Tag Archives: DBA

Business Basics: ‘Doing Business As’ Names

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A ‘Doing Business As’ name is one of the most important parts of a business, but far too often we hear about businesses choosing to put off filing for a DBA until they are a bit more established. Unfortunately this leaves those companies open to all sorts of problems later on as a DBA name is needed for some of the most basic aspects of running a business! But what exactly is a ‘Doing Business As’ name? And why do businesses need to file for one?

What is a DBA Name?

A doing business as name, or as it is sometimes known as a fictitious business name, is the name under which you do business. As a way to reduce fraud, most states require anyone who offers goods or services under a name other than their own to file for a DBA. Doing business as names are typically handled by the Secretary of State or department of corporations of whatever state the company does business in. The entity or person that handles DBA names will sometimes even offer DBA name searches free of charge, ensuring that you aren’t wasting your time by filling out paperwork for a name that has already been claimed.

Why would a business need one?

You are entitled to use your own name for your business if you want to, but any changes or additions to the name would require you to file for a DBA name. For instance, if our CEO Deborah Sweeney opened up a business that paints houses, she could call her business ‘Deborah Sweeney.’ However, if she wanted to call it ‘Deborah Sweeney Painting,’ she would have to file for a DBA name as ‘Painting’ is not a part of her legal name. This might seem a bit silly but as mentioned before, this is largely a way to prevent fraud. As DBA laws are so important to a state’s anti-fraud efforts, you need a DBA name for some of the most rudimentary parts of running your business. Want to open a business bank account? Receive checks written out to your business? Advertise your services using your business’s name? Most states require companies to file for a DBA name before doing any of the above. And, if you don’t complete the paperwork, you could be hit with some serious fines.

How do I file for a DBA name?

Most states have a standardized form available on their website for filing a DBA name. Just head on over to the website for the state you do business in, find the Secretary of State’s page, (in some cases, this may be the page for the department of corporations) download a DBA form, fill it out, and send it in along with the required processing fee. Filing also usually involves either you or the state performing a DBA search before the paperwork is processed. And if you need a little extra help from professionals, we are always happy to help you file for a doing business as name as well!

A doing business as name is extremely important, and it is best to file for one now before you build a lot of trust into the name of your company, only to find that you were actually using a business name that was already claimed. Running a business under an assumed name without filing for a DBA or fictitious name can also land you in hot water with the state and require you to pay a series of fines and penalties. This is definitely something you want to take care of early, so once you figure out what your business name is going to be, start the paperwork and file for a DBA name as soon as possible!

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D is for DBA

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For the fourth week of MyCorp ABCs, the letter D gets a spotlight. The term of focus: DBA!

DBA stands for ‘doing business as,’ but the term has also donned the names ‘fictitious business name’ and ‘assumed name.’ A DBA is an official registration of your business name. You would go about filing for a DBA application if your business conducts any business and/or collects money under any name or title that isn’t your own name. DBAs aren’t just for sole proprietors; if you own a Corporation or LLC and want to do business under a name different than your corporate name, you’d have to file for a DBA. Additionally, if you’re plan on opening a business bank account, you’ll need to register for a DBA as a general requirement from the bank.

One of the biggest benefits of filing for a DBA is the professionalism gained. With a DBA, an owner can now collect checks and payments under their business name, not their personal name. With this new declaration of your official business name, you can start advertising with a real business name. You’ll also discourage others from registering with your name by officially utilizing your DBA, thereby protecting your brand.

Are you on the lookout for some DBA assistance? Our business filing experts can help you save time by filing a DBA application for you. We file your DBA with the required government agencies, and even publish it in most states! You’ll also receive the approval and publication certificate for your records.

For more information give MyCorporation a call at 1 (877) 692-6772

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Open Up Your Own "Lemonade Stand" This Summer

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The joy, the pleasure, the inexplainable rapture of the lemonade stand. We all had one when we were a kid, or some venture that was close to one. Subsidized by the kindness, patience, and hard cash of our parents, most of us know the sheer bliss of making a few bucks selling glasses of lemonade for a nickel a pop. Then, as we grew up, selling lemonade transformed into mowing grass or washing cars. Every summer meant a bit more money for clothes or movies or, if you were more responsible, college.

The work ethic of millions has been built on experiences gained during summer employment. And I feel like it shouldn’t stop when we grow up. We become content – content with our jobs, our lives, our little ruts – and we forget about that entrepreneurial spirit that had us up at 6 AM to wake our parents and build a stand out of old plywood.

This summer, think about opening up a side business. A little space to get some extra cash and that you can make the hours for – something you’ve had a passion about but no real opportunity to pursue. Side businesses are great because they don’t require as much dedication, or money, and let you test out the waters. While you still have a bit of time left in spring, think about:

What kind of business you’d like to run

There is no shame in starting a business to make a little extra money, and there are plenty of entrepreneurial pursuits that will help you do just that. ‘Turnkey businesses,’ things like fast-food franchises and car washes, are always an option. But they require a bit more capital, and if you don’t have much passion for the project you will quickly jump back into your rut and be plenty happy for it.

