A sole proprietorship is a business represented by a single individual. The individual alone is responsible for the business financially and legally. It is the easiest and simplest form of business to operate because the start-up costs are typically low, no employees or payroll are required and tax preparation is usually much simpler. Independent contractors, commission-only sales and freelance writers and photographers are all examples of sole proprietorships.

There are 5 basic steps to setting up a Sole Propriatorship:

First: Decide whether you will be selling merchandise or offering a service.

Second: Determine if you need a name for your business or if you will be operating the business under your own name. If you will be using a name other than your own you need to register it by filing a “doing business as” (DBA) form with your county government. In some states you will be required to file the DBA with your city and/or state governments. If you are using your own name you do not need to file any forms.

Third: Acquire the proper licenses to operate your business. You do not need any special licenses to run a sole proprietorship, but if your line of business requires certain certifications you must obtain them.

Forth: Apply for an employee identification number (EIN) with the federal government. This is not a requirement, but it will be very valuable when it comes time to file your taxes.

Finally: Separate your finances. Once again, this is not mandatory. Yet, it is extremely helpful to keep two different bank accounts for yourself and the sole proprietorship. Pay yourself out of the sole proprietorship account. This makes managing all the finances much simpler.

- Learn More About Sole Propriatorships

As a small business owner you invest your time by managing your employees, attend to your customer needs, schedule weekly meetings, strategise & develop new key focuses for the direction of business and also attend to general duties that are part of your day to day job. With all this time invested, who is managing, servicing or advising you of the pre-cautions to take before you encounter a major IT issue/disaster. We offer a variety of IT business services that are designed to improving your business productivity, operational efficiency & customer service. WithFLO Consulting you can focus on running your business and let us handle all your technical IT needs at a very competitive price. Please call for additional information on our list of services and/or require a tailored solution to enhance your business.

Learn More About Entity Services

As a small business owner you invest your time by managing your employees, attend to your customer needs, schedule weekly meetings, strategise & develop new key focuses for the direction of business and also attend to general duties that are part of your day to day job. With all this time invested, who is managing, servicing or advising you of the pre-cautions to take before you encounter a major IT issue/disaster. We offer a variety of IT business services that are designed to improving your business productivity, operational efficiency & customer service. WithFLO Consulting you can focus on running your business and let us handle all your technical IT needs at a very competitive price. Please call for additional information on our list of services and/or require a tailored solution to enhance your business.

Learn More About IT Services

As a small business owner you invest your time by managing your employees, attend to your customer needs, schedule weekly meetings, strategise & develop new key focuses for the direction of business and also attend to general duties that are part of your day to day job. With all this time invested, who is managing, servicing or advising you of the pre-cautions to take before you encounter a major IT issue/disaster. We offer a variety of IT business services that are designed to improving your business productivity, operational efficiency & customer service. WithFLO Consulting you can focus on running your business and let us handle all your technical IT needs at a very competitive price. Please call for additional information on our list of services and/or require a tailored solution to enhance your business.

Learn More About IT Services