This week, February 15-22, 2020 is National Entrepreneurship Week (#NatlEshipWeek). The U.S. has 30 million small businesses and entrepreneurs. There is never a better time than now to start a business, and Ohio is a great state for business. I posted on this blog on starting a business, the Small Business Administration offers a helpful guide, as does the Ohio Secretary of State here, and Ohio offers advice here. So many of my clients who have started their businesses are going strong, and I hope you have the same success. Here is my post from January 24, 2019, Starting a Business in Ohio:
The first of the year typically brings clients wanting to begin the new year by starting a business. I enjoy working with people who want to pursue their dreams, whether it is working for themselves, or turning a hobby into income, or providing a product or service to others. In addition to filing forms and preparing organizational documents, my role as your attorney is to take all steps necessary to protect you and your assets from personal liability.
The necessary actions in starting a business in Ohio will vary according to what type of business you’re starting. Basic steps include:
- File with the Ohio Secretary of State;
- Get an Employer Identification Number (EIN) from the IRS, even if you have no employees;
- Open a business bank account;
- Prepare an operating agreement;
- Register with the Ohio Department of Taxation.
This list is not exhaustive. If you have employees, you should contact the Ohio Bureau of Worker’s Compensation and the Ohio Department of Job and Family Services to determine any steps you need to take. Certain businesses will need to obtain special licenses and permits, particularly if your business involves preparing and selling food.
If you want to discuss starting your own business, contact me at firstname.lastname@example.org. It is never too late to become an entrepreneur in business-friendly Ohio.