Doing Business In Kansas

Business facts:

Kansas is an important agricultural state, ranking 7th among the states for total agricultural production.

With several large aircraft corporations operating out of Kansas—including Boeing, Cessna, Learjet and Spirit AeroSystems—the state’s economy is heavily influenced by the aerospace industry. Kansas offers one of the best business incentive packages of programs in the country and the state scores points for its pro-business regulatory climate, which is tops in the nation, according to the Cato Institute.

Small business and Startup environment

Kansas has 229,776 small businesses, according to the most current federal data available.

Of those 229,776 small businesses in Kansas, 67,120 have employees. The remaining 162,656 are Kansas small businesses that have no employees. NetWork Kansas is a 501c3 nonprofit organization dedicated to developing an entrepreneurial ecosystem in Kansas that connects aspiring, emerging, and established businesses to a wide network of business-building resource organizations across the state. Lots of tech start-up activity is taking place in Kansas City, home of Duct Tape Marketing, the Kauffman Foundation and the first city to receive Google Fiber in late 2012 in an estimated half billion dollar investment. Long referred to as the “Silicon Prairie,” Kansas City is quietly making its mark as a great place for startups of all flavors.

Major companies

Kansas is home to large companies such as: Koch Industries, Butler Transport, Dillons,

YRC Worldwide, NPC International, Sprint, AMC Theatres, Payless ShoeSource, Favorite Healthcare Staffing, Spirit AeroSystems.

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STEPS TO STARTING A BUSINESS IN KANSAS

Business Structure

Business Name

Business Registration

EIN Tax Number

Bank Account

Licenses & Permits

Branding & Marketing

Resources

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Step 1: Choose A Business Structure

The most common business structures are sole proprietorship, partnership, limited liability company (LLC), and a few different types of corporations—the standard corporation (often called a C corporation or “C corp”), the small business corporation (often called an S corporation or “S corp”), and the benefit corporation (often called a B corporation or “B corp”).

The most common business structures are:

► Sole Proprietorship in Kansas:

► Kansas Partnership:

► Kansas Corporation:

► Kansas LLC:

Step 2: Choose The Right Business Name

Choosing a business name is important, you want to make it easier for your customers to remember it, here are some tips:

Avoid hard-to-spell names.
Don’t pick a name that could be limiting as your business grows.
Conduct a thorough Internet search.
Search and purchase a domain name.
Use a name that conveys some meaning.
Conduct a trademark search.

Step 3: Register Your Business

Depending on the business structure you chose you will need to register your business.

Resale license

Department of corporations

Step 4: Obtain an EIN Tax Number

With limited exceptions, most businesses require an Employer Identification Number (EIN), also known as a Tax ID Number. An EIN is used to identify a business in its federal tax filings. Without an EIN, you can’t hire employees or open a business bank account.

Click Here to Apply for EIN number online

Get Inspired by these Kansas Startups

Step 5: Open A Bank Account

– Open a business bank account:

Separates your personal assets from your company’s assets, which is necessary for personal asset protection.
Makes accounting and tax filing easier.

– Get a business credit card:

Helps you separate personal and business expenses.
Builds your company’s credit history, which can be useful to raise capital later on.

Step 6: Licenses & Permits

Now that you’ve registered your business name you need to obtain a business license for your company – this authorizes your company to do business in your city or county. Typically this also involves registering for state taxes and permits (the city may require them as part of the business licensing process).

Here are some links for Kansas Businesses:

Selling products? Check Kansas Resale Permit

Business Licensing for the State of Kansas

Step 7: Branding & Marketing

Your brand is the image customers have of your business, so it’s important to determine who is your audience and what is the message that you want to project. That way, your company’s image will be what you intend it to be. It should be strategic and intentional.

Step 8: Establish a Web Presence

Creating an optimized website helps you to gain important visibility for the right terms. A website is a powerful sales tool and one that allows you to address your customers’ concerns, give them the information they need to make a decision and create compelling calls to action.

In addition to a website, you should also consider other avenues for promoting your business online: