how to start a business in nc can seem like an overwhelming task. However, with a little hard work and determination, you can find yourself on your way to owning your very own business. NC is actually one of the fastest growing states in terms of population growth and it has the opportunity to help you fulfill your dreams. Here are some tips for how to start a business in NC.
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Step One: Create a Small Business Plan. While you do not have to have a formalized small business plan or marketing strategy when you start a small business in NC, it will be helpful in the long run. It is best to start out with a formalized plan and follow it. Starting with a bare minimum business plan of action will give you an idea of what needs to be done and will also give you a starting point that you can build from.
Step Two: Create Your Own Company or Business Structure. If you are going to have employees then you will need to register them as employees (note: if you are going to hire domestic help, you will need to provide them with their own legal structure and ID). Next, you will need to create your company or business entity (note: if you are going to hire domestic help, you will need to provide them with their own legal structure and ID). This process should include creating a power of attorney for yourself, a business entity registration, business name, articles of incorporation, business license, and employee contracts.
How to Start a Business in NC - Steps to Success
Step Three: Submit Your Articles of incorporation or business license. Once you have your company or business entity registered, it is time to submit your articles of incorporation or business license. These documents must contain the name, address, and phone number of your business entity/company (note: you may also have a separate name for your home office). They should also clearly identify your business (including the purpose of the business), your personal information, and your employer requirements.
Step Four: Employ Employees or Hire Domestic Help. Once you have your business entity (including your power of attorney and articles of incorporation) registered, it is time to hire domestic help or find domestic workers. The first thing that you want to do is gather domestic work information from your area or search online using your business insurance or SBA's official website. If you are using a smaller business insurance broker, he/she will be able to direct you to the proper agencies or employers who do not require liability insurance. Remember to find out if the domestic help or employee have clean criminal records. Also check his/her references from previous jobs.
Step Five: Generate Business Credit Card Applications and Startup Funding. You are now ready to find a funding source or a lender (if you are planning to obtain startup funding). Your next step is to generate business credit card applications or startup funding. These forms are available online, at local finance companies, or through banks with branches in the area where you will live (depending on your location). Depending on the type of startup funding you are seeking, you may have to obtain startup capital from investors (a private investor or a non-traditional bank) or from NCB's (no's are non-traditional financial organizations based in North Carolina).
Step Six: Choose Your Business Name and Company Colors. Once you have all the forms and business credit card application(s) in hand, you are ready to start your advertising campaign. The first thing that anyone searching for NC business listings will see is your business name. You want to make sure that this is visually appealing, but also professional in appearance. Be careful not to overdo it with your logo or slogan though, as these small things can draw in customers that you would not otherwise gain in the marketplace. Be professional but be friendly.
Step Seven: Build Your Website. Once you have found a lender, or obtained startup capital, it is time to build a website and launch your business. If you are not tech-savvy, it would probably be best to outsource this task. On the other hand, if you have the skills and the know-how, then you can certainly build your ownNC business site. In either case, a quality website will help attract NC business credit.
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