Oklahoma's state slogan translates to "Labour Conquers All Things," and running your own small business can do a lot for you. But there are steps you should take to further your potential success down the road.
If you're a business owner, you may need an Oklahoma state business license.
In this article, we'll review whether or not you're likely to need to get your license, how to get your Oklahoma business license, how much it may cost, how it's related to your business insurance, and more.
Ready to learn what to do to set yourself up for success?
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The state doesn't issue a general Oklahoma business license to all small business owners, but depending on the type of work you do, you may need to get a business license and some type of permit.
We'll get to the process of getting your Oklahoma license in a bit (you can check if your profession requires one here). Even if you find that your profession doesn't require a state license, there are still many benefits of applying for one. Having an Oklahoma state license may help you:
So now that you know it's a smart decision to get an Oklahoma business license, we'll look at the steps you'll take to move forward.
Most business types will require an Employee Identification Number, or EIN, before registering for a Oklahoma business license. You can apply for your EIN with the IRS here.
You'll need an account on OK.gov to register for your new business license and later on to renew your license, so it’s best to get started now! Follow the steps prompted on this page to create an account.
Here is information you may want to have on hand before creating your account so that you can move through the process a bit faster:
The state of Oklahoma requires many small business owners to get a $1,000 surety bond, which typically costs around $100, before applying for a business license.
Part of the registration process for your business license is paying for the license. In Oklahoma City, the current cost of a business license (as of the date of this posting and excluding the surety bond) is $30. In other cities around the state, the price may differ, so we suggest checking with your local municipal government.
Once you've paid for your Oklahoma state business license, you'll receive a printed license. If your business has a physical location, make sure to display the license where your customers can easily see it. If you don't have a physical location, you can look into placing proof of both your business license and your business insurance on your company's website.
In the state of Oklahoma, a business license is different from a professional license. Depending on the type of business you operate, you also may need a separate professional license.
If you don't see your profession listed in either of the above locations and still have questions around whether or not you'll need a license to operate your business, you can call the Development Services' Licensing Division at 405-297-2606.
Each city has a slightly different process for applying for your Oklahoma business license. Here are some of the starting points for Oklahoma's more popular cities:
We mentioned earlier that there are a couple different costs that go into getting your state of Oklahoma business license.
The first is the cost of a surety bond, if you are required to have one based on your profession, to get while registering for your Oklahoma business license.
The second is the cost of the license itself, which may vary. For instance, currently an Oklahoma City business license costs $30, but a license in a different city (like Tulsa or Edmond) may be a different amount. Consult with your local municipality's website to check for the current fee.
You may need to show proof of business insurance to get your license.
That’s where we come in. Compare free insurance quotes for policies as low as $25.95/month.*Start My Quote
You may not need business insurance to operate your Oklahoma small business, but depending on your profession, the state may require you to have liability insurance coverage.
Regardless of whether or not the state requires you to have business insurance, we still suggest considering coverage. Having either a general liability insurance policy, a professional liability insurance policy, and workers compensation, can protect your business in a big way.
Securing coverage for your small business has various benefits, and it can help you to:
It's understandable that you may not know how a business insurance policy could impact you, but we're here to help. You can use our free quote comparison tool to see what your coverage could look like.
There's no question that our journeys as small business owners are long — but isn't it exciting? By now, you should feel confident about applying for your license, as well as looking into getting insurance. There are so many ways to secure your business from the get-go, and we hope this was helpful. Getting your Oklahoma state business license is just the first step on your path toward growing your business successfully. Congratulations!
* Monthly payment calculations (i) do not include initial premium down payment and (ii) may vary by state, insurance provider, and nature of your business. Averages based on Q1 2020 data of 10% of our total policies sold.
I’ve told stories since I learned to talk and written since I could hold a pen. As a small business owner myself - I'm a freelance writer and yoga teacher - I love contributing to the entrepreneurship community in different ways (including writing for Simply Business!). When I’m not drafting articles for SB, I can be found on my yoga mat, perusing an indie bookstore, and writing (with my cat nearby of course).
This content is for general, informational purposes only and is not intended to provide legal, tax, accounting, or financial advice. Please obtain expert advice from industry specific professionals who may better understand your business’s needs. Read our full disclaimer
*Harborway Insurance policies are underwritten by Spinnaker Insurance Company and reinsured by Munich Re, an A+ (Superior) rated reinsurance carrier by A.M. Best. Harborway Insurance is a trade name of Simply Business, Inc., which is a licensed insurance producer in all 50 states and the District of Columbia.