10 Steps On How To Start A Profitable Business In Pennsylvania

With a sprawling diverse economy, Pennsylvania has a very segmented business environment comprising of different businesses across sectors. If it were an independent country, Pennsylvania would rank as the 19th-largest economy in the world. With a world-class business climate and friendly economic laws, there’s huge scope for new and growing businesses.

The business-friendly policies and laws have helped small businesses survive strongly in the market. Steel, agriculture and financial services remain a major contributor to the state’s economy. The internet has helped people to start businesses easily. If you wish to start a business from home in Pennsylvania, here’s a complete guide on how you can start a successful business in the state.

Top Business Ideas For Pennsylvania | Business Opportunities In Pennsylvania

Freelance Writing Services

Writing can be a great way to make good money. With a little experience, you can work for paid assignments and contracts. First-time freelancers can build up their writing portfolio with Fiverr or Upwork. Your tasks will range from blog posts, PRs, social media posts and more.

Mushroom Farming

Pennsylvania is the largest producer of mushrooms in the United States. There’s a huge demand for the state’s mushrooms outside Pennsylvania and other countries. You can opt to produce and export the mushrooms outside the state.

E-commerce Business

You start your online business by re-selling some product on Amazon or eBay. You can make money by selling what you want to. It’s better to find some product at a cheaper rate in the wholesale market and sell them online.

Property Manager

There are several owners around Pennsylvania who often need property management services. You can start to offer such services as a property manager making a decent amount of money by charging your clients on a per month basis.

Virtual Assistant

Companies often look for virtual assistants who can carry out tasks from home. All you need is a good internet connection, laptop and sometimes a phone to make calls. You will have fixed working hours while you don’t even have to leave your bedroom.

Travel Consultant

Are you someone who loves to travel, or has already traveled a lot? Well, there are people who need assistance on their trips. You can help people online via sites like Lonely Planet or even can start your own website covering travel guides.

Online Coaching

If you have any skill, you can teach other people to do it and get paid. If you know how to edit photos, or play the guitar or do Vedic maths, you can start to offer online coaching. You can either charge your students on per class basis or for membership.

Babysitting

Pennsylvania has a huge demand for babysitting services. All you need is a license to start with and with short work experience, you can charge parents on per hour basis. You can also make pretty good side money with babysitting.

Interior Design Consultant

If you have some interior designing skills, put that to use. Even if you don’t, complete a small course online to get certified. You can start as a freelancer to help people remodel their places. You can charge for your advice, or even offer services as a package.

Landing Page Specialist

There are different business sites who need specialized SEO services. They need keyword-friendly and beautifully designed sites which come with SEO-optimized landing pages. If you don’t know about SEO, complete a small course online to get certified from Coursera or Udemy.

Social Media Manager

Companies now use different social media mediums to promote their service offerings. Twitter Ads, Facebook Ad campaigns or hosting online sales bring in more business for organizations.

Presentation Consultant

Companies and even individuals often need PowerPoint presentations for different meetings. If you are good with visual layouts, you start to offer presentations for work meetings, investor pitches, and lectures. You can show your skills on 24Slides with slideshow presentations.

Here is a Stepwise Guide on Starting a Business In Pennsylvania

If you want to legally start a business in Pennsylvania, follow the given steps:

Step 1. Choose a Business – Top Business Ideas with Low Money

Choose any of the business idea from some of the top business opportunities you can start mentioned above.

Step 2. Business Plan

A good business plan will help your business to perform under different conditions. Once you decide an idea, start working on it and prepare a business plan. It will help you to strategize your business properly by setting up the benchmarks, targets and the goals you wish to achieve.

Step 3. Financing Your Business In Pennsylvania

Businesses from home need a very minimal investment. If you plan to start it on a large scale, start with pitching it to venture capital firms and investors. You can even choose to fund your own business. Go through some of these top business loans available at attractive payback rates.

Step 4. Naming Your Business

You need a name to register your business. Try something unique, but should be easy to pronounce. You can use a business name generator for some suggestions. Now register your business name with the US Trademark department get an online domain. Check this article to learn more about naming a business.

Step 5. Registering A Business In Pennsylvania

Next up, you need to choose a business structure. You have to register your business to be legally operational in Pennsylvania. You can choose between a sole proprietorship, corporation, partnership, and LLC. If you choose to register as an LLC, you can enjoy added legal benefits and tax reductions.

Step 5. Business Licences Needed In Pennsylvania

Pennsylvania has different city-specific and business-oriented licenses mandatory for businesses. Check with your local authorities to ensure the legal formalities. Small businesses need to apply for a license as a sole proprietor with the Pennsylvania Secretary of State’s office.

Step 6. EIN Number & Tax Filing

You now have to apply for a Federal EIN at the IRS. It acts as a social security number for your business helping you to file for taxes separately. The Federal EIN also allows you to hire an employee legally in the United States.

Step 7. Register With Pennsylvania Department Of Taxation

To make your business eligible for taxation, you need to register yours with Pennsylvania Department of Taxation. The licenses may vary, but generally, to sell tangible items, you may require a sales tax permit. While to sell services, you may need a consumer’s tax permit.

Step 8. Setting Up Business Bank Account & Accounting System

With the EIN, you can apply for a business bank account. A separate account will help you to simplify all your business transactions to be at one place. Now you need to set up your accounting system. Go for a reliable set accounting software to keep all your financials at one place making it easy to be annually taxed.

Step 9. Business Insurance You Need In Pennsylvania

It varies from state to state, but you should have a workers compensation insurance in case you have employees. Pennsylvania has no such mandatory insurance requirements, but if you opt to sell service, buy professional liability insurance.

Step 10. Promoting Your Business

To start with, promote your new business via different social media channels. It will help you to reach out to a potential crowd for free. If your business has local competitors, it’s better to promote in a planned way. Hire an agency to take care of your promotes while you can focus on your business.

Best Places To Start A Business In Pennsylvania

Choosing the right location is going to determine how your business runs. Here are some of the best places in Pennsylvania to start your business:

  • Philadelphia
  • Pittsburg
  • Allentown
  • Scranton
  • Bethlehem
  • Erie
  • Williamsport

It’s easy to start a successful business in Pennsylvania with these simple steps. The investment is minimal and with a good business plan, you can easily start making money within a short span of time.