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Discover what it takes by charting your course with…

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Presentation on theme: "Discover what it takes by charting your course with…"— Presentation transcript:

1 Exploring the Possibilities of Starting, Buying or Expanding a Small Business?
Discover what it takes by charting your course with… Small Business Basics Training

2 Small Business Development Guide Business Entities
Ohio Secretary of State, Sole Proprietorship Partnership (General or Limited) Corporation (C-Corp or S-Corp) Limited Liability Company (Partnership) Non-Profit Organization Click on “Business Basics – Guide”

3 Small Business Development Guide Name Registration
Ohio Secretary of State, “Doing business as a name other than your legal name, you must register it” Fictitious Name Registration Trade Name Registration Corporate Name Registration Click on “Business Basics – Guide”

4 Small Business Development Guide Licensing & Permits
First Stop Business Connection Menu of Business Types – Checklist of Regulations & Requirements “Starting Your Business in Ohio” Publication Click on “Business Basics – Guide”

5 Small Business Development Guide Vendor’s License
Ohio Department of Taxation, “If you need to charge sales tax, you need the appropriate vendor’s license or licenses” Ohio Business Gateway County Auditor’s Office Regular Vendor’s License Transient Vendor’s License Certificate of Exemption Click on “Business Basics – Guide”

6 Small Business Development Guide Tax Requirements
Federal Taxes, Ohio Taxes, Local Taxes – city, township, county & school Click on “Business Basics – Guide”

7 Small Business Development Guide Employer Requirements
Employer Identification Number (EIN), Immigration Law, New Hire Reporting, Wages and Hour, Unemployment, Worker’s Compensation, Employee Rights, Click on “Business Basics – Guide”

8 Small Business Development Guide Professional Advisors
Accountant Attorney Insurance Agent Bankers/Lenders Financial Advisors Other Service Providers Mentors

9 Small Business Development Guide Sources of Assistance
Ohio SBDC at Terra State, Small Business Development Centers of Ohio, Ohio Development Services Agency,

10 Small Business Development Guide Sources of Assistance
Association of Small Business Development Centers, Small Business Administration, Service Corps of Retired Executives (SCORE) – Toledo, Local Chambers of Commerce Local Economic Development Organizations

11 Small Business Development Planning Business Plan Functions
Acts as a Feasibility Study Tool for Obtaining Financing Serves as a Management Tool

12 Small Business Development Planning Business Plan Narrative
Statement of Purpose Description of Business Marketing Plan Competition Location Organization Plan (Management and Personnel) Click on “Business Basics –Bus. Plan Narrative”

13 Small Business Development Planning Business Plan Financial Pro Forma
Financial Requirements Amortization Schedule Pro Forma Income Statement Pro Forma Cash Flow Analysis Pro Forma Balance Sheet Industry Standard Income Data Click on “Business Basics – Bus. Plan Pro Forma”

14 Small Business Development Planning Small Business Funding
Private Funding Public Funding Hybrid Funding

15 Confidential, In-Depth Business Plan Counseling
Complete Research Complete Narrative Complete Financial Data Worksheet Complete Counseling Information Form Contact the SBDC for an Appointment SBDC Complete Business Plan Pro Forma Click on “Business Basics – Guide”, “Business Basics – Narrative”, “Business Basic – Worksheet”, “Business Basics – Counseling Information Form”, and “Business Basics – Pro Forma”

16 Small Business Development Planning Checklist – 1st Things 1st
Register with the Ohio Secretary of State ( Obtain your EIN from IRS ( Open a bank account Contact the Ohio Department of Taxation ( Report hired employees (

17 Small Business Development Planning Check-list – 1st Things 1st
Contact the Ohio Bureau of Workers’ Compensation ( Contact the Ohio Department of Job & Family Services ( Obtain the proper licenses and permits ( and

18 Small Business Development Center Presenter’s Contact Information Bill Auxter, Director Ohio SBDC at Terra State Community College 2830 Napoleon Road, Fremont, Ohio 43420 Building D, Suite D-201, Office C Direct Line:


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