Start Your Business

I. Planning

Create a Business Plan

Before starting a business, you may wish to have a comprehensive business plan to enhance opportunity for success. A business plan is a roadmap of your business’ future. Generally, this document lays out the next 3-5 years of success, and how you intend to achieve it. A proper business plan should describe your business goals, the strategies involved, potential problems coupled with solutions for each, organizational structuring of your business and budget forecasting.

Small Business Development Center
Janet Graham, Area Manager
Coastal Carolina University
P.O. Box 261954
Conway, SC 29526
(843) 349-4010
www.coastal.edu/sbdc/
SCORE
Grand Strand – Chapter 381
605 10th Ave. North
P.O. Box 2468
Myrtle Beach, SC 29578
(843) 918-1079
https://grandstrand.score.org

II. Starting the business

Determine Legal Structure

One of the most important decisions you make when starting a new business in Conway SC is choosing a legal structure. Each type of business has its pros and cons. It is generally a best practice to study each in detail and compare against your business priorities. For example: How risk averse are you and your partners? How would you prefer your business be taxed? Get familiar with the requirements for starting a small business.

How to Choose the Best Business Entity

Incorporating

You may wish to organize your business as a sole proprietorship, partnership, LLC or corporation. Documents and filing instructions can be found at:

Secretary of State
Division of Corporations
1205 Pendleton Street, Suite 525
Columbia, SC 29201
(843) 734-2158
www.scsos.com

III. Taxes

Obtain an EIN Number

An EIN, commonly known as a Tax ID, stands for Employer Identification Number and acts as the unique identifying number for a business similar to how a Social Security Number is used as a unique ID number for an individual. The IRS uses EINs to identify businesses for tax purposes. When speaking about how to start a business in Conway SC, you should be aware that you’re going to need a Tax ID (EIN) in order to perform many actions, such as opening a small business bank account, hiring employees, etc.

Apply online for an EIN Number: IRS EIN Application.

Register for State Taxes and your State Tax ID

A State Tax ID is different from the Federal Tax ID. This is a unique number assigned to a business or organization by the state where the business operated. It is primarily used for paying state taxes and hiring employees.

How to Get a State Tax ID Number for a Small Business
Determine Your State Tax Obligations

Business Tax Guide for South Carolina
S. C. Dept. of Revenue
1350 Farrow Parkway
Suite 200
Myrtle Beach, SC 29577
(843) 839-2960
(800) 829-1040
https://dor.sc.gov
Small Business Tax Kit
Internal Revenue Service
1835 Assembly Street
Columbia, SC 29201
(800) 829-1040
(803) 765-5544
https://www.irs.gov

State Sales Tax

There is a South Carolina sales tax. Before you can open a retail business, you must register with the License & Registration Division of the S.C. Department of Revenue and receive a tax number.

SC Dept. of Revenue
Myrtle Beach Office
1350 Farrow Parkway
Suite 200
Myrtle Beach, SC 29577
(843) 839-2960
https://dor.sc.gov

Withholding Taxes for Employees

Contact the following for more information:

Federal Income Tax
Internal Revenue Service
1835 Assembly Street
Columbia, SC 29201
(803) 765-5543
(800) 829-4933
www.irs.gov
State Income Tax
SC Department of Revenue
300A Outlet Pointe Blvd
Columbia, SC 29210
(844) 898-8542
(803) 898-5000
https://dor.sc.gov
Medicare Tax
Internal Revenue Service
1835 Assembly Street
Columbia, SC 29201
(800) 829-4933
www.irs.gov
SC Employer Withholding Tax
SC Department of Revenue
License & Registration Unit
300A Outlet Pointe Blvd
Columbia, SC 29210
(844) 898-8542
(803) 898-5000

Unemployment Taxes

As an employer, you may be required to pay unemployment taxes

Federal Unemployment Tax (F.U.T.A.)
Internal Revenue Service
1835 Assembly Street
Columbia, SC 29201
(800) 829-3676
www.irs.gov
State Unemployment Tax
SC Employment Security Commission
1550 Gadsden Street
P.O. Box 995
Columbia, SC 29202
(803) 737-3080
https://www.dew.sc.gov

Property Taxes

If your business owns real property, contact the tax assessor’s office to find out about property taxes.

Horry County
1301 Second Avenue
Conway, SC 29526
(843) 915-5040
Horry County Assessor's Office

Other Taxes

You may also be liable for other taxes such as the Federal Excise Tax or the State Franchise Tax. For more information, contact:

Internal Revenue Service
(800) 829-3676
S.C. Department of Revenue
(803) 898-5636

IV. Licenses and Permits

Apply for Local Business Licenses and Permits

There are a variety of local permits and licenses which may be mandatory to your business. Whether it’s a tax registration from your local Office of Finance or a required permit for the sale of alcohol, you are likely required to show proof of your EIN Number to complete these applications.

