How To Start A Home Based Business - The Basics For Beginning A Business

By Corey Landis

Congratulations you've decided to begin a home based business so you can earn money from home. What will you need to get started? Here a few basics you should consider.

Business Name - You could use your own name and many small businesses do. Or you could use a name that is more descriptive of what kinds of services or products you provide. File the name with the appropriate agency so it's protected from others using it. You can have more than one business name if you offer very different services or products. File the additional names as DBAs, Doing Business As, under the first original name. When you've decided on the name, register the domain that goes with it. Don't limit yourself to one domain if you have more than one DBA.

Website - These days every business needs a website, even if their market is strictly local. It's convenient for your customers to look at your website for location, phone, number, hours of operation, and your products. Your website doesn't have to be fancy, just straightforward and easy to navigate.

Business Cards - In this world of electronic communications you still need a way to give your business information on a face-to-face basis. A business card fills the bill. If you have a quality color ink printer you can design and print business cards yourself. There's no reason to spend hundreds of dollars.

Licenses - Check with your local city and state to see if a business license will be required. Most communities have regulations concerning running a business in your home, even a home based business, a residential area. If you're not increasing traffic, parking, creating noxious fumes or noise there shouldn't be a problem.

Identification - You may also want to establish a taxpayer ID with the Internal Revenue Service (United States). This taxpayer ID can be used instead of your personal social security number to establish a bank account, receive payments and of course file your business's income taxes.

Legal Entity Formation - Establishing a legal entity for your business separate from you personally also separates the business from your personal assets. There are a number of alternatives from a corporation, whether an S Corp or C Corp to a Limited Liability Corporation (LLC). Don't use the abbreviations of Inc. (incorporated) or Co. (corporation) unless the paperwork for becoming a corporation has actually started. If the business is owned by more than one person a partnership is a possibility as well.

Take care of the basics and your home based business will start earning you money from home.

Want to know more about how to make money on the internet, home based business opportunities and money making ideas? Find tips, tricks and articles at Making Money on the Internet Corey Landis contributes to 101 Ways to Make Money on the Internet and Make Money from Home

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