How To Register A Small Business In New York

To Start a Business in New York, Follow These Steps

Are y'all set up to commencement your ain concern?

Creating a New York business of your own can be challenging. You lot will need adequate funding, time, personal support, and professional support in order to motility forward successfully with your entrepreneurial dreams.

To see if you lot're prepared to take the bound, check out our Entrepreneurship Quiz.

Skip Ahead To:

Choose the Right Business Idea
Plan Your New York Business
Become Funding
Choose a Business Structure
Register Your New York Business
Fix Banking, Credit Cards, & Bookkeeping
Go Insured
Obtain Permits & Licenses
Hire Employees
Define Your Brand
Build a Business concern Website
Promote & Market place Your Business

Footstep ane: Choose the Right Business organisation Thought

The first step toward business ownership is deciding what kind of concern to first. Expect for an idea that suits your interests, your personal goals, and your natural abilities. This will help you stay motivated when the going gets tough and will greatly improve your odds of success. Nosotros have assembled a comprehensive listing of pocket-sized business ideas to aid y'all go started. Demand inspiration? Hither were the near popular ideas amongst our New York visitors in 2020:

Bulldoze-In Movie Theater
Grocery Shop
Liquor Store
Laundromat
Depository financial institution
Security Guard Company

Notice the Right Business Idea for You

Our free Business Ideas Generator volition assist you lot place great businesses that friction match your interests and lifestyle.

Business organization Ideas Generator

Footstep two: Plan Your New York Concern

Successful businesses are congenital through careful planning. Before committing a significant corporeality of coin and other resource toward your business in New York, critically analyze your idea, and create a game program. At a minimum, you should complete the following:

Proper name Your Business organisation

What will you lot proper noun your business? When naming a business, yous'll want to cull an available proper noun that follows New York's naming rules for an LLC or corporation and resonates with your customers. Use our Business Name Generator to find the perfect brand name and website.

Before you reserve your business proper noun, make sure your domain is available.

Find a Domain At present

Once you lot annals a domain name, we recommend choosing a business phone system to enhance your client service. Phone.com provides a loftier-quality phone service that integrates with all devices. Try Phone.com.

Find a Business Location

Practise yous know where your business will be located? Whether yous're opening a brick-and-mortar establishment or starting a business from dwelling — your business location informs the type of licensing and permits you'll need as well as your business'southward growth potential. Doing your research on New York's popular areas such as Queens or Brooklyn tin help increase foot traffic and drive client interest.

Conduct Market Research

Have you gotten to know your market? Earlier you write your business plan, conducting thorough market research is crucial. This can involve conducting surveys, doing search engine optimization (SEO) inquiry, or belongings focus groups. The goal of marketplace research is to meliorate understand your target marketplace and competitors in society to craft an constructive business plan.

Write a Business Program

Have you written a business concern plan? Our Business Program Generator makes writing your business plan easier than ever; merely add your business's information and you're washed!

A well-crafted business organisation plan doesn't just help you lot get organized while you offset your pocket-sized business organization in New York. Business organization plans are used to obtain business concern funding and assistance you lot achieve important milestones.

Here are some of the main components of a well-written concern plan:

Product Development: What problem does your business concern solve? What will gear up your product or service apart from the competition?
Sales & Marketing: Who are your potential customers? How will you lot get their attention and convert them into buyers?
People & Partnerships: What roles will you demand to hire, and what professional relationships will you demand to class in society to succeed?
Financial Planning: How many clients or sales will you need in order to break even? How much money volition it have to get there, and where will you lot get the funding?

Step 3: Get Funding

It'south no secret that you demand funding to start a business, but before you can secure the coin y'all need to embrace startup costs, there are a few things you need to exercise first. Summate your business costs before seeking outside funding. This will help you choose the right funding source for your New York business concern's needs. Next, be smart with your spending and get organized by creating a detailed financial plan.

