Starting a business is often an expensive endeavor, with a new expense or bill showing up every week. In Colorado, the process just became a little bit cheaper.
Effective July 1, 2022 business owners and entrepreneurs pay only $1 for the formation of a Limited Liability Company (LLC) and $1 for the registration of a new trade name for their business entity! It had previously cost $50 to form an LLC and $20 to register a trade name, so this is a savings of $68.
This awesome cost savings is the result of the Colorado Business Fee Relief Legislation Act and the discounts will remain in place for the next year (or until the fees run out).
How Do You Take Advantage of This?
If you think this is a great opportunity or the sign you needed to start the business you've been thinking about, here are resources to help you make that happen. First, you'll need to determine the appropriate entity for your business because an LLC isn't your only option. You can learn more about the available business entities and how to register your business by reading my blog The Basics: How to Start a Business
If you think an LLC sounds good, then you'll want to learn about the steps required to form an LLC in one of these resources:
Legal Information Reference Center - This fabulous online resource has an entire books with a PDF for each chapter, including forms and templates.
Form your Own Limited Liability Company
Limited Liability Companies For Dummies
Where to Get Help
Most of the business owners I talk to tell me that starting a business is a challenging task and that they're glad there's so many places to get help in Colorado.
Don't go it alone, get help from these reputable organizations! Below are resources I've created to help you find out about all the free and inexpensive resources available to you in Colorado.
- Ask a Librarian at Arapahoe Libraries - As the Business Librarian, my brain is a virtual rolodex of the resources in the Denver Metro, and you can ask me questions by submitting a request on my Business Services page.
- Colorado Business Resources - I've learned that it's not good to just keep things in my brain, so I created this list to help anyone and everyone find these great resources.
- Business Resources for New Americans - Colorado also has excellent resources for people who have recently moved to America or who speak English as a second language.