What does a small business need?

Starting a small business is simple with the required amount of investment with basic knowledge and proper local government license to run the business.You should have practical experience in doing the business to know the nook and corner of the business. It is easy to get customers, if you provide good service and good quality goods. Timely delivery of goods to customers is important.

if you have employees using your power equipment, you should protect yourself by having workers comp. either an insurance specialist in your town can tell you for sure if you are required to have it, or search online for your state and workers comp information for employers to find out. Our state has a workers comp program that is reasonably priced, has been responsive to the few incidents we have reported, and adjusts the premium based on total payroll for the year, which in our case varies. You might also want to look into forming an LLC as further protection of your personal assets should any liability cases come up.

Do you have a federal and state tax ID number? Are you reporting and paying state unemployment taxes, if you meet the threshold? good accounting program with information kept up to date? For federal and state tax information go to the tax agency websites and look up their guide for employers. some also have guidelines for small employers.

So basically all i'm missing is workers comp? and potentially a training program for equipment?