Curious about how to start a small business in Kansas? Building a business means you have a list of paperwork to check off to ensure that everything goes smoothly. Here are 5 actions you’ll need to take to get your business up and running in Kansas.
Solidify Your Business Plan
First and foremost, you need to solidify your small business ideas into a concrete plan. You have to know what you want to sell because certain fields require industry-specific permits and regulations. The structure of your company, whether it’s a DBA, a corporation, or an LLC, also determines what kind of legal paperwork you must complete.
Register Your Business
Knowing how to start a small business includes knowing how to register your business legally. The steps to registering a small enterprise may differ depending on the structure. However, in general you are required to complete forms such as the Public Record Filings and get a Federal Employer Identification Number from the government. To save time and avoid future legal repercussions, you might want to invest in a lawyer specializing in business registrations.
Get Licenses and Permits
Other than registration, business licenses are also a necessary part of understanding how to start a small business in Kansas. Kansas doesn’t have a General Business License. However, certain cities may issue city business licenses, so you have to check with your local authority first. After obtaining all the necessary permits, don’t forget to keep all important documents and tax filings safe.
Funding is the basis to building a business. If you don’t have sufficient personal funds, you can apply for small business grants from your local government. Others would seek loans from the US Small Business Administration or a bank. Another possible option is to collect funds from Kansas-based angel investors or venture capitalist organizations.
Set Up Your Company Bank and Credit Accounts
It is necessary to separate business and personal finances. Thus, you need to set up a separate bank account for your business. Furthermore, you need a credit card to build the credit profile of your small enterprise if it’s a corporation or an LLC. To set up a business bank account, you need to provide your EIN as well as the certifications and permits you got after registering your business. Now you know how to start a small business in Kansas and can prepare the documents you need.