Want to start your own business? Listed below you will find the steps for starting a business in Ohio. The Chamber and the Troy Development Council are available to answer questions you may have or to connect you with additional resources.
Steps for Starting a Business in Ohio
1. First, register with the Ohio Secretary of State.
Registration information as well as forms are available online or at (877) SOS-FILE.
2. Obtain a federal Employer Identification Number (EIN).
Contact the Internal Revenue Service to learn additional information and an online application at IRS.gov(opens in a new window) - search "EIN."
3. Open a Bank Account.
You will need your EIN to open a bank account.
4. Register with the Ohio Department of Taxation at Tax.Ohio.gov(opens in a new window).
Obtain information regarding Ohio taxes, including registration requirements, filing requirements and filing due dates. They also offer the Ohio Small Business Tax Training Program to help you acquire a broader understanding of Ohio’s tax requirements.
5. Report newly-hired and re-hired employees to the Ohio New Hire Reporting Center.
Report employee information at Newhire-reporting.com/oh-newhire(opens in a new window). More information can be obtained by contacting the Ohio New Hire Reporting Center at 888.872.1490.
6. Determine what may be required of your business by the Ohio Bureau of Workers' Compensation.
If your business or organization has one or more employees visit BWC.Ohio.gov(opens in a new window) and select "Employers."
7. Identify requirments of the Ohio Department of Job and Family Services.
Employers may be required to establish an Unemployment Compensation Tax Account with the Ohio Department of Job & Family Services. Visit JFS.Ohio.gov(opens in a new window) and search for “Employers.”
8. Obtain the proper licenses and permits.
The Ohio Business Gateway (Business.Ohio.gov(opens in a new window)) Licenses and Permits page provides a list of professional licenses and business permits necessary to do business in Ohio. Contact your county and local government to determine if any special requirements exist for your type of business.
9. File and Annual Report of Unclaimed Funds.
This is required of all agencies that are located and/or operate in Ohio and can be filed at the Ohio Department of Commerce, Division of Unclaimed Funds. The report can be found at Com.Ohio.gov/unfd(opens in a new window), through the Ohio Business Gateway or by mailing it to the Division of Unclaimed Funds.
10. Discover growth opportunities for your new business.
The Ohio Secretary of State’s office hosts the Ohio Business Resource Connection located at OhioSoS.gov/BusinessResources. The Resource Connection is a directory of services for all Ohio businesses and includes specific services for woman, minority, disability and military or veteran owned businesses. Additionally, the Small Business Administration provides resources to grow your business at SBA.gov(opens in a new window).