Explore Concern Funding Options

Bootstrapping: This is the practise-information technology-yourself arroyo to business organisation funding which means y'all provide the uppercase for your business through personal savings as well as your current income. Once your concern is in operation, profit is reinvested back into the concern to go on its growth.
Friends and Family: Financing your business through friends and family loans tin can be a great way to get the capital letter yous need to offset your small-scale business. When mixing business with family and friends, information technology's a good idea to establish a written agreement and repayment plan.
Pocket-sized Business organization Grants: Modest business grants are substantially business funding for your business you don't have to pay back. Y'all can obtain a small-scale business concern grant past completing an awarding process with a grantor.
Pocket-size Business organisation Loans: You tin typically apply for small business loans through a bank or other lending institution. This funding method requires repayment but will provide you with the uppercase to encompass startup costs or more.

Larn how to plan, raise, and manage your funds by visiting our guide to Small Business organisation Finance.

Step 4: Choose a Business Structure

Registering your New York company as a legal business entity — such equally an LLC, corporation, or nonprofit — has two major advantages:

Increased brownie
Protection from personal liability in the effect your business concern is sued

Discover out which business structure is right for your new business in New York.

Sole Proprietorship

A sole proprietorship is an informal business structure that isn't incorporated or separated from its owner. This means that 100% of the business organisation's profits go to the owner; however, 100% of the financial liability should the business accumulate debt or become sued falls on the owner likewise.

Partnership

A partnership, like a sole proprietorship, is an informal unincorporated business structure just with multiple owners. Similarly, partnerships do non take liability protection that you notice with a formal concern structure.

LLCs

A limited liability visitor (LLC) combines the personal asset protection of a corporation with the flexibility of a partnership or sole proprietorship. About pocket-sized businesses prefer the LLC structure due to its piece of cake maintenance and favorable tax treatment. Discover out if you should start an LLC for your minor business.

Corporations

A corporation is a separate legal entity that is owned by its shareholders. Corporations have more formal regulations than LLCs and tend to be more than attractive to investors. Well-nigh large companies similar Apple fall under the corporate category.

Nonprofits

A nonprofit organization is 1 that is funded by donations instead of investors. Nonprofits are typically created to further a social cause and are exempt from paying taxes. The Red Cantankerous is an case of such an organization.

If yous choose not to register your visitor every bit a business entity, you will be held personally responsible for the debts and liabilities of your business concern.

In addition, partnership and sole proprietorship business owners may demand to file a DBA, known in New York every bit an causeless proper noun.A DBA is not a business structure and does non give you and your personal belongings the protection similar an LLC would.

Find out more nearly how to file a DBA in New York past visiting our guide.

Step 5: Register Your New York Business organization

Once you've chosen your concern structure, the next step is to course your business concern. No thing what formal business structure y'all cull, there are a few common steps, including:

Naming your business
Choosing a registered agent: an individual or business entity that accepts tax and legal documents on behalf of your business concern.
Getting an Employer Identification Number (EIN): a number assigned past the Internal Acquirement Service (IRS) to help place businesses for taxation purposes.
Filing formation documents.

In addition to these steps, each business structure has its own requirements that are unique to that business organisation structure.

Here are the steps you demand to take to register your business concern:

Course an LLC in New York

LLCs are the simplest formal business structure to form and maintain. With less paperwork than other business structures, you can easily class an LLC in six easy steps.

Name Your LLC
Choose a Registered Agent
File Your LLC With the State
Follow New York's Publication Requirements
Create an LLC Operating Agreement
Get an EIN

To file the Articles of Organization for an LLC in New York, you must submit formation documents to the Department of State online, by mail, by fax, or in person, along with the $200 filing fee.

Read our full guide on How to Form an LLC in New York or accept a professional service course an LLC for y'all.

First a Corporation in New York

If y'all retrieve starting a corporation is right for your business, there are five steps to starting your business equally a corporation. Additionally, yous'll need to make up one's mind the type of corporation your business organisation will be, such every bit a C corporation or S corporation.

