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The following is only a general overview of the steps you need to
take in starting a business. Detailed information on each these steps is
provided in the following pages of this Guide.
Develop a business plan. Read through the next section of this guide on preparing a Business Plan. Once your plan is drafted, have it reviewed for free at one of the organizations listed on the previous page. Compile a checklist of steps to take. Call CEDO (802·865·7187) to review and to obtain a current listing of available commercial space. Look into local permits, zoning and licenses. Before signing a lease, contact Planning and Zoning (802·865·7188) and Public Works (802·863·9094) to discuss your plans. These departments will advise you of necessary zoning and building permits, and about the process to get them.Choose your business' legal structure. Sole proprietorship? Partnership? S-Corp? C-Corp? Limited Liability Corporation? The new L3C (Vermont was the first state to authorize this new designation)?Consult with an attorney and accountant to review the legal and financial benefits of your choices. You can research the definitions and benefits of these legal structures at the Secretary of State's website. Register your name. Once you've decided on your business' legal structure or if you are doing business under a name other than your own, you need to register your name. Either call 802·828·2386 or visit the Vermont Secretary of State's Office to get the Tradename Registration form. Also, certain professions require permits and licensing from this office. Again, either call the Secretary's office of check the website.Get an Employers Tax Identification Number (EIN). Partnerships and corporations, with or without employees, must obtain an employer identification number. Complete and return IRS form SS-4 from the Internal Revenue Service (978·474·5200). All forms are available online. Call insurance agents. You'll need various types of insurance. Call three, discuss your business needs, get quotes and compare price and service.Register for state tax numbers. For sales tax, withholding, corporate and other taxes, call the Vermont Department of Taxes (802·828·2505). |
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Advice Your business may be subject to various permits, licenses and review. Check our the section on Special Considerations. For comprehensive assistance with larger projects of construction and improvements for new or existing commercial facilities, call CEDO at 865·7144 or GBIC (802·862·5726).
"Discuss your plan with
your family. In the beginning, plan on being there all the
time. Plan on drawing a modest salary. Love what you are
doing and don't take 'no' for an answer . . . as my mom always
said: success lives just around the corner from failure."
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Introduction / Previous / Next
Page last updated July 06, 2009
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