Starting a business is generally a very challenging process. There will be a lot of concerns as to whether your business will be a success or not, as well as legal problems and issues with staff.
This article covers factors that will make it easier for you to organize the start-up phase of your business, including legal requirements as well as some ‘hacks’ that might make the processes a little easier for you.
#1 Check laws when it comes to worker compensation
Checking applicable laws is essential for small businesses based in Georgia. There are certain laws in place that mean that if you have three or more employees, you must have worker compensation. Clients may also ask for documents like this before employing your business’ services, especially if you are a labor-based firm.
#2 Make sure your taxes are filed correctly
Ensuring that your taxes are filed correctly can take a lot of stress off your shoulders when it comes to paying business and company tax. It can be a struggle to get all of your paperwork and legal work in order, so save yourself the hassle for later on down the line and organize and report your taxes promptly.
#3 Check for zoning regulations in your chosen location
Make sure the zoning in your chosen district supports the kind of business you want to run. If you need extra storage placed on the property, this can be a struggle if the district rules say you can’t do that. This may mean that you may need to store things off-site, which can lead to extra costs and the logistical issues that always occur with off-site storage.
#4 Apply for permits and licenses
All businesses in Georgia require a business license. It is also always good to keep an eye on business license expiry dates and the time of purchase for a new one, and when the license office is open. In Georgia, your zoning also applies.
Overall, it takes an average of 3 to 5 weeks for the process to be complete and for you to get your business license, so keep this in mind when you purchase one and plan accordingly, so you don’t get caught out.
#5 Register your business with the state and your local government
This might sound a bit worrying. But rest assured, this process is very simple if you own a small business. Getting your location sorted and your business structure worked out beforehand can help things no end in getting your business registration sorted. It is a good idea to register your business, as then you get access to tax and legal benefits, as well as personal liability protection.
This is essential if you are not operating under your legal name. If you are, it is not required by law for you to register your business; however, you do miss out on the benefits and perks that the government proposes to registered businesses if you don’t.