Have you been dreaming of starting your own Atlanta-based business? There are many reasons why people decide to work for themselves. Whether you want to be your own boss, spend more time with your family, or set your own hours, starting your own business can be daunting. If you’re seriously considering the move, here are a few things you’ll need.
One of the first things you’ll need when starting your new business is a plan. Your business plan is the guide you create for your business. It’s meant to outline your goals and how you plan to achieve them. It should also include the basic financial projections for your business as well, such as your budget, expenses, and cash flow.
An EIN (Employer Identification Number) is a federal tax number that’s used to identify your business. While it isn’t necessary for every business, it’s still highly recommended. The number is free and it keeps you from having to use your Social Security number, which helps to lower your risk of identity theft.
A Business Bank Account
Even if you’re running your business by yourself, you should still get a business bank account. This helps you to keep your business and personal finances separate and prevents confusion and possible financial complications. Use your business name and your EIN to set up the account and only use it for business-related deposits and transactions.
A Place to Do Business
No matter what type of business you’re starting, you’ll need a base for your operations. You can work out of your home or get an office rental atlanta ga. Another option is to rent or buy a location of your own. Whatever you choose, be sure that the space is suitable for your business.
Starting a business is both exciting and overwhelming at the same time. Careful planning and making sure you have everything in order help to make the process go more smoothly.