How to Start a Construction Company In New Jersey
There are some important steps to take to start a construction business in the state of New Jersey. A construction company could include building, excavation, home improvements, carpentry or any other type of commercial or residential work. You may want to start here: How To Start A Construction Company. You must do your own thorough research, as laws change regularly. Here are some steps you may have to take (not necessarily in order) to register your construction company, along with links to more information.
Here is a website that will help if you want to start a business in New Jersey: New Jersey Business Portal
-Register your business name.
Find out more about registering a fictitious name for your construction company here: Naming Your Business
If you need help selecting a name for your construction business: Choosing a Construction Company Name
-Select your business structure.
Sole-proprietor, LLC, Partnership, Corporation, etc. Find out more here: New Jersey Business Structure
-Register your business.
You can register your construction company with the state of New Jersey here: New Jersey Business Registration
-Open a Business Checking Account.
You will need to open a separate bank account for your contracting business with your new business name.
-Find out about taxes, hire an accountant.
You may want to file your own taxes if you are a small company. As you grow, it will be easier to have an accountant do the work. More information about taxes here:
-Get Construction Software
Construction software will streamline your business before you even start, giving you visibility and control over all your leads, sales, jobs, and tasks from a single program to get your company on the fast track toward growth.
You’ll also be able to create estimates, place material orders, automate the boring (but necessary) stuff, empowering you and your team to finish jobs on time and on budget. Try JobNimbus for Free!
-Get Liability Insurance
We work with ContractorsLiability.com because they’re the one-stop-shop for General Liability insurance and are able to get online quotes in all 50 states. Plus, their expertise means they’re fast when it comes to getting the right bond and liability coverage. Contractors need to win the job and stay protected at an affordable price. Learn more >
More about liability insurance here: Contractor Liability Insurance
-Worker’s Compensation.
You will need Worker’s Compensation if you have any employees. Find out more>
-Register as a Contractor with the State of New Jersey.
Find out more here: New Jersey Division of Consumer Affairs
-Get Health Insurance.
Since you will be self-employed, you will need your own health insurance. If you have employees, you will need a plan that will include their health needs also.
-City License.
You may be required to obtain a license to operate a construction company in a particular locale, whether you are a resident, or not.
-Permits.
Depending on the locale, you may need to apply for permits before commencing certain types of contracting jobs.
-Building Code and Inspections.
You must be aware of building codes for your particular job, and may be subject to inspections.
-OSHA.
Depending on how many employees you have, you may need to follow OSHA regulations.
-Financing.
Depending on your startup budget, you may need to apply for financing to help pay for equipment.