But if you have a passion for something – business consulting, webpage design, tutoring, selling knives door-to-door…(maybe not that last one) – the best time to pursue it is right now. Most of these businesses can be run as a sole-venture, making you the one and only employee you have to worry about. Plus it is pretty cheap to start a business out of your own home and register it with the state. Heck, some states only require that you file a ‘doing business as’ name and file your taxes on time. So figure out what you’d like to do, and go from there.

How much time you can give to it

Businesses need a lot of time and dedication – that’s why it is so important you are passionate about what you’re doing. Remember that you’ll have to be an advertiser, designer and promoter along with a business owner. Treat this venture like you would a part-time job back in high school. Back when you had to clock in and work your full shift or your angry, slightly rotund manager would come looking to chew you out.

Budget ten or fifteen hours to start with, and then go from there. If you need more time, add more, but try your hardest not to shirk off hours. Even if you come home completely exhausted, give it at least one or two hours before you turn on the TV or head to bed.

When you can start ‘learning on the job’

Learning by doing is a great piece of conventional wisdom that is only half way to the truth. The first part will be researching everything other people in your field are doing so you can see what works and what doesn’t work.

Is there an online message board you can scroll through? Has Craigslist panned out for a lot of them? What common mistakes do you see people making?

However, in the midst of research, don’t forget about that whole ‘learning by doing’ bit. You can spend a lot of time preparing yourself and then never take any real action. Research is cozy and safe, actually acting out is scary and difficult. Just remember that you will make mistakes – even if you did spend countless hours reading about hiring a website designer, using Groupon, or cutting customers deals, you will slip up. Roll with it, remember what that lesson taught you, and keep at it.

Now, if you treated this venture like a part-time job, remained dedicated, and had a bit of luck on your side, you might have something quite astonishing by September. It may not be as tangible as couple thousand dollars towards a new car or a semester’s tuition, but it could be a lot more rewarding. Just don’t let another Summer pass by without knowing if you can make it. If it doesn’t work out, fine – you’re out a small bit of money and could have gotten a bit more sleep.

But if it does work, there isn’t a better feeling in the whole world than to watch the humble beginnings of your own business begin to grow.

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Leap Year Special! $49 DBA's with MyCorporation!

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Doing business under a name different from your legal business name? You’ll need to file a DBA for that- and MyCorp’s team of business filing experts are here to help! Today Wednesday February 29, 2012 is our one-day special on half-off prices for DBA (Doing Business As) Fictitious Business Name filings from our regular price of $99 to $49 from 12am to 11:59pm PST. No coupon code necessary.

Visit us today for our one-day only deal!

For more information on how a DBA works and the benefits of filing for one, check out our official DBA FAQ page!

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Setting Up a DBA

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            A DBA is all about names.  Sometimes called a “fictitious business name,” “doing business as,” “trade name,” or “assumed name,” it is all the same thing.  If an entrepreneur is planning on doing business using a name other than his or her own personal legal name, then they will probably need a DBA.  Most states require a DBA prior to conducting business under a name other than the business name or one’s personal name.

            The most common use of a DBA is probably by those who are sole proprietors.  These are individual business owners who run their business themselves and have just hung out their shingle.  Since most people in these circumstances use a business name other than their own name, it would be necessary to get a DBA.  For example, if Mario wanted to open his own doughnut shop called “The Perfect Doughnut,” he would need to get a DBA that asserted it was Mario doing business as “The Perfect Doughnut.”  This would allow Mario to receive checks made out to the “The Perfect Doughnut” and also sign checks under that name.

            DBAs can also be useful to corporations, LLCs, and other business entities because it can permit them to do business under other names without having to form new organizations.  In this way more formalized business entities that are seeking to branch out into other businesses or industries can do so without forming new corporations or LLCs.  This can save money (in the form of filing fees) and time (in the form of filing documents and maintaining the business entity throughout the year).  For example, let’s say Mario decided to form Mario’s Tasty Treats, LLC and started a doughnut shop. Now he wants to start a sandwich shop too.  Instead of starting a separate company for the sandwich shop, he can just file a DBA for Mario’s Tasty Treats, LLC doing business as “The Perfect Sandwich.”

            Setting up a DBA is going to be crucial for banking purposes.  Operating under a business name without setting up a DBA will make it impossible to issue and receive checks under the business name.  For one thing, a business owner cannot use their personal account and issue checks or receive checks under their business name.  The second issue with this is that a business owner will be unable to open an account under his business name without first having a DBA.  Business owners should plan ahead for these banking issues by getting their DBA filed prior to trying to set-up bank accounts.

            Forming a business entity such as a corporation or LLC, along with a DBA provides excellent benefits for a business owner.  It allows an owner to have liability protection for their personal assets, arrange taxation of their business in a way that is most beneficial for them, and still permits them to use various names for their business endeavors.  MyCorporation can help simplify the process of filing the documents for setting up corporations, LLCs, and DBAs.  Call us today and let us help get your business started.

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