Starting a business in Los Angeles is surprisingly no big deal so long as you hook up with a legal attorney or expert in business law to help you through the various processes.
The pretty simple steps to getting your business registered in Los Angeles have been highlighted in this post. Read to the end to find out how your business venture in Los Angeles can be successful.
1. Market Research
Some people ignore this aspect just because they see most businesses in Los Angeles excelling. What they fail to understand is that those businesses have over time established a strong base of clientele attracted to the specific brand.
As an aspiring business owner in Los Angeles, it’s important to invest your time and money in carrying out a proper research.
Just like any other place, you need first to have an idea of the type of business you want to venture in. You can also study the market, which is one way of giving you ideas. Once you have an idea, you need to evaluate the market opportunities and see how your ideas can be translated into a profitable business.
Los Angeles is a vibrant and world-class city, and an entertainment hub for movies, Television, Music as well as games. It’s also a technology hub with many successful technology companies established here. Companies like Myspace, Overture, AOL, Hulu and among others are headquartered in Los Angeles. So research is key if you want to start a successful business in Los Angeles.
2. Identify a Suitable Location
Once you have done research on the kind of business you want to start, you so need to know the market you want to position yourself in, how you want to target the market and so on. The next thing to consider is where you want to set up the business.
Location is extremely important in determining the ultimate performance of your business. A wrong location will deny you the opportunity to maximize the potential of your business and will “strangle” your business even before it takes off. A good location will give your business a chance to grow and prosper.
3. Meet Statutory Compliance Requirements
You need to meet the legal requirements prior to starting your business. To start the process, you can find a fictitious business name to use on the Los Angeles County Registrar-Recorder website to complete the online Business Filling and Registration System.
Once the online filling is done, a confirmation number is provided which you need to submit to the Los Angeles County Registrar Recorder County Clerk's office after which you will be required to pay $26 besides completing the business filing process. Most of this information should be available on the website of City of Los Angeles' Office of Finance as well as California Secretary of State Website.
You will also need to get a federal Tax Identification Number for purposes of Internal Revenue Service. Once you have the tax identification number, you will need to apply for a Business License. The last compliance will involve filing your business with the office of the Secretary of State's Office.
If you have any query in relation to starting a business in Los Angeles or any state in the US, don’t hesitate to contact any of the qualified business lawyers or a business attorney at Mollaei Law.
Mollaei Law is a law firm specializing in business law serving businesses and entrepreneurs. We provide legal expertise in all stages of business development by drafting and reviewing contracts and agreements, assisting transactions and negotiating, forming LLC's and Corporations, registering trademarks and copyrights, business planning, and answering any legal questions you may have about your business.