10 KEY STEPS TO STARTING A BUSINESS

 There is no way to eliminate all the risks associated with starting a small business. However, you can improve your chances of success with good planning and preparation.

1. Get Basic Information

The Johnson County Community College Small Business Development Center offers assistance in the areas of business start-up and acquisition, market planning and analysis, business plan development, and accounting and record keeping.

JCCC Small Business Development Center

12345 College Boulevard

Overland Park, KS 66210-1299

(913) 469-3845

www.centerforbusiness.org

Designed to support women as they launch and grow their businesses, the Kansas Women’s Business Center serves thousands of women business owners at every stage of business development.

The Kansas Women’s Business Center

8527 Bluejacket, Lenexa, Kansas 66214
(913) 492-5922

www.kansaswbc.com

The Kansas Department of Commerce publishes a resource guide to starting a business in Kansas. The pamphlet can be downloaded at Steps to Success - A Guide to Starting a Business in Kansas.

 

 

The U.S. Small Business Administration provides a variety of information as well as educational and training opportunities designed to help entrepreneurs start operate and grow their business.

U.S. Small Business Administration (SBA)
323 W. Eight St, Suite 501, Kansas City, Mo. 64105

(816) 374- 6760           

SBA: Starting a Business

The Internal Revenue Service maintains a One-Stop Resource with valuable information for small and self-employed businesses.

 IRS Small Business and Self-Employed One-Stop Resource

The Johnson County Library has numerous resources to help you start a business, find financing, get franchise information, and find resources for women and minorities. Click on Johnson County Library Business Services for links to sources of information on starting a business including magazine and newspaper resources, local resources, online databases, and other research sources.

An easy-to-access network of resource providers, KCSourceLink saves you valuable time. Aspiring, emerging, and existing small business owners can quickly find the right business resource at the right time with the KCSourceLink network.

2. Create a Business Plan

A business plan is like a roadmap; it shows where you are in relation to where you want to be. Whether you believe in a business plan or not, starting a business involves many ideas that need to be documented and actions that need to be taken. Banks require a business plan prior to consideration for a loan.

JCCC Small Business Development Center

12345 College Boulevard, Overland Park, KS 66210-1299

(913) 469-3845       Small Business Development Center

U.S. Small Business Administration
323 W. Eight St, Suite 501, Kansas City, Mo. 64105
(816) 374- 6760          SBA: Business Plan Basics

3. Determine a Business Name

Perform a search to see if your business name is available at Kansas Business Center: Starting a Business.

4. Determine the Legal Structure of the Business

Your choice of legal structure will affect your income taxes and personal liability. You are strongly advised to contact you accountant or attorney for advice and assistance in determining the best legal structure for you and your business. For information on types of legal structures go to IRS: Business Structures. The Kansas Department of Commerce outlines the pros and cons of each type in Frequently Asked Questions of starting a business in Kansas.

5. Determine Eligibility for State Incentives

Tax credits, training grants, and sales tax exemptions are available for many types of new and expanding Kansas businesses. To determine whether or not your business qualifies, contact the Northeast Johnson County Chamber  (913) 262-2146 to set up a personal appointment or the Kansas Department of Commerce Division of Business Development.

6. Select a Site and Determine Zoning and Site Permit Requirements

Search Available Real Estate in Northeast Johnson County and/or contact your realtor for help in identifying a suitable site.

Check with City Hall to make sure your type of business activity is allowed at identified site. Zoning and regulations may prohibit certain type of businesses in certain zoning areas.

7. Obtain any Special Licenses and Permits 

8. Get Tax Information

Several types of taxes may be levied on businesses. For information on state taxes visit the Kansas Business Center: Starting a Business.

For federal tax information and a copy of the Small Business Resource Guide contact the Internal Revenue Service Small Business and Self-Employed One-Stop Resource.

9. Apply for Employer ID Number

A whole new set of responsibilities arises when a business hires employees. Employers must register as an employer and obtain a federal Employer Identification Number (EIN), pay additional taxes, withhold, match and submit employee withholdings, must obtain worker’s compensation insurance and adhere to employee eligibility regulations.

 

The EIN is a nine-digit number that the IRS assigns to business entities. The IRS uses this number to identify taxpayers that are required to file various business tax returns. EINs are used by employers, government agencies, certain individuals, and other business entities. Federal Employer ID numbers can be obtained by completing for SS-4 on-line Employer ID Numbers (EINs) or by calling the Internal Revenue Service.

10. Apply for a State of Kansas Business License

The First Stop Clearinghouse serves as a link between the business owner and state government. The Clearinghouse provides a central point of contact for state government requirements to streamline the registration process, providing some state forms, applications and permits that relate to the licensing of new businesses. The Clearinghouse representative will answer basic questions concerning legal structure, employment, taxes, licensing, and some federal requirements. In addition, the new businessperson will be advised of local contacts that should be made for additional direction and hands-on assistance.

First Stop Clearinghouse

Janice R. Millburn, Business Development Representative
Kansas Department of Commerce
1000 S.W. Jackson Street, Suite 100
Topeka, Kansas 66612-1354
Phone: (785) 296-3803

jmillburn@kansascommerce.com