Starting a business is easier than you think but for the times when you need assistance, we’ll be there to help you.
It’s hard to know what you don’t know which is why Launch is committed to educating our customers with valuable information and insights that increase your business success rate while decreasing time and money waste. We are your solution to end the confusion.
Forming a business entity is one of the most important steps you can take on your amazing new journey. Not only does it legitimize your efforts but can be your biggest wealth-creation tools.
Nearly 5.1 million businesses were starting in 2021. But roughly 20% of all businesses fail in the first year and almost 60% fail by year three. Because of this we’re hard at work on some ground-breaking growth tools to help you grow after you launch.
Let us save you time, money, and energy by providing you with some important resources that will take you down the right path.
Are you thinking about starting a business? Not sure where to begin or what you need to do to ensure success? Well, we have some answers for you. Here are 10 things that will guarantee success in your business.
Frequently Asked Questions
LLCs are the most popular legal structure because they:
To start your LLC, follow these steps:
An LLC and a corporation are both types of businesses that help protect the owners from certain business liabilities and debts. But, an LLC is owned by one or more people, while a corporation has shareholders. And, a corporation typically follows more rules and has to keep track of and report certain things.
When you’re an LLC, you get to choose how you want to get taxed. If it’s just you, then you file as a sole proprietor. If there’s more than one of you, then you can file as a partnership. And for any kind of LLC, you can also decide to have your taxes done like a C-corporation or an S-corporation (that has special rules and requirements).
Starting an LLC can cost as little as $349 plus state filing fees. Don’t forget that a lot of these costs can be deducted from your taxes.
The filing certificate, also known as the “Certificate of Formation” or “Organizational Certificate,” is a document that serves as proof of your LLC’s existence. This document is issued by the state government after the Articles of Organization have been filed. It should include information such as your LLC’s name and date of formation, and be signed by a state official.
Articles of Organization:
The Articles of Organization is a form that needs to be filed with your state’s Secretary of State office or other designated agency in order to register your LLC. This document includes important information about your company such as its name, address, purpose, and members (if applicable). Once filed and approved, this document officially creates your LLC.
An operating agreement outlines how your business will operate and lays out certain rules for running the company. This agreement should include details such as how profits will be split among members (if applicable), voting rights for each member, and how decisions about the business will be made. While not required in all states, having an operating agreement in place can help prevent issues from arising later on down the line.
Business Name Reservation or Business License:
Depending on where you live, you may need to either reserve a business name or obtain a business license before registering an LLC with the state government. Reserving a business name allows you to use it exclusively for 180 days; obtaining a business license enables you to legally operate within that particular jurisdiction.
An Employer Identification Number (EIN) is like a Social Security number for businesses – it identifies them for tax purposes. You will need an EIN if you plan on hiring employees or engaging in interstate commerce activities such as selling products online across multiple states. Furthermore, some banks require an EIN when opening up accounts related to business transactions even if there are no employees involved yet.
–Madam C.J. Walker, first black American woman to become a self-made millionaire
Fill out the form below to request copies of official documents for your business: