Stylistic Considerationsīeyond the basic legalities, you should focus on clearly identifying what your company does in your business name. You can also consider incorporating your values into your business name, like using the word “green” to denote environmental friendliness. Explanatory Namingīeyond the basic legalities, you should focus on clearly identifying what your company does in your business name. Legal Considerationsĭepending on whether you choose to form a corporation or a limited liability company, there are some legal aspects as well (for example, an LLC must include “LLC” or “limited liability company” in the business name, and a corporation must include “incorporated,” “corporation,” “Inc.,” or “Corp.”). Even if you don’t plan on creating your website right away, it may be a good idea to go ahead and purchase it so no one else can take it. If you plan on creating a website for your business (we discuss this in Step 6) you may also want to make sure that the domain name you want is available. Name reservations cost $20 and last for a period of 120 days. If your desired name is available, but you are not ready to file the formation paperwork yet, you can reserve the business name right here. In Washington, you can run a business name search to confirm that your desired business name is still available via the Secretary of State’s website. Name Searchīefore you decide on a name you must make sure it is still available. It also will determine the direction of your branding. The name of your business is an extremely important attribute because it’s often how you make your first impression to potential customers. To get started, SBA.gov has a great free tool that can walk you through writing a business plan. Your business plan doesn’t have to be fancy at all, you just need to make sure you spend enough time considering these important aspects before you actually launch your business. You often will use your business plan to try and get investors or loans, so you want to make sure your market research and business plan are thorough. It is important to do this before or in conjunction with your business plan, because you need to make sure you have direction and a foundation for your business. It will help you define who is the target audience, the current demand for your product or service, the market size, location, and pricing. The market research that you do will help you determine your marketing and sales strategies. When you are creating your business plan you will need to do market research. The first step to creating any business in any state is to plan what products and services you’ll sell, set your operational budget, and figure out how you want to market your company. By the time you’re done reading, we think you’ll have a strong grasp on the necessary steps involved. In this guide to starting a business in Indiana, we’ll discuss all the relevant details to business ownership in this state. Do you have a great business idea, but you’re not quite sure how to get from the idea phase into owning and operating your own business in Indiana? You’ve come to the right place! There are many important aspects to running a company, and like any other state, Indiana has its own rules and regulations to consider.
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