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Do I need to get my business license first in order for me to open up a business?

#business #entrepreneur #business-management

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Doc’s Answer

Starting a business is an exciting prospect Kayalani. It all starts with a good idea. What are you going to offer that will have value, create demand, and attract customers? This is one of the most vital steps for your success. Whether it's a product or service you plan to offer, you need to take time to ensure you will have enough business. There are many factors that determine if you have a good idea, including competition, uniqueness of the idea, geographic area, and target market, among others. Do your homework to see if there's a need for your product or service, if there's demand, and if you'll be able to create a solid business.

Next, make a business plan. There are many programs that will help you walk through the steps of creating a business plan. By going through these steps, you have a chance to think through the details of how your business will be organized. For example, will it be a sole-proprietorship, partnership, LLC, or corporation? Additionally, a business plan will help you consider how you'll finance your company and manage operations.

The next step is to create a team. Regardless of if you're the only employee or if you'll hire some help, you'll need professionals to help you get your business off the ground. If you need help with legal forms, find a good attorney to help you get started. If you have no accounting experience, find a bookkeeper to help organize your books. Be honest about areas where you need help and find qualified people to help you in those aspects.

Now it's time to work through the details. After testing your idea, creating a business plan, getting a business license and organizing a team, you'll know what other details need to be handled before you start. This might include finding a work or commercial space, creating marketing materials, such as a logo and business cards, and, if necessary, acquiring products to sell.

Hope this helps Kayalani
Thank you comment icon John - great answer. The issue is always about distribution and market demand isn't it? Matthew Eby
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Matthew’s Answer

Unfortunately, too many times in business and other fields the answer to a simple question is "It depends".

Expanding on John's answer above and more directly to the question of 'licensing', the answer is it depends on the type of business and where, which state or country, it is located.

For example, doctors and lawyers are licensed and so are banks, but bankers are not.

So, you have to check with the state or country where you would like to start your business and see if you need to obtain a license or if you can simply open your doors after following John's sound advice above.
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Moises’s Answer

Yes, you need all of the business permits. You need to comply to government regulations.
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