Easy Guide to Set Up Your Business Info

Business Name

Selecting the right business name for you and your product(s) & service(s) is super important because it is one of the first ways others identify and recognize your brand. When selecting a name, be unique but don’t stress yourself out trying to create it. If you want to obtain business credit, refer to the info below

Structuring Your Business (for Business Credit)

Use broad/general terms for the name
Don't be too specific to only one Industry

Ex: Wrong - Anne's Cake Bakery, Tasha's Braiding, etc.
Ex: Right - "McDonalds" vs "McDonalds: Burgers and Fries"

Keep your name abstract and catchy

Note: If you're having trouble...

Set up an account with Chat GPT or Google Gemini to help you brainstorm. These AI tools are amazing at giving you ideas. Using the chat feature, tell it to cater to whatever you want.
You can copy, paste, and use any of these AI prompts:

"I own a business that serves [describe your customer] by [describe what you do or sell]. Give me 20 ideas for great, abstract but catchy names that aren't too specific to one industry."
"Suggest a business name that rhymes with [Word]."
"Give me a list of powerful, one-word business names related to [theme]"
"Create a business name using the initials [Initials]"
"Create a business name that is both creative and sounds professional when spoken aloud"

You can also use this: "[Insert Name] Consulting, [Insert Name] Solutions, or [Insert Name] Enterprises"

Ex: XYZ Consulting, ABC Financial Group, CEO Consulting Firm, etc.

Tip: In most states, you can add a DBA or "Doing Business As" name on top of that LLC.

Ex: "ABC Enterprises LLC" has a DBA on top that is "ABC Car Rentals"

Warning

Be careful of high-risk Industries and using high-risk industry descriptions in your business name. It will limit your financing options in the future if you are trying to get credit and loans from banks. This relates to your business name as well as your NAICS Code, which classifies your business.

Ex: If you have a credit repair business try not to use “credit” in your business name. Banks are not in favor of credit repair companies.
Ex: Think of "Apple, Google, Microsoft". These are all general names

High-Risk Industries

(These are subject to stricter underwriting guidelines for business funding):

Agriculture or forest products
Auto, recreational vehicle or boat sales
Computer and software related services
Construction & General contractors
Cryptocurrency / Virtual currency
Drug Stores and Pharmacies
Dry cleaners
Entertainment (adult entertainment is to be considered restricted)
Gambling & Betting / iGaming
Gasoline stations or convenience stores (also known as c-stores)
Healthcare; specifically nursing homes, assisted living facilities, and continuing care retirement centers
Hotels or motels
Jewelry, precious stones and metals; wholesale and retail
Mobile or manufactured home sales
Phone sales and direct selling establishments
Privately Owned ATM
Real estate agents/brokers
Real estate developers or land subdividers
Restaurants & Food Services OR drinking/alcohol establishments
Software or programming companies
Special trade contractors
Transportation

Car Rental Agencies
Commercial Leasing
Courier services
Limousine services
Long distance or “over-the-road” trucking
Taxi cabs (including the purchase of cab medallions)

Travel agencies
Vending Machine Operator

Restricted & Prohibited Industries

(Almost guaranteed automatic decline for business funding):

Energy, oil trading, or petroleum extraction or production
Finance, Loans, and Other Money Services Businesses (MSBs)

Federal Reserve Banks, foreign banks, banks, bank holding companies, Mortgage companies, bankers & brokers, bail bond companies, or mutual fund managers, Loan brokers, commodity brokers, security brokers, Loans for the speculative purchases of securities or goods
Bankruptcy Services
Credit Restoration
Money Services such as: Credit Financing, Check Cashing / Guarantee Agencies, Payday lending, Money Transmission, Wire transfers in-person, Overdue debt repayment, Currency Dealing or Exchange, Gift Cards, Money Orders, Travelers Checks

