FAQs

Step 1: Conduct a quick business name search to ensure your name is not already taken: Click here

Step 2: Consult your attorney and CPA to determine the type of business entity you should choose.

Step 3: Register your business with the Montana Secretary of State: Click here 

• If you are choosing an entity besides a Sole Proprietor, you can use this link to register your entity with the Montana Secretary of State, Create your Articles of Organization and file your EIN in one simply step and for one affordable fee : Click here.  (If you use this link, you may jump to Step 5)

Step 4: Apply for a Federal ID number: Click here

Step 5: Find and apply for a professional license: Click here  (Select- find a professional licensing board to locate a license for your industry).

Step 6: Inquire to see if you need an inspection or permit: Click here.

Step 7: Obtain a business license for your city.  For Billings, Click here

Step 8: Set up a business bank account (You will need proof of business name & Federal ID number).

Step 9: Purchase liability and other applicable business insurance (consult your agent).

Step 10: Work with insurance agent & CPA to determine if you need worker’s compensation or an independent contractor’s exemption (this is important).

For questions on Worker’s compensation visit here or consult your insurance agent.

For questions on Independent contractor’s exemption consult your CPA.

Local Attorneys:

1. Shane Coleman, Patent Attorney, 406-656-6551, 1555 Campus Way, Suite 201 Billings, MT 59102, shane@bmslawmt.com
2. Eric Nord (Firm Crist, Krogh & Nord, PLLC) http://www.cristlaw.net/  enord@cristlaw.com 2708 First Avenue North, Suite 300 Billings, MT 59101 Phone: (406) 255-0400
3. Kevin Heaney http://crowleyfleck.com/staff/kevin-p-heaney/kheaney@crowleyfleck.com 406-252-3441

Local Accountants:

1. Michael Morrison, CPA http://www.bigskycpa.com/home  (406) 702-1324
2. Lisa Wood, Woods Accounting www.woodsaccounting.com 406-969-5394
3. Amanda Kleinhans, MicroBooks$ mandy@microbooksmt.com 406-530-7800
4. Kendra Goodman, CPA, R&D Tax Credits kgoodman@wipfli.com 715-858-6606

Step 1: Identify Your Target Market

Step 2: Market Validation

Step 3: Data Analysis

Step 4: Product Design/Wire-framing

Step 5: Prototype Engineering

Step 6: Minimum Viable Product (MVP)

Step 7: Funding/Marketing

Step 8: Funding/Sales

Business plan review

Financial projection/analysis walk-through and review

Compiled Industry market research data

Bank or investment preparation (loan application or pitch deck)

Business management consulting

Calculate your break even point

Grant application review/assistance

One-on-one consulting

Help determining product pricing

Help with commercialization plans

Help with understanding options for manufacturing

Gain access to mentors who can help with navigating contracts

IP implications for commercializing my product

Help determine primary and secondary market for product