Navigating this week was a bit overwhelming for me. The process figuring out the legal structure of your business, licenses needed and becoming tax complaint are enough to make my head spin. I have thought about starting my own business for quite some time now but every time I get to the part of figuring out these three things, I give up on the idea because it just seems too complicated.
As I went through this week's materials and began to research, I forced myself to push away my instinct to abandon the whole idea. I pushed through and found the answers I needed. It turns out that it's not as difficult as I thought. It does require research and proper planning. But as long as I am willing to do those two things, I should be able to figure out everything I need to begin my business.
I think the most surprising thing to me was how easy it is to get a business license. My city has very specific guidelines about the type of license I would need and any inspections that I would be required to get. The actual process of obtaining a license is just a matter of paying the licensing fee and filling out the application. Once approved, I will just be required to pay the license renewal every year to maintain the license.
I don't anticipate going live with my business while I'm still in school, but my long-term plans of running my own business one day are definitely still alive and well thanks to this week's discoveries.
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