The decision to start your own business is exciting but brings with it a plethora of issues and decisions that are not readily apparent to the novice entrepreneur. At Tacticum we have over a decade of experience and have been through each of the start-up challenges identified below. Like all start-ups we have done well in many areas, made some missteps, corrected, and moved on.
Company Structure? (LLC, SubChapter S, LLP?)
Why the correct name matters
Start up Funding
Mission Statements
IRS employer identification number (EIN)
Home state Office of Secretary of State filing
The Domestication Process
Why Domestication Matters:
First, and most importantly these are serious legal matters that must be done correctly. Not only are the Secretary of State offices involved, but so are the IRS and both state revenue agencies.
From a company standpoint it allows a legal continuity of operations, thereby keeping you entire company history current.
If your company does US government contracting then the it is imperative that you correctly update the System for Award Management (SAM), DLA CAGE CODE, and Dun & Bradstreet.
All things Information Technology (IT)
Web Design
Email structure
Photo/Graphic Licensing
Trade Marks
Domain Name search (state dependent)
Domain registration and hosting
Pick the wrong host and enter business hell
Defining your intended Business Markets
There are limitations and classifications set by the US Small Business Administration.
The North American Industrial Codes (NAIC) set size limits by number of employees and revenue per each NAIC. For some NAICs the limit is defined by both, others only on one of the two.
The SBA also has classification for small disadvantaged businesses, which is especially important in US government contracting.