Do you have a good and workable business idea? Are you looking forward to opening a business in South Carolina? If you do, then you should obtain a business license in a South Carolina city, where you would like your business to be located.
There are some required steps of licensure to jump through and this article is to let you know how.
In the state of South Carolina, there is no state business license and cities/counties are responsible for issuing local government licenses. In addition to this, South Carolina has 46 counties and 9 of these counties require obtaining a business license.
Pay attention to the fact that this applies to both online and home business as well. Hence, if you violate the rules, you will have problems and pay some penalties.
The fees to obtain a South Carolina business license differ greatly based on the location. Therefore, it is preferable to get in touch with the local county’s licensing department and get information on the licensing fees.
If you submit the application and all the required documents properly online, then you will get the license in two or three business days. However, it will take you longer to receive the license if you submit the application by mail. In this case, it will typically take you a week or two to receive the license.
Before you start a business, you must decide on its type and make a good choice. To do so, you must consider trends, costs to start, tips, market demand, capital and finance, competition, location and so on.
To put it plainly, you should think carefully and take into account both the negative and positive sides.
To start the business, you must consider the location of your business. To put it differently, you should see whether a location is suitable for your business in terms of competition and success.
Once you have though and done your search carefully, you can be certain about your choice of business location.
A business entity is not a type of business, but a business structure (how you organize the business). You should choose one of the following types of business entities:
In addition to this, your choice will mainly depend on the way you want to manage the business. For example, you may want to run the business on your own, or you may want other members involved.
As we all know, not all individuals run their businesses under their full legal name (name, surname). Quite the opposite, many entrepreneurs choose a fictitious firm name/doing business as (DBA) and the company operates under the given name.
As a matter of a fact, you should select a business name and register it. To do so, you must contact the location’s County Clerk’s office and get the Certificate of Assumed Name Form. Then, you should fill in the form, notarize it and file it.
It is important to come up with a special and unrepeated name, as you cannot use already used names.
Another key point is to register a trademark as a way of protecting your business. It will also add value to your brand, fight competition and prevent others from using your business name for their own benefit.
EIN (employer identification number) is a tax identification number, which is used to identify a business operating in the United States of America. You will need this number for filing tax returns, opening a bank account, applying for a business license or permit, and so on.
Only partnerships, corporations and multi-member Limited Liability Companies need to obtain an EIN to carry out the above-mentioned things. As a result, sole proprietorships and single-member LLCs do not have the need to get an EIN.
In the state of South Carolina, each county has its own licensing rules and regulations. Thus, to apply for a business license, you must follow the County clerk’s application process and pay the required fixed fees.
Note that some counties use online forms of application, whereas other completely prefer paper applications.
In the long run, you should also open a new bank account to conduct financial affairs of the business. This is the best possible way to separate personal finances and business money. It will also ensure that you have not mixed things.
The last step is to find skilled and competent employees for your business, who will contribute to its success.