A business structure dictates how a business is taxed, the number of paperwork required to be completed, the possibilities of business growth in the future, and other vital aspects of business operations. Therefore, it is imperative to choose a structure that best corresponds to the nature of your business.
Startup Savant’s walkthrough guide will help you choose the right structure by presenting you with in-depth discussion on each option. Additionally, this side-by-side chart should give you a clearer view of the structures.
Once you have the structure, you should then register it with the Secretary of State’s office. The easiest way to go about this process is to let online incorporation service providers such as IncFile (for $49) or LegalZoom (for $149) take care of the entire task.
On the other hand, if you’re taking up the task yourself, we have come up with the appropriate guides to register different kinds of business structures. These guides will walk you through each step of registering your business.
As soon as the two steps above have been accomplished, the next steps to starting your incorporated business will then be to accomplish the tasks below.
When you start a business, a plan of action is required for implementation to ensure that business objectives are accomplished and business goals are met. This is why as a startup entrepreneur, you have to write an effective business plan.
While the prospect of writing a business plan may invoke feelings of dread, the task is not as scary as it seems. In fact, you can begin writing one now with the help of the resources below.
Personal and business transactions should be kept separate at all times. This is to ensure that you can better monitor your business operations when it comes to tax obligations, finances, and cash flow. Start this by creating a separate business bank account.
Recommended Resource: To get started on opening a business bank account, refer to this roundup of the best banks to open a business bank account.
It is standard procedure that when you register your Oregon business, you will be required to file for the requisite tax returns. The Oregon Revenue Online is the state’s online portal you can register with to complete your tax obligations.
Recommended Resource: To help manage your finances and expenses, Xero is a powerful small business accounting software that can effectively manage your finances. Try Xero’s 30-day free trial.
Aside from being obligatory requirements as an Oregon startup, business licenses lend credibility and reputation to your business. In addition, business licenses also protect you, the owner, and your business.
Recommended Resource: For expert professionals to gather all the necessary forms and requirements for Oregon business licenses, this starter package is a good option. On the other hand, if you want to take care of everything, you can check this SBA resource roundup.
A website has so many advantages for your startup. Primarily, it serves as your brand’s image online and proves your credibility. It also helps increase customers, thus sales and can even be used as a marketing tool. Bluehost, a web hosting service, is an excellent option to help start your WordPress website through a single-click installation.
Recommended Resource: The basic steps to designing a website can be done through the help of this step-by-step guide.
Please take note that this is an informational guide on how to incorporate an Oregon business. It is not a legal document or legal advice. Talk to a business lawyer for the legal complexities involved in incorporating a business.