Ready to Open Your Business in Knoxville?
The Knoxville Chamber of Commerce is dedicated to fostering a vibrant business community through effective communication and stakeholder engagement. Take a look at the resources below to help walk you through the most common steps of opening a business.
The Basics
Have a Business Plan
The first step to any new business, after having the idea, is creating a business plan. Consider it a roadmap to get to your desired destination. You will also need a business plan in order to get a loan from a financial institution.
Register with the State
Register your company with the State as a sole proprietor, LLC, S-Corp or C-Corp. Not sure which is best? Find a local attorney to help you through the process.
Employer ID Number
Apply for an Employer Identification Number (EIN). It’s free and easy to do yourself or an attorney can help you with this step as well.
Tax ID Number
A sales tax number is required but that doesn’t mean it has to be difficult. Have an accountant help you register to ensure all steps are covered.
Bank Account
You will need a place to put your profits! Open a business bank account to keep your earnings safe and secure.
Accounting
Setting up a strong accounting system is a crucial step in a business’ money management. Find the right accountant for your business.
Insurance
Keep your business secure by setting up an insured coverage plan for your business.
Financial Resources & Incentives
Most people acquire a business loan for start-up costs for their business. Depending on the size and scope of your endeavor, there may be more financial resources and incentives available to you.
Additional Resources
Not sure where to go from here? Find guidance, business plans and cashflow advice to keep your business on the upward trajectory.
Next Steps
Business Licensing Requirements
Learn how to navigate the maze of business licensing requirements, including:
- City of Knoxville Licensing
- Marion County Licensing
- Federal Licensing
- State Licensing
- Construction Contractor Registration
- Daycare/Childcare
- Restaurant or Bakery (Not Serving Alcohol)
- Liquor License
- Licensing Vehicles and Drivers
Prepping for Employees
Prepare your business for the hiring and firing process before bringing on employees.
Find a Location
Take Claim Over Your Idea by Filing for a Trademark and/or Patent
Meet with a local attorney to help with filing a trademark or patent.
Join a Local, State, or Regional Association to Propel Your Business to Success
- Knoxville Chamber of Commerce
- Directory of Associations
- Contact your professional association to find more resources specific to your industry