Proper noun Your Corporation
Choose a Registered Agent
Hold an Organizational Coming together
File Formation Documents
Go an EIN

To file a Certificate of Incorporation for a corporation in New York, you must submit formation documents to the Section of State online, past mail, past fax, or in person forth with a minimum $125 filing fee.

Read our full guide on How to Start a Corporation in New York.

Form a Nonprofit in New York

Choosing to form a nonprofit involves many of the same steps as a corporation or LLC; however, with this business concern construction, you can apply for tax exemption, otherwise known as 501(c)(iii) condition, through the IRS.

Name Your Nonprofit
Choose a Registered Agent
Select Your Board Members and Officers
Adopt Bylaws & Conflict of Interest Policy
File a Document of Incorporation
Get an EIN
Utilize for 501(c)(3) Status

To file a Document of Incorporation for a nonprofit in New York, you must submit formation documents to the Department of Land by mail, by fax, or in person, along with the $75 filing fee.

Read our full guide on How to Form a Nonprofit in New York or have a professional service course a nonprofit for you.

Step 6: Gear up Business organisation Banking, Credit Cards, and Accounting

Using dedicated business banking and credit accounts is essential for personal nugget protection.

When your personal and business accounts are mixed, your personal avails (your dwelling, automobile, and other valuables) are at risk in the upshot your business is sued. In business law, this is referred to as piercing your corporate veil.

You can protect your New York business organisation with these three steps:

i. Opening a business bank account:

Separates your personal assets from your company'southward assets, which is necessary for personal nugget protection.
Makes accounting and taxation filing easier.

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three. Setting up business accounting

An accounting system helps you track the performance of your business and simplifies annual tax filings. Quality accounting software lets you lot download your bank and credit carte du jour transactions, making bookkeeping fast and easy. Learn more nearly the importance of accounting and how to get started with accounting today. Or, hire a business auditor to help yous navigate all your business accounting and tax needs from payroll to sales tax.

Recommended: An accounting service could be saving your business organisation thousands of dollars a year. Schedule a consultation with a business auditor today.

Step 7: Get Insured

Business organisation insurance helps you manage risks and focus on growing your business in New York. The most mutual types of business insurance you should consider are:

Full general Liability Insurance
Workers' Compensation Insurance
Professional Liability Insurance

We recommend that all minor businesses, including dwelling-based businesses, purchase a full general liability policy. Businesses selling professional advice or services, such as consulting and bookkeeping firms, should as well consider a professional person liability policy.

In New York, businesses with 1 or more employees, including LLC members and corporate officers, are required past law to have workers' compensation insurance.

Pace 8: Obtain Permits and Licenses

To operate your new business legally, you volition need to comply with federal, state, and local government regulations. In many cases, this involves obtaining one or more than business permits and/or licenses. For example, a eatery will likely demand wellness permits, building permits, signage permits, etc.

To kickoff a concern in New York, you'll need different licenses and permits depending on the type of business you're operating. Find out the licensing your business needs past performing a business concern license search or by utilizing the following resources:

Federal: Utilise the U.s.a. Small Business Administration (SBA) guide.
State: Apply for or learn more well-nigh licenses, permits, and registration with the New York Business Express' Business organisation License Alphabetize.
Local: Contact your local canton clerk and ask about local licenses and permits

Recommended: Use a professional person service to aid you obtain required licenses.

Pace ix: Hire Employees

For any business organisation (unless you plan to be your business's sole employee), building a strong team is a crucial side by side step in starting a successful business. But information technology isn't just about finding the right people; you need to ensure you stay compliant with requirements for hiring employees legally. This includes ensuring that you are registered with the IRS for employee taxes and reporting new hires to the State of New York.

Register for New York State Employee Taxes

Get Started

Once you've built your squad, we strongly recommend utilizing a payroll service to event paychecks, rails fourth dimension, and make revenue enhancement flavour more than manageable.

