Legal Structure: Choosing a legal structure (e.g., sole proprietorship, partnership, corporation, or limited liability company) that determines how the business is taxed and liabilities are handled.
Name Registration: Securing a unique business name to distinguish it from others and registering it with the relevant authorities.
Tax Identification: Obtaining a tax identification number (TIN) or Employer Identification Number (EIN) for tax purposes.
Licenses and Permits: Acquiring any specific licenses or permits required for the type of business, which can vary by industry and location.
Compliance: Ensuring compliance with local, state, and federal regulations governing business operations.
Registering a business provides legal recognition, enhances credibility, and can protect the owner’s personal assets from business liabilities.