State
SC Department of Revenue
License & Registration Unit
300A Outlet Pointe Blvd
Columbia, SC 29210
(844) 898-8542
(803) 898-5000
SC Department of Revenue
County
Horry County Treasurer’s Office
1301 Second Avenue
Conway, SC 29526
(843) 915-5470
Horry County Treasurer
City
City of Conway
Business License Coordinator
1000 Second Avenue
Conway, SC 29526
(843) 488-7631
Conway Business Licensing

Health Permits

If you plan to process hand, cook, store or distribute food as part of your business, contact the Health Department about special permits:

DHEC, Conway Office
1931 Industrial Park Road
Conway, SC 29526
(843) 915-8801
SC Department of Health

Liquor License

If you plan to sell or serve alcoholic beverages, contact the following about special permits:

SC Department of Revenue
Myrtle Beach Office
1350 Farrow Parkway
Suite 200
Myrtle Beach, SC 29577
(844) 898-8542
https://dor.sc.gov
Federal Bureau of Alcohol, Tobacco & Firearms
Strom Thurmond Federal Bldg
1835 Assembly Street, Room 309
Columbia, SC 29201
(803) 251-4600
https://www.atf.gov
Federal Bureau of Alcohol, Tobacco & Firearms
Florence Satellite Office
401 West Evans Street, Room 208
Florence, SC 29501
(843) 292-0179
https://www.atf.gov

OTHER LICENSES – Contact the following to find out more about:

 

Day Care Licensing Laws
State Department of Social Services
Division of Child Day Care Licensing & Regulatory Services
1535 Confederate Avenue Extension, Room 5200
P.O. Box 1520
Columbia, SC 29202-1520
(803) 898-7601

https://dss.sc.gov

 

Drug Regulations
Bureau of Drug Control

Dept. of Health & Environmental Control
2600 Bull Street
Columbia, SC 29201
(803) 898-3432

http://www.scdhec.gov

 

Elevator Licensing & Amusement Rides
Labor Department
Landmark Center, 110 Centerview Drive
P.O. Box 11329
Columbia, SC 29211
(803) 896-7630
FAX: (803) 896-7650

http://www.llr.state.sc.us/elevators/

 

Wetlands Regulations
Dept. of Health & Environmental Control
Ocean & Coastal Resource Management
927 Shine Avenue
Myrtle Beach, SC 29577
(843) 238-4378

http://www.scdhec.gov/HomeAndEnvironment/Water/CoastalManagement/

 

SC Assumed Name Act – If your business is organized as a partnership, which does not use the names of the principals, you must register with the SC Secretary of State after which you may record the paperwork at the Horry County Register of Deeds.

 

Register of Deeds
1301 Second Avenue
Conway, SC 29526
(843) 915-5430

http://www.horrycounty.org/Departments/RegisterofDeeds.aspx

 

To learn more about other licenses or permits your business may require, contact:
Department of Consumer Affairs
P.O. Box 5757
2221 Devine Street, 2nd Floor
Columbia, SC 29250
(843) 734-4200

http://www.consumer.sc.gov/Pages/default.aspx

 

BUILDING INSPECTION, BUILDING PERMITS AND ZONING INFORMATION

If you are constructing or altering a building, it must be inspected. Also, you will need to be certain that your business is in an appropriately zoned location. For more information, contact the following:

 

Horry County Planning & Zoning
1301 Second Avenue
Conway, SC 29526
(843) 915-5340

http://www.horrycounty.org/Departments/PlanningAndZoning.aspx

 

Signage

 

 

V. Open a Business Bank Account

 

Having a bank account is essential to starting a new business. This monumental step in your path to success is typically very straight forward but there are common road blocks in the banking process. When opening your business bank account in Conway SC don’t get stuck at the bank searching for required documents - bring your state’s Incorporation documents, your EIN (Tax ID) Number and all partners who’s names you wish to include on the bank account must be present as well.

 

Resource: Business Bank Account Checklist: Documents You'll Need

 

VI. Set Up Accounting

 

Most business owners understand they have to file taxes from the get-go. Why wait until the end of the year to handle one of the most important pieces of your business? Avoid unnecessary costs for late payments, late filings and other fees from the IRS. Handle or hire an accountant to handle your tax responsibilities early and don’t get stuck scrambling at the year’s end. An accountant will help you understand which items you need to provide in order to file on time, such as your Profits & Loss Statement, your business’ EIN Number and other required information.