Firearms, Ammunition, or Weapons Manufacturing; wholesale and retail
Illegal substances
Marijuana-related Businesses & Other controlled substances and paraphernalia (including medicinal marijuana, marijuana, cannabis & CBD, and hemp)
Pawn shops
Political campaigns, candidates, or committees
Public administration (e.g., city, county, state, and federal governmental agencies)
X-rated (Adult) content, products, or entertainment

NAICS Code

Know and document your NAICS/SIC code. This code classifies your business. You're supposed to use the NAICS code for the industry that best represents the main source of revenue for your business. But when choosing your NAICS/SIC code, stay away from HIGH RISK industries as much as possible for banking/funding purposes.
For example: If you have a credit repair business, I do not recommend selecting credit repair. Instead choose Consulting, Marketing, or Education. These are usually safe to lenders and you will likely do one or all three of these things within your business at some point.

Check out this guide. There’s so many industries and subindustries. Make sure you select the CORRECT industry!
Click either of these links below or Google "NAICS code list"

NAICS Manual

Use your own discretion, but I suggest using these NAICS codes to not get flagged:

54161 Management Consulting Services
541611 Administrative Management and General Management Consulting Services
541613 Marketing Consulting Services
541618 Other Management Consulting Services
541890 Other Services Related to Advertising
611430 Professional and Management Development Training
611710 Educational Support Services

Business Email Address and Domain

Your business looks better to both customers and lenders when it is set up properly. You will usually be able to set up your business domain along with your business email.
This is important, imagine someone contacted you from a bank with partydude@yahoo.com as their email address. You wouldn't take them seriously. Instead, you must have a professional email address like these:

support@[yourcompanydomain].com
contact@[yourcompanydomain].com
info@[yourcompanydomain].com

Ex: info@prettyhair.com and NOT prettyhair@yahoo.com

Business Email Address and Domain Options

Service	Link	Price
Google Workspace	Google Workspace Plans	$7-$22/month
Microsoft 365	Microsoft 365 Plans	$8-$22/month
GoDaddy	GoDaddy Professional Email Plans	$5-$6/month

Note: You can usually get your domain and email with the same provider

A professional email address and website go a long way to establishing business credibility which brings us to the next point…

Business Phone Number & 411 Listing

Your business must have its own phone number.

If going for business in the future: It must be a real business or VOIP number, not a mobile or home phone.
Try to secure 1-800 number, if possible (or another toll-free area code like 800, 888, 877, 866, 855, 844, and 833)

Business Phone Number Options

Service	Price
Grasshopper	$19-$32/month
Nextiva	$31-$46/month
RingCentral	$30-$45/month
GoDaddy Conversations	$17/month (7-day free trial)
Kall8	$10 setup fee and $35/month

NO Google Voice phone numbers. Banks pick up on this and it can raise red flags.

Optional: After establishing your business phone number, we recommend you list it under the National 411 Directory, so lenders can verify your business more easily.

It’s important to note here that, cell phone numbers cannot be listed in the National 411 Directory.
The business phone number must be listed with 411 under the exact name of your business

You can go to listyourself.net or other similar services to list your business phone number. Once submitted, it takes about one week for your business phone number to be listed.
Check to see if your phone number has been listed by dialing your area code and 555-1212. If you call from your cell phone, your cell phone company will forward you to their independent 411 service, so you should call the number from your business phone to verify.

Business Address & Registered Agent

If your business does not have a physical location, you will need to obtain a virtual office address. Use of your personal residential address is possible, but not recommended for safety. It's also not recommended if you are looking to build and scale your business and maximize funding opportunities. Many Secretary of State websites list your selected business address as public record. You do not want your customers to know where you live or have the ability to search for your personal residence.

If you will want business funding

This address must be:

A real brick-and-mortar building
Have a deliverable physical address

And do NOT use:

A home address
A P.O. box
A UPS or USPS box

Why?
Banks use USPS tools to verify business locations. They see these as higher risk in comparison to physical addresses
You can use a P.O. Box or UPS address as an additional mailing address, but any documents and filings also should have a deliverable physical address.

