Start Your Business
Have a big idea for your own business? Let's help you get started.
New Business Check List
Market research will tell you if there’s an opportunity to turn your idea into a successful business. It’s a way to gather information about potential customers and businesses already operating in your area. Use that information to find a competitive advantage for your business.
Market research helps you find customers for your business. Competitive analysis helps you make your business unique. Combine them to find a competitive advantage for your small business.
Reaching and understanding your target market will allow your business to grow and be successful more quickly. Along with questions about your target market, researching market trends and understanding the future of your market is also important.
Identifying Your Target Market
Your business plan is the foundation of your business. It’s a roadmap for how to structure, run, and grow your new business. You’ll use it to convince people that working with you, or investing in your company, is a smart choice.
It's also important to decide how you will structure your business, whether its a sole proprietorship, limited liability corporation or some other type of business.
It’s not easy to pick the perfect name. You’ll want one that reflects your brand and captures your spirit. You’ll also want to make sure your business name isn’t already being used by someone else.
There are trusted organizations that can help facilitate the process and make sure your plans are well thought out. Reach out to our partners at the Small Business Development Center for helping completing your plan.
Your business plan will help you figure out how much money you’ll need to start your business. If you don’t have that amount on hand, you’ll need to either raise or borrow the capital. Fortunately, there are more ways than ever to find the capital you need.
Kentucky Small Business Development Center
Mountain Association for Community Economic Development (MACED)
Your business location is one of the most important decisions you’ll make. Whether you’re setting up a brick-and-mortar business or launching an online store, the choices you make could affect your taxes, legal requirements, and revenue.
After you've finalized the details of your business plan it's time to file your business with the Secretary of State (SOS) and apply for an Employer Identification Number (EIN) with the Internal Revenue Service (IRS). More info.
Kentucky's One Stop Business Portal
Depending on where you're planning to do business, you may need a business license, need to pay an occupational tax, both, or neither. If your business is located in the city and you pay occupational tax, then you should not need to pay county occupational tax too.
Cities that issue business licenses
Cities that collect occupational tax
- Coal Run Village
- Elkhorn City
Counties that issue business licenses
Counties that collect occupational tax
Do you need a professional license from the State?
You also need to check whether or not you need a professional business permit from the state.
Finding the right employees is important to make your business successful. The following organizations will work with you to hire, train, and develop the workers you need.
Kentucky Career Center JobSite
East Kentucky Concentrated Employment (EKCEP)
Workforce Solutions at Big Sandy Community & Technical College
Now that you're working toward your grand opening, it's time to get the word out about your new venture. That's where we come in. The Chamber of Commerce is a great resource to help you network and find other businesses and service providers in the area. One of our most recognizable offerings is our ribbon-cutting and Live open house.