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How to Start a Business That Can Contract With the Federal Government

You have to complete a number of steps in order to contract with federal government.  If want to start a business, here are some steps you'll need to take in order to do so. These are fast track steps and are to be used as a guide:

    1. Plan the type of business that you want to start. This is a critical step that must be done in order to build a successful business. Planning involves decisions such as your business location, your business structure ( Sole proprietorship, Corporation or LLC/LLP) and obtaining the necessary licenses and permits. By all means choose a business doing something that you enjoy. If you start a business that is much like "working" chances are you won't enjoy it.

    2. Choose a business name. This is a very important decision. It will be one of the faces of your company.  A good rule of thumb is to select a name that is relative to the product or service that you are providing.  For instance, if you sell tires, a good name would be Trendy Tires, Inc. You want to also make sure that the name of your business is not similar to another name. Name similarity can do more harm that good.  Just think what is there was another tire business whose name was Trend Tires, Inc.?  and what if that business had a bad reputation?  How would that affect your new business? Also, be sure to check with the state AND county in which you live to make sure that your new business name is not already taken.  In Texas we filed an assumed name certificate from the county and filed an assumed name certificate with the secretary of state. Also, think ahead about your logo design as it will play an important role for the face of your company.

    3. Register your business. Decide if you want to open start a Sole Proprietorship, a General Partnership, Corporation, S-Corporation, a Limited Liability Corporation (LLC), or Limited Liability Partnership ( LLP).  The most simplest way to accomplish this is through legalzoom.com.  They offer a all in one package and will save you a ton of time and headache.  Believe me, if we would have known about Legal Zoom when Waltco started, we would have saved a ton of time and money.  So, learn from our mistakes. You don't have to hire an attorney or wonder if you are crossing the right "T" of dotting the right "i". Legalzoom handles the headache--they submit the proper paperwork to the proper authorities on your behalf. Depending on where you live, the cost of the products vary.  >>>Read On


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