2 Easy Steps To Incorporating An Online Business
Starting an online store requires the same diligence as starting a physical store.
The internet has taken the playing field to new levels for small business owners everywhere. Online stores are fairly easy to start, but like any other business, you want to make sure that you establish a strong footing for your online business, and avoid unexpected surprises in the near future.
1. Choose a Name For Your Business
Choosing a name for your online business is a very important step in the startup process of a business. Because your business will operate primarily online, it is important to ensure that your chosen name is available within the digital world.
Before choosing a name for your online store, we recommend checking for availability for:
- Business Name In Your State
- Domain Name ( Website Address) – Click Here to learn more about choosing a domain name
- Usernames on different social media channels you plan on having a profile on.
2. Choose a Structure For Your Online Business
It is important to reflect on the type of business structure you want to create your business with, the majority of small business owners choose one of the following structures.
- Limited Liability Company (LLC)
An LLC is a good choice for most companies that are starting off because it offers limited liability without the complications of incorporation, making this the most popular small business structure.
Partnership Business Structure may seem appealing to those who are looking to start a business with a partner, but there are no limits on liabilities similar to a sole proprietorship.
- Sole Proprietorship
a Sole Proprietorship business structure is the simplest of all business structure but lacks limited liability and simple offsets.
A Corporation has a few similarities to an LLC, and one of them is it provides limited liability. A corporation can become very complicated to configure, and maintain, but it can be a great choice depending on your needs.
We recommend that you consult with an attorney to determine which of the business structures is the best for you.
We recommend an attorney because every structure has its own tax requirements.
With that said we recommend you talk to a tax professional that works with online businesses and an experienced attorney in the business field.
Where Can I Incorporate My New Online Business?
To Incorporate a new online business, we recommend you use legalzoom.com for your incorporation, trademarks, and any other questions about this topic.
At Legal Zoom you should also be able able to find an attorney and anything else that you need to begin your online business.