Starting a Business

The City of Lowell is open for business and we’re committed to your success. We’ve hired Oregon RAIN to come support our businesses, and you can reach out to Rural Venture Catalyst Raj Vable at raj@oregonrain.org for free one-on-one consulting. Beyond that, you can visit Oregon RAIN’s Facebook page to see a list of the events we organize in partnership with Oregon RAIN.

Below are the basic steps involved in starting a business.  Some of these steps may not apply if you are expanding or moving your business. If you have questions regarding your specific project, please contact Rural Venture Catalyst Raj Vable.

  1. Ask the Hard Questions. There are several questions you should ask yourself before moving forward with any new business venture.
  • Is my business idea a profitable opportunity, or just a fun idea?
  • Does my business solve a problem or fulfill unmet demand?
  • Do my skills and experience lend themselves to my new venture?
  • Do I have the time and energy to get a business up and running?
  • Who can mentor me through this process?
  • What is my tolerance for risk?
  • How long can I go without pay while the business is getting started?
  1. Develop a Business Plan and Get Funded. Business plans help you and others to forecast if you have the potential to run a financially successful business. If you need a loan, you must have a business plan.
  • Contact the Small Business Development Center at Lane Community College. They offer FREE business counseling and can help you with your business plan.
  • Determine what your cash and non-liquid assets are, which you will use to start your business and qualify for a loan, if needed.
  • Use your business plan to find additional capital, if needed. Local banks and credit unions are a great place to start as they have an emphasis on local small business lending. Larger national banks may or may not have more difficult lending requirements, but should also be considered, especially if you already have a long-standing banking relationship with them. You may also want to explore funding options through the Lane Council of Governments (LCOG) Business Loan Program or Community LendingWorks.
  1. Make it Official. Register your business with the appropriate entities to avoid headache and/or fines down the road. Your type of business, your partners, and your tax strategy will inform what type of entity you will form your business as – LLC, S Corp, B Corp, etc.
  1. Determine where you will do business. Some businesses may be able to start from the comfort of home. Others have additional needs that require more office space or a brick-and-mortar location.
  • Will you work from home? If so, you may need a home occupation permit from the City. These permits are issued to home-based businesses that are compatible with the environment of a residential neighborhood.
  • Do you need office space or a storefront? The City maintains a list of available property for sale or lease with the appropriate contact information.
  • Do you need help negotiating a lease or purchase? If necessary, talk with a local real estate broker. They can assist you with negotiating fair and reasonable terms.
  1. Get Ready to Open!
  • If you are doing any construction in your new place of business, please obtain the proper permits. For information on permitting, contact City Hall.
  • Let us know about your grand opening! The City has an Economic Development Committee that is interested in hearing your story and ways that we may be able to help.
  • A few final tips:
    • When construction is complete, post your certificate of occupancy and licenses.
    • Keep your business skills sharp. Take advantage of SBDC courses and programs.
    • Stay engaged with your customer marketing strategy.
    • Refer to and update your business plan as needed.
    • Join a business networking group to discuss local opportunities and challenges.

If you need assistance, please feel free to contact Rural Venture Catalyst, Raj Vable.

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