I would be opening in indiana. What licenses do you actually need? Where can you get them? Online or in person? Where is a good place to find a loan or potential investors to lower my personal startup fee?
Mak Global
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Hi Greg, I'm based out of Texas and I started and filed for an S Corporation. You didn't mention what type of business you want to start (what industry? a salon? a dealership?) or what type of corporation (an LLC, S Corp? C Corp).
Here is the Indiana website for registering a new business with the Secretary of State:
http://www.in.gov/dor/3744.htm
You will also need to file the appropriate documents with the Federal Government stating what type of corporation you are so they will know how you intend to pay your corporate taxes. This is for your Identification number. Go here:
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Apply-for-an-Employer-Identification-Number-(EIN)-Online
If your industry requires licensing (like for a CPA) that is a different license you would need to get.
On start up fees - I'm a seasoned finance professional for small businesses - loans for start up businesses are hard to come by unless you have collateral to provide. Think real estate or vehicles, things like that. If no collateral I always advise my friends that private investors are the next best choice. Write up a business plan and start pitching your idea. Gain your investors and get going! Good luck and congrats on deciding to pursue your own business.
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kemperk
type of business?
city hall
no on line licenses
Louiegirl_Chicago
9-21-2012 you should give mark global the coveted BA award for all the information he provided to you. it is all true. it is great advice.
i have only one thing to add (see my sources about where my advice comes from).
this answer addresses licensing. you need to go on the net to the state of IN to view the types of businesses or individuals within them to see who must get a license to practice whatever [you] he wants to perform to gain work and income.
you'd go to the equivalent of the State of Illinois' Secretary of State and then choose "Licenses" (or whichever category, outside of DMV, obviously), that seems that it tells you what types of licenses are acceptable to your state and who gets them. you need to realize that you might have to take continuing educational courses each time you renew your license. some industries require that you work under your boss' "umbrella" (see my sources) for a given length of time before you can get his type of license. then those in that category, starting out, would work under YOUR new license.
think of the insurance industry. an insurance salesman generally must work under an umbrella license of the company he works for before he himself can get his boss' type of license so that insurance salesmen can work under him. that's what i mean.
in the reverse, i think that a hair stylist would only need to get an individual license from the state and then do whatever the state wants each time he renews the license that is not under the umbrella license of a hair salon that he does not own. i.e., he may work out of his house, but he needs to know all the laws and rules that exist about sanitizing combs, for example!
see my sources below.
SOURCES (yahoo answers had a problem, i guess, with the character count, so i pasted it in right here:
CEO of a real estate S corporation. back in the early 1980s, i had to work for two years for a licensed real estate BROKER, as a licensed real estate SALESMAN, before i could sit for the exam to be a licensed broker of real estate in the state of illinois. when i obtained my state of illinois real estate BROKER'S license, then i had to renew it every 2 years and take licensed continuing education classes, documented, before i could take the new exam. so as a licensed real estate broker, i was the "umbrella" licensee for real estate salespeople, real estate property managers, etc, etc. in the state of illinois, real estate so closely resembles banking that its licenses actually fall under the licensing for the entire industry of banking (it used to be called, in IL, the office of banks and real estate). in addition, in that industry, which also so closely resembles practicing law, like a lawyer does, that some of the education we had to get concerned a case that controls what a lawyer can and cannot do with or without his real estate broker's license and what a real estate broker/salesman cannot do that resembles the practice of law. i hope this info helps you go very far!