Guide to Starting a Business

Welcome to the WeAreMV new business guide. If you’re just getting started in your business journey, this simple guide offers 14 practical steps to help entrepreneurs like yourself thrive in the Merrimack Valley. From developing a business idea and creating a plan to understanding zoning requirements and maintaining compliance, you’ll find essential resources for success. Each step includes helpful links to state forms and local permitting guides to support you as you navigate starting and growing your business.

Get Started

STEP 1

Do Your Research

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STEP 2

Register Your Business

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STEP 3

Find a Location

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STEP 4

Determine Your Local Permits

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STEP 5

Navigate Support Programs

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Develop Your Business Idea

STEP 1

Start by defining what your business is all about—what products or services you’ll offer, and who your ideal customers are.

  1. Make Sure to Explore:

    1. Your business concept – What problem are you solving? What makes your idea unique?
    2. Products or services – What exactly are you offering?
    3. Target market – Who are your customers? What do they need?
    4. Market research – Take time to research your industry, competitors, and customer demand to make sure your idea has a strong foundation.

Organizations That Help Develop Business Ideas

STEP 2

A business plan is like a roadmap for your business—it helps you plan where you’re going and how you’ll get there.

It outlines what your business is all about, how you’ll reach your customers, your financial background, and your goals for the future. A well-prepared business plan can also be super helpful when applying for small business loans, grants, or pitching to potential investors.

In your business plan, be sure to include:

    1. Your business goals and strategies
    2. Financial projections and funding needs
    3. Marketing approach and growth plans
    4. Day-to-day operations and team structure

Choose a format that fits your style and needs:

  • Traditional Business Plan (detailed, structured)
  • Lean Startup Plan (fast, flexible)

You can find free business plan templates at:

 

Create a Business Plan

Choose a Business Structure

 

STEP 3

Decide how you want to legally set up your business. Your business structure will affect your taxes, personal liability, and day-to-day operations—so it’s an important step!

  1. Types of Business Structures:

    1. Sole Proprietorship – simple and easy to start, but you’re personally responsible for debts
    2. Partnership – shared ownership between two or more people
    3. Limited Liability Company (LLC) – offers flexibility and limits personal liability
    4. Corporation – more complex, with legal separation between you and your business

To learn more about which one is right for you, visit:

STEP 4

Choose a unique name that reflects your business and helps you stand out.

  1. Before you move forward, make sure your desired name is available by checking the Massachusetts Secretary of State’s website.
  2. If you plan to operate under a different name than your legal business name, you’ll need to file a Doing Business As (DBA) certificate with your city or town.

Find your city below:

 Register Your Business Name

 Apply for an Employer
Identification Number (EIN)

STEP 5

An EIN is like a Social Security number for your business. You’ll need it for tax purposes, opening a business bank account, and hiring employees.

Why You Need an EIN:

  1. To file federal taxes
  2. To hire employees
  3. To apply for business licenses and permits
  4. To open a business bank account

Apply for an EIN on the IRS website