How to Start a Business in Staten Island
If you decided to move to Staten Island and start your own business there, we have to congratulate you. That is such a big and brave step that will change your life and we wish you only the best. You will probably need every kind of help you can get, so we are here to offer you some ideas on how to start a business in Staten Island. But first things first, it will be so much easier to do all the work connected to your business, once you find yourself there. So try to find the best movers NYC has to offer. They will help you lift the burden of all those things you have to do for your relocation. So start there.
Partner up with the best movers
Since the moving market is so huge now, start looking for the best movers in Staten Island. Look for a company that is experienced and on the market for a long time. Always read all you can find about them, and also look for some reviews. Other people, experiences can be really helpful. So you want to read all you can find before you make your decision.
Decide on your moving budget. But since you plan to start a business, have in mind that moving doesn’t have to be expensive. You can decide that just at a beginning of your search if you start looking for the best commercial movers in Staten Island. When you contact them, tell them all the specifics of your relocation and let them give you some ideas. Ask specifically about the services that have to be paid additionally. So then decide if you want to do them by yourself or you will leave them to your movers.
Tips on how to start a business in Staten Island
If you have enough time, you can even check new trends in the NYC moving industry. So check all you can, decide on the moving you are about to hire, and then start thinking about how to start a business in Staten Island. It is never to start organizing all that, so here are some ideas.
Make a business plan
If you want to make a roadmap for your business, create a business plan for sure. The idea is to understand your plan for the next 3-5 years. If you want to achieve success, you should have a roadmap to it. A proper business plan needs to have business goals, and strategies as well as potential problems as well as possible solutions. Write down your strategies and organizational structuring, but also budget forecasting.
The legal structure must be also planned
There are many important decisions to make when you are ready to start a business on Staten Island. You need to choose a legal structure. Every type of business has its advantages and disadvantages. Make some research and learn as many details as you can. Compare them against the priorities you have for your own business. Are you willing to take a risk and to which level? Decide on how you would prefer your business to be taxed. Get information on all that requires to start a small business.
Get yourself an EIN number
An EIN is short for Employer Identification Number and it is commonly known as a Tax ID. This is a unique identifying number for a business just as a unique ID number is used for individuals. The IRS uses this EIN number to identify businesses for the purposes of taxes. So every business that is starting, need to have this number. This will be a condition so you can open a bank account, hire people and so much more.
You have to apply for local business licenses and permits
You have to register your business within your state. The first step is to register it with your Secretary of State. That must be done before obtaining a State Tax ID. That is different from the Federal Tax ID since each state has its own State Tax ID. This unique number is associated with an organization by the state where the business is performed. The reason for this is that is primarily used for paying state taxes and also for hiring reasons. Every state has unique processes to obtain State Tax ID, most of them give you a chance to get your number the same day you apply for it.
Business bank account
You need to have a bank account connected to your new business. This is a necessary and monumental step on the way to building a successful business. There are some common roadblocks in that process. The bank has to go through all the documents you are bringing. THat can slow you down. So bring everything with you: your state’s Incorporation documents, EIN number, and all partners whose names you want to include on the bank account. You all need to be present there.
Accounting is an important part
The majority of business owners do know that they need to file taxes right from the start. Since this is one of the most important parts of your business, start right away, don’t wait for the end of the year. Avoid all unnecessary costs that will come if you are late to pay taxes to IRS. Hire an experienced accountant that will know the best way to handle your taxes and to help you with all responsibilities from the start. That person will be able to help you understand all you need to provide in order and on time. Some of those things are Profits & Loss Statement and more.
Don’t forget insurance if you want to start a business in Staten Island
One of the things you have to do when you decide to start a business in Staten Island is to get the right insurance coverage. Some businesses will need just the special kind of coverages, so find out what is the must for you. After you finish that task, you can start with employing people. We wish you all the luck.