Considering starting a new business but not quite sure where to start? It can be tough to ensure you register for the right licenses, taxes and permissions in your local area. Setting yourself up correctly is vital to ensuring your business can legally operate in your local area. This article will examine what you need to consider when registering a new business.
File For Taxes
When you set yourself up as a new business, you must register for taxes depending on where you are based. In the US, you must file your state and federal taxes; in the UK, you must register with HMRC. Make sure you pay the taxes appropriate to the business structure you have set yourself up under, whether a sole trader or a limited company.
Apply For A Small Business Permit
One of the most important things you need to know as a small business is whether you need a permit. In the US, you may need to apply for a small business license and check what you must apply for at a state and federal level. Many of the licenses you apply for will depend on your business type: agriculture, aviation or liquor license.
Make Sure You Have The Right To Play Music
One of the most overlooked licenses for new businesses is their right to play music. In the US, you must be licensed to play, use, or perform music in your business. Fortunately, there are music licensing companies for businesses that can help you assess whether you need to obtain a music license for your company.
Licenses For A Physical Business
If you are running a physical business, you must ensure you apply for all the relevant licenses and insurance requirements at the state and federal levels.
Licenses you may need to apply for include:
- Permits for planning, zoning or building.
- Permits to use particular signage.
- Permits to prove you are fire-safe.
If you aren’t running a business in a set location but are traveling to other areas, you might need specific industry permits to run your company in particular locations, like hair salons, clearance to work with children, warehouses or medical practices.
If you are running specialized businesses, you may need to reach certain standards or qualifications before you launch. This might include obtaining certain plumbing, electrical, or fire-safe qualifications before you launch an equivalent business. Research the business you plan to launch and the qualifications you might need at a federal and state level.
When you start your own business, a key part of registering is to apply for all the relevant licenses and permits at both a state and federal level. This includes applying for a small business license and the relevant licenses to your sector, e.g. alcohol, aviation or agriculture permits. You may also need to review certain licenses for working on-site at your business or someone else’s. Ensuring you apply for the right licenses, permits and insurances to get your business off to the best possible start.