Posted by: Bryan McArdle | January 15, 2010

GenY Entrepreneurs: The guide to getting open (Part 1)

For me one of the hardest things to opening my business was navigating the bureaucracy of the City, State, and Federal applications and processes to get open. This is something no business book or class teaches you, and that’s why I am coming to the rescue. My personal experience is with the City of Reno, Washoe County and the State of Nevada. It may be different in your neck of the woods but I’m assume some fundamentals are the same.

We’ll start with the name of your company and/or your business. You need that to start because the state and city need to know what to refer to you as, for instance coolness LLC, T-shirt Co., So and So partnership, etc. Once you have the name of your company and business you need to go to the county clerk and file a Fictitious Name Application. In Washoe County that is $20.00. The form is online but it must be notarized and personally turned in.

Once you have that you can file with the state for your State Business License. This is your List of Officers, this too can be found online at the Secretary of State’s Office website. Fill out the information of your co-owners and send it in. This is $125.00.

Now with those applications sent in you need to get workman’s comp insurance, or industrial insurance as they call it. This just take you calling up an insurance company and letting them know a little bit about your business and how many employees you (intend) to have. Do worry about an exact number because they will audit you at the end of the year, and whatever the difference is to how many employees you really had they will charge or credit you. I have always been credited, FYI.

Once you have a Ficticious Name, a State Business License and Workman’s Comp (Industrial ) Insurance now you can go to your city to get your actual business license. The City/Town Business License is a process all it own and I will walk you through that later.

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