Entrepreneurship
The Oklahoma Department of Commerce offers a robust array of online tools and information, links to resources, and a team of advisors to help Oklahomans realistically realize their entrepreneurial dreams.
Start a Business
Oklahoma Leads Nation
in Business Startup Rate
The entrepreneurial spirit is alive and kickin' hard in Oklahoma. The state's ongoing efforts to foster new business development have helped lift it to the top of the heap in startup activity. That's leadership where you want to see it.
Oklahoma (along with Montana, who knew?) led the nation in startups in 2009 with 470 monthly businesses startups for every 100,000 adults, according to the Kauffman Index of Entrepreneurial Activity. Over the year, that would have been more than 100,000 new Oklahoma businesses.
The nationwide startup rate was 340 new businesses each month for every 100,000 adults in the population. That added up to about 6.7 million new business in 2009. It was the highest new business rate in the 14 years Kauffman has been tracking new business development. The typical first-time entrepreneur is not the software geek often depicted. He's a he, a Latino immigrant over 35 years old, and he's starting a construction business. But entrepreneurs are plentiful among all demographic groups and all industries.
With organizations across the state helping entrepreneurs go from concept to production and the Oklahoma Department of Commerce offering a robust array of online Start a Business tools and information, links to additional resources, and a team of business advisors, Oklahoma's pro-entrepreneurship environment is impressive -- and at your fingertips.
Programs and organizations ready to assist new and small businesses include business incubators; the Oklahoma Center for the Advancement of Science and Technology (OCAST); the University of Oklahoma's Center for the Creation of Economic Wealth; Langston University's new master's program in Entrepreneurial Studies, the Meridian Technology Center's Center for Business Development, and more.
How Do I Start?
Q: How do I start a business in Oklahoma?
A: Here are the basics that apply to almost all new business start-ups:
1. Get a Federal Employer Identification Number from the IRS at www.irs.gov or (800) 829-4933.
2. Register your business with the appropriate state agencies, including:
a. The Secretary of State – This includes checking name availability and protecting your trade name.
b. The Oklahoma Tax Commission – Download this Oklahoma Business Registration Packet.
c. Oklahoma Employment Security Commission – For unemployment insurance regulations and information.
3. Determine what additional statewide licenses and permits may be required for your business by visiting our Business Licensing System. Check with your local city hall to determine if additional licenses or permits are needed.
4. Inform yourself! Read and take advantage of all the additional resources available to you on this site and others for how to successfully start and run a business. Can't find what you're looking for? Contact the Commerce 2nd Century Entrepreneurship Center at (800) 879-6552 or email your questions to okstartup@okcommerce.gov.
Info About Grants
Q: I've heard there is grant money available to help fund my for-profit start-up business. Where can I find those grants?
A – Typically, grant money is only available to assist non-profit organizations. If your business is non-profit, you will want to start with the Grants.gov and Foundation Center websites. However, the availability of grant funds for for-profit businesses is extremely limited and typically highly specialized. We have found no consistent, reliable source for small businesses either public or private. We don't want to discourage you from searching for such funding, but the Oklahoma Department of Commerce is not aware of for-profit grant funding.
Q: If grants aren't available, how do I fund my new business?
A – Assistance from personal resources, such as family and friends, followed by traditional financing through a local lending institution where you have an established relationship are the most common methods for funding a start-up business. Some businesses may qualify for assistance in the form of loan guarantees from the
Small Business Administration (SBA). In fact, most financial institutions will require an SBA guarantee. Many banks have departments that specialize in SBA lending. An SBA Prequalification Intermediary can help you to prepare your application for a loan. To find the intermediary closest to you, contact the SBA district office in Oklahoma City at (405) 231-5521. Any reputable lender will expect to see a thorough business plan. Visit the Oklahoma Department of Commerce Business Financing section for additional financial resources.
Business Plans
Q: Who can provide assistance for writing a business plan?
A – You can get one-to-one assistance through one of the many Oklahoma Small Business Development Centers located throughout Oklahoma. To find the closest center to you, call (800) 522-6154 or visit the OSBDC website. You may also find business plan help through one of Oklahoma's Career Technology Centers. Visit the CareerTech website to learn more about the help available or call (800) 522-6154. If you prefer to go online to get help, visit the Small Business Administration Business Plan Basics website. To download a Business Plan guide, which walks you through every step of developing a business plan, click below to select the English version or the Spanish version.