Step 10: Define Your Brand

The strongest and nigh memorable businesses are congenital on a solid brand. When developing your make, yous should consider:

what your business concern stands for
what are your core values
what volition earn customer trust

One time yous feel confident well-nigh your answers to these questions, information technology's time to move onto your business name. Your business proper name is the cornerstone of good branding and a successful business. To larn more about creating the best name for your business concern, read our How to Name a Business guide.

Terminal only non least, try our Free Logo Generator to get a unique logo for your business concern in New York. Our logo maker is free (no sign-ups or electronic mail address needed) and it comes in all social media sizes. It's easy and hassle-free--with no pattern feel required! Or, if you desire to explore your options, you can also use this free logo maker past Tailor Brands.

Step 11: Build Your Business Website

Subsequently defining your make and creating your logo the next pace is to create a website for your business.

While creating a website is an essential step, some may fear that information technology'south out of their reach because they don't accept any website-building experience. While this may take been a reasonable fearfulness back in 2015, web technology has seen huge advancements in the past few years that makes the lives of pocket-size business organisation owners much simpler.

Here are the main reasons why you shouldn't filibuster building your website:

All legitimate businesses have websites - full finish. The size or industry of your business organization does not matter when it comes to getting your business online.
Social media accounts similar Facebook pages or LinkedIn business profiles are not a replacement for a concern website that you ain and control.
Website builder tools like the GoDaddy Website Builder take fabricated creating a bones website extremely unproblematic. Yous don't need to hire a web developer or designer to create a website that you can be proud of.

Using our website building guides, the process volition be simple and painless and shouldn't take you any longer than 2-3 hours to complete.

Step 12: Promote and Market Your Business

Promoting Your New York Business concern

There are many different methods to promote your business in New York, only the most effective methods are:

Press Releases
Facebook
YouTube
Google My Business

Printing Releases

Printing releases are a not bad mode to promote your make and are one of the most cost-effective strategies as they:

Provides publicity
Establish your brand on the web
Improve your website'south SEO, driving more customers to your website
Are a ane-time cost in terms of attempt and money
Have long-lasting benefits

Recommended: TRUiC has negotiated a 25% discount for you on a service that will write and distribute press releases for you.

Facebook

A Facebook page is a bully, free manner to interact with your customers. But, it does require ongoing endeavor to be successful.

A Facebook folio can be used to:

Establish your local business organisation presence
Showcase your business products and services
Communicate with your customers
Become and share reviews from customers
Promote your business through ads, though this may not be suitable for your business.

YouTube

With billions of global YouTube users, there is a giant customer base looking for content your business could be producing. A YouTube channel for your business tin can exist used to:

Improve your SEO by boosting your Google ranking and conversion rate.
Drive social media engagement and create stronger bonds with your customers.
Provide detailed explanations about products and services.

Google My Concern

Google My Business concern is a helpful tool that allows businesses to manage how their concern appears on Google'south search engine results page (SERP) and Google maps.

Google My Concern can exist used to:

Link to important information about your business such as your website, physical accost, hours of operation, phone number, and customer reviews.
Increment brand awareness by improving local SEO and driving traffic to your website.
Engage with customers and increase credibility.

Get Help From Local Resources

New York Formation Guides

How to Form an LLC New York
- Should I Start an LLC for My Small Business?
- Cost to Form an LLC in New York
- New York LLC Name Search
- How to Cull a Registered Agent in New York
- How to File LLC Manufactures of Organization in New York
- New York LLC Operating Agreement
- New York LLC Biennial Report
- How to Dissolve an LLC in New York

How to File a DBA in New York
How to Start a Corporation in New York
How to Start a Nonprofit in New York
- How to Keep Your New York Nonprofit Compliant

Other Guides

How to Register a Business Proper name in New York
Coronavirus Small Business Relief for New York
New York Sales Tax: Small Business Guide
How to Annals a Business in New York

Business concern Tools

Business Ideas Generator
Business Name Generator
Concern Plan Generator
Entrepreneurship Quiz
Logo Maker