How to Start a Construction Company In Virginia
There are a number of steps to take to start a construction business in the the state of Virginia. You must do your own thorough research, as laws change regularly. You may want to start here: How To Start A Construction Company. Here are some steps you may have to take (not necessarily in order) to start your own construction company, along with links to more information.
Getting started- The state of Virginia provides resources for getting your business started: Virginia Business One Stop
-Select your business structure.
Sole-proprietor, LLC, Partnership, Corporation, etc. Find out more here: Virginia Business Structure
More on Business Entities: Choosing a Roofing Business Structure
-Register your construction business name.
Find out more about registering a fictitious name here: Virginia Business Names
If you need help selecting a name for your contractor business: Choosing a Construction Company
-Register your business.
You can register your construction company with the state of Virginia here: Virginia Business Registration
-Open a Business Checking Account.
You will need to open a separate bank account for your business with your new construction business name.
-Find out about taxes and hire an accountant.
You may want to file your own taxes if you are a small contractor. As you grow, it will be easier to have an accountant do the work. More info about taxes here:
-Create Your Brand
You may want to choose a logo, company slogan, and other visuals you can use with your marketing materials that will show customers what construction services you offer.
-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.
-Offer Payment Options to CustomersOffering payment options with your bids will help you work with clients that don’t have all the cash up front. Hearth’s software allows you to pre-qualify your customers (without affecting their credit score) directly from a mobile app so that you can win more business and larger project sizes, even on deductibles. With Hearth:
- Loan amounts can range from $1,000-$100,000, and customers can get funds into their account in 1-5 days.
- You can serve clients with credit scores as low as 500.
- You’ll never pay per-loan dealer fees.
- There are no minimum requirements to join!
More about liability insurance here: Contractor Liability Insurance
-Register as a Contractor.
Find out more about how to register as a contractor here: http://www.dpor.virginia.gov/boards/contractors/
-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.
You may be required to obtain a license to operate a construction business in a particular locale, whether you are a resident, or not.
Depending on the locale, you may need to apply for permits before commencing certain types of construction jobs.
-Building Code and Inspections.
You must be aware of building codes for particular jobs, and may be subject to inspections.
Depending on how many employees you have, you may need to follow OSHA regulations.
Depending on your startup budget, you may need to apply for financing to help pay for equipment.