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How do I legally form a business?
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Decide on a business structure. Depending on the type and size of business you are forming, you may need to select from a partnership, sole proprietorship, corporation, or limited liability company. 2 Research and comply with local and state laws and regulations. Each state has its own laws, fees, and regulations governing businesses. You may need to register your business with the state and obtain necessary licenses and permits before you officially launch.3 Acquire financing. Seek out potential investors, write a business plan, and discuss loan options that may be available. 4 Establish a business location. Determine a suitable location for your business operations. Factors such as zoning regulations, taxes, and availability of resources should be taken into consideration.5 Develop operational policies and procedures. You need to define the operating framework of your business. This includes business policies and processes such as human resources, accounting and payroll procedures, customer service protocols, and inventory tracking systems. 6 Implement a record keeping system. It is integral to keep accurate records of all financial activities and transactions of your business. Weigh the pros and cons of manual record keeping versus software record keeping systems. 7 Promote your business. Create a website, launch social media accounts, develop branding materials and create a marketing strategy to make potential customers aware of your business.