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Youngstown Business Startup Resource Center

This page provides information and resources for individuals wanting to start a business but unsure of where to start. Placeholder text here.

Business Organization Structure
One of the first steps you need to take when starting a business is deciding what type of business organization works for you:

Sole proprietorship: All liability falls on the owner; business is taxed as if all profits are personal income; personal assets can be attacked in a lawsuit.

Partnership: Liability is split between multiple owners; owners split the income of the company and pay taxes as if their share of profit is personal income; personal assets can be attacked in a lawsuit.

Limited partnership: The same laws apply to a limited partnership as a partnership, but instead of profits being split evenly between owners one owner has more stake than the other. Owners’ personal assets can be attacked in a lawsuit.

Limited liability company: Owners of LLCs are referred to as members, and members can be an individual or another company/corporation. All members must have a unanimous agreement to take action. Tax-wise, LLCs are treated as sole proprietors; personal assets are protected in the event of a lawsuit.

C corporation: A company that has many owners and is registered to sell shares. The company gets taxed twice, both via a corporate tax and shareholders personal incomes; personal assets are protected in the event of a lawsuit.

S corporation: Similar to a C corporation but with less than 100 shareholders.

Market Research
The US Small Business Administration provides instructions on how to research demand in certain markets. It’s important to do market research to ensure that your business has a chance at success in the location you’ve chosen. Click here to visit the SBA’s webpage on market research.

Preparing to File Paperwork
The following document has all the steps needed to start your business. Read through the document.
Note that not all parts of the document are needed for your particular business, types of businesses that do not need to read sections will be noted.
Note in section 6 of this document there are links to additional information to start your business including the information used to make this spreadsheet. If something in this document does not make sense feel free to use those resources to have the information presented in a different way

Creating a business plan is important for multiple reasons. Since different types of businesses require different paperwork, it’s useful to have your intentions mapped out in a business plan before you begin. Furthermore, loan issuers and organizations/agencies often require a business plan before considering applicants for funding. Starting a business entails a lot of work, so creating a plan will help streamline your ideas and keep you organized and on track. Below are some resources to help you create your business plan.

US Small Business Administration

SCORE Association

The Youngstown area is serviced by the Ohio Small Business Development Center at Youngstown State University. The SBDC offers comprehensive business management and education services, including free, confidential, one-on-one counseling and low- or no-cost training.

(Could we create a worksheet of things to consider for a business plan and link it here?)

All businesses need to have a dedicated bank account. In order to open a bank account, you will need the following:

Employer Identification Number

Ownership agreements, if applicable

All formation paper filed with the Secretary of State (and Federal Government, if applicable)

Business license(s)

Personal information (such as your Social Security Number, proof of residence, etc.)

Keep in mind that different banks offer different benefits. Your personal bank might not be the best choice for your business. Do your research and be sure to consider introductory offers, interest rates for savings and checking, interest rates for lines of credit, transaction fees, early termination fees, and minimum account balances and fees. Here are some banks to look into:

Locally-owned banks in Youngstown

Huntington National Bank

First National Bank

Chase Bank

PNC Bank

Depending on your location, you may qualify for assistance programs that provide assistance to businesses in low-income areas:

Ohio Enterprise Zones

Community Reinvestment Area

HUBZone

Float Loan Program

The Small Business Association offers tons of resources for new business owners, including classes on how to fill and file the necessary paperwork. Click here to access the SBA Business Guide.

The State of Ohio has made a business portal to easily file paperwork. As part of this portal, they have made a start-up guide for Ohio. Click here to access the State of Ohio’s Business Guide.

The Department of State in Ohio has made an abbreviated 10 step process to start a business. Click here to be directed to the Ohio Secretary of State’s business start-up road map. 

The Public Library offers personal help for new business owners, including classes on starting a business and business research assistance, free of charge.  Click here to access the Public Library of Youngstown and Mahoning County’s business resource hub.

The Federal Government lists resources on their website to help you start your business. There is a lot of useful information on this site, but please note that not all of this information will apply to all businesses. Click here for the Federal Government’s guide to starting a business. 

SCORE is an organization that works to help new business owners get started nationwide. The City of Youngstown has its own SCORE chapter which works closely with Youngstown State University to provide more local assistance. Click here to be directed to SCORE’s list of startup resources. 

The Youngstown Business Incubator works on providing businesses with the resources they need to succeed in the start-up phase. Click here to be directed to the Youngstown Business Incubator’s website.

Community Planning and Economic Development- Planning and Zoning
Office Phone: (330) 742-8842
Fax: (330) 744-7522
Email: [email protected]

Community Planning and Economic Development- Economic Development
Office Phone: (330) 744-1708
Fax: (330) 744-7522
Email: [email protected]
Hours of Operation: Monday – Friday, 8:00 AM – 4:00 PM

Engineering and Construction
Office Phone: (330) 742-8800
Fax: (330) 742-8807
Email: [email protected]
Hours of Operation: Monday – Friday, 8:00 AM – 4:00 PM

Income Tax
Office Phone: (866) 750-7482
Fax: (330) 743-3686
Hours of Operation: Monday through Friday, 8:00 AM to 5:00 PM

Health Department Administration
Office Phone: (330) 742-8291
Fax: (330) 743-3960
Email: [email protected]
Hours of Operation: Monday – Friday, 8:00 AM – 4:00 PM

Property Code
Office Phone: (330) 742-8888
Fax: (330) 743-3602
Email: [email protected]
Hours of Operation: Monday – Friday, 8:00 AM – 4:00 PM

Water Department
Office Phone: (330) 742-8749
Fax: (330) 742-8751
Hours of Operation: Monday – Friday, 8:00 AM – 4:00 PM

 

City Council contact information can be found by clicking here. 

All Ohio businesses are required to comply with the following:

  • You will need to apply for an Employer Identification Number through the United States Internal Revenue Service.

  • You are required to obtain a business license from the appropriate state agency/department. (More information)After clicking the link, search for your business type and use the chart to find which application you will need to fill out and where to file it.

  • You will need to register with the Ohio Secretary of State. (More information)Click the link and scroll down to see the list of forms and fees that your business may be subject to.

  • You will need to register your business with the Ohio Department of Taxation. (More information)The City of Youngstown has a 2.75% income tax and processes taxes through a third party. Forms can be found on their website, www.ritaohio.com.

  • You will need to file any unclaimed funds through the Ohio Division of Unclaimed Funds. (More information)“Unclaimed funds” include all intangible assets: Saving Accounts, Checking accounts, Unclaimed Wages, Dividends, and Credit Balances. A report on this information needs to be filed upon starting a business and yearly during the business's existence.

  • All businesses will need a dedicated bank account, solely used for the business. (More information)For more information on business banking, please see the Financial Planning tab above.

On the local level, here is some information you’ll need:

  • Water accounts can be managed online at the Water Department’s account management website.

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Ohio Business Gateway

It is highly recommended that all businesses register for the Ohio Business Gateway. The Ohio Business Gateway allows employers to file important paperwork and pay various taxes, all online conveniently in one place.

PLEASE NOTE: This portal is meant to provide you with all of the documentation and resources needed to start a business. This portal is not, however, a substitute for business planning. Additionally, the portal should be used along with conversations with the City of Youngstown and the State of Ohio staff. Contact information can be found in the directory tab.