How many times have you said “I need to start my own business,” but never took any action? Maybe you thought it would take too much time or money. Well, you are wrong on both counts. Starting a business in the State of Ohio is easy - just 4 steps - and costs less than $150.00.
Become the CEO you were destined to be by taking these actions NOW.
Step 1. Create an acceptable name for your company; one that is not being used.
- The name for your company must be acceptable and have sufficient uniqueness. What does this mean?
See: Deciding on a unique company name
- Next, check for name availability: Is my desired company name available?
- If the name is already taken and you want to know who has it, you can find out. Note: for a few extra dollars, the current holder might sell you the name. At this time you might want to see if a domain is also available (name.com, name.biz, name.tv, name.net, etc.)
Step 2. Select the type of legal entity you want for your company, such as a C-corporation or a Limited Liability Corporation.
- Read more about the types of entities and the associated fees for businesses in Ohio.
Step 3. Fill out the correct form and pay the associated fee.
- You can download the necessary form as a PDF or in Excel - but neither can be saved, you must print it for a record. Be sure to follow all instructions on the form.
- Submit the fee to the appropriate address and P.O. box. Both are printed on the top of the page where all of the forms are listed. RED FLAG - if you don’t send the fee to the exact address listed, you will not receive a response.
Step 4. Apply with the United States Internal Revenue Service (IRS) for an Employee Identification Number (EIN).
- Once you receive your company’s Ohio charter number, file online or fax form SS-4 to the IRS to receive your EIN.
About EINs / Apply for an EIN online now
If you start today, you could own your own business in a couple of weeks!
Greg Knudson
Director, Rocket Ventures
knudson@rgp.org