12 Steps to Starting a Business in Eastvale
With one of the best economic climates in the U.S. and better access to venture capital than almost anywhere else in the nation, starting a business in California is a great choice for entrepreneurs.
The City of Eastvale’s economic development department wants to help you succeed, so we’ve put together a step-by-step guide to get on the fast track to financial and personal independence.
If you get stuck along the way, let’s connect, as we can help you through the process because your success is the backbone of our success.
Step One – Choose the Right Business Idea
The first step in business ownership is deciding what kind of business to start. Look for an idea that suits your interests, your personal goals, and your natural abilities. This will help you stay motivated if the going gets tough and will greatly improve your odds of success. We have assembled a comprehensive list of small business ideas to help you get started.
Step Two – Prepare and Plan your Business
Preparation and planning are critical to the success of your business. Begin thinking of how you will turn your dream into a reality and create an effective business plan that includes financing, marketing, implementation, and beyond. At a minimum, you should complete the following:
Name your Business
What will you name your business? You’ll want to choose an available name that follows California’s naming rules and resonates with your customers. Before you reserve your business name, make sure your domain is available.
Register your Domain
After registering a domain name, consider setting up a professional email account (@yourcompany.com). Google’s G Suite offers a business email service that comes with other useful business tools.
Conduct Market Research
Have you gotten to know your market? Before you write your business plan, conduct some market research to better understand your target market and competitors in the Eastvale area. You can also see a list of similar businesses by following this link.
Write a Business Plan
A well-crafted business plan will help you get organized and can help you obtain business funding and strategize for important milestones.
Step three – Choose your Business Structure
Your entity type influences how much you pay in taxes, your liability, your ability to raise money, and your day-to-day operations. Carefully choose the entity type that will give you the right balance of legal protections and benefits.
Here are some common entity types to choose from:
- Limited Liability Company (LLC)
- Partnership (Limited, Limited Liability, and General)
- Sole Proprietorship
Visit www.sos.ca.gov to learn the details about each entity type.
Step Four – Define a Location
The location of your business is vital to your success. Contact our Planning Department at 951.703.4460 to inquire whether your proposed business use is allowable on a particular parcel before you commit to any long-term lease or property purchase.
Step Five – Register your Business
Your entity type will determine what is required to register your business with the California Secretary of State’s office. You will also need to fill out a Business Registration Application for the City of Eastvale and submit it with applicable fees.
You must file Articles of Incorporation with the California Secretary of State’s office.
Limited Liability Company (LLC)
You must file Articles of Organization (Form LLC-1) with the California Secretary of State’s office.
Limited Partnerships must file a Certificate of Limited Partnership (Form LP-1) and Limited Liability Partnerships must file an Application to Register a Limited Liability Partnership (Form LLP-1) with the California Secretary of State’s office. General Partnership’s registrations are optional. Should you choose to register a General Partnership, file a Statement of Partnership Authority (Form GP-1) with the California Secretary of State’s office.
Write a Business Plan Sole Proprietorship
There are no formation documents filed with the California Secretary of State’s office.
Step 6 – Register a ‘DBA’ or Fictitious Business Name
If a business chooses to do business under a name that does not include the surname of the individual owner(s) and each of the partners or the business name suggests the existence of additional owners, or the nature of the business is not clear by the name of the business, you will need to file a “dba” or “Doing Business As.” This is also known as a Fictitious Business Name. Contact the County of Riverside Assessor-County Clerk-Recorder’s Office to register a DBA.
Step 7 – Get an Employer Identification Number (EIN)
Your Employer Identification Number (EIN) is your Federal Tax ID. It is like a personal social security number for your business. If you intend on having employees, you will need an EIN. An EIN is also used to pay federal taxes, open bank accounts, and apply for business licenses and permits. You can apply for an EIN with the Internal Revenue Service (IRS).
If you will be an employer, you have obligations such as payroll taxes, wage withholding requirements, state disability insurance, and unemployment insurance. Visit the State of California Employment Development Department (EDD) to find out more about the requirements as an employer.
NOTE: Sole Proprietorships are not required to obtain an EIN and may use their social security number.
Step 8 – Get Insured
Business insurance helps you manage risks and focus on growing your business in Eastvale. The most common types of business insurance you should consider are:
- General liability insurance
- Worker’s compensation insurance
- Professional liability insurance
It is recommended that all small businesses, including home-based businesses, purchase a general liability policy. Businesses selling professional advice or services, such as consulting and accounting firms, should also consider a professional liability policy.
In California, businesses with one or more employees are required by law to have workers’ compensation insurance.
Step 9 – Obtain Permits and Licenses
The nature of your business will determine what types of permits, licenses, and certificates you will need. Below are some common permits:
- If you intend to sell tangible goods, including retail and wholesale, you are required to obtain a Seller’s Permit from the California Department of Tax and Fee Administration (CDTFA).
- If you intend to produce or sell food, contact the County of Riverside Department of Environmental Health for all appropriate permits.
All businesses that conduct services in Eastvale will need to apply for a Business Registration with the City of Eastvale. A certificate will be issued and mailed once all forms are submitted, all approvals are completed, and fees paid. Visit our Frequently Asked Questions to learn more about the Business Registration program.
If you will be building a new structure or renovating an existing structure:
- Contact our Planning Department at 951.703.4460 for the required design reviews and plan checks.
- Contact Building Safety at 951.703.4450 for building permits, building inspections, and a certificate of occupancy.
- Contact our Public Works Department at 951.703.4470 for proposed roadway and infrastructure improvements.
Step 10 – File your Taxes
Step 11 – Define your Brand
The strongest and most memorable businesses are built on a solid brand. Your brand is how people perceive you wherever they interact with your business – both the impressions you can control and the ones you can’t. Define what your business stands for, establish your core values, and begin to earn customer trust.
Step 12 – What’s Stopping You?
The City of Eastvale is your partner in business. We make it simple and easy to work with us, so you can get started quickly and efficiently.
Our economic development team is invested in your prosperity, and we’ll be at your side throughout your business development journey. Let us help you envision the possibilities as we elevate Eastvale’s presence on the Southern California map.
If you’re still on the fence, don’t worry, we can help! Check out our ‘start a new business page’ to take an entrepreneurship quiz, review Eastvale business statistics, and more.