 

Resource: Small Business Accounting Checklist

 

VII. Obtain Insurance

 

Many industries will require various types of insurance for specific actions to take place. For example: truck drivers need mandatory auto insurance in order to make deliveries on the company’s behalf. Now that you are starting a new business, it is in your best interest to get informed about your insurance options and be familiar with the regulations that apply to your specific type of business.

 

Resource: 5 Buying Tips for Small Business Liability Insurance

 

VIII. Hire Employees


Hiring your first employee is a milestone for any business, essentially opening the door to more profits and frees up time for owners to focus on high-level priorities. But before the interview process begins, make sure you have everything you need in order to legally hire an employee. You’ll need to obtain an EIN Number and supply your new employee with the appropriate paperwork from the IRS.


Resource: 
Guide on Hiring Employees and Requirements


SC WORKS -
 An equal opportunity employer/program

www.scworks.org

SC Department of Employment and Workforce

www.dew.sc.gov


Employer/Employee Relations

 

Worker’s Compensation Fund – If you have four or more employees, you must carry worker’s compensation insurance. For more information, contact:

 

SC Workers Compensation Commission
1333 Main Street, #500
Columbia, SC 29201
P.O. Box 1715
Columbia, SC 29202-1715
(803) 737-5700

http://www.wcc.sc.gov/Pages/default.aspx

 

Minimum Wages, Maximum Hours – You are required to adhere to the regulations of the Fair Labor Standard Act; even if you are exempt from federal law, you may still be subject to state law.

 

Federal:
US Department of Labor
Employment Standards Division
1835 Assembly Street, Room 1072
Columbia, SC 29201
(803) 765-5981

https://www.dol.gov/whd/

 

State:
SC Department of Labor
Employment Standards Division
110 Centerview Drive
P.O. Box 11329
Columbia, SC 29211-1329
(803) 896-7756

http://www.llr.sc.gov

 

Discrimination & Harassment
SC Department of Human Affairs
P.O. Box 4490
Columbia, SC 29240
(800) 521-0725

http://www.schac.sc.gov/Pages/default.aspx

 

IX. FIRE INSPECTION

 

Horry County
M.L. Brown Public Safety Building
2560 Main Street
Conway, SC 29526
(843) 915-5190

http://www.horrycounty.org/Departments/Fire-Rescue.aspx

 

City of Conway
PO Box 1075
Conway, SC 29528
(843) 248-1720

http://www.cityofconway.com/departments/fire/index.php

 

X. POSTAL INFORMATION

 

Conway Post Office
2570 North Main Street
Conway, SC 29526
(843) 248-6313

 

 

XI. ADDITIONAL INFORMATION

 

Notary Public Commission
Secretary of State
1205 Pendleton Street, Suite 525
P.O. Box 11350
Columbia, SC 29201
(803) 734-2170

http://www.scsos.com

 

Notary Public Applications
Horry County Legislative Delegation
Historic Horry County Courthouse
1201 Third Avenue
Conway, SC 29526
(843) 915-5130

 

U.S. Copyright Office
Library of Congress
James Madison Building
101 Independence Avenue, S.E.
Washington, DC 20559
(202) 707-3000

https://www.copyright.gov

 

Horry County Area Statistical Abstract
Myrtle Beach Regional Economic Development
2050 Highway 510 East, Building 900
Conway, SC 29526
(843) 347-4604

http://www.mbredc.org

 

XII. NEW BUSINESS RESOURCES

 

Myrtle Beach Regional Economic Development
2050 Highway 501 East, Building 900
P.O. Box 261966
Conway, SC 29526
(843) 347-4604

http://www.mbredc.org

 

SCORE
Grand Strand – Chapter 381
605 10th Ave. North
P.O. Box 2468
Myrtle Beach, SC 29578
(843) 918-1079
www.mbscore.org

info@mbscore.org

 

Small Business Development Center
Janet Graham, Area Manager
Coastal Carolina University
P.O. Box 261954
Conway, SC 29526
(843) 349-4010

FAX: (843) 913-7888

https://www.coastal.edu/sbdc/

 

XII. Educational Institutions

 

Horry-Georgetown Technical College
2050 Hwy. 501 East
Conway, SC 29526
PO Box 261966
Conway, SC 29528-6066
www.hgtc.edu

(843) 347-3186

 

Miller-Motte Technical College
2451 Hwy. 501 East
Conway, SC 29526
PO Box 261966
Conway, SC 29526
www.miller-motte.edu

(843) 591-1100

 

Coastal Carolina University
755 Hwy. 544
Conway, SC 29526
PO Box 261954
Conway, SC 29528
www.coastal.edu

 

Horry County Schools
Administrative Office
335 Four Mile Road
PO Box 260005
Conway, SC 29528
www.horrycountyschools.net

(843) 488-6700