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EDC – Steps to Starting a Business

Starting a business involves planning, financial decisions, and legal processes. These 10 steps help you prepare, launch, and manage your business effectively.

STEP 1: Write a Business Plan

This written guide helps you map out how you will start and run your business successfully.

  • Define your vision — what the end result of your business will be.
  • Define your mission — the purpose of your company.
  • Set objectives — goals that lead to achieving your mission and vision.
  • Outline your strategies — how you will achieve your objectives.
  • Write a simple action plan — smaller tasks needed to reach your goals.

STEP 2: Get Business Assistance & Training

Access free counseling, training programs, and support for preparing business plans, financing, and expansion.

STEP 3: Choose a Business Location

Learn how to choose a customer-friendly location and comply with zoning laws.

STEP 4: Finance Your Business

Find startup funding options such as government-backed loans, venture capital, and research grants.

STEP 5: Determine the Legal Structure

Choose the best ownership model: Sole Proprietorship, Partnership, LLC, Corporation, Non-profit, or Cooperative.

STEP 6: Register Your Business Name (DBA)

Register your business name and learn which tax identification numbers are required at federal and state levels.

STEP 7: Register for State & Local Taxes

Apply for your state tax ID, worker’s compensation, unemployment, and disability insurance.

STEP 8: Obtain Business Licenses & Permits

Find all required licenses and permits at federal, state, and local levels.

STEP 9: Understand Employer Responsibilities

Learn what is legally required when hiring employees.

STEP 10: Find Local Assistance

Contact your nearest SBA office for additional guidance and entrepreneur support.