When starting a new business, it is a good idea to :
| Develop a business plan. PCEDC (970-854-4386) and the Small Business Administration (www.sba.gov) can assist you with this. Elements of a business plan include: | ||
| Description of your business | ||
| Market Analysis including trade area, household income, & competitors | ||
| Marketing Plan, including advertising and sales promotions | ||
| Cash flow projections for two years | ||
| Income projections for two years | ||
| Balance sheet | ||
| Sources and applications for funding | ||
| Seek Professional advice | ||
| - | The Small Business Administration (Merle Rhodes) | |
| - | Phillips County Economic Development (970-854-4386) | |
| - | Attorneys and Accountants are also sources to consider | |
| Learn about Management Issues. Most businesses have problems because of management errors in planning and implementation | ||
| Get adequate insurance coverage |
Once you decide to go into business:
| Find a location: | ||
| - | Phillips County Economic Development (970-854-4386) | |
| - | Haxtun Chamber of Commerce (970-774-6104) | |
| - | Holyoke Chamber of Commerce (970-854-3517) | |
| - | Local realtors found in Phillips County Resource Guide can assist you in locating available building sites. | |
| Check local zoning regulations: | ||
| - | Town of Haxtun (970-774-6104) | |
| - | City of Holyoke (970-854-2266) | |
| Contact the Colorado Business Assistance Center (303-592-5920) (www.state.co.us/oed/bao) for State License and Permit information as well as regulatory agencies that will affect you business. | ||
| Contact the local banks listed in the Phillips County Resource Guide and the Revolving Loan Fund for information about finance and business loans | ||
| Understand federal, state, and local tax laws: | ||
| - | Contact the IRS (800-529-1040) (www.irs.gov) for Federal taxes | |
| - | Contact the Colorado Dept. of Revenue (303-446-1675) (www.revenue.state.co.us) for state taxes | |
| - | Contact Phillips County Clerk (970-854-3131) for local taxes. | |
| If you are a corporation, file your corporate papers and register your trade name with the Secretary of State (303-894-2200) (www.sos.state.co.us) | ||
| If you are a Sole Propietorship or a general partnership, register your name with the Colorado Dept. of Revenue (303-446-1675) (www.revenue.state.co.us) | ||
| If you sell taxable products, get a Colorado Sales Use Tax Application Form form the Colorado Dept. Revenue (303-446-1675) (www.revenue.state.co.us) and one from either the Town of Haxtun (970-774-6104) or the City of Holyoke (970-854-2266) | ||
| Obtain a building permit if you intend to do and constructural, electrical, or plumbing work from either the Town of Haxtun (970-774-6104) or the City of Holyoke (970-854-2266) | ||
| If you intend to sell beer, wine, or liquor, obtain a beer license form the either the Town of Haxtun (970-774-6104) or the City of Holyoke (970-854-2266) | ||
| If you intend to sell food, call the Northeast Colorado Health Dept. (970-522-3741 to check on health requirements. | ||
If you will have one or more employees:
| Obtain the Colorado State Business Start-Up Kit (303-592-5920) (www.state.co.us) which contains information and forms for filing a federal identification number, withholding tax accounts, unemployment insurance registration, and Worker's Compensation forms and information. | ||
| Contact the Division of Labor (303-318-8441 or 800-390-7936) (www.coworkforce.com) for minimum wage laws. | ||
| Obtain antidiscrimination posters from the Civil Rights Commission (303-894-2997) | ||
Copyright
© 2004 Phillips County Economic Development Corp..
