California is also known as the golden state of the US because it is a perfect place to start a small business. The state has all the positive key features that mean you find all the professional and economical reasons in there. California’s calm & consistent weather, large population make it an ideal destination to conduct any business. Not only this, it is the fifth largest economy in the world. So in this article we will discuss some basic steps that you can follow to run or set up your small business.
1. Choose the proper business idea:
First of all you have to choose a proper business idea that means which business is more profitable and affordable to you. Find an idea which suits your personal goals, your natural abilities and mostly your interests. So that you can stay motivated especially when you are suffering and will significantly improve the odds of your success. You can do any kind of business such as Security Guard Company, grocery store, record label, dog breeding etc. you can also start some homemade small business which is necessary in our daily lifestyle such as jewelry makings, baking, interior designing and learn more.
2. Plan your business:
Every successful business is built through perfect and careful planning. Before investing a lot of money and other resources in your business, analyze your idea plus create a plan and follow it.
· Choose a catchy business name:
Choose an attractive and catchy name which follows some rules such as: it should be easy to pronounce, unique, and not complicated. You can also add your name in the brand name.
· Business location:
Location has a great impact on your business growth as well as licensing & permits. According to a research Oakland and Los Angeles are the best because these are helping to drive customer interest and increase foot traffic.
· Consumer experience:
Customer experiences are too important for any business. There are some ways which will help you to improve your customer experience such as industrial packaging; turning new customers into regular, turning negative into positive and learn more.
· Write your business plan:
A well-crafted commerce plan not only helps you get pre arranged while you establish your business in California. Generally, Business plans are helped to find business funding plus help you to reach significant milestones. Write down the main components of your business plan such as product development, sales and marketing, people and partnerships, financial planning.
3. Get funding:
Without investments you can’t start a business but before you spend your money you should cover all the startup costs. Calculate all the costs then choose right funding sources in California. You can borrow money from your friends and family or you can also grant some small business loans.
4. Choose your business structure:
Register your company as a legal business unit such as LLC, nonprofit or corporation. It has two benefits such as increased credibility and protects your personal liability.
5. Register your business in California:
After choosing your business structure, register your business. If you choose sole proprietorship, you don’t need to file organizational documents with the state. If you choose partnership, you need a partnership agreement and file a registration with California SOS. If you choose a corporation, you file article information with California SOS. And for LLC file articles of organization with California SOS.
6. Apply licenses & permits:
For starting a business in California you must have tax registration, EIN, general business license, regulatory permits and licenses and professional & occupational licenses.
These above steps are necessary to start a business in California you can also click here to get some tips for running your business in California.