A quick Google Search on registering a new business in Oregon will produce a confusing mess of links, articles, and suggestions that make business registration appear complicated. While you can find all the information you need on Oregon’s Secretary of State Website, it will be buried in so much irrelevant information, you may get lost.
In this article, I’ll walk you through the six vital steps to register a business in Oregon, as well as provide some tips on what to consider after registration is complete.
Before I get to the steps, let’s make some basic assumptions. You’ve already spent time hashing through business ideas in the ideation stage and you know what product or service you plan to sell. You’ve done a little market research and have some idea of how you might finance this new venture of yours in the validation stage. Now, long before the launch stage where you go big in front of the world, you’re getting all your legal ducks in a row.
Are we good? Then let’s talk about registering a business in the State of Oregon:
Six Steps For Oregon Business Registration:
Step 1: Choose a Business Name
It may seem trivial, but the very first step in registering a business in Oregon is to decide what you are going to call your business. Choosing a unique name is a vital first step because your business name must not already be registered by another business in the entire State of Oregon. Take the time to get this right so you’re not confusing customers in the second or third year when you’d rather pivot to a different name.
To see if your desired business name is available, search the business registry database at the Oregon Business Registry.
Pro Tip: I like to name a new business based on available domain names. This not only keeps your name memorable but also ensures good SEO coverage once your business website is up and running. Use a tool like name.com to see what’s out there and curate a list of potential domains.
Step 2: Choose a Business Structure
Next, choose a legal structure for your business. There are many business organizational structures to choose from. Each structure has its benefits and drawbacks, so it’s important to do your research and consult with a business attorney or accountant to determine the best structure for your business.
Oregon Business Xpress has a helpful chart for the five most common types of business registered in Oregon: Sole Proprietor, General Partnership, Limited Liability Company, Business Corporation, and Nonprofit Corporation.
Step 3: Register your business with the Oregon Secretary of State
Once you’ve chosen a name and legal structure for your business, you’ll need to register with the Oregon Secretary of State. You can do this online through the Business Registry website, or the mail with printable forms found here. There is a fee for registration, which varies depending on the legal structure of your business.
Once you’ve registered, wait to receive an Oregon Business Registration Number (BRN). This number is required to do business in Oregon, and your banker will ask for it before you can open a business checking account.
Pro Tip: For Sole Proprietorships (where many entrepreneurs can start quickly before any hires are made), you’ll want an Assumed Business Name or ABN. It’s the quickest way to get registered, and you’ll want this name on your business bank accounts.
Step 4: Obtain the Necessary Licenses and Permits
Depending on the nature of your business, you may need to obtain certain licenses and permits from local or state government agencies.
You can take time to browse the Oregon Business Xpress website to see what licenses and permits your business may need, but here’s the shortcut: Apply for trade licenses here and apply for local business licenses here.
Step 5: Register for taxes
You’ll need to register your business with the Oregon Department of Revenue for tax purposes. You can do this online through the Revenue Online website. You may also need to obtain an Employer Identification Number (EIN) from the Internal Revenue Service (IRS) if you plan to hire employees or if your business is a corporation, partnership, or LLC.
Step 6: Comply with ongoing requirements
After you’ve registered your business, there are ongoing requirements to comply with, such as filing annual reports and renewing licenses and permits. Be sure to stay up-to-date with these requirements to avoid penalties or legal issues.
You’ll want to consider your insurance needs such as liability insurance, property insurance, and worker’s compensation insurance. Consult with an insurance agent to determine what types of insurance are necessary for your business.
Conclusion: This is easier than you think
Registering a business in Oregon requires just a few specific steps, not the impossible bulk of information loaded on you from the internet or government agencies. So choose a name, decide on a legal structure, register with the Secretary of State, get licenses and permits, register for taxes, and stay up to date.
When you do your research, consult with professionals, and stay organized throughout the process, registering a business in the State of Oregon is easier than you might think.
