How to start a business in Brooklyn

When you want to start a business, location matters. And starting a business in Brooklyn will increase your chances of success. Brooklyn is especially known as a hub for small and medium enterprises. However, before opening your business, you will need to make a business plan. Also, you will have to decide on the business idea, and define your target audience. And, this is just the beginning. Before being able to engage one of the best moving companies in Brooklyn, you will need to do a lot of research. For example, you’ll need to know the average rent for office space in Brooklyn. And, how to register your business in NY and start a business in Brooklyn.

Starting a business in Brooklyn requires a good business plan

In an ideal situation, you were already making a business plan. If not, you still might have a general idea of what the business plan is. In short, a business plan is a document defining the objectives of your business. And a roadmap that gives you detailed operational and financial goals. In case you were not sure how to draft it, the best is to consult experts.

Besides, in case you plan to file a funding request, you will need to submit the business plan along with other documents. In general, the business plan should include:

• executive summary
• company description
• marketing analyses
• management plan
• marketing and sales plan
• funding request
• financial plan
• appendix

Take great care during this phase because a poorly done business plan can easily mislead you.

What makes Brooklyn good for starting a business?

First of all, Brooklyn has affordable rental prices. The average asking rent in the 2nd quarter of 2022 was $51.91. The highest rents at $67.28 are in Williamsburg and Greenpoint. However, this is still less than Manhattan’s average asking rent of $74.07. This can also make you decide to relocate your enterprise from Manhattan to Brooklyn. If so, commercial movers Williamsburg businesspeople rely on will move you fast and efficiently. You are not the only one with the idea to open a business there. Being close to Manhattan, a hearth of NTC, you can count on attracting many customers. Besides, companies like Apple, Pfizer, and Google are also having offices there.

Procedure to start a business in Brooklyn

Deciding on business type and location

First, you will have to decide what type of business you want to open. It will depend on your preferences and demand. For example. making ice cream is your passion. And you find out that such shops are not available in Brooklyn Heights. If so, it would be wise to rent the business space there and hire the most reliable commercial movers in Brooklyn Heights. Without competition, you will for sure, develop your business easily.

Choosing a name for your business

When you are planning to open a business, you are required by law to file a Business Certificate. This document is also known as a Certificate of Assumed Name, and it can be obtained in the County Clerk’s office in your borough.

However, before filing a Certificate, you must make sure that some other company is not using the same name already. There are two ways to establish it.

1. the County Clerk’s office will conduct a search – at the time of Certificate filing
2. you can conduct a search of name availability prior to filing a request – using the State’s Corporation and Business Entity Database

Certificate filing fees

Once you find the name and fill up the form, file it at the County Clerk’s office in your borough. The Office is located in the Supreme Court of the respective borough. Also, here is the list of NYC fees:

• Bronx County: $100
• Brooklyn (Kings County): $120
• Manhattan (New York County): $100
• Queens County: $100
• Staten Island (Richmond County): $120

You can also do the online filing by visiting the Brooklyn County Clerk’s website.

Steps to register your Brooklyn LLC after getting the business name approval

Before you hire the best commercial movers NYC can offer, you will need to register your Brooklyn LLC. Here are the steps on how to do it.

• find a Registered Agency
• you will also have to file LLC with the New York Division of Corporations
• next step is to publish LLC in 2 newspapers within 20 days of formation
• get the Employer Identification Number – the IRC assigns this number for tax purposes
• after that, you will have to pen the company’s bank account
• and finally, obtain a license to officially start your business

Types of licenses you may need to start a business in Brooklyn

Before opening a company, you also have to establish what type of licenses will you need. Namely, they defer and are related to certain businesses. To make sure what you need, use the NYC Business site. That was, you will determine your permitting and licensing needs. And, you will avoid being fined or even closed, for not possessing valid licenses. Here is the list of business licenses you might need before hiring Brooklyn commercial movers:

• Sales tax certificate –  it allows businesses selling goods to collect and pay state sales taxes
• Licensed professions – cosmetologists, barbers, security guards, real estate brokers, and home inspectors
• Licensed professionals – medical practitioners, lawyers, CPAs, etc.
• General Vendor license – not having a retail space but selling goods or services
• Liquor license – selling alcoholic beverages to the public (it is issued by the State Liquor Authority)
• Food permit – which is issued by the Department of Health

Cost of business license in New York

As every type of business needs its own type of license, it is not possible to give a precise answer. However, you can pay anywhere from $50 to $150 to obtain a professional business license. Also, there is no standard type of license required in NY. So, to be sure you have obtained the right one, it is good to consult legal advisors.

Free assistance to small businesses

Brooklyn Chamber of Commerce supports the Brooklyn NYC Business Solutions Center. The Center is meant to help entrepreneurs and individuals when starting small businesses. In case you are preparing to start a business in Brooklyn, this Center can give you various useful information. They will help you with getting start-up loans and grants, NYC business regulations, and legal assistance.

References:

Ralph P., The Real Deal, Brooklyn office rents rise and tenants dump space on market, October 10, 2022, https://therealdeal.com/2022/10/10/brooklyn-office-rents-rise-and-tenants-dump-space-on-market/

The Official Website of the City of New York, Registering Your Business, https://www.nyc.gov/html/sbs/nycbiz/downloads/pdf/educational/legal/registering.pdf

NYC311 Portal, Business Registration, https://portal.311.nyc.gov/article/?kanumber=KA-02601