make final decisions on your business identity. What is a business identity? It's the legal structure under which a business operates, name under which it does business and website address it is known by. Take time now to understand and finalize your choices in these areas. Even if you are already pretty committed to a name or structure, it is never a bad thing to make one final review of your options. Each will have a daily impact on your business, and making changes once you have started can be a pain.
As intimidating as selecting a business structure may seem, it is easier than it sounds. Most home businesses typically choose to operate as a sole proprietorship, however, it is a good idea to consider each option. Learn more about the pros and cons of each business structure and why you need to consider how risky your business is before making a selection.
In the grand scheme of things, does a website address really account for that much of your business identity? Yes. In today’s world, a good and memorable website will generate greater traffic which translates into greater revenue. As the availability of good website domains continue to decrease, it is becoming necessary to check into website availability before getting too far into the business naming process. Learn more about selecting a good website name, which domain extension is best and how to check on a domain's availability.
Now that you know how to establish a business identity, learn Step #8, How to Register Your Business...