Start Your Own Business 2017-12-16T13:51:04+00:00

You have a great idea, you think it’s unique and different and now you are inspired to start your own business. Whether it’s a small enterprise like a jewelry making business to sell at street fairs or markets or something larger like a restaurant you will always involves planning, making key financial decisions and completing a series of legal activities. These 10 steps can help you plan, prepare and manage your business.

  1. Write a business plan: A business plan is an essential roadmap for business success. This living document generally projects 3-5 years ahead and outlines the route a company intends to take to grow revenues.
  2. Get Assistance and Training: Take advantage of free training and counseling services, from preparing a business plan and securing financing, to expanding or relocating a business. Look at the links below for locations.
  3. Choose a Business Location: Choosing a business location is perhaps the most important decision a small business owner or startup will make, so it requires precise planning and research. It involves looking at demographics, assessing your supply chain, scoping the competition, staying on budget, understanding state laws and taxes, and much more.

Here are some tips to help you choose the right business location.

Determine Your Needs

Most businesses choose a location that provides exposure to customers. Additionally, there are less obvious factors and needs to consider, for example:

  • Brand Image – Is the location consistent with the image you want to maintain?
  • Competition – Are the businesses around you complementary or competing?
  • Local Labor Market – Does the area have potential employees? What will their commute be like?
  • Plan for Future Growth – If you anticipate further growth, look for a building that has extra space should you need it.
  • Proximity to Suppliers – They need to be able to find you easily as well.
  • Safety – Consider the crime rate. Will employees feel safe alone in the building or walking to their vehicles?
  • Zoning Regulations – These determine whether you can conduct your type of business in certain properties or locations. You can find out how property is zoned by contacting your local planning agency.

Evaluate Your Finances

Besides determining what you can afford, you will need to be aware of other financial considerations:

  • Hidden Costs – Very few spaces are business ready. Include costs like renovation, decorating, IT system upgrades, and so on.
  • Taxes – What are the income and sales tax rates for your state? What about property taxes? Could you pay less in taxes by locating your business across a nearby state line?
  • Minimum Wage – While the federal minimum wage is $7.25 per hour, many states have a higher minimum. View the Department of Labor’s list of minimum wage rates by state.
  • Government Economic Incentives – Your business location can determine whether you qualify for government economic business programs, such as state-specific small business loans and other financial incentives.
  • Finance Your Business: Find government backed loans, venture capital and research grants to help you get started.
  • Determine the Legal Structure of Your Business: Decide which form of ownership is best for you: sole proprietorship, partnership, Limited Liability Company (LLC), corporation, S corporation, nonprofit or cooperative.
  • Register a Business Name (“Doing Business As”): Register your business name with your state government.Learn which tax identification number you’ll need to obtain from the IRS and your state revenue agency.
  • Register for State and Local Taxes: Register with your state to obtain a tax identification number, workers’ compensation, unemployment and disability insurance.
  • Obtain Business Licenses and Permits: Get a list of federal, state and local licenses and permits required for your business.
  • Understand Employer Responsibilities: Learn the legal steps you need to take to hire employees.
  • Find Local Assistance There are a number of available programs to assist startups, micro businesses, and underserved or disadvantaged groups. The following resources provide information to help specialized audiences start their own businesses.

Saddleback College Entrepreneurship & Innovation Center

Mission Viejo

(949) 348-6226

http://entrepreneurship.saddleback.edu/

US Small Business Administration  الإدارة الفيدرالية للمشاريع الصغيرة

5 Hutton Centre Dr Suite 900

Santa Ana, CA

714-550-7420

https://www.sba.gov/

College Advancement & Economic Development, Long Beach City College

Long Beach  قسم الإقتصاد بكلية مدينة لونج بيتش

Whether you’re starting your business, expanding your business, or are ready to engage in international trade, our suite of affordable services can assist you.

562) 938-5008

caed@lbcc.edu

http://www.lbcc.edu/CAED/business-development.cfm

US Small Business Administration   الإدارة الفيدرالية للمشاريع الصغيرة

330 North Brand Suite 1200

Glendale, CA

818-552-3201

https://www.sba.gov/

Network of Arab American Professionals of Los Angeles (NAAP-LA)   شبكة المهنيون العرب الأمريكيون في لوس أنجيلوس

www.naaponline.org/la

naaplosangeles@gmail.com

IE Small Business Development Center

Various

Trainings, consulting, arabic

http://www.iesmallbusiness.com/contact-us/

http://www.iesmallbusiness.com/

@IESBDC

https://www.facebook.com/pages/Inland-Empire-Small-Business-Development-Center/216886101671634

IE Women’s Business Center

3780 Market St, Riverside, CA 92501

Trainings, consulting