New Business Start-Up Assistance

As an insurance agency that started from scratch with zero customers, we understand the thought, time, risk and resources that every new business owner invests into their start-up.

We’d like to share some information and resources that may help you in your new endeavor.

We would highly recommend that any new business owner should establish a strong relationship with a professional in the industries below. These professionals will be extremely valuable assets in the establishment, growth, and success of your company.

Help your business get started… the right way – By checking out the info below:

New Business Resources & Links

Accountant: 

First, find a great local accountant. They are much for affordable and easier to work with than large national payroll companies. An accountant can help you:

  • Decide what kind of entity you would like to operate as. They will do all of this through the TN- Secretary of State’s online portal.
  • They will help you apply with the IRS to obtain your Federal Employer ID Number (FEIN) – this is like a business ID for tax purposes.
  • File for workers compensation exemptions for the business owners / officers if desired. – This is also done through the Tennessee Secretary of State’s online workers compensation exemption portal. (You must have your County business license, FEIN, and applicable fee to file this)
  • Assist you with the managing of your books, payroll, employment taxes, and business tax returns. Based on our experience and surveying of customers- local accountants and bookkeepers are on average 40% percent cheaper than the nationally advertised payroll companies.

Attorney:

Second, find yourself a local attorney that specializes in business law. You may need to consult one about contracts, employment applications, employer handbooks / practices, or future suits. It is a great idea to have the guidance of an attorney in the establishment of these matters- rather than after a lawsuit for something that could been avoided all together.

Insurance Agent:

Finally- Any agent can write a business policy – but many do not understand or offer essential coverages to protect your business.

  • Find your business a local insurance agency that truly understands commercial insurance and the coverage your business will need as it evolves and grows.
  • A knowledgeable insurance agent will be able to help you review the broad risk associated with your business operations.
  • They will also be able to assist you with resources to set up things such as your FEIN and Workers Compensation Insurance Exemption.