This week we are visiting the Midwestern state of Iowa! This state is in between the forests of the east and the grasslands of the high prairie plains of the west. It is named after its original settlers, the Iowa Native American people who once occupied the area.
While Iowa comes in at #23 on WalletHub’s list of the best states to start a business in, the article also states that it is the third best state to receive accessible funding for companies. Iowa also prides itself on maintaining a strong education system for professionals of all ages, nationally recognized STEM curriculums, and their Targeted Small Business program (more about that in a minute). If you’re thinking of starting a business in “The Hawkeye State” here’s what you need to know about incorporating in Iowa.
1. Business grows in Iowa, according to the Iowa Secretary of State. Their team offers a wealth of small business resources including information about forms and fees for filing and incorporating as your entity of choice (with options that include limited liability companies, sole proprietorships, partnerships, and corporations. Not sure which entity is the best fit for you? They’ve got a guide that covers the advantages behind each legal structure.
2. The next step is choosing a name for your business. Now that you know which entity to incorporate as, it’s time to pick a name. and register for trademarks. You can conduct a name search through the Secretary of State to determine the availability of your business name and use their application for registration of marks.
3. IASourceLink offers plenty of assistance to entrepreneurs starting a business in Iowa. They can help you find a business location, provide information about finding, managing, and paying employees, offer funding options, help with business licenses and business expansion, and assist with printing your certificates of standing online
4. Where can I find legal assistance? Should you need it, the Iowa State Bar Association has rounded up the best resources the state has to offer small businesses by way of attorneys for each city and county area.
5. What’s the story on the Targeted Small Business program that you mentioned earlier? This program, often referred to as TSB, was designed to assist individuals with disabilities, service-connected veterans, individuals with minority status, and women in starting or growing an Iowa business. Keep in mind that family owned businesses may be eligible for certification, you don’t need to be certified in order to qualify for a startup loan, and the application process is free!
Thinking about starting a small business in Iowa? Give us a call at 1(877) 692-6772 or visit us at mycorporation.com if you have any questions about forming a business or the regulations required.
Welcome back to the 50 States of Incorporation, Rebooted where we share what it takes to start a business in each of the 50 states. Join us biweekly for advice on how to start an LLC or corporation across the United States.