How to Start a Business in North Carolina

Start a North Carolina business.

As a North Carolinian with dreams of controlling your financial future, you may decide that starting your own business is the right first step toward this goal. Registering your new North Carolina business merely entails filling out and submitting the appropriate business registration forms, depending on the nature of your new business. However, you will have plenty to do after that if you intend to succeed.

Things You'll Need

• North Carolina business registration forms

Instructions

1. Compose a business plan. A strong plan shows your understanding of starting a business in North Carolina. Seek counsel from reputable, established North Carolina business owners in your industry if possible. They can offer important planning tips for your business' early stages. Your business plan details your new North Carolina company's intended path and structure. Study the Small Business Administration's plan writing tips if you are uncomfortable devising a business plan. The Service Corps of Retired Executives, or SCORE, will lend a hand if asked.

2. Choose a location for your new North Carolina business. You will need an address for the business registration forms whether you have an office or storefront. This can be a home address for starters, or a permanent location if you intend to start a home business. Take traffic and customer or client convenience into consideration in deciding your location.

3. Seek grants and business loans if you do not have enough start-up money for your new North Carolina business. Consult you area's Small Business Administration office to find out about available grants and loans specific to your business and situation. Present your business plan if you get to speak with potential investors. This is where a well researched plan that details revenues and expenses can help to clinch the financing you will need.

4. Choose a legal structure for your new North Carolina business. Select from sole proprietorship, partnership, Limited Liability Company (LLC), or incorporation. Speak with your advisers and any business partners you may have about which structure makes the most sense for your goals. Each structure offers advantages and disadvantages in the way of taxes and legal liability.

5. Choose a name for your new North Carolina business. Check your desired business name's availability from the North Carolina Secretary of State Corporations website. Enter your desired business name into the search field on the "Search By Corporate Name" page.

6. Complete your business structure's appropriate registration form. Download the form from the North Carolina Secretary of State Corporations website. Mail the completed form to the office address listed at the top of the page. Remember to enclose any registration fees with the mailing. You may also bring the form to the listed address in person.

7. Wait for your new North Carolina business Employer Identification Number (EIN) to arrive in the mail. The EIN may arrive in an email if you provide an address on the registration form. Use the EIN for tax identification purposes.

Tips & Warnings

• Visit the North Carolina Department of Commerce website to read a list of industry-specific licenses and permits. Find out whether your business requires a license or permit. Operating without one may result in fines and other penalties.

References

• Business.gov: Starting a Business in North Carolina

Resources

• Small Business Administration: Write a Business Plan
• North Carolina Secretary of State
• North Carolina Department of Commerce