Entering the Big Wide World of Business
First I just have to say God bless America.
Seriously. No sarcasm at all. I love this amazing country of ours, and I love it a little move today. Here’s why.
If you’ve been following the blog from the beginning you just might maybe remember a post I wrote that mentioned how I was planning on putting together a little video production company. Nothing huge, me and a couple friends maybe, just making little videos for small business and organizations and such. People who couldn’t afford your average professional video production price tag. A five minute video can cost you around $2,000 dollars and up. I figured I could work for a tenth of that and still make better money than I am now.
Well I’m finally doing it. I’m officially starting a small business. Here’s some background info.
There are several kinds of businesses you can start, but the easiest one (and the one I’m doing) is a sole propreitorship. A sole propreitorship means that you own the company and that’s that. The company basically is you. That means the money you make goes straight into your pocket and you just have to report it on your regular income taxes. The downside is that if your business is sued for negligence or fraud or whatever then you have to make the reperations. Also if the business goes into massive debt then you are in massive debt. They can even come after your house and personal posessions if you can’t pay. Still it’s the easiest and free-est way to start a business, and if you’re just starting out (and you haven’t borrowed gobs of cash to start your business) then it’s the one I recommend the most.
Now here’s why I love America. I decided to finally go and fill out all the paperwork I needed to officially start my business. Here is what I found out: in the city of Eugene (where I’m currently staying) you only need a business liscence if you’re a tobacco provider, a transportation business, or a payday lender. If you’re anything else you don’t need a thing. Secondly, if you’re starting a sole proprietorship with no employees that is doing business under your own name (for example, John Smith Plumbing) then you don’t need to register your business with the state of Oregon. You have to register bupkis with the federal government, as long as you fill out your taxes right come April. I didn’t need to do a thing to start my business other than to have the will to do so. Yesterday I had no business: today I do, just because I decided to.
God Bless America.
My business goes by Mark Hamilton Video. We can provide quality video production for people, businesses, and organizations with a small budget. If you’re interested in making a video for cheap then you can email me at email@example.com. If you’re interested in starting a small business, go for it. You’d be suprised how little is holding you back.