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5 Steps to a Design Company — Life of A Designer

Sunday, November 19th, 2017

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5 Steps to a Design Company

5steps

“Unless you Own the Company, Your Job is Not Safe” Like many people, I found this out the hard way. The economy went down and business decisions has to be made. So, new opportunities have become available to many people. Below are the steps to creating a design company:

  1. Make Your Company Name – Make sure to do a couple of Google searches to see if it is taken
  2. Become An LLC – You can do this online in some states and it will ask you for company name
  3. Get An EIN – Employment Identification Number you will need this for taxes (SSN for a business), business license and checking account, IRS link to information
  4. Get Your Business License – Go to City Hall to the Tax Division/ Department you will need your EIN, and description of what business will do
  5. Get Your Business Checking Account – You will need your EIN to open your account, Banks have different rates, features and fees check the fine print before opening account

Now you are ready to start doing business! In general, the people at the State, City and Bank will be able to help you through this process. Try not to get overwhelmed, starting and running your own business will be stressful at times but will be truly rewarding by affording you the time to spend with family and work on your own schedule. Good Luck!

Disclaimer: These are a basic outline of what you need to do to become a business. Also, there are special considerations for Architecture and Interior Design firms with their boards. Consult legal and accounting professionals for advice before preceding.

About Hugh Shomari Lacy

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