The following are additional things to consider when starting your business or as your business grows.
Consider getting coverage for property damage, liability and business interruptions. There are numerous insurance companies in the area that offer competitive rates.
If you will be hiring employees, you will need to file federal and state withholding taxes (and if self-employed, you will need to file a schedule SE with your federal 1040) and unemployment insurance. Contact the Internal Revenue Service and Virginia Employment Commission for more complete information on the process and necessary forms that will need to be filed. Also, it is highly recommended that you consult an accountant and / or attorney to ensure your businesses takes the necessary steps to avoid costly mistakes in the future. These professionals can advise on necessary taxes that will need to be filed / withheld as well as draft employment agreements, manuals, and other policies to protect you and your business from potential employment legal issues.
There are numerous educational resources available in King George for workforce training and career enhancement. The following is a list of the colleges and universities that have a presence in the county, please visit the appropriate link for more information:
Good luck as you begin your quest in becoming America’s next small business owner! If there is anything that King George County can do to assist you, please do not hesitate to contact the Department of Economic Development at 540-775-9181. We are committed to helping your business grow and prosper in King George County.