How to Set up a New Home Business

If you are interested in setting up a new home business, these are the steps you can follow:

Instructions

Things You'll Need:

• Business idea
• Research
• Business plan
• Accountants and attorneys
• office equipments
• Advertising
• employees
• EIN number

1. Step 1
   Research the new business idea. Check whether there is market for products and services. Research information about how to start a new business from the U.S small business administration. Search the internet for sba.gov.
   
2. Step 2
   Write a business plan. There are so many websites that can assist you in writing a business plan. Search the internet for 'business plan' and you will get websites that have information about to write a business plan. Hire an attorney and accountant to assist you with the legal structure the business. The legal structure of the business (sole proprietor, partnership, corporation) will determine the tax and liability.
   
3. Step 3
   Obtain an employer identification number (EIN) from irs.gov. Obtain federal, state and local licenses. Find a name for your business. Make sure the name is not already taken or you could be sued. Hire a graphic designer to create a logo. You can also make your own logo online at vistaprint.com. Order stationery and business cards containing your logo.
   
4. Step 4
   Purchase or lease office equipments. Hire employees or you can start the business by yourself and hire employees later on. Make a promotional campaign to let people know about the existence of your business.