STARTING A BUSINESS CAN BE CONFUSING

We’re often asked by artists if they should start a business and how. While there are many advantages to setting up a legal business, it can be very confusing to figure out where to begin and what steps to follow. That prevents many artists from taking the steps to set up their business.

While we can’t make business decisions for you, we can point out a few useful considerations. First, creating a legal entity, such as an LLC, can separate out your business endeavors from you personally and thus offer a degree of legal protection. You may also have certain tax benefits you wouldn’t have otherwise. Also, if you’re involved in retail sales (most artists are selling their original works and prints) then getting a retail license means that you might not have to pay sales tax on items you’re purchasing for purposes of resale.

But how do you register a business such as an LLC in South Carolina? How do you get an Employer ID Number? Do you then need a business license and, if so, how do you get one? If you need a retail license then where do you get that?

The good news is that…

SOUTH CAROLINA HAS MADE IT PRETTY EASY

The state of South Carolina has a website dedicated to starting a business in SC with step by step instructions on what you need to do and links to where you do them. It pretty well covers everything you need to do to set up a business in the state and you can do it all online. Visit the South Carolina Business One Stop 9 Step Guide to starting a business in South Carolina.

ATTORNEYS AND ACCOUNTANTS ARE WORTH IT

None of this should be considered a substitute for sound legal advice, and that’s why you should consider hiring a good attorney and an accountant for both setting up and maintaining your business. In our opinion, they’re worth every penny. You want to be sure that everything is set up and operating properly from the beginning and it’ll save you a lot of headaches in the future. They’ll also be able to advise you on business structure and how to best take advantage of any benefits you may get from establishing a business.

FIND A BUSINESS MENTOR

Another helpful idea is to find a business mentor. For this you can look into the SCORE Association, who provides free business mentorship, here: https://www.score.org/