Please make sure that you research the laws in your country to ensure that you comply with all legal requirements.
We recommend that you visit the United States of America Federal Trade Commission (FTC) website to get an idea of what is required when starting and running a business.
Please do not get scared or overwhelmed by all the government language. Their site is designed to inform and protect consumers – something your business should also do!
You don’t have to spend a lot of time on their site but you should visit it just to be aware of what NOT to do.
As you go through their site:
- Write down a list of questions you need answered
- Write down notes of what to avoid when you start your business
This will help you to focus on setting up your business the right way.
Now it may be a bit confusing when you first look at what is required to start and run a business but don’t let that bother you. It is easier than it appears and people do it every day.
Most of the set up involves registering with the appropriate agencies to ensure compliance with fair trade, tax, zoning and insurance laws.
This is a good thing as it protects both you and the consumer.
Make sure you go through the Ten Steps to Make Money the Modern Way and have a real plan before you notify the government of your intent to start a business.
There is nothing wrong with doing research as a private citizen. Do as much research as required before you start your business.
Once you notify the government that you are starting a business you must comply with all the required business filings.
It is better for you to go through all Ten Steps to Make Money the Modern Way, learn what is needed, do the required research, draft a plan and then file for the start of your business.
This should not take very long if you follow the process and stay focused.
Visit the FTC Website and start your list of questions and notes.