So you’ve got a great idea for a new small business and you’re ready to go conquer the world! But before you do, take some time to consider these important steps in setting up your business that will help you plan, prepare, and manage your business for the future.

1. Write a business plan - Having a plan on paper will not only keep you on task, but will help you think out some obstacles you may be presented with. This will also be beneficial while applying for financing opportunities.
2. Reach out for assistance and training for your business - There are countless resources available that will assist you in preparing to be a small business owner and will allow you to learn from the experience of others.
3. Location, Location, Location - One of the keys to success for your business will be where it is located. It is important to consider zoning laws and the ease of getting in and out for your customer.
4. Determining the legal structure for your business - Whether your looking to be a sole proprietorship, a partnership, a LLC, or a S Corp, there are positives in each category to consider. Make sure you review which legal structure will work best for you and get assistance in getting it set up the right way in the beginning. 
5. Registrations - You’ll need to register for your business name, a tax identification number, and state & federal taxes. It is best to get an experienced business attorney to assist you with these items, as an error in this step could be quite costly.
6. Business Licenses & Permits - Depending on your type of business and where you are will determine what licenses and permits will be required for your business. It is crucial that you consider local, state, and federal regulations to ensure you are in compliance with each before your open for business!
7. Understand your Responsibilities as a Small Business Owner - As your hire employees, work with vendors, and deal with customer situations, there are many legal considerations to be aware of. Consulting with a business attorney will be a major asset in making sure you avoid any legal pitfalls along the way.

Understanding and achieving these steps will go a long way to making your new small business a successful one. The professional and experienced Houston business attorneys at Pipkin Ferguson PLLC will work with you to ensure these steps are taken care of and will be a great partner for your small business going forward. Contact Pipkin Ferguson PLLC today for a consultation.