What's Involved in Setting Up a Business in Missouri?
When you're looking at starting a business in Missouri, figuring out how to go about the process can seem like a confusing process. What needs to happen first? What has to happen and what's just optional? Fortunately, it doesn't have to be difficult to get your business going in Missouri. Here's a quick overview to give you the broad strokes of the process.
Do some research. Is there enough business in the area to support your business? What is the competition like? How will your company stand out from the crowd so that you'll be able to be successful?
Set up consultations with professionals. Talk to experts to determine what's required for licenses, permits and similar information so you'll be in compliance with the law.
Choose your business entity. Will you set up your business as a corporation, a partnership or a sole proprietorship? The organization types have different benefits, so choose carefully.
Register for sales and exemption taxes. This requires working with the Missouri Department of Revenue to register for your sales tax certificate.
Register with unemployment. You'll need to work with the Missouri Division of Employment Security to pay into unemployment insurance to ensure any workers laid off can receive unemployment.
If hiring employees, get a Federal ID Number and worker's comp insurance. This requires filling out a basic IRS form to get this number and purchasing insurance to cover worker injuries.
If required for your industry, register with the required state agencies. There's a handy guide to these agencies off of the Secretary of State's website here.
Register for any required county and city business licenses and permits. This may include health department inspections, liquor licenses and business permits.
Getting a business started in Missouri may seem confusing, but it's actually fairly straightforward once you've worked through what you need and want to get done. But that doesn't mean you have to go through the process alone if you're concerned that you may be missing something. The experienced business professionals at AccountRely can help you get started by giving you the guidance you need. Please feel free to contact us today to get connected to the right professional to help your business thrive.