Oregon is a great place to start a small business. Due to the state’s laws and certification programs, small businesses have a significant advantage in the market, especially when it comes to government contracting. The simplest business setup is the sole proprietorship. If you are self-employed or you want to start a one-person business in Oregon, this article will guide you through the registration process.
Disclaimer: Be aware that this article is not a substitute for legal advice. Please always check official websites or seek legal advice before you take action.
What is a sole proprietorship?
A sole proprietorship is the easiest way of starting your own business in Oregon and it comes with many advantages. It is somewhat similar to, but also quite different from having a single-member LLC. Unlike a single-member LLC, a sole proprietorship provides you with more flexibility between your professional and personal assets. Of course, this also means that you will be personally liable for your business’s legal obligations. In case your business gets sued, your personal assets can be seized by creditors.
How to register a sole proprietorship in Oregon
Oregon sole proprietorship registration is a quite easy and straightforward. You may not even have to go through a business registration process or pay any fees, depending on what industry your business operates in. However, you will still need to take care of some crucial things before you can start.
Choose a name or “Assumed name”
The first thing you will need to do when you want to register sole proprietorship Oregon is to choose a name for your business. Even though the State of Oregon allows sole proprietors to use their given name as the name of their business, it is usually better to choose a different one to indicate your professional trade. If you decide to use your legal name as the name of your business, you won’t need to officially register your business name. However, if you opt to do business under a different name, you’ll need to ensure it’s available. To confirm the name you chose is available, check the Oregon Business Name Database.
Keep in mind that if you’re a sole proprietor in Oregon running a business with an Assumed name, you are required by the state to file it with the Secretary of State Business Registry.