Business Basics How to Start a Business Presented by the Central Ohio Minority Business Association & the Columbus Minority Business Assistance Center J. Averi Frost, Director Columbus MBAC

This workshop will cover: O The Pros and Cons of Business Ownership O The Business Start-Up Checklist O Tools to Use O Tips to Remember

The Pros and Cons of Business Ownership Pros Cons O You’re the boss O You’re in control O Less stress, flexible hours O No limit to your success O No limit to how much you can make! O If there’s a problem, it’s on you. O Start-up phases take time to complete O You may not get paid for long periods O Extra hours O No guarantees your business will succeed

Business Startup Checklist 1) Select a Name and determine you Legal StructureName 2) Obtain your Federal Employer Identification Number (FEIN) Obtain 3) Open a company bank account 4) Determine business location 5) Secure your website domain name and addresseswebsite domain

Business Startup Checklist 6) Obtain licenses and permits. Check the 1 st Stop Business Connection1 st Stop Business Connection 7) Set up an accounting and record-keeping systemrecord-keeping 8) Obtain Business Insurance 9) Systemize and Organize 10) Develop your Business Identity

Tools to Use O Manta.com Manta.com O The Ultimate Business Card Design Kit The Ultimate Business Card Design Kit O DSA Financing Options DSA Financing Options O 1 st Stop Business Connection 1 st Stop Business Connection O IRS Small Business & Self-Employed Tax Center IRS Small Business & Self-Employed Tax Center O COMBA and the MBAC COMBAMBAC

Final Tips O Take advantage of free and low-cost resources. O Use your time wisely, but take the time to get set up correctly. O Be creative in your approach, make yourself unique!

To schedule an appointment to discuss starting your business, please call (614) To view more information about COMBA and the MBAC, click on the logos below!