If you don’t have a property or building you own/lease don’t worry.

One budget friendly solution is securing a virtual office. Virtual offices can give your business a professional presence with a physical address, business phone number, meeting spaces, and other amenities without the high overhead costs of owning/renting a brick-and-mortar office.

Tip: Opt-in for electronic statements & opt-out of marketing to reduce junk mail

Virtual Offices Options

Service	Price
Regus	Starts at $65/month
Opus Virtual Offices	Starts at $99/month (& reports to business credit report)
Alliance Virtual Offices	Starts at $49/month
DaVinci	Starts at $50/month

Difference between a Registered Agent Address, Virtual Mailbox, Virtual Office, and Office Space

What's the difference between registered agent address and virtual address? Can I just use registered agent address as business address?

Think of it this way:

Registered Agent Address: The bare minimum legal requirement, like having a PO Box only for important documents
Virtual Address: Like upgrading to a full-fledged location & mailbox with a professional address and added services.

Registered Agent Address

Purpose: Solely for receiving official legal and government documents on behalf of your business (e.g., service of process, tax notices, renewal filings).

Requirements:

Must be a physical address in the state where your business is registered.
The registered agent (person or business) must be available during regular business hours to receive these documents.

Why you shouldn't use it as your business address:

Privacy: Your registered agent's address becomes public record.
Limited Mail Handling: Registered agents are not meant to handle your everyday business mail and might charge fees for additional forwarding.
Professionalism: Using a home address or registered agent's address can appear less professional for some businesses.

For Your Registered Agent

Google: "[Your State] Registered Agent"
I pay $49/year for mine
Or pick a national company like Northwest Registered Agent

Virtual Address

Purpose: Provides a physical business address for receiving both regular mail and packages. Can often be used to create a professional presence in a different location than your actual base of operations.

Features:

Mail forwarding services.
May offer additional services like phone answering, virtual office space, meeting rooms.

Why it's a better option:

Privacy: Maintains separation between your personal address and business address.
Professional Image: Gives the appearance of having a physical office even if you work remotely.
Convenience: Handles all your business mail in one place.

Can I use my registered agent as my business address?

While technically some registered agents may offer mail forwarding as an additional service, it's generally NOT recommended for the following reasons:

Cost: You'll likely pay additional fees beyond your registered agent service.
Inconvenience: You may have limited access to retrieve your mail or it might be handled less efficiently than a dedicated virtual address service.
Restrictions: Certain state or government agencies may not accept your registered agent's address for specific filings or business correspondence.

Companies to Avoid for Your Business Address

With some companies, if you use their addresses for your business, lenders may flag you. I cannot recommend iPostal1 or Anytime Mailbox. These companies are not exclusively for businesses (as they allow personal mailboxes as well). Sometimes when you pull them up on Google Maps, they can show mailbox locations, UPS stores, etc. If you are trying to go for the lowest cost option and select one of these at the start, you may have trouble getting approved for certain lending products (especially if the product is no personal guarantee).

When speaking with bankers and lenders, you don't want to say "virtual mailbox". Call it a "corporate address", "corporate location", or simply your "business address".
Why?
Some lenders will respond with "we can't use a virtual mailbox, it needs to be an actual physical address". So before you purchase an address, Google it.

When you Google the address, check:

Does this look like a corporate building on Google Maps? You want it to.
Does "virtual" or "virtual address" or the name of the virtual office company pop up in Google Search results? You don't want this.

If it does: Try searching without the suite or mailbox number. You don't have to add this when filling out information for the Secretary of State, IRS, or with lenders.
If you Google Search and it still shows "virtual", "virtual address", or the name of the virtual office company, you may want to find another address.

How do I correct my business address?

When you change your business address you must also update it on your governing documents and with other agencies and parties.

