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The first 5 steps entrepreneurs should take to start a small business - Business Insider

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The first 5 steps every entrepreneur needs to take to launch a business, according to people who've done it

If you're ready to take the leap and launch your business, you may be wondering where to begin. We asked four entrepreneurial experts to share the first five steps necessary to start a business, any business, from freelancing and photography to tax preparation and interior design. Here's their advice.

"Forming an LLC in California, for example, will cost you a franchise tax payment of $800 per year, whether or not you need or even use the LLC," Allec explained. "That being said, given your industry and personal wealth situation, it may very well be advisable to set up a business entity for your business right from the get-go for asset and legal protection purposes."

If you have your heart set on a name for your business, first you'll need to make sure it isn't already in use or trademarked. You can check this for free at. If it's available, you'll need to register it, as this makes your business a distinct legal entity. How and where you need to register depends on your business structure and location.

 

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