How to Start a Business in Hayward, California
Described as "the heart of the bay," the city of Hayward, California (population 140,000) is located between Silicon Valley and San Francisco, and is home to California State University, East Bay. Its businesses benefit from the diversified client base that its geography offers. Local small-business development agencies offer advice and networking opportunities for new entrepreneurs.
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Instructions
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Get free business advice. The East Bay Small Business Development Center (SBDC) offers complimentary advice for entrepreneurs in Alameda County. SBDC advisors are experienced in all aspects of starting and running a business, and consult on everything from new business plans to marketing.
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File a fictitious business name. You are required to file a fictitious business name if you do business under a name other than your own. Complete an application and file it by mail or in person with the Alameda County recording office. Once filed, you have thirty days to publish notice of your new business name. The notice must be published in a local newspaper once a week for four consecutive weeks.
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Apply for a city business license. Request a Business Tax Application form from Hayward’s revenue office. The city issues a business license and calculates your annual business tax revenue based on gross income and number of employees.
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Get a reseller permit, which is required if you sell products that are subject to sales tax. You charge customers the appropriate sales tax and forward the proceeds to the state. Acquiring a permit is free, but the Board of Equalization (BOE) may request a deposit for some businesses. BOE requires monthly, quarterly, or annual tax returns depending on your gross sales.
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Apply for an employee identification number (EIN) if you plan to hire staff. This is obtainable from California’s Employment Development Department (EDD). EDD sets up an account for you to pay mandated employment taxes. You also need a federal employer identification number (FEIN), obtainable from the Internal Revenue Servies (IRS) to pay federal employment taxes.
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Open a business checking account to keep personal and business expenses separate. Many banks in Hayward offer free or low-cost business checking accounts, according to the local Small Business Development Center. You'll need to bring proof of your fictitious name when opening the account.
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Check with CalGold for additional licensing and permit requirements. The website identifies permits and licenses needed for specific business types in California.
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Join the Hayward Chamber of Commerce, which offers marketing and network events for local businesses. Become involved and promote your new business to other local entrepreneurs.
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Tips & Warnings
If you need a small business loan, inquire at the bank where you open your checking account. You're more likely to get approved for a loan if you're a current customer.
Get adequate insurance coverage. Your personal insurance policy probably won't protect you from business liability or property insurance claims.
References
Resources
- Photo Credit Business image by Markus Hofmann from Fotolia.com
