While opening a business is exciting and often the realization of goals you have had for years, it also comes with a mountain of paperwork. One of your primary responsibilities before officially launching your business is to apply for the various types of business licenses that you need. We discuss some of the most common ones below.
Business Operating License
As one of the most basic types of business licenses, you will apply for, the business operating license allows you to own a business and operate it in your local municipality. Each county, city, and state has its own requirements in terms of the documents you must submit before you can legally operate your business there. You will need a business operating license from your local city and state at a minimum. Some industries also require a special operations license.
Health and Safety License
You will need to apply for a health and safety license for your business if it regularly serves the public or has a higher risk due to the industry. Some common examples of businesses that require this license include gyms, restaurants, hotels, and those that handle flammable materials. Your local fire department must inspect your business before issuing any business licenses in these situations, which makes up the safety portion. The health portion ensures that the environment of the establishment and any food served is safe for the public.
Building Permits and Zoning
You may need one or several business licenses if you intend to build or purchase a building where you primarily conduct business. For example, you will need a building permit if you plan to purchase a tract of land, restore an existing building, or purchase and install new appliances. Consider visiting your local zoning department if you aren’t sure what other business licenses you need.
A consultant at Steadfast Funding Partners would be happy to help you explore your business license obligations. Please contact us to request an appointment.