Opening a Company in the USA! What the Event Manager should do - Part 2

Opening an events company in the United States involves several steps and obtaining several documents. Here is a general guide on how to proceed:

General Steps

1. Market Research: Before you start, do market research to understand local demand, competition and opportunities for your event company .

2. Business Plan: Create a detailed business plan that includes your value proposition, marketing strategy, cost structure and financial projections.

3. Choosing Business Structure: Decide on the legal structure of your company. Common options include LLC (Limited Liability Company) and Corporation. Each structure has different tax and legal implications.

4. Company Registration: Register your company with the responsible body in the state in which you intend to operate. This is usually done at the Secretary of State's office.

5. Obtaining an EIN (Employer Identification Number): Request an EIN from the US Internal Revenue Service. This number is essential for tax purposes and for opening a business bank account.

6. Business Bank Account Opening: Open a business bank account for your business.

7. Licensing and Permits: Verify and obtain all necessary licenses and permits to operate an event business in your state. Requirements vary, so check with local authorities.

8. Business Insurance: Consider obtaining business insurance to protect against potential liabilities.

Required Documentation

1. Company Documents: Certificate of Formation (for LLC) or Certificate of Incorporation (for Corporation).

2. EIN issued by the IRS.

3. Operating Agreement (for LLC) or Shareholder Agreement (for Corporation).

Licenses and Permissions

1. Local or state licenses to operate events.

2. Specific permissions for special events, if applicable.

Tax Documents

1. Company Income Tax Declaration.

2. Other tax documents required by local tax authorities.

Standard Contracts

Standard contracts for event services, including terms and conditions, cancellation policies, etc.

Professionals to be consulted

1. Business Lawyer: Consult an attorney who specializes in business law to ensure that all documents and contracts comply with local and state laws. p>

2. Accountant: Hire an accountant to help prepare tax documents and provide guidance on accounting issues.

3. Event Consultant: Consider hiring an experienced event consultant for guidance on industry practices and to assist in developing marketing strategies.< /p>

4. Insurer: Consult an insurance broker to obtain the appropriate coverage for your event company.

Throughout this entire process, it is essential to stay up to date on local and state regulations. Laws and requirements can vary, so working with experienced professionals can make the process easier and ensure your business is in compliance.