How to Start Your Own Company As a Female
- 1). Build a network of trusted advisors, such as fellow female business owners and entrepreneurs, to determine the scope of the business: its size, mission and details of day-to-day operations. Organizations such as SCORE provide links to women entrepreneur networks. Use these resources to help you navigate the process. Use resources available at the local library to familiarize yourself with business requirements specific to your location.
- 2). Research types of legal structures, such as sole proprietorship, partnership, corporation, S corporation and limited liability company to determine the best structure for the business. Entity type determines tax structure and legal considerations. The U.S. Small Business Administration offers free information to help determine the appropriate structure.
- 3). Select and protect the business name. To ensure no two businesses share the same name, the law requires that business names be registered. Depending on the location and business type, names are registered at the state or county level. Some states offer registration forms on their websites. Check your state government website for information on requirements and fees, which vary by state. If the business will operate in more than one state, file an application to protect the trademark at the federal level through the U.S. Patent and Trademark office.
- 4). Write a business plan. A business plan clearly defines a company and is essential for securing funds. The U.S. Small Business Administration offers assistance in writing a business plan.
- 5). Locate funding by investigating available grant and loan opportunities. Pay particular attention to programs offered specifically for female-owned businesses. Check the U.S. Small Business Administration for a list of funding sources, including guaranteed loans, venture capital, and start-up grants.
- 6). Obtain licenses and permits. Licensing and permit requirements vary with location and business type. Some licenses and permits are issued by state governments; others at the county or local level. Business.gov enables users to submit a business type and location on the website to access a full list of licensing and permit requirements.
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