I am considering starting a technology service business, not a brick and mortar for now, just an install and repair service for home users and businesses. I'm not sure what the business laws are for my state (Iowa) and what the process would be for legitimizing my business. When must a company be incorporated and what are the benefits and drawbacks to this? Any advice that anyone can offer about what sort of expense I can expect to pay and what kind of a time frame I could be looking at before I can get underway. Thank you!Thinking about starting a small service business, advice?
Depending upon how easily accessible your courthouse is, I would start there for licensing purposes. Make sure you get the low-down on how your city/town does business. Second, I would hit up my favorite tax advisor for information about reporting taxes and you'll also find hints there about what all you can write off, and boy, can you write a lot of things off in a home business. Lastly, check into advertising, business cards and get the word of mouth out about your business. I could be wrong, but you're not baking anything or spraying chemicals or doing anything far-out there, so I think you'll be surprised that starting a business is easier to do than you think. It's keeping it running and successfully--that's the trick! I'll bet you can do it! Good Luck! Thinking about starting a small service business, advice?
Most businesses can be incorporated on line. Do a search for your states Secretary of State division of corporations.
If you are going to be doing business in other peoples homes there is always a liability and you should at least create an LLC to protect yourself.
As for time frame.. you can be up and running in a day or two
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