Small Business 101: Starting a Business in California
Updated: Sep 19, 2020
As the saying goes, there is no reward without risk. There is always risk when starting a business. A lot of this risk comes from uncontrollable circumstances like an economic downturn. In order to make sure your company is a success and is set up properly, follow the state regulations. This article will focus on those in California.
During the beginning stages, you should be considering your business plan. A few key points in your business plan should be sales, marketing, advertising and insurance! Make sure that you are going through the proper channels to push forward into success. Insurance can be for the overhead in the business itself or employees. Considering your location is essential. Hence, in California, you must consider if your business needs external insurance for fire or earthquakes. You can check into choosing the right insurance for the area here.
Small Business Regulations in California
California got its nickname after the boom of the gold rush and the riches that it brought people. Therefore, California is a very popular state to be an entrepreneur. California is home to some of the largest tech companies in the world. Between the Silicon Valley and Hollywood, there are thousands of successful companies.
One of the best ways to go about starting your company in California is to look at the California Governor’s Office of Business and Economic Development. This site will help you to find the best real estate locations, transportation, as well as economic and demographic data to help make your decision.
Making It Official: Checklist
Step 1: Are you starting a corporation or limited liability company? Limited Liability Companies have taken the market by storm, because they are subject to less taxation and provide more liability coverage.
Step 2: Make sure you choose a creative and unique business name. A unique aspect of the California market is the amount of competition, with over 99.8% of businesses in California being small businesses. Make your brand stand out.
Step 3: Register in the State of California. For an LLC, once you are approved, you must have an organizational meeting to reinstate your functions and goals. This is a preliminary meeting that proves your involvement in the business.
Step 4: Check into the other types of insurance that could be beneficial. Compare quotes on our site to make sure that you get the best deal.