What comes 1st?
Updated: Mar 4
When starting a new business, the order in which you should obtain a business license, register your business, and obtain an EIN will depend on the specific requirements of your business and the regulating agency that oversees it.
If your business requires you to obtain a license through a regulating agency, then it's important to start by obtaining the necessary license before registering your business or obtaining an EIN. This is because the regulating agency may have specific requirements that need to be met before you can operate your business legally. These requirements may include passing certain tests or obtaining certain certifications.
Once you have obtained the necessary license, you can then proceed with registering your business and obtaining an EIN. Registering your business will establish your business as a legal entity and allow you to conduct business transactions under your business name. Obtaining an EIN will enable you to open a business bank account, hire employees, and file taxes.
After you have completed the registration and EIN process, you can then focus on business development activities, such as market research, product development, and marketing.
In summary, if your business requires you to obtain a license through a regulating agency, it's important to obtain the necessary license before registering your business or obtaining an EIN.
Once you have obtained the license, you can then proceed with registering your business and obtaining an EIN before focusing on business development activities.