Congratulations on your decision to embark on a new business venture!  As an entrepreneur in Denver 20 years ago, I wish someone had given me a roadmap to starting a business that would have provided a checklist of government requirements and helped me find the much needed resources I sought.

So, to save you the time and ensure you have all that you need to know in one handy place, we have outlined a nine step process to help you successfully start your own small business.  The requirements may vary according to the type of business you intend to start, but following nine steps will put you on the highway to success.  We've summarized the nine steps below but you can download the complete document by clicking the following link:  Nine Steps to Starting Your Business.

- John W. Hickenlooper, Mayor

Step 1:  Gather Information
Within the boundaries of the City and County of Denver, you will find many resources as you research the structure, location and potential of your new business, such as the Denver Business Assistance Center (BAC), SBA, other local economic development organizations and libraries.

The Colorado Business Resource Guide is an excellent first-stop when determining all aspects of taking on the role of business owner. 

The Denver Public Library provides excellent access to multiple business-based databases that can be used to research market opportunities, competitor anaysis, and supplier availability (go directly to the Business Research section).   Registering for a library card is quick and free and required to access the databases.

The Rocky Mountain MicroFinance Institute (RMMFI) offers a monthly, no-cost workshop entitled Exploring Business Ownership.  This workshop provides Business Curious entrepreneurs with the tools to gain a new perspective on their business concept, flesh out the role they will play as the business owner, and get the inspiration and motivation needed to move forward.  Contact RMMFI (www.rmmfi.org) directly to register for the next session at training@rmmfi.org or 720-941-5037

Step 2:  Create a Business Plan
Many business fail without a well thought-out business plan. Furthermore, banks will require that you have one prior to being considered for a loan.

The local SCORE (Counselors to America's Businesses) program provides low and no-cost mentoring assistance in the creation of an effective business plan. 

The Denver Small Business Development Center (SDBC) provides free one-on-one counseling services in the areas of business research and marketing, business plan preparation, new business feasibility analysis, finance packaging and other small business topics. It offers low-cost workshops and seminars for business owners.

The non-profit Accion has some helpful ideas and several business plan templates on-line.

The Rocky Mountain MicroFinance Institute (RMMFI) offers a low-cost business planning workshop entitled Mapping Your Vision.  This two part workshop helps entrepreneurs refine the vision for their business and set immediate, short term, and long-term objectives that support the vision and define key action steps along the way.  Contact RMMFI (www.rmmfi.org) directly to register for the next session at training@rmmfi.org or 720-941-5037.

Step 3:  Determine a Business Name
Choose your business name and register it on-line with Colorado's Secretary of State Office.  Existing business can also renew their trade name or obtain a certificate of good standing.

Step 4:  Determine Business Legal Structure
Consult an attorney to determine the legal structure of your business and register it with Colorado's Secretary of State Office.  The Colorado Business Resource Guide includes a helpful section on this topic.

Step 5:  Select a Site
Select a site for your business and visit Denver's Community Planning and Development Department to determine the zoning requirements prior to signing a lease or contract.

Step 6:  Obtain Permits & Licensing
Visit Denver's Excise and Licensing Department to determine your business activity type and obtain the permits and licenses you need.

Step 7:  Tax Information & Denver Treasury
Check and register with Denver 's Treasury Division, Colorado Department of Revenue and the US Internal Revenue Service to obtain the necessary tax information you need for your business.

Step 8:  Employer Responsibilities
Employers must register as an employer, pay additional taxes, withhold, match and submit employee withholdings, obtain worker’s compensation insurance and adhere to employee eligibility regulations.

Step 9:  Obtain Financing
Financing the initial expenditures is one of the most important steps in starting a business venture.  Bring your business plan to your local bank or credit union to secure funding.  Most financial institions will not consider a deal without it.

Good luck!