Starting a Business in 2026? Legal Steps to Take Before You Open
As we step into 2026, many aspiring entrepreneurs across the Myrtle Beach area are ready to turn their business dreams into reality. In fact, the start of a new year often brings a surge of interest in starting a business. This is the time of year when people refocus, set goals, and finally decide to move forward with something they’ve been planning for months, or even years. Nationally, millions of new business applications roll in every year, and many of those will become some of your favorite small businesses in town!
According to the U.S. Census Bureau’s Business Formation Statistics, overall business applications and projected formations remain strong nationwide. For example, in late 2025, there were over 535,000 business applications in just one month. Plus, projected business formations were up more than 6% compared to the previous month. (X)
If you are thinking about starting a business in 2026, it’s worth taking a little extra time now to make sure your legal foundation is lined up before you make your first sale. These early steps help you avoid surprises later in the year and put you in a stronger position to succeed.
1. Choose the Right Business Structure
The first big decision is choosing a legal structure:
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- LLC – A flexible business structure providing liability protection for owners while allowing profits and losses to pass through to their personal taxes.
- S-Corp – Offers liability protection and allows profits and losses to pass directly to shareholders for tax purposes.
- C-Corp – A standard corporation that provides liability protection but is taxed separately from its owners.
- Partnership – A business owned by two or more people who share profits, losses, and management responsibilities. Each partner is personally liable.
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Each structure affects how you pay taxes, your personal liability, and how you can raise money or bring on partners. What works for your cousin’s small auto body shop might not be right for your tech consulting business, as just one example.
2. Register with the State
Once you’ve chosen your structure, you’ll need to register your business with South Carolina. This includes filing formation documents and picking a unique business name that’s not already in use. Registration officially establishes your business and allows you to open bank accounts, apply for loans, and enter into contracts. Once these steps are completed, purchasing things for your business, such as equipment, a brick-and-mortar office, and taking on employees, is less of a hassle.
3. Get Your Licenses, Permits & EIN
Depending on your industry, you may need licenses or permits at the city, county, or state level. For example, a restaurant in Myrtle Beach needs health and safety permits. Or, a construction company may require its employees to have proper training and certifications to work. You’ll also want an Employer Identification Number (EIN) from the IRS, even if you don’t plan to hire yet. It’s required to open a business bank account.
4. Create Foundational Agreements
If you’re starting your business with partners or investors, written agreements help prevent misunderstandings. An operating agreement or shareholder agreement spells out ownership, responsibilities, and what happens if someone leaves the company. With the help of professional attorneys, like those at Grand Strand Law Group, we can help draft these documents for you to present to your potential partners.
5. Look Beyond Launch
Starting your business is exciting, but your legal needs will continue throughout the life of your company. Annual renewals, regulatory requirements, contractual updates, workers’ comp claims, and compliance questions all come up as your business evolves. Having an experienced business law team in your corner early can save you time and stress later.
Starting A Business In Myrtle Beach With Grand Strand Law Group
Myrtle Beach is a unique business environment with seasonal markets, tourism trends, coastal regulations, and local licensing rules. With so much on your plate, you don’t want to have to worry about the legality of your startup as well. As many entrepreneurs in the area prepare business plans early in the year, taking the time to get expert legal input now can make your launch smoother and your business stronger.
If you’re planning on starting a business in 2026 and have questions about business law, opening a small business, entity formation, or compliance, Grand Strand Law Group is here to help.
We are here to guide you through every step of the process, making starting a business in Myrtle Beach smooth and easy. Give us a call at 843.492.5422. Learn about how we can help with starting a business now or in the future.