I am starting a business that will be ran out of my home in SC. It is primarily an internet marketing business which may include the following activities:
-Variety of Websites generating advertising revenue
-Some websites may sell a product
-Some selling on eBay
-May purchase wholesale items for resale
-Web Design Service
-Some websites may offer services locally (e.g. computer repair)
-Online marketing services offered to local clients
I expect to hire no employees in first twelve months.
I picture the business as an octopus. The head is my business (e.g. 123XYZ Marketing). Then the octopus of course has its 8 legs, which would be made up of the variety of things above. So if I had started marketing 123XYZ Web Design at a local level, 123XYZ Web Design is just a leg of 123XYZ Marketing... As the legs test the water, some will grow, some will change, some will die; as long as the head survives.
So, I need to figure out, how do I put my Octopus on paper, and be legit?
What kind of business licenses are required for a home-based / online based business?
Are you planning to open a main company then break it down to other business/company? Well if that's the case. What I would recommend would be you opening up the main company as an LLC. Then break each company down. You will need to register you main company if it's going to be an LLC with the state of South Carolina. Then register each other company seperately with your register of deeds. Also for every company that you're going to sell anything tangibles, you will need a sales %26amp; Use tax license.
What kind of business licenses are required for a home-based / online based business?
Visit the IRS website to find out the tax implications of each type of business ownership. There will be lots of info necessary. You should also consider hiring an attorney to work through the paper work and legal process of forming an LLC to assure your main company will not lose money as those legs die off. If you need money, the SBA may back your business as long as you have a great business plan. Coming from someone who didn't write a complete business plan because I didn't need financing, I highly suggest you do. I sell online as well and I wish I would've put more stuff on paper. So even though the formalities of a business plan may be a pain, they will be of great use in the future.
I suggest you go to SBA.gov for some more free information. This is a government supported group of experienced business owners to help growing businesses. I assure you it is well worth your time. Visit SCORE.org as well (another free resource) for more information.
