Checklist for Starting a Business
Develop a Business Plan
Your nearby Small Business Development Center has been established to help business owners and aspiring entrepreneurs succeed. Their goal for new business owners is to help them do the careful planning required to minimize the risks of launching a new enterprise. The Business Incubator Small Business Development Center provides Professional Business Counseling, Excellent Low Cost Workshops, Information & Resources:
Business Incubator Small Business Development Center
2591 Legacy Way
Grand Junction,CO 81503
You may also wish to visit the Resources For Business Success link and then click again on the “Just Starting Out” menu item to access a template for developing a business plan and other essential information for first time business owners.
Join your local Chamber of Commerce
The Grand Junction Area Chamber of Commerce functions as a trade association for member businesses and professionals. Included in their services to members are business education and promotion, legislative advocacy, referrals, networking opportunities, community/business events and the primary source for community information. One of the first things a new business owner should do is join the Chamber and take advantage of its networking and referral opportunities to help build a customer base.
In addition, if you plan to hire employees or open an office you can take advantage of programs just for Chamber members such as discounted workers compensation group coverage and the Office Depot buying group.
Grand Junction Area Chamber of Commerce
360 Grand Avenue
Grand Junction, CO 8150
Frequently asked questions
What legal structure do I need to have to start a business?
There are a variety of legal forms your business can take, sole proprietorship, limited liability company or incorporation. You may wish to discuss these options with a legal professional or business counselor at the Small Business Development Center to determine which may be best for you.
How do I register my business name or set up a legal structure?
To verify if a name is already being used in Colorado, check the Secretary of State website. Corporations, Limited Liability Companies, sole proprietors, general partnerships and trade names register organizational paperwork with the Secretary of State (303-894-2200). Trade name registration with the Secretary of State does NOT establish exclusive rights. However, it is required when doing business under any name other than the first and last names of the owner(s)/organizer(s). For more information, refer to the Legal Structure chapter of the Colorado Business Resource Book.
Do I need an Employer Identification Number (EIN)?
You may not need an EIN if you are a sole proprietor with a valid social security number and no employees. If you will have employees you will need a federal identification number and a state tax identification form. An EIN is secured from the Federal Internal Revenue Department by completing a form. There is no charge. To access this form and more information go to http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/How-to-Apply-for-an-EIN
Do I need a sales tax number?
If you will be selling products you will need to collect state and local sales taxes.
You can apply for a state tax identification number using the online form CR 100 – New Employer Registration. (800) 852-5711; Forms (800) 338-0505. You will also need to collect sales tax on products sold in the City of Grand Junction. To view more information about this requirement you can download the City’s PowerPoint presentation on the subject, http://www.colorado.gov/cms/forms/dor-tax/2012SymGrandJunction.pdf.
Do I need a business license?
The State of Colorado and the City of Grand Junction do not require a business license. However, other municipalities may require a business license and you can check with the city clerk in most places to determine if a business license will be required.
Certain occupations in the state and city are required to be licensed. To see a complete list of which occupations have this requirement go to http://cdn.colorado.gov/cs/Satellite?c=Page&childpagename=DORA-Reg/DORALayout&cid=1251614750513&pagename=CBONWrapper
Where do I get a grant to start a business?
Unfortunately there are no grants to help someone launch a business. The Small Business Administration does have an online resource to help you determine your financial needs. You can find it at http://www.sba.gov/category/navigation-structure/starting-managing-business/starting-business/preparing-your-finances/understanding-basics.
Other Online Resources:
There are many great local resources for starting a business in the Grand Valley, and we believe this is a great location for business of all sorts. Below are a list of resources for you to get started.
Business Incubator Center – Offers classes, business space, kitchen space, coaching and supports the grown and start up of new business in our area.
Grand Junction Economic Partnership – offering demographics of local area, business. Connect with them for incentives, training, coaching, resources and more.
State of Colorado – Includes a list of links for registering your name, obtaining EIN, Colorado Business Registration etc…
Area Business Demographics – Learn how many businesses are in the Grand Junction area and what kind they are