Starting a Business
Congratulations! Starting a business is quite an undertaking, and Laurens County wishes you every success. There are many resources available online (any search engine will provide valuable resources) as well as locally. To help you in your endeavor, Laurens County would like to share with you some important information.
Things to Keep in Mind
- Please be aware that there are FOUR different levels of government that can affect businesses in South Carolina: federal, state, county, and city/town. Each level of government will have its own requirements for businesses to operate.
- These requirements can include different kinds of fees, taxes, licenses, and/or permits.
- Please be sure to check with each city or county that your business will either be located in or do business in to see what their business requirements are.
- Nearly all cities in SC and 8 of 46 counties in SC require businesses either located in or doing business in their jurisdiction to have a business license. (No, there is not one business license that covers the entire state.) (These eight counties include: Beaufort, Charleston, Dorchester, Horry, Jasper, Marion, Richland, and Sumter Counties.)
Critical Steps to Consider
To help your business started out on the right foot, there are several critical steps that you should go through before starting your business. These steps are described below.
1. GET MORE INFORMATION! This is so important. The more you learn beforehand, the more equipped you will be to address the many issues that will inevitably arise. Some of the available resources include:
- the Laurens County Public Library Business section.
- the Laurens County Business Service Center’s Resources page
- the South Carolina Business One Stop (SCBOS)
- the US Internal Revenue Service – Starting a Business
2. DEVELOP A BUSINESS PLAN. This is a plan for operating your business. Knowing what success looks like and how you plan to get there gives you extra understanding and guidance in starting, or running, your business. A source is the U.S. Small Business Administration.
3. SELECT A BUSINESS NAME. You will need to give this careful thought, as it reflects how your business will be presented to the public. Be sure to give the full and exact same spelling of the name to every agency or organization that needs it. If you wish to “reserve” a name, you will need to “register” the name with the SC Secretary of State’s Office.
4. CHOOSE THE BUSINESS’ LEGAL STRUCTURE. There are several different legal structures to choose from. The selected legal structure will affect your income taxes and personal liability. It is a very good idea to consult with an accountant or attorney for advice and assistance in determining the most appropriate legal structure for your business. Except for Sole Proprietors, all legal structures need to register with the SC Secretary of State’s Office.
The types of legal structures include:
- Sole Proprietors (individual)
- Limited Partnership (LP)
- Limited Liability Partnership (LLP)
- Limited Liability Corporation (LLC)
- Corporation (Inc)
5. DETERMINE THE BUSINESS ACTIVITY CODE. The North American Industrial Classification System (NAICS) code is a federal coding system used to identify each business activity. (These are the “next generation” of SIC codes.) It is critical to select an accurate code for your business to accurately reflect what your business will be doing. Go to the online NAICS code website to find your 2012 NAICS code. Be sure to give this same code to every agency or organization that asks for it.
6. FIND A LOCATION AND DETERMINE ZONING AND PERMIT REQUIREMENTS. LEARN BEFORE YOU LEASE! It is essential that you identify what the requirements are to conduct a given business activity at your desired location – BEFORE you are committed to a lease or purchase anything for your business.
However, you must first know with certainty what city limits you are in, or if you are in no city limits at all. This will allow you to determine whose requirements you must comply with. To determine the jurisdiction, please use the County’s mapping website: (1) click the “Layers” icon, (2) click the box beside the “Boundaries: Municipalities” box, (3) click the “Search” icon, (4) enter the location address, (5) press “Enter,” and (6) click the red dot on the property. The “MuniCode” in the box that pops up shows the initials of the city that the property is located in. (No pop-up box means the property is not in a city limits and is under the jurisdiction of Richland County Government.)
The County’s Planning and Development Services Department will be most happy to help you find the property’s jurisdiction and help you understand the requirements applicable to your business.
7. APPLY FOR ANY APPLICABLE LICENSES AND/OR PERMITS. Some good resources to learn more about what State and local licenses or permits may apply to your chosen business activity are shown below:
- the State of SC Department of Revenue (DOR)
- the State of SC Department of Labor, Licensing, and Regulation (LLR)
- the State of SC Department of Health and Environmental Control (DHEC)
- the State of SC Department of Social Services (DSS)
8. GET TAX INFORMATION. Remember that there are four levels of government – city, county, state, and federal. Each one may have taxes that apply to your business. Some resources to learn about these taxes are shown below:
- the Laurens County Auditor’s Office
- the Laurens County Treasurer’s Office
- the State of SC Department of Revenue (DOR)
- the US Internal Revenue Service (IRS)
9. LEARN ABOUT RESPONSIBILITIES ASSOCIATED WITH HIRING EMPLOYEES. Hiring employees includes other responsibilities with the State and federal government. Some resources for more information include:
10. APPLY FOR A BUSINESS LICENSE. Each city in SC and eight (8) counties (including Beaufort, Charleston, Dorchester, Horry, Jasper, Marion, Richland, and Sumter Counties) in SC require a business license to be obtained for any business which is located in or doing business in their jurisdiction. There is not one business license which covers a business for the entire state – each business will need to get one business license for each city and county the business conducts business in.
If you do not have access to the Internet, the Laurens County Public Library have computers available to the public that can access the Internet.