How to Start a Business in Vermont
- 1). Check currently used names with the Secretary of State's office and register your business name with the Secretary of State's office. The Vermont Secretary of State's website provides a checklist outlining the necessary steps for starting a business in the state of Vermont. Once you have a business idea and name for the new business, make sure that the business name is not in use by another business already.
- 2). Obtain a Federal Employer Identification Number and a Vermont Business Tax Account. The state requires all businesses to have a Vermont Business Tax account for filing sales and use taxes and any other state business taxes.
- 3). Get financing, one of the most challenging parts about starting a new business. The Vermont Community Loan Fund has a small business loan program. Some Vermont banks, such as Northfield Savings Bank, have special lending plans for start-up businesses. The Vermont Department of Economic Development also has a program designed to help small businesses, including small business loans.
- 4). Incorporate your business. Decide if the business will be run as a sole proprietorship, a partnership, an LLC or a corporation.
- 5). Obtain the necessary permits and licenses. Contact the Vermont Small Business Administration for assistance with which types of permits or licenses your type of business requires. The Vermont site on Business.gov also has relevant information on licenses and permits.
- 6). Get your business insured. Contact an insurance agent in your area to identify the types of insurance your small business will need. At a minimum, businesses need property and liability insurance policies.