Small Business Startup Assistance & Checklist
Steps to Start Your Wyoming Small Business
This checklist provides information to start a small business in Wyoming. While the list covers many of the major steps required, there may be others. Anyone who has decided to start a new business or expand an existing one, should first meet with a Small Business Development Center counselor.
6 General Steps to Start a Business in Wyoming
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Business Planning
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Market Research
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Business Appraisal for Buying or Selling a Business (not for startups)
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Entities & Government Regulations (permits, insurances, taxes)
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Accounting System
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Web (eCommerce)
Checklist To Start a Small Business in Wyoming
1. Business Planning
Build a Business Plan and accompanying Cash Flow Projection
You will find that all business startup activity begins here. A Wyoming Entrepreneur small business counselor can help you understand the process. Once you are finished or nearly so, have your business plan reviewed by click on the link below.
Visit our Business Plan Page for More Information
To use our free business plan template, you will need to download Files One and Two. File One is the Business Plan Outline and Instructions in Word. File Two is an Excel Workbook that includes the budgets and financial spreadsheets you will need to complete your business plan.
File One - Business Plan Outline and Instructions
File Two – Budgets and Financial Spreadsheets (Microsoft Excel format)
Have Your Business Plan Reviewed
Español
Descargar una Plantilla del Plan de Negocios (formato de Microsoft Word)
2. Market Research
Take advantage of a free basic market research from the Wyoming Market Research Center to consider competition, industry, target market(s), etc.
Request a Research Report with a Consultant
3. Business Appraisal for Buying or Selling
The Wyoming Small Business Development Center offers an unprecedented service to Wyoming entrepreneurs: Have your business or potential business purchase valued by qualified business appraiser.
Request a free Business Appraisal
4. Entities & Government Regulations (permits, insurances, taxes)
Register Your Business with the Wyoming Secretary of State's Office
First, decide which business structure you will choose by reading "The Choice is Yours."
You need to register if the business is operated under an assumed business name, partnership, or corporation. In order to do business as a corporation, a limited partnership or as a limited liability company, you must file with the Secretary of State.
Forms of Ownership Handout "The Choice is Yours"
Forms
Corporation Articles of Incorporation for either Subchapter S or General Corporations
Wyoming Close Corporation - Articles of Incorporation
Obtain an EIN: Employer Identification Number
If you will be paying wages to one or more employees, or if your business is a corporation or partnership, you are required to have an Employer Identification Number (EIN). The EIN is a nine digit number issued by the IRS to identify the employer by their tax account. *If you intend to incorporate your business, you should not complete the EIN Application until you have filed Articles of Incorporation or reserved a company name.
Contact the Internal Revenue Service for an employer identification number. Online is the easiest way to obtain the number and takes about 10 minutes.
Obtain a Sales/Use Tax Number
Contact the Wyoming Department of Revenue and Taxation regarding State sales and use tax collection. Some service companies do not pay sales tax, but the Department of Revenue can give you the final answer.
Register to Pay Wyoming Unemployment Insurance
Contact the Wyoming Department of Employment to see if you are required to purchase the insurance and, regarding employer services, job placement, JTPA training programs and unemployment insurance benefits.
Unemployment insurance is a fund established by law designed to compensate eligible workers for a portion of their wage loss when they lose their jobs through no fault of their own. The objective is to aid unemployed workers with a weekly income while they are looking for employment.
Wyoming Department of Employment
Unemployment Insurance Division
Register to Pay Federal Unemployment Tax (FUTA)
The majority of employers pay this. Supplements state unemployment tax. Visit the IRS site below for details.
Register to Pay Workers’ Compensation Insurance
Contact the Workers’ Compensation Division regarding Workers Compensation Insurance for details on requirements, coverage and premiums.
Workers' Safety and Compensation Division
Voluntary Safety Program
Contact Occupational Health and Safety Administration regarding voluntary work place safety program. The Wyoming Occupational Health and Safety Department’s Employer Voluntary Technical Assistance Program is designed to help workers and employers provide a healthier and safer work environment. This service is available for both the private and public work sectors. Although enrollment in the program is voluntary, if you become a client, you are exempt from all compliance inspections except for fatality/catastrophe investigations and compliance inspections.
Occupational Health and Safety
Obtain a City and/or County Business License
Contact city and county officials for local permits to conduct business. It is extremely important you do not overlook local requirements. Contact both municipal and county authorities to determine local requirements.
Wyoming Permit Manager
If you have specific, specialized questions concerning permitting and licensing in Wyoming, Paul Howard of the Wyoming Business Council is an excellent resource.
307-777-2843
Join Your Local Chamber of Commerce
Membership has many advantages for Wyoming small business. Contact your local chamber for details and don't miss out on a tremendous marketing opportunity by joining you local chamber.
5. Accounting System
Choose and Install an Accounting System
Wyoming Entrepreneur has a certified QuickBooks Pro Advisor and Trainer, should you choose the QuickBooks software. Our Advisor can help you select the proper version of QuickBooks, help you install it, then train you on the basic functions. *It is imperative that accounting software is installed properly, or years of frustration can result!
While QuickBooks is the only accounting software with which we have expertise, there are other options. Below you will find a link to another popular accounting software called Peachtree.
Contact our QuickBooks Pro Advisor
Download Intuit's Free Accounting Software: QuickBooks Simple Start
Learn about Peachtree Accounting software
6. Web (eCommerce)
Launch a Website for Your Business
We can advise you on how to obtain a domain name, choose a web host, build your site, optimize your site for search engines, register the site with search engines, sell products from your site, accept credit cards and more. We also offer free website analysis reports.
Learn About Our eCommerce Service
Free Download: Simple Guide to Start Your Website
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