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What steps do I need to take to start a small business in Ohio?

Picture of Chris Battis By   ·  1 minute read

To start a small business in Ohio, there are several steps you need to take:

  1. Choose a business structure: The first step is to determine what type of legal structure you want for your business. Common options include sole proprietorship, partnership, limited liability company (LLC), and corporation. Each structure has its benefits and drawbacks, so it is important to consult with an attorney and/or accountant before deciding.
  2. Name your business: Once you have chosen a structure, you need to choose a name for your business. Before settling on a name, you should conduct a search to make sure it is not already in use by another business in Ohio.
  3. Register your business: You will need to register your business with the Ohio Secretary of State. This can be done online or through the mail. Depending on the structure you have chosen, you may also need to obtain various permits and licenses from state and local agencies.
  4. Obtain an EIN: An employer identification number (EIN) is required for most businesses. You can obtain an EIN from the IRS online or by mail.
  5. Register for taxes: Depending on your business structure, you may need to register for various taxes with the Ohio Department of Taxation. This includes sales tax, use tax, and employer withholding tax.
  6. Obtain insurance: Depending on the nature of your business, you may need to obtain various types of insurance, including general liability insurance, property insurance, and workers’ compensation.
  7. Open a bank account: Once you have registered your business and obtained all necessary permits and licenses, you can open a business bank account. This will help you keep your personal and business finances separate.

It is important to note that the steps required to start a business can vary depending on the specific nature of your business and where it is located. It is always a good idea to consult with an attorney and/or accountant before starting a business to ensure that you have taken all necessary steps and are in compliance with all applicable laws and regulations.