To open a small business, you start with a business plan that will serve as a roadmap for your business during the first few years. Then form your business legally as either a single owner, a partnership, a company or a limited liability company. Once you have established your business you can register it and get all the necessary licenses and permits. From there, you can start hiring employees, setting up a website and preparing for the launch of your business. For more tips from our financial co-authors, like how to promote your business, scroll down!