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Statistic: Smart Steps to Become a Successful Sole Proprietor – Which One Do You Think Matters Most?

Create a Simple Business Plan

Outline your goals, target audience, and how you’ll earn income and grow.

35.00%

Choose Your Business Idea

Start with a clear, viable idea that solves a problem or meets a need.

14.07%

Promote Your Business Online

Build a digital presence through social media, websites, and local listings.

11.30%

Open a Business Bank Account

Keep personal and business finances separate to simplify taxes and tracking.

9.63%

Track Income and Expenses

Use software or spreadsheets to monitor cash flow and stay tax-ready.

7.78%

Pick a unique name and register it to operate legally and professionally.

7.59%

Get a Business License

Depending on your location and industry, you may need permits or licenses to operate.

7.59%

Pay Self-Employment Taxes

As a sole proprietor, you're responsible for your own tax contributions—plan ahead!

7.04%

Pick a unique name and register it to operate legally and professionally.

Your choose

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