Oklahoma has removed the barriers and streamlined the process to make it easier for companies to develop and grow. The region’s cost of doing business to be one of the lowest of the 361 metro areas surveyed. The index measured the relative cost of labor, energy, taxes and office space.
Oklahoma’s economy is not as balanced as those of many other U.S. states. There has in the past been overdependence on agriculture and petroleum, but the efforts of state and local officials to attract new forms of industry as well as tourism have shown some success.
Oklahoma has 303,135 small businesses, according to the most current federal data available.
Of those 303,135 small businesses in Oklahoma, 75,058 have employees. The remaining 228,077 are Oklahoma small businesses that have no employees.
Oklahoma was recently ranked No. 5 in WalletHub’s Best States to Start a Business. Building an innovation economy is arduous
Oklahoma is home to large companies such as: Express Employment Professionals, Hobby Lobby,
State of Oklahoma, QuikTrip, Accord Human Resources, Love’s Travel Stops & Country Stores, Sonic Drive-In, MidFirst Bank, Saint Francis Health System, University of Oklahoma
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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:
Choosing a business name is important, you want to make it easier for your customers to remember it, here are some tips:
Depending on the business structure you chose you will need to register your business.
Resale license
https://www.online-tax-id-number.org/oklahoma-department-of-revenue.html
Department of corporations
https://www.sos.ok.gov/corp/corpInquiryFind.aspx
SBA Office
https://www.sba.gov/offices/district/ok/oklahoma-city
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.
– Open a business bank account:
– Get a business credit card:
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 Oklahoma Businesses:
Selling products? Check Oklahoma Resale Permit
Business Licensing for the State of Oklahoma
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.
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: