Company in Oregon

You need a business plan before you can launch a company in Oregon. To do this, you need to focus on building a business that cares about the customer. You can follow the formats for business plans suggested by the Small Business Administration (SBA) online. This is your “roadmap to success” if your goal is to open a company in Oregon.

Developing Your Business Plan: Important Things to Consider

To make a basic business plan work, you need to think about a lot of things. For instance, you need to determine a target market and create a unique sales proposal (USP). A USP is a short phrase that explains what your business is all about. For example, if you sell cars, your motto might be “Driving to Be the Best in Oregon.”

You also need to write a pitch, which is a one-page summary of your proposed business plan. In a pitch, you talk about the most important parts of your business, such as your unique selling point, your target audience, your goals, and your growth marketing strategies.

Choose a Business Type

It is wise for a company in Oregon that wants to protect itself from personal liability to form an Oregon  limited liability company (LLC) or plan on forming one of the corporations in Oregon that are part of the Secretary of State’s business database.

Establishing Oregon Partnerships

Oregon partnerships do not have to register with the state. In fact, a partnership can begin business operations right away. However, a partnership doesn’t offer the tax benefits or protection for personal assets that corporations and limited liability firms do. This is important to keep in mind when choosing a business structure.

You can still make a partnership asset-protected though if you turn it into an LLC. This protects you from liability and helps you save money on taxes. For example, you can create an LLC with partners who agree to be treated as a limited liability partnership legally. You can do this if you have two or more members.

A partnership can become either an asset or a member of an LLC. This will protect your personal property. It will allow you to separate your personal assets from your business assets as well.

As noted, this benefit is also available to people who want to start an LLC or corporate company in Oregon. To get these perks, an LLC or corporation must register with the state.

Setting Up an Oregon Limited Liability Company (LLC) or Corporation.

Most new businesses find that forming an LLC is the easiest and least expensive way to protect themselves from liability. Whether you choose an LLC or want to incorporate your company in Oregon, you must take the following legal steps:

       1. Choose a registered agent who will take care of your company’s formation documents. The person who acts as the registered agent must live in Oregon and be reachable during business hours during the week.

  1. You also need to get an Employer Identification Number (EIN) from the IRS. This number is like a Social Security number in that it is used as an ID for business tax purposes.
  2. Give your Oregon LLC or corporation a unique name. You must check the SOS database for a unique business name so you don’t run into any trouble with copyright or trademark infringement. Have a backup name in mind in case your first choice is taken. You can fill out an application form and reserve the name if you’re not setting up your business right away.
  3. Create the company founding documentation. If you’re forming an LLC, you’ll need to draft articles of organization or create articles of incorporation if you wish to set up a corporation.
  4. Review the licenses or permits you need to obtain and check for permissions.
  5. Select the people who will be the operational members of your LLC or the directors of your corporation.
  6. Establish an operating agreement for in-house use to settle possible internal disagreements if you’re creating an LLC. Your bylaws will serve in this capacity if you plan to incorporate them.

*It’s important to remember that the articles of incorporation and the bylaws of an Oregon business are not the same thing. The bylaws have a lot of detailed information about how a company works. But the articles are what the state needs to know about your business and its formation. 

Set up the Business’s Accounting Method and Financial Accounts.

To keep your personal money and business money separate, you need to set up a separate accounting ledger and financial accounts. This separation of finances is needed to protect your personal assets.

When you mix your business and personal assets, it makes it more likely that your cars or home could be taken away during a lawsuit. The business world sees this as “cutting through the corporate veil.” Therefore, make sure everything stays organized – or divided personally and commercially.

Contact the Corporation Center Right Away to Set up a Company in Oregon.

If you want to make starting a company in Oregon easier and more convenient, you should get in touch with a firm that can handle registration quickly and efficiently. Call (800) 580-4870 right away to get in touch with the Corporation Center today. Fill out an online application to register your company.