Oregon Business Facts
Oregon’s laid-back youth culture, an abundance of outdoor activities, and high-tech employment opportunities are just a few of the reasons this scenic state of the American Northwest ranks highly on national “Best Places” lists. Oregon’s economy is growing at a healthy pace and the city of Portland in particular is a breeding ground for independent businesses with both locals and tourists drawn to the self-expression of its entrepreneurs.
Major Companies Headquartered in Oregon
Oregon is the corporate home base to many domestic and international businesses, like Nike, Daimler Trucks North America, Collins, Precision Castparts, Fred Meyer, Lithia Motors, and Les Schwab Tire Centers.
Oregon Startup Environment
Oregon entrepreneurs get a boost from the state’s pioneer spirit, educated workforce, strong infrastructure, and high quality of life. However, Oregon’s lack of capital, high personal income, and capital gains taxes, and restricted land use laws inhibit the growth of Oregon businesses.
There are 3 basic options: a DBA, a Corporation, or an LLC. Click here to learn more about business entities.
Choosing a business name is easier said than done – many legal and business problems can arise from picking the wrong name (it’s easier to keep your original business name than changing it later). In Step 3 we’ll show you how to search for the name in Oregon, but we highly recommend you do the following before searching Oregon state databases:
TIP: search misspellings, plurals, variations of spelling, sound-alikes, and other versions of your chosen name to be sure it’s not already registered.
Restrictions on Oregon Business Name & Business Purpose
Each state has its own requirements for registering a business. Now that you’ve chosen a business structure and selected your business name, here are the requirements to register your business in Oregon.
How to form an LLC in Oregon
How to Incorporate in Oregon
NOTE: When registering a new company the Secretary of State can take several weeks to file the paperwork. You can expedite the process by hand delivering the documents directly to them or one of their field offices and paying an additional fee.
TIP: Check our order form to see how long Oregon is currently taking to process regular and expedited orders.
How to File a DBA in Oregon
Optional considerations when registering an Oregon business
Ready to register a business in Oregon?
Sure, you could do all the steps above or you could spend 5-10 minutes on our order form and let us take care of it while you work on more important things.
Your EIN is like your Social Security Number for your company. It’s required for Corporations and LLCs and optional for DBA’s (if you don’t have any employees, then it’s required). However, if you are a DBA and don’t obtain an EIN you will be forced to use your Social Security Number on many documents so it’s typically recommended you obtain the EIN to prevent identity theft.
TIP: We will obtain your EIN for you if we form your company.
To keep business and personal expenses separate, you should open a separate account for your business. In addition, getting business credit cards is how you begin to build a company credit profile (corporation or LLC required) and can later qualify for larger loans and lines of credit. To open the account simply call your chosen bank and inquire on the steps to open a business bank account. Typically you’ll need a) your filed paperwork b) your EIN c) a company resolution authorizing your company to open the account (signed by the owners, members, officers or directors, etc.).
Click here to view a list of our recommended banks in our Vendor Network.
TIP: Our business formation service includes a free banking resolution for your use.
Setup your Accounting and Record-keeping system and learn about the taxes your new company is responsible for paying.
Company documents generally are required to be kept for 3 years, including a list of all owners and addresses, copies of all formation documents, financial statements, annual reports, amendments, or changes to the company. All Tax and Corporate Filings should be kept for at least 3 years. View our “Accounting & Financial Management” section for help with setting up an accounting system and purchasing accounting software.
Now that you’ve registered your business name you need to obtain a business license for your company – this authorizes your company to do business in your city or county. Typically this also involves registering for state taxes and permits (the city may require them as part of the business licensing process).
TIP: We can help you identify the necessary forms to obtain your business license.
If you intend to hire yourself or others as a full or part-time employee of your company, then you may have to register with the appropriate State Agencies or obtain Workers Compensation Insurance or Unemployment Insurance (or both). View our “Employees & Payroll” section for help with hiring employees and processing payroll.
Review our list of recommended Payroll Providers in our Vendor Network.
There are many types of insurance for businesses but they are usually packaged as “General Business Insurance” or a “Business Owner’s Policy”. This can cover everything from product liability to company vehicles. A decent policy can run as little as $300/year and offers a great extra level of protection.
Click here to view our list of insurance providers in our Vendor Network.
Prepare the business as if someone needed to take it over and run it for you. Every business needs a method to process orders, pay bills, pay employees, pay taxes, maintain your permits, etc. Basically, try to make the operational aspect of the business as automated and efficient as possible so you can concentrate on growing your business. View our “Manage Your Company” section for help with systemizing and automating your business.
Now that you’ve set up the company for success, you need to get the word out. Create a marketing plan for your products and services that targets your ideal customer. View our “Marketing & Sales” section for help for more information.
DBA: Your assumed business name must be renewed every two years.
LLC: Oregon LLCs must file an annual report every year by the filing anniversary date.
Corporation: Corporations in Oregon need to file an annual report every year by the filing anniversary date. LLCs and Corporations will pay a filing fee of $100.
Click here to view our MyCompanyWorks Premium™ service which can automate most of your ongoing compliance tasks.
Corporation Division Services (for Corporation and LLC filings)
Public Service Building
255 Capitol St. NE, Suite 151
Salem, OR 97310
Oregon Taxation Departments
Oregon Labor and Employment Departments
Oregon Startup Resources
1. Small Business Administration (SBA) Oregon
2. SCORE Oregon
3. Oregon Legal Statutes
5. Business Xpress
6. Oregon Angel Investors
7. Oregon Business News
8. Business Oregon
9. Oregon Small Business Development Center
10. Oregon Green Business
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