Starting an Ohio business

Ohio is a great state for small businesses. In fact, the state has nearly a million small businesses, accounting for more than 99% of all commercial enterprises. The state also has a broad range of industries one can into; however, a would-be business owner may not know where to begin.

Steps for starting a small business

An entrepreneur can follow the steps listed to get his or her small business started in Ohio:

  1. Create a plan – The very first thing an entrepreneur should do is decide on the industry in which they will operate and what types of goods and services they will offer. A business plan will help identify target consumers and will help one decide on how much capital he or she will need to get the business running.
  2. Choose a name and entity – An entrepreneur should then decide on the type of business entity they will start, and they should register the business’ name with the state. This will establish the business as a legal entity, and they name cannot be one already in use and registered by another business. A business can be a sole proprietorship, a partnership, an LLC or a corporation.
  3. Get any required licenses and permits – Depending on the goods and services offered, a business may need special licenses and permits in order to operate legally and within regulations.
  4. Open a business account – It will be important to keep personal and business finances separate, and an entrepreneur will need to open a business account. They will also need to get an Employer Identification Number from the IRS, particularly if the business plans on having employees.

Starting a business can be a very rewarding experience, and an entrepreneur can become successful by following a well-thought-out marketing and business plan. However, the process of setting up a business can be complex. As such, anyone wanting to start a business in Ohio should consult with an experienced attorney for help throughout the process.

Work With Our Miami County Legal Team

Whatever your demands, Dungan & LeFevre is the full-service law firm you need. We can help you explore your options, guide you through challenges, and represent you in court. You can rely on our experience and knowledge to steer you to your best decision for the most reasonable price. Get started with a consultation.