View Full Version : making a company


havok
01-05-2004, 05:44 PM
I don't know if it's been talked about before or not but I really couldn't find any information here on it. I was wondering how you make your own company? Like what exactly you have to do, how much it costs and that kinda thing. Any help would be greatly appreciated.

Also they said Bob Warner new a great deal about this subject.

Bob Warner
01-05-2004, 07:49 PM
I would not even begin to be an authority on this (or anything else actually, it just invites heated challenges).

You have to think about several things. First, what type of business? I will assume you want to start your own knifemaking business and you are the only employee. Right?

Then your location (state) makes a difference.

I live in Texas. There is no such thing as a business license in Texas. Go to your county courhouse, tell them the name of your business and pay a fee of about $15.

It would be smart to have your business name and about five or six alternatives since they will not let you name your company the same as any other business in your county. You will also want to try to avoid infringing on someone elses trademark. You may do it without knowing it but the other company may make you change your company name later.

You then go to the tax office and get set up with them so you can pay your taxes and get a tax number. They will send you your sales and use permit to post in your business (you have seen these with a dollar in a frame). Some people post this with the first dollar the business makes. They also give you a booklet with the tax amounts to charge for every location in the state. for a knife business this is no problem cause you just charge tax from your location. I do custom ironwork also and have to sell in other cities so I have to charge the tax there sometimes if I build the ironwork there.

You can visit www.sba.com and go through their business startup tutorial.

Also, go to www.score,org and get a counsellor. Score is an organization that retired business people volunteer their time to help new people get started. They have experts in everything. They will help you set up your books and find loans to get you started. They will even teach you how to interview and hire people. ALL FOR FREE. They even assist you by e-mail.

havok
01-05-2004, 10:25 PM
Thank you for the response! That helps me out a great deal.

doublearrow
01-28-2004, 11:09 PM
Mr. Warner seems like you might have the experience to help me if it is just going to be me running a part time (after work) knifemaking business is it best to go into a sole proprietorship? I know you said you are no expert, but i'd rather ask someone who has had the experience and not some accountant just looking for money.