How to Start a Small Business in Tennessee

Tennessee has made starting a small business easy. All you need is a computer, Internet access, a business plan and the desire to succeed. Go through this article before taking the first step; you want to know what information to have before registering your business. Tennessee is looking to increase businesses within its borders; they have people and resources standing by to help you succeed.

Difficulty: Moderate

Instructions

1. Consult a lawyer and a Certified Professional Accountant (CPA). Get business law inputs from your lawyer; receive business tax and employee tax payment information from the CPA. Contact a registered agent prior to starting your small business. Click the "Registered Agent Listings" link (see Resources below). Once there, select the hyperlink that says, "Find Registered Agents," then find the hyperlink that says, "Tennessee." Once on the next page, select the "Click Here" hyperlink under their "BizFilings" option.

2. Access the "Tennessee State Government" website and click on their "business services" tab (see Resources below). Look under their "Resource Guide" button and click the "Getting Started" option. Know that you'll need to generate a business plan, consider your business options and look for a bank to work with. Decide what business entity you'll be: personal identity, sole proprietorship, general partnership, corporate identity, or a limited liability corporation. Be prepared to pay a fee ranging from $300 to $3,000.

3. Access Tennessee's "One Stop Business Resource" web page; you can do so from a link on the "Tennessee State Government" website. Click on the link that says, "One Stop Business Resource," or access the resource link (See Resources below). Create a personal account profile; start by creating your personal user name and a password. After you create your profile; complete every page by entering the requested information. As you progress through, enter the information related to the business entity you chose in Step 1. Provide your intended business name and business location, to include all business mailing addresses. Supply the information for your registered agent from Step 1.

4. Proceed to the "Tennessee Department of Revenue's Business Tax Registration" page (See Resources below). Select the "Register Business" button; then click the box representing the tax that your business is required to pay. Select "Next," then enter your "Business Opening Date" and "Accounting Period Ending Date." Enter your "Federal Employer Identification Number" and "Secretary of State" number on the next page (see Tips below). Provide your personal and business contact information; click "Next" and continue filling information in until you complete the registration.

5. Click on the "Tennessee Small Business Development Centers" link (see Resources below). Once you get on their home page, go to the "Locations" drop-down menu towards the website's top right corner. Click on the drop-down menu, then select the city nearest to you. View its contact information; these numbers lead to business professionals that can give you actionable advice.

Tips & Warnings

• When you register your business, the Secretary of State's office or their representative assigns a seven-digit number to you. Enter this number when you register your tax information. For additional information, please contact Tennessee's Business Services at, "312 Rosa L. Parks Avenue, Eleventh Floor; Nashville, TN 37243." You can also call them at [phone] or fax them at [phone].

Resources

• Tennessee State Government Website on starting small business.
• This website allows you to automatically create a business in Tennessee, you must create a profile to use this service.
• Locate the nearest agent.
• Business Tax Registration.
• Tennessee Small Business Development Centers; not only could they guide you in starting your business, they could help you develop it.