The four big places to notify about your new business address are:

The U.S. Post Office (USPS)
The Internal Revenue Service (IRS)
Your state taxing agencies
Any other relevant licensing agencies

The U.S. Post Office (USPS)
The post office makes it very easy to change your address. Just go online to USPS.com/move and follow the prompts to fill in your old information and new business address.

The Internal Revenue Service (IRS)
Go to the IRS.gov website to search and find Form 8822-B. You’ll use this form to change your registered business mailing address, business location, or the identity of your responsible party. The form is fairly straightforward and takes care of updating your Employer Identification Number (EIN) information.
Once you’ve downloaded and filled out the form, you’ll need to mail the original physical copy to the IRS. Unlike Form SS-4, which you used to obtain your EIN, the IRS doesn’t permit online submissions of Form 8822-B. Make sure to keep a copy of the completed document for your records.

Your state taxing agencies
Each state is different, so you’ll need to check with your state’s tax collector’s office to determine the notification requirements. You’ll need to notify all states in which your company does business.
Some states, like Texas and Florida, make it very easy to change your address. Just go online and enter your information on the amendment form, and there’s no fee attached. Other states, like Pennsylvania, have a minimal ($5) processing fee to change your registered office mailing address.

Any other relevant licensing agencies
Depending on the state in which your LLC is located and your industry, you most likely have to notify those entities of your correct address. You’ll want to update these agencies so you continue to receive important certifications and license renewal information at the correct LLC address. You also might need to cancel local or state licenses from your old location.

Others Places to Update Address

Registered Agent
If your registered agent is a separate entity, i.e., not an employee or member of your LLC, you won’t need to update your address with the government agencies because the registered office address is that of the registered agent. You will, however, need to notify the agent of your new physical location so any original documents get to you in a timely manner.

Financial institutions, lenders, vendors, and customers
Add banks and vendors whose statements and correspondence you don’t want to miss to the list of entities to notify. If lenders helped your LLC get started, you probably have as a condition that you must inform them of a change of address. All your customers should also be notified of address changes because some may send payments to the old address after your post office forwarding notice ends. Most likely, you’ll be able to notify these parties about your new location through an online portal, a form letter, or an email to your contact list.

Business Website

A proper website is core to any business whether you're selling physical products, services, or digital products (information).
In today's digital era, whether you own brick and mortar business, have a real estate or construction company, or are an artist, not having a website is a handicap. A website is as powerful as you make it. You can display your services, prices, contact information, previous work, reviews, testimonials, events, and more. Again: regardless of the type of business, it is important to have a real presence online

Website Options

Pay a freelancer $100-$150 on Fiverr or Upwork
Pay a professional company or web designer (usually $500+)
Create it yourself

Website Hosting Options & Plans

Note: These plans are based on the monthly prices, not the yearly prices which usually have discounts of around 30% but it's all upfront. You choose whichever is best for you

Platform	Plans	Price	Current Promotions
Wix	Premi u m Light - Premium Business Elite	$24/month - $159/month	14 Day Money Back Guarantee - "Try Wix Premium plans for 14 days and if you're not 100% satisfied, get your money back."
Shopify	Basic - Advanced	$39/month - $399/month	$1/month for first 3 months - "Start for free, then enjoy $1/month for 3 months"
Squarespace	Personal - Commerce	$23/month - $65/month	Free for 14 days
GoDaddy	Basic - Commerce	$13/month - $27/month	One-Month Free Trial - "Try Website Builder free for one month, no credit card required." 30-Day No-Risk Guarantee - "Already paid? You've got 30 days to change your mind."

Note: If you're a student (or know one), you can get a discount up to 50% off on some website hosting plans

Another Note: Fiverr and Upwork are such hidden gems! Anything you need done for your business can be easily tackled with either one. They have beginners and experts, low cost, fast turnarounds, and you can read reviews to select who you want. Websites, funnels, email marketing, social media branding, flyers, logos, anything you need. Check them out.

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