How to Start a Small Business in Washington
The state of Washington joined the U.S. in 1889 as the nation's 42nd state. There are over 6 million people living in Washington. The state's large size, as well as its proximity to Canada and other northwest states, creates various business opportunities for creative entrepreneurs. The most critical step in running a small business in Washington is knowing how to start it correctly. A misstep in the star-tup process can create business headaches further down the road.
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Instructions
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Create a vision and business idea of how you want your small business to function. Take into account Washington's unique history and needs. For example, Washington is known for its notable coffee businesses in the city of Seattle. Consider ways you can build off of this coffee heritage, as well as other unique business strengths that Washington offers.
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Use the Washington State Employment Security Department's Workforce Explorer to determine whether your potential business has competitors in Washington. Search for your potential business' industry and service at workforceexplorer.com/cgi/databrowsing/empByIndSelection.asp to find how many potential competitors you may have. You can also use this information to identify niche business needs not met by the current businesses.
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Write a clear business plan based on the business idea from Step 1. Consult other small businesses for guidance on drafting a working plan. The experts at the Washington State Small Business Administration (sba.gov/localresources/district/wa/index.html) are a key resource for writing a business plan that will work in Washington. This business plan will be the lens through which you and others, such as financial backers, will view and evaluate your small business' success.
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Research small business financing options in Washington. Two notable Washington banks that provide capital for small business start-ups include the Washington Business Bank (wabizbank.com) and Washington Mutual (wamu.com). While bank loans are one of the best ways to obtain large amounts of financing, you can also solicit financial backing from your friends and family members.
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Register your small business with the State of Washington. Determine which registration forms and licensing requirements you must meet by completing the state's small business questionnaire at access.wa.gov/business/inquiry/register.aspx. At the end of the questionnaire, the state will notify you of which forms you need to complete to setup a legal business in Washington.
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