Lexington is the second largest city in Kentucky and the 65th largest in the United States. It is located in the blue grass region of Kentucky,an area well known for its dense population and rich agricultural history. This central location makes it a hub for business activities both in small and large scale. In July 2008 Lexington was named as the 5th best city for business and careers by Forbes magazine. This makes it a good choice for you to start up your business.
Things You Will NeedFunds
Step 1Develop a business plan. This will act as a guide towards the formation of your business. Your business plan should include a brief introduction of the business,description of goods and services offered,a budget and an organization structure of how the business will be run.
Step 2Register your business name. You will need to register your business name with the Kentucky Secretary of State .This can be done through the following address;
Kentucky Secretary of State
Corporate Division,Capital Building
Registering your business helps to ensure that your business is protected from other businesses that may be using the same information.
Step 3Get a business permit for your business. All businesses in Lexington need an Employer Identification Number to help you comply with Federal income tax,Unemployment Insurance regulations and social security regulations. For state licenses you will need to contact Business Information Clearing House through:
Business Information Clearing House
Capital Plaza Tower
Frankfort, KY 40601
Phone: (502) 564-4252
(800) 626-2250 (toll free in Kentucky)
Fax: (502) 564-3256
Local licenses on the other hand can be obtained from the Lexington-Fayette Urban Co. Government's
Division of Revenue at (859) 258-3340 Array
Tips & Warnings
- Choose a strategic location for your business that will attract many customers.
- Take advantage of free business training offered in different local communities to businessmen in Kentucky.