New Business Formation


Thinking of opening your own business?

Opening your own business is exciting and thrilling. It’s everything that comes after the excitement and thrill has worn off that dictates whether a small business will make it or not.

Welcome to Lodestar, where we specialize in turning entrepreneurial dreams into thriving businesses through our New Business Formation services. Launching a new venture is a significant milestone, and we're here to ensure that your journey is not only exciting but also strategically planned for long-term success.

Our Approach to New Business Formation


Crafting Your
Blueprint for Success

At Lodestar, we understand that a successful business starts with a solid plan. Our experts work closely with you to craft an initial business plan that encompasses your marketing, management, and financial strategies.



Determining your start-up capital needs is a crucial step in building a resilient business. Lodestar collaborates with you to identify potential funding sources, evaluate your borrowing power, and establish backup options.


Business Structure

Choosing the right business structure is pivotal for long-term success. Our team evaluates tax advantages, legal exposure, and operational ease to guide you in selecting a structure that aligns seamlessly with your business goals and future plans.


for Efficiency

Efficient operations begin with the right tools. Lodestar assists you in selecting the optimal accounting software based on your budget, needs, and hardware specifications.


Navigating Your
Financial Roadmap

A well-prepared Cash Flow Budget is your compass in the early years of your business. Lodestar helps you develop a comprehensive budget, providing insights into your monthly financial requirements and helping you make informed decisions for the sustainability of your business.



We understand the importance of a well-organized administrative setup. From establishing billing and collection procedures to setting up a tax-efficient home office, Lodestar ensures that your administrative processes are designed for maximum efficiency and profitability.


Peace of Mind

Navigating licenses, obtaining a Federal Employer Identification Number (FEIN), and compliance with employment laws can be complex. Lodestar takes care of these essential tasks, providing you with peace of mind and allowing you to focus on growing your business.


A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful business. Success lies in the approach you choose to take. We help you avoid the common pitfalls that many new small business owners make when starting their new venture.


  • Prepare an initial business plan to clarify your marketing, management, and financial plans.

  • Determine your start-up capital needs.

  • Identify sources of start-up capital and backup sources if needed.

  • Evaluate and quantify your borrowing power so you know how much money your business may qualify for and can get your hands on if needed.

  • Select a business structure that best fits your needs by evaluating: tax advantages, legal exposure, ease of operation and portability should you need to relocate.

  • Select the right accounting software by evaluating your budget, needs and hardware.

  • Prepare a Cash Flow Budget so you know exactly how much money you need to keep the business alive each month for the first few years.

  • Unplanned cash requirements are always emotionally painful.

  • Establish billing and collection procedures to maximize your cash flow.

  • Establish procedures to monitor and control costs.

  • Setup a home office so you can maximize your tax deductions.

  • Prepare and file all required state and local licenses and permits.

  • Prepare and file your application for your Federal Employer Identification Number.

  • Provide payroll and payroll tax filing when you bring on your first employee.

  • Comply with employment laws so you don’t get hit with fines and unhappy employees.

  • Identify your business insurance needs.

  • Develop a solid Partnership Agreement with the help of our trusted Attorneys. This is an extremely important document for all new partnerships and will help prevent a tremendous amount of financial and emotional problems down the road.

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