How to Start a Business in Tuscaloosa, Alabama
- 1). Develop a plan of action with goals for where you would like to see your business in the next year. Topics you should cover include how you will finance your business and market to your target customers as well as who will support the business in meeting these goals. The Small Business Development Center at The University of Alabama provides free assistance for entrepreneurs who need support with business plan development.
- 2). Apply for the business registration that fits your desired business structure. If applying for an assumed name as a sole proprietorship or partnership, contact Tuscaloosa County's clerk office to find out the procedure for registering. In the case of a corporation or limited liability company, contact the Tuscaloosa County Judge of Probate. Also register for an Employer Identification Number (EIN) with the Internal Revenue Service (IRS). This can be done at www.irs.gov to receive an assigned number immediately.
- 3). Pursue and attain financing to fulfill the tasks of your action plan. Not only should you have personal resources dedicated to your business startup, but you may also need to approach investors and banks such as Bank of Tuscaloosa or First National Bank of Central Alabama. Utilize these finances to, at the minimum, purchase equipment and supplies, secure a lease for and renovate your location and as a cash reserve for contingency purposes.
- 4). Apply for licenses and permits required for your business to operate including professional licenses approved by the state of Alabama, a Tuscaloosa business license, zoning permits and any special permits. Expect to pay fees for any necessary licenses and permits. Determine your business opening date based on the approval of these items and any location preparation that needs to take place afterward.
- 5). Execute your marketing plan and attract people to your business. Join organizations such as The Chamber of Commerce of West Alabama, and local chapters of trade and civic organizations to network with others who can help your business have a strong start in Tuscaloosa.