Starting a business in the United States can be a daunting undertaking. Fortunately, there are steps you can take to simplify the process and increase your chances of success. In this blog post, we’ll provide an overview of how to start a business in the US from the ground up, including how to develop a business plan, choose a business structure, and register your business. This post is for everyone who wants to start an LLC in the US, both as a US or non-US citizen. These steps can help you start an LLC as a noncitizen.
Create a business plan
The first step in starting a business in the US is to develop a business plan. A business plan is a document that outlines your business’s goals, objectives, and strategies. The business plan should include information about the business’s target market, pricing strategy, and marketing strategy.
Additionally, you should also include information about the resources you will need to launch and operate your business, such as capital, equipment, and personnel. Once you have developed your business plan, you can use it to apply for financing or investment.
Luckily, there are tons of free resources online that you can use to develop a business plan:
US Small Business Administration business plan
Rocket Lawyer business plan for each state
Choose business structure
The next step is to choose a business structure. The most common business structures in the US are the sole proprietorship, the corporation, and the limited liability company (LLC).
Each structure has different benefits and drawbacks, so it’s important to research the different options and choose the one that best suits your needs.
Register your business
Once you have chosen a business structure, you must register your business with the appropriate state or federal agency. Depending on the business structure you choose, you may need to register with the IRS, the Secretary of State, or both.
Additionally, you may need to obtain a business license or permit from your local or state government. The best states to open your business are Wyoming and Delaware because of the ease of doing business and taxes.
If you are still unsure where to start, then the best is to ask for professional help. With Mollaei Law you can start your online business without dealing with complicated legal forms. Sam Mollaei has helped over 7000 entrepreneurs and has a 5-star review on Google based on 3258 reviews. Mollaei Law guides you every step of the way and will obtain all permits that you need to have.
Another great option is to start an LLC with Northwest Registered Agent LLC. They will do everything for your for just $39. Many professionals are using Northwest for different services that are related to starting and running a business.
Obtain EIN
In order to do business in the US, you will need EIN. An Employer Identification Number (EIN) is also known as a Federal Tax Identification Number and is used to identify a business entity. Generally, businesses need an EIN. You may apply for an EIN in various ways, and now you may apply online.
Standalone EINVisit irs.gov to find out more about EIN
Appoint registered agent
A registered agent is someone whom you designate to receive official papers for your business, be it an LLC, corporation, or limited partnership. If you are not in the US, someone must receive official mail for you.
Usually, your business address is not the same as the registered agent’s address. Remember that none of these business entities can serve as their own agent to accept legal papers. They must appoint a third party to serve as an agent.
You can get a registered agent with Northwest Registered Agent
Hire your registered agent now! Northwest Registered Agent has offices in every state.Open a business bank account
You must also open an official bank account to do business properly. If you live outside the US, you can open a bank account from abroad. There are two options for you: Mercury Banking and Lili Banking. None of these two require you to be present in the US.
Mercury Banking has an easy-to-use dashboard, you can add multiple users to your account, including your accountant, and you can request a debit or credit card with a few simple clicks. Opening an account is done through a questionnaire, and you can get in within 10 minutes.
Lili banking is the one-stop shop for all your small business financial needs — banking, accounting, and taxes. With $0 minimum deposit and $0 monthly fees, this is the perfect choice for a start-up.
Get business insurance (optional)
Finally, you would need to obtain the necessary business insurance to protect your business and its assets. Business insurance is essential for any business, as it can protect you from financial losses due to liability or property damage.
Depending on the type of business you are running, you may need to obtain general liability insurance, professional liability insurance, workers’ compensation insurance, or other types of insurance.
However, this step is not mandatory. You can explore your options later and decide which insurance is the best for your type of business. Insurance can be expensive, but not having insurance can be even more expensive.
Conclusion
Starting a business in the US can be a complex process, but by following the steps outlined in this blog post, you can make the process simpler and increase your chances of success.
Develop a business plan, choose a business structure, register your business, and obtain the necessary business insurance to protect your business and its assets. With the right preparation and planning, you can launch your business successfully. Good luck!
