Mashable Business Lays Out Process To Start Small Business |

Have you ever dreamed of taking an idea for a small business and turning it into reality? Has the ?where do I start? question stopped you? Well excuses no more! Mashable Business lays out the steps to correctly start a small business in the article below:

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Whether you?re developing a mobile app or digital media consulting group, here are six steps to ensure your home-based business is legit.

1. Select Your Business Name

Even if you?re a solo business, you?ll still want to create a name and identity for your business that?s separate from yourself. Once you decide on a great business name, make sure it?s legally available, as you don?t want to find yourself on the wrong end of a trademark dispute.

Follow these three basic steps to ensure your desired name is available.

• Check with your Secretary of State database to see whether the name is already registered within your state.
• Perform a free trademark search to determine whether someone has already filed a trademark for your name.
• Run a comprehensive national name search into all state and local databases. This can usually be completed for a small fee with an online service. This step is important, since you can still infringe on someone else?s name even if she?s never formally registered it with the U.S. Patent and Trademark Office (USPTO).

2. Incorporate (Or at Least Register Your Business Name With the State)

Forming an LLC or corporation for your home-based startup will protect your personal assets (such as your savings and personal property) from any liabilities the company may encounter. In short, should your business be sued or can?t pay its debts, your personal property may be shielded from any judgment.

Each business structure has its own advantages and disadvantages, depending on your specific circumstances. The LLC is great for small businesses that want legal protection, with a minimum of paperwork and legal red tape. A C Corporation is good for bigger companies that plan to go public or seek VC funding. And an S Corporation can be a good option for those companies who qualify. Your choice in business structure will impact the taxes you pay, so it?s wise to consult a tax advisor or accountant first.

Some new startups aren?t quite ready to take the plunge into incorporation, and that?s okay. If you?ve formed a business and aren?t planning on incorporating or forming an LLC in the near future, you should register your business name with the state. This simple step is known as filing a DBA (Doing Business As or Fictitious Business Name). By filing a DBA, you?ll be legally able to use a business name. And best of all, it ensures that no one else can use your business name in your state.

To see the remaining steps visit the full article at http://mashable.com/2012/11/07/home-business/

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