How To Start A Business In Oklahoma

Entrepreneurship in Oklahoma

Opening In Oklahoma

Oklahoma natives have invented everyday objects from the shopping cart to the yield sign. In fact, the first electric guitar was invented here by Bob Dunn. It's no wonder so many great entrepreneurs have come from Oklahoma.

 

 

With people like Ed Malzahn (Founder of Ditch Witch), and David Green (Founder of Hobby Lobby) to look up to, the people of Oklahoma love to lead entrepreneurial teams that change the world.

 

 

Containing some of the best parts of Route 66, the sooner state is a great place to start your small business.

 

 

Registering Your Business

Registering In Oklahoma

Registering your business is one of the first steps to success.

 

 

And with Oklahoma’s 100 dollar fee for starting an LLC, it's important you get it right.

 

 

Decide what kind of model is right for you (LLP, LLC, Corporation, Sole Proprietorship). Most small businesses start with an LLC. If you’d like an LLC, S-Corp, or C-Corp done for you, we’d be happy to do that on your behalf.

Click here to learn more.

 

Market Analysis

Analyzing Oklahoma's Market

Before you start your business, look around to understand the market in Oklahoma.

 

 

With an abundance of rich natural resources, Oklahoma has a ton of business potential.

 

 

According to TaxFoundation.org, Oklahoma ranks an awesome 11th in the corporate tax rank.

 

 

Competitor Analysis

Another good way to understand Oklahoma’s market is to visit your local Chambers of Commerce.

Chambers of Commerce

 

You can use your local chamber of commerce to identify opportunities and threats in your local community. It’s a great way to get started on the bottom 2 quadrants of your SWOT analysis.

 

We’d recommend looking through it and identifying competitors in your industry, and identify the points of parity you need to live up to, and how to better leverage your points of differentiation.

 

Labor Statistics

Oklahoma is full of hard working people that can be amazing assets to your company.

 

Unemployment rate in Oklahoma:

2.5%

Information from Oklahoma.gov

 

Average annual salary in Oklahoma:

60,844 dollars

29.25 dollars an hour

Information from Zip Recruiter

 

Education levels for residents of 25 and older:

High school degree or higher:

88%

 

Bachelor degree or higher:

26%

 

Information from World Population Review

Housing Market

Price index yearly growth: 14.05%

 

Medium house price: 136,800 dollars

National average house price: 269,039 dollars

 

General Advice

General Info For Oklahoma

Oklahoma is a unique place to start a business. We hope that the resources and points we brought up here will help you start a business there.

 

If you’d like to dive deeper into how to start a business, check out our much longer article How To Start A Business. Use both of them to get started on the right foot from day one.







About the Firm...

Miller IP Law is a firm that focuses on small businesses, startups, and entrepreneurs/solopreneurs. We’re easy to use. We offer affordable pricing that’s transparent and flat-rate. We focus on the little guys who actually need our help. If you’d like an attorney on your team, simply schedule a Zoom call, and we’ll take care of the rest.


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