Doing Business In Oregon

Oregon Business Facts

Oregon has a diverse manufacturing base with an emerging high-wage creative sector. Anchored by the strong high-tech presence, Oregon’s innovation culture is impressive. Oregon ranks 6th in patents per worker and 9th in business R&D spending.

While most of Oregon’s economic gains have followed national trends, there are certain areas in which Oregon has jumped ahead. Construction jobs surged 7.5% last year, while the national average was around 4%. Oregon’s thriving tech sector was also ahead of the national average, as were gains from finance, professional and business services.

Small business and Startup environment

Oregon has 320,019 small businesses, according to the most current federal data available. Of those 320,019 small businesses in Oregon, 101,693 have employees. The remaining 218,326 are Oregon small businesses that have no employees.

Currently experiencing a tech boom, both hardware and software sectors are growing strongly. The software industry is 2.5 times more concentrated in Oregon than other states.

Portland, Oregon has become one of America’s hottest destinations for entrepreneurs–thanks in part to its vibrant startup scene.

Last year, a record 73,151 new businesses were registered, the Oregon secretary of state says. The average startup valuation is $4.1 million, the Technology Association of Oregon says. Portland has been making the lists of top startup cities in national publications, including Forbes and Inc.

Oregon startups more commonly operate in niche markets, and when they’re successful they often sell to larger companies that consolidate them into a broader corporation. On Monday, for example, onetime Portland startup standout Janrain sold to a Massachusetts online services company, Akamai Technologies.

Major companies:

Oregon is home to large companies such as: Nike, Precision Castparts, Daimler Trucks North America, Banfield Pet Hospital, Oregon Health & Science University, Lithia Motors, The Greenbrier Companies, Saia, American Steel LLC, State of Oregon

Looking For Small Business Funding?

Apply Online and find out your financing options

Apply for business funding

STEPS TO STARTING A BUSINESS IN Oregon

Business Structure

Business Name

Business Registration

EIN Tax Number

Bank Account

Licenses & Permits

Branding & Marketing

Resources

FIND FUNDING

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 Oregon :

► Oregon Partnership:

► Oregon Corporation:

► Oregon 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

https://www.infotaxsquare.com/secretary-state/oregon-sales-tax.htm

Department of corporations

https://sos.oregon.gov/business/Pages/find.aspx

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 Oregon 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 Oregon Businesses:

Selling products? Check Oregon Resale Permit

Business Licensing for the State of Oregon

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: