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August 6, 2012

Sole Proprietorships (Part 4) – DBA Statements

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Sole Proprietorships (Part 4) – DBA Statements 

This article is the 4th editorial of a series that Amanda and I will compose in an effort to identify, explain, and/or answer concerns regarding DBA Statements.

Our next editorial will discuss Business Licensing; Occupancy Permits; and Certificates of Ownership.

Of course, we would encourage all questions, insights, thoughts, and commentary as appropriate.

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The purpose and goal of this editorial is to discuss and explain:

  • What is a DBA?
  • What is a DBA Statement?
  • Requirements and Protocols for Filing and Registering a DBA Statement
  • Benefits of Having a DBA Statement

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What is a DBA

  • DBA (Doing Business As) is an assumed name an individual uses for a business instead of the actual business name or one’s personal name (ref: Dictionary of Business Terms, 2000).

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What is a DBA Statement?

  • The DBA Statement is a document that provides the general public with an opportunity to make themselves aware of new businesses in the area(s) and, who the owners of those new businesses are.

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Requirements and Protocols for Filing a DBA Statement

  • Inquire with your county clerk; the city where you will obtain your business license; and/or your Secretary of State to find out where you need to file the DBA Statement;
  • Generally speaking, some states (such as Illinois) require the DBA Statement to be published once a week, in a newspaper that posts legal notices, for a duration of (4) consecutive weeks;
  • Once the DBA Statement has been published in a newspaper (usually for several consecutive weeks) you will need to submit proof of this statement ad to the county clerk or other filing agency;
  • A helpful link to review your state requirements can be located at (courtesy of the U.S. Small Business Administration) http://www.sba.gov/content/register-your-fictitious-or-doing-business-dba-name

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Benefits of Having a DBA Statement

  • Most banks disallow a business owner from opening a business banking account until they have seen proof that the DBA Statement has been filed with the county and/or state;
  • Some financial institutions have restrictions about not accepting (or cashing) business checks using a personal account.

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Again, these are just some major talking points, and we are always welcome to comments and suggestions.

As always, we wish to thank the individuals who read this and we are hopeful you were able to gain a little more knowledge and insight.

Originally posted https://www.facebook.com/soleproprietors – archived here as a resource for entrepreneurs.



About the Author

JoeSoltis
Joe Soltis is the Owner of Soltis Consulting - a full service business and computer consulting firm specializing in assisting the small business target market in developing streamlined business operations using systematic processes and automated system implementation. With over 25 years of business experience on both the corporate and private sectors, Joe and his firm will help with overseeing the day-to-day operations of their clients' businesses as well as the integration of internal components of the business as well as focusing on the techniques and tools needed to develop new business.




 
 

 
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Sole Proprietorships (Part 2) – Deciding on a Business Name

Sole Proprietorships (Part 2A) – Deciding on a Business Name This article is the 2nd editorial of a series that Amanda and I will compose in an effort to identify, explain, and/or answer concerns regarding Sole Proprietorship...
by JoeSoltis

 




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