You’re sick and tired of being an employee and don’t know what to do? Well, having a side business is actually not a bad idea, have you ever thought about it? Well, the majority of Americans have! Almost 50% of full-time and part-time workers are not satisfied with the income they have from their main office, and guess what? They side-hustle!
If you want to have a legit side gig that looks reputable and authentic, you have to choose a proper business structure and handle all those processes related to entity formation. What is more, you will have to understand everything that is related to operating a business, and we will help you with this!
Choose a Business Entity
The first step towards having a good and reputable side business is to choose a business structure that will match your needs and business expectations. The easiest way to side-hustle and make the best out of it is to become a sole proprietor.
As we said, it’s the easiest way to operate a business, but it’s not the best. After having enough experience with your sole proprietorship, you can convert your business to an entity that is better and more secure for your business, such as LLCs.
We know how stressful it is to handle all those complicated processes and paperwork that you will face while forming a business. This is why we have a simplified system that will help you become a business owner within just a few days. Should you have further questions, contact us!
Don’t Forget The Name!
So you have a business idea and want to realize it into reality. For this, you will have to deal with business entity formation, and of course, will need to choose a perfect name to attract customers!
However, there’s nothing more difficult than choosing a name, and you know why? Because you’re not the only one who’s doing that! Before doing anything official, make sure you check the name with Trademark Database, US Patent and Trademark Office.
To know more about names and competition in this industry, check this article from our specialists!
What About The Paperwork?
After properly researching the name industry and choosing it, you should start the “official” procedures! You will certainly need an EIN, Employer Identification Number. And by the way, according to the IRS, “you may apply for an EIN online if your principal business is located in the United States or U.S. Territories.”
However, the paperwork is not limited to acquiring an EIN! You will have to obtain must-have documents like Articles of Incorporation which have also been discussed in one of our articles!
Open a Business Bank Account!
Having a bank account is the right decision if you want to be more productive and of course, professional. Starting from the protection of your personal assets and ending with having a good reputation: everything is included in only one business bank account.
More information about business bank accounts and their advantages is here!
There’s nothing better than being your own boss and doing whatever you feel is right. For this very reason, you have to try to have your own business and do it in the best way possible! For more information on entity formation and what you can do to boost your business, contact us!