Amid higher unemployment, how do you start your own business in the U.S.?
As a record number of Americans are filing for unemployment, you may wonder how to secure your job and if now is the time to start your own business. Starting a business and ensuring its success can be difficult. There is an overwhelming number of things to consider as you create your business and once you get it off the ground. You will need to pour in some hard work and dedication to make it successful and maintain its growth.
There is no shortage of information and ideas for starting your own business online, but TRUiC is a website that offers a complete guideline that includes everything from business ideas, a business name generator and a whole range of free resources to make it easier.
Where to find business ideas that do well in a recession?
Every successful business starts with a good business idea and a good business ideas tool can help you find it. TRUiC tool offers ideas for any type of enterprise including starting a profitable home-based business or building an online retail store.
In the U.S. over 72% of businesses are operated by sole proprietors and of these 52% are home-based. Online businesses have become popular too and these include eCommerce (online retail sales are currently generating over $500 billion annually and this number is expected to reach $700 billion in 2022) and other digitized services.
Both home-based and online opportunities offer work flexibility, and an online business allows you the freedom to work from wherever you want.
Choosing a new business name with a business name generator
Branding and choosing a name for your new business is vital to its success. TRUiC offers a free online business name generator where you can brainstorm ideas for a business brand name and check for domain availability. They recommend that you create at least 4 potential business names by searching words you want in your business name or by searching the industry name in the search on the Business Name Generator.
Create a catchy business name from these words and then check for the availability of a domain and immediately secure the .com. The techniques they suggest for coming up with name ideas are freewriting, word-associations and mind maps.
Finding a unique business name
- Make it short, creative and catchy
- It should be easy to pronounce
- Ensure that it’s unique
How to register the business name?
Once you have a list of names, you need to ensure they are available in the state your business will be registered in. TRUiC has guidelines on how to register a business name in all 50 states of the U.S. and they also include all the rules and regulations for each business. You also need to choose if you will have a separate brand name and legal business name or if it will be the same. If they are different, you will need to file for a DBA.
Before registering your business name, you need to do a business name search to ensure that it is unique in your state and has an available domain name. You also need to check that the name is not already taken up by another online business by doing a US Federal Trademark Search.
Other requirements after registering a business name
Once you have successfully used TRUiC’s business name generator, secured your domain name and registered the name of your business, you need to take a few more simple steps before making your business a reality.
- Create a successful business plan that will carry your business forward into the future.
- Create a proper business structure for increased credibility and to protect yourself from personal liability. Most small businesses prefer the flexibility of an LLC, but it could also be a sole proprietorship.
- Professional formation services are available to help you structure your business.
- A unique logo will further establish your brand visibility and if you can’t design your own you can opt to have one professionally designed.
If you have been contemplating becoming an entrepreneur, there are over 600 business ideas available for you on the free resources offered by TRUiC. Include with the free business ideas tool you have access to the business name generator and registration tools. Get started today and find out how easy it is to become your own boss.