Download Resources for Starting a Business

After being approved for membership with StEP, the student business must become official by fulfilling all of the requirements of a business in the St. Louis/Clayton area, the state of Missouri, and the United States of America. This process includes locating suppliers, establishing a bank account, legally becoming recognized as a business, registering for local, state, and federal taxes, and as appropriate, setting up a store on the South 40.
 

Locate Suppliers
The choice of suppliers is one of the most important decisions a business owner will make. The following resources are helpful in identifying suppliers in the St. Louis area:

Establishing a Bank Account
A business bank account in the name of all of the owners must be established.

Legal Choices and Government regulation
Student businesses are typically established as a Limited Liability Company (LLC). An LLC is not a partnership or a corporation, but combines some of the advantages of both. Additional legal and regulatory issues to consider include:

    A. Articles of Organization
    B. Naming the company
    C. Occupational licenses
    D. Local Business License
    E. Federal Employer Identification Number
    F. State Sales Tax Number
    G. Operating Agreement

Taxes
There are two types of taxes that the business must pay, sales tax and income taxes.

    A. Sales Tax
    B. Income Tax

Location, Costs and More

    A. Gregg Hall Storefront Rent
    B. Parking
    C. Furniture
    D. Store Hours
    E. Store Phone
    F. Internet
    G. Mailbox
    H. Website
    I. Business cards