How to Start Your Own Business, Based on My Experiences: Part 1

In today's economy, the American dream not only consists of owning one's own home, but also now includes the ownership of one's own business from which to profit. While an amazing five percent of this country's citizens have at one time or another owned or operated their own business, the process to doing so successfully is not too easy. When starting your own business, regardless of the nature of that business, there are certain steps that need to be taken in order to make sure your business is legal.

Uncle Sam needs to get his piece, too

When starting a business, you need to make sure that your business is properly registered with the state and city business offices that you plan to operate in. Registering for a state business license is readily available online and is offered for free when you register online with your state tax office. When you are registering your business online, you need to look for two different registration forms. The first of these forms you need to look for is the Fictitious Name Registration form. You will need to use this form if you plan to do business under and name other that your full legal name. This registration can usually be done online but also requires you to mail in a formal signed copy of the form as well. Another note on this form in that there is usually a nominal fee of about $50 charged and the name will need to be renewed every five years in order to keep the rights to the name secured.