Starting a business as a solo founder can feel overwhelming, especially when you’re wearing every hat and handling everything on your own. But getting legally set up and accessing funding doesn’t have to be complicated. In fact, if you break it down step-by-step, it’s totally doable. No legal team or investor meetings are needed.
In this blog, I’ll walk you through exactly how to legally register your business and how to get access to funding, even if you’re just starting out, with tools that are designed for solo entrepreneurs like you. Let’s get into it.
Step 1: Choose a Business Structure
First, you need to pick your business structure. The most common option for solo founders is the LLC (Limited Liability Company).
Here’s why an LLC is the go-to:
- It protects your personal assets from business debts and liabilities.
- It keeps taxes simple with pass-through taxation.
- It looks more professional when working with clients or vendors.
You can form an LLC in your home state, or you can consider business-friendly states like Wyoming or Delaware. But unless you’re dealing with special tax strategies, your home state is usually fine. Our state LLC guides will help you get to know everything you need to open an LLC in your favorable state:
Step 2: Register Your LLC Online
Once you know you want an LLC, it’s time to make it official.
You have two options: file it yourself through your state’s Secretary of State website or use a registered agent service to make it easier. These services handle everything for you: paperwork, filing, reminders, and even privacy.
Here are some trusted services to check out:
- Northwest Registered Agent – Reliable and fast. Great customer support.
- Bizee (formerly Incfile) – Offers a free LLC filing package (you just pay the state fee).
- Tailor Brands – Ideal if you also want branding, like a logo and domain name, included.
Pro tip: These services also provide annual report reminders and compliance tools to help you stay in good standing.
Step 3: Get an EIN (Employer Identification Number)
Even if you don’t plan to hire employees, you need an EIN from the IRS. It’s free and only takes a few minutes to apply online. You’ll use this number to:
- Open a business bank account
- File taxes
- Apply for funding
- Work with contractors or vendors
Once you have your LLC and EIN, you’re officially in business.
Step 4: Open a Business Bank Account
This is non-negotiable. You need a separate account to keep your personal and business finances apart. This helps you:
- Track income and expenses more clearly
- Simplify tax filing
- Avoid legal trouble by showing your business is separate from you
Look for banks that offer low fees and easy online banking. Digital banks like NorthOne and Relay are great for freelancers and solo founders.
Check out our favorite credit cards
Step 5: Set Up Basic Legal Protections
You don’t need to hire a lawyer for everything, but you do need a few basic legal templates to protect your business.
At the very least, get:
- A client agreement or service contract
- A privacy policy and terms of service if you’re running a website
- An independent contractor agreement if you’re hiring help
You can use tools like LawDepot or Termly to get affordable, customizable templates.
Step 6: Get Funded Without Investors
Here’s the part most solo founders struggle with funding. If you’re not ready to pitch VCs or give up equity, there’s another route: revenue-based financing. One of the best tools for this is Revenued.
What is Revenued?
Revenued is a business funding platform designed for small businesses and solo founders. You don’t need a perfect credit score to get approved. Instead, they look at your business performance and your actual revenue.
They offer:
- A business card that’s more flexible than a credit card
- Cash advances based on your sales
- No hard credit checks
Key Features
Business card with no credit check, based on revenue instead
Flexible spending power that grows with your business
Cashback rewards on every purchase
Why We Recommend It
The Revenued Business Card is ideal for small businesses that need flexible funding but don’t qualify for traditional credit. It’s based on your revenue, not your credit score, making it easier to get approved and grow.
Pros & Cons
- No credit check required
- Cashback on all purchases
- Fast approval and access to funds
- Only available to businesses with consistent revenue
- Daily repayment model may not suit everyone
If you have steady sales coming in, even if it’s just a few thousand a month, you may qualify. This is ideal for online business owners, coaches, consultants, and digital service providers.
Why it works:
- You keep 100% ownership, no equity or investors are needed
- Fast approval and simple applications
- You can get approved even if you’re new and building momentum
If you’re serious about growing, Revenued is one of the easiest ways to get funding without going into debt or giving up control
Final Thoughts
Being a solo founder doesn’t mean you have to figure it all out alone. With the right structure, legal setup, and tools, you can build a legit business that’s protected, positioned for growth, and financially supported without outside investors.
Start with your LLC, get your finances organized, and use platforms like Revenued to access capital when you need it. If you’re just getting started and want to simplify the process, check out our other resources on business banking, LLC formation, and startup tools. And don’t forget momentum